Tag Archives: Puerto Rico

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The Jones Act

Author: David R. Kotok, Post Date: October 8, 2017
Cumberland Advisors Market Commentary by David Kotok

A Jones Act replacement law could achieve the national defense purpose in times of emergency but not impose higher costs and procedural delays such as we saw for a week during the Puerto Rico crisis. We should also bear in mind that Puerto Rico has been hurt by the Jones Act for decades.

Puerto Rico Needs a Plan

Author: , Post Date: October 7, 2017

After President Trump suggested the commonwealth’s $74 billion in debt would be wiped out, bonds took a hit. What’s next?

Trump sends Puerto Rico bonds reeling

Author: , Post Date:

The stock market has gotten pretty good at discounting some of President Trump’s more freewheeling rhetoric on North Korea, taxes and other issues. But the bond market had no idea what to make of Trump’s comments late Tuesday that the U.S. might have to wipe out Puerto Rico’s $74 billion in publicly held debt. Cumberland […]

President Trump’s Puerto Rican Debt Comments Have Spooked Investors

Author: , Post Date:

Excerpt below: “The biggest risk for Puerto Rico and the creditors is that the rebuilding of basic infrastructure takes so long that the out-migration worsens, and you see people put roots down in other places,” said Jim Millstein, CEO of financial advisory firm Millstein & Co. Millstein recently advised Puerto Rico on managing its debt. […]

A Marshall Plan for the Caribbean

Author: David R. Kotok, Post Date: September 24, 2017
Cumberland Advisors Market Commentary by David Kotok

“George Catlett Marshall, Jr. (December 31, 1880 – October 16, 1959) was an American statesman and soldier. He was Chief of Staff of the United States Army under presidents Franklin D. Roosevelt and Harry S. Truman, and served as Secretary of State and Secretary of Defense under Truman.” Source: Wikipedia. His brilliance on behalf of […]