Josh Sigurdson sits down with author and economic analyst John Sneisen to give yet another update to WAM viewers regarding the dramatic fall of Puerto Rico as Puerto Ricans flee the island in HUGE numbers!
Imagine 20 million people leaving the United States. It would be a dramatic blow to the country. Well the equivalent have left Puerto Rico since 2013 as debt has overtaken the island.
400,000 people have left the island of 3.4 million since 2013. Many of the most successful and innovative have left in that exodus out of ambition to settle for more rather than less. Those who are further pushed into poverty are then forced to be extorted by the state to compensate the massive destructive regulatory policies of the island as the territory is plunged into vast amounts of debt.
As John Sneisen points out, they are headed on a track towards 90% taxation which would break people simply based on its hegelian nature of problem, reaction, solution, reapeat. The taxation in Puerto Rico is crippling as it is.
This isn’t headed anywhere good. We will continue to update you on this continuously developing story as we have since early 2016 when we first called Puerto Rico bankrupt while the government was still insisting the economy was fine.
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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