Source: Bloomberg
Puerto Rico Has Highest Debt Per Capita of All States
July 13, 2015 12:30pm by Barry Ritholtz
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ok, let’s forget for a second Puertorico.Conn, Massa and Hawaii are still, as far as I know, stars on the Old Glory, and I haven’t heard (but I’m far, so I’m not that sure) Iowa people demonstrating to push Conn out of the Union. I have, on the contrary, seen Finlandese & Germans make noise to push Greece out of … Europe, as if they could modify geography & history at wish. What’s the difference ? Simply that United States has a texture keeping things together, and not a ccy only, but a Federal Reserve reining it. In my opinion dumb politicians, looking just to their domestic opinion polls since ever have killed in one shot their own credibility (not a big damage, I deem) and the near future of USE, United States of Europe. Instead of thinking over what happened and discover why (it isn’t that difficult, anyway, but requires some unbiased thinking, and this for a politician is something like running 100 yards in 5 seconds for me) they started a bitter feud on who’s right and who at fault, who is angel and who should be punished: a thing that between Countries is simply out of the world. Once you take Bible to set foreign policy matters (and use it to tell world that you are RIGHT, and other culprits) you are going to make just blunders, you do not find there the specifications of the fuel for your car. What a pity ! I did dream of USE all my life long, and Schengen gave me an hope. Now I hope for my granddaughter’s sons (she is 13 now …)
Not a terribly informative chart, at least not without a companion chart showing per capita income per “state” … with those two charts, one might be able to discern regional debt-mania and debt-phobia, and even identify places where they are in serious trouble … but in absence of other data, per capita debt simply does not mean all that much.
But Puerto Rico is not one of the states, so the taxpayers are not on the hook for the Federal debt, right? All the other states’ taxpayers are, so the comparison is false.
Or please correct me…