Tag Archive: underfunded pensions

Is Puerto Rico Just the First Domino to fall?

This week, Puerto Rico declared a form of bankruptcy as the island was left with no choice. Years of debt accumulation combined with ineffective government policies and other issues finally became too much for the island to bear, and the day of financial reckoning had arrived. This Puerto Rico bankruptcy could potentially have extremely far-reaching effects, and it should cause concern for U.S. citizens and investors. In short, the bankruptcy could bludgeon investors, undermine state and municipal governments and change the retirement plans of many.... Continue Reading