Ronald Reagan, second banana to a chimp for most of his life, once said, "The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.'"
Screw that. They're still true, but they've been replaced by "You're bankrupt and Wall Street will help fix that."
So combine the two, the federal government shoving Wall Street at a problem, and you have the current "Huzzah!" moment Puerto Rico is going through.
"But, Jenius," some of you will say, "it's just the feds coming in to set things straight. Who said anything about Wall Street?"
I did, I do and there's no hiding it. The federal government is trying to head off the financial collapse of Puerto Rico and who knows more about financial collapses than the banksters of the Street?
Look, We are bankrupt. Our debt and debt service are beyond Our current and estimated future capacity to repay. Anyone who argues the contrary is an idiot or ignorant of the facts. Puerto Rico's bond rating has not been properly classified as "junk" because there's too many billions of dollars of Our debt running around in too many pension funds and investment pools.
The feds may have ordered the "rescue mission," but the banksters are going to do the actual """work""", and if history is any sort of teacher--and it is--We're about to get raped. Oh, not immediately, of course not, that would be counterproductive. No, the rape will be delayed, to a time well after the money-grubbing forced "pawing foreplay" has properly run its course. Then, when the banksters and their cronies, both federal and local, have had their fill of easy pickings, then We'll experience the full effect. Think of it as going roofied, by command.
But by then, the feds and the banksters and most of the local vermin will have moved on, to another target.
It's not called a "SWAT team" for nothing.
And yes, "rape" is a harsh and horrible word. But Puerto Rico is about to be forced, compelled and obligated to perform solely to please someone else's idea of "satisfaction." We will ultimately get nothing out of the "rescue the Island's financial status" process except a loss of self, an image tainted by contempt and lasting pain. That is economic rape.
We can demand transparency in the process. We won't get it.
We can demand a greater say in the process. We won't get it.
We can demand more control over Our economy. We won't get it.
We can demand to be left alone to solve it Ourselves. Nobody will believe Us.
We won't get any of the above because We haven't got the guts, brains or will to demand any of it. And even if We did, We'd get nothing.
What We'll get, is shafted. Economically stripped and plundered like a Roman vestal by rampaging Visigoths wearing $2,000 suits and the moral IQ of a lead bullet.
They'll get what they want. We'll just get older. And more screwed.
The Jenius Has Spoken.