Puerto Rico: 11 years in recession and now no electricity

by Patrick Gillespie

Puerto Rico is already in an 11-year economic recession. Now it must start rebuilding after Hurricane Maria left the island knocked out flat.

The island was completely without electricity Wednesday.

“This is total devastation,” said Carlos Mercader, a spokesman for Puerto Rico’s governor. “Puerto Rico, in terms of the infrastructure, will not be the same.”

The total extent of the damage isn’t known yet, but the visuals are telling: Roofs blown off, flooded streets, shattered windows, debris and remnants of palm trees strewn about. It was the strongest hurricane to hit the island since 1932.

Read the full article here: http://money.cnn.com/2017/09/20/news/economy/puerto-rico-maria-rebuilding/index.html

Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.