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This article explains why the territories are able to rack up such high debt levels, and how the territories compare.
Posted : January 29, 2015 11:31 am
Good article. Thanks for posting.
Posted : January 29, 2015 12:12 pm
Topic starter
You're welcome! I read it a few months ago, and after Mapp's address, thought it would be a good time to review it. I was curious as to why investors were willing to lend VI money with our disastrous finances.
Posted : January 29, 2015 12:49 pm
Excellent info for understanding how any investor would possibly want to buy a USVI Municipal Bond
I do think that GERS is going to be a very hard problem to solve.
Posted : January 29, 2015 1:18 pm
I do think that GERS is going to be a very hard problem to solve.
Based on the numbers it's quite simple. As the system is only 50% funded, when each pair of government employees retire they have a cage match to see which one of them get's a pension. Sell the rights to pay per view and we've got another source of government income.
You've just got to think outside the sphere with these tricky problems. 😎
Posted : January 29, 2015 1:37 pm