Posts Tagged ‘Puerto Rico’

A Long Read – The Agony of Global Capitalism


In a thought-provoking article, TeleSUR gives its take on global capitalism. The crises that afflict the Greece, which again goes to the polls in snap elections, and Puerto Rico provide a useful starting point.

The English version, The Agony of Global Capitalism As opener we have,

At least two populations suffered a severe economic crises this year – Greece and Puerto Rico – crises that submitted them to the demands and will of international creditors and resulted in dramatic cuts in social spending, as well as untold suffering in the form of increased unemployment and poverty.

These two places, Greece and Puerto Rico, although separated by more than 8,000 miles, and despite their completely different socio-political, socio-economic, and historical contexts, have in common a subjugation to the global economic system generally and, more specifically, to a major economic power: to the United States and to Germany, respectively.

En español, Capitalismo en agonía Dos párrafos claves, (more…)


EEUU, ‘Aquí se habla español’???


Yes, we can! ¡Sí, se puede! And in the very country where, since it is politically incorrectly to vituperate the black as in those ‘halcyon’ days of political games, the Latin is now open game, game as prey for hunting and deporting and for slander, the Spanish language will be spoken at many formal events. Mon dieu, where have all those ‘freedom’ fries (and WMDs) gone?

Yes, Pope Francisco plans to visit the US. And, yes, of the many speeches and Masses he is scheduled to give, the majority will be in Spanish, his native (Argentine) tongue. As The Guardian informs us, Pope Francis to deliver most speeches in Spanish during US tour. ¡Qué bárbaro! as some from far South would say. (more…)

The state of Puerto Rico, economic state, that is


For some thirty years, under Section 936 of the US tax code, the economy of Puerto Rico had benefited substantially from the influx of US corporations. While the US Congress would repeal Section 936 in August 1996, corporations would be granted a ‘breather’, a continuance of tax benefits for another ten years, expiring in 2005. That repeal of Section 936 was encouraged by the Commonwealth’s then Governor Rossello in the mistaken belief that the US Congress would promptly grant the dependency statehood.

The expiration of Section 936 would see the prompt flight of the corporations from the island to more lucrative destinations. (more…)