Category: Immigration

Boojum: The ‘new’ problem of immigration

2 December, 2016 (09:00) | Housing, Immigration, Markets, Remittances, Ross Macdonald | No comments

  By: David A. Smit     From Border Incident, 1949   I told him about the closed blue truck, the brown men of the temple. “Troy is the head of the gang.  The others work for him.  They’re been running an underground railway on a regular schedule between the Mexican border and the Bakersfield […]

America’s Greece? Part 5, Six for six on advantages

7 August, 2015 (10:00) | Capital markets, Default, Euro, Finance, Greece, Immigration, Municipal bankruptcy, Puerto Rico, Recapitalization, Sovereign bankruptcy, Sub-sovereign entities, US News |

[Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.] By: David A. Smith By now readers will have gleaned that by contrast with Greece, which wanted its debts restructured (but when it came to the crunch wasn’t willing to flip the switch and go drachma), Puerto Rico not only […]

America’s Greece? Part 4, A friend of the debtor is a friend of mine

6 August, 2015 (10:00) | Capital markets, Default, Euro, Finance, Greece, Immigration, Municipal bankruptcy, Puerto Rico, Recapitalization, Sovereign bankruptcy, Sub-sovereign entities, US News |

[Continued from yesterday’s Part 3 and the preceding Part 1 and Part 2.] By: David A. Smith In these earliest days of Puerto Rico’s unofficial bankruptcy, the offstage maneuvering is taking place; aside from posturing and various legal salvos, negotiations will take place, but as long as bankruptcy is unavailable, the restructuring will be catch-as-catch-can […]

America’s Greece? Part 3, Better hired at five than not hired at seven

5 August, 2015 (10:00) | Capital markets, Default, Euro, Finance, Greece, Immigration, Municipal bankruptcy, Puerto Rico, Recapitalization, Sovereign bankruptcy, Sub-sovereign entities, US News |

[Continued from yesterday’s Part 2 and the preceding Part 1.]   By: David A. Smith As the two earlier posts have shown, Puerto Rico is insolvent, and in default, and its history of continuous budget deficits, some of them quite large, going back fifteen years demonstrates that the problems are structural, not simply financial.  In […]

America’s Greece? Part 2, Shedding jobs for years

4 August, 2015 (10:00) | Capital markets, Default, Euro, Finance, Greece, Immigration, Municipal bankruptcy, Puerto Rico, Recapitalization, Sovereign bankruptcy, Sub-sovereign entities, US News |

[Continued from yesterday’s Part 1.] By: David A. Smith As we saw in yesterday’s Part 1, Puerto Rico’s insolvency is of roughly the same dimensions as Greece’s, but whereas Greece is temporarily in inter-crisis mode, the last one having been agreed and not yet declared a failure, and the next not yet contemplated, Puerto Rico’s […]