When The Larva and his (non)administration made noise after flatulent noise about creating Public-Private Partnerships (PPPs), they did so with the spin that these hybrids of economic deficiency were--somehow--to become engines of economic progress. The rhetoric and plans were ambitious, the law was drafted and crafted for maximum (in-pocket) impact and the whole ball of (ear)wax was trumpeted at the beginning of 2010 with the crowning jewel glittering like a snake's pupil: the privatization of the International Airport for an estimated ONE. BILLION. DOLLARS.
The list of potential projects was whittled down from about 70 to 9 and these were presented as thingies that were to be signed sealed and delivered by March 30th so that they could start transforming Puerto Rico before what passes for Fall steams across Our shores.
It's June now and all We hear is...kerfuffle. Nada. A whole lot of status crap, some blithering idiocies about a strike (in and of itself a blithering idiocy) and the usual game of "political media swirlies" that typify Our dumbest national sport.
But in the meantime, the (non)governor's henchmen sit upon a little over $14 billion of bonds revenue, product of a debt-increasing spree that has pushed Us to the edge of having a national debt equal to Our annual GDP, a debt/revenue ratio that often spells bankruptcy. If the funds were to "pay down" high-interest debt--a good thing--then why hasn't that been done? (And statehooders, shut up: if The Larva and his maggots had done it, We would be fershlugging tired of hearing about it by now.) If the funds were for investing in infrastructure--a good thing--then why hasn't that been done? (Statehooders: ditto.) And if the funds were aimed at helping to structure PPPs, well then...kerfuffle.
Let's face it: (non)governor Luis "The Larva" Fortuño is the fifth deckhand on the garbage scow S.S. Fortaleza and if the brain-damaged crew he's allowed from Day One to walk over him and take over this wreck don't find an iceberg, they'll sink the ship anyway simply by letting it founder and sink under the weight of their own incompetence.
PPPs were never intended to build Our economy, We know that, but there's not even an attempt at making a go of them and trying to make a difference. No, they served their purpose and now it's but a matter of keeping Our eyes peeled for when the pppathetic rats start abandoning the ship they've sunk.
The Jenius Has Spoken.