In this video, I talk with author and economic analyst John Sneisen about the massive food shortage people are facing in Puerto Rico as the island struggles to get their electric grid back up and running.
The government monopolized, outdate electric grid has shown the government to be just what the government is best at being, inefficient. Due to this inefficiency, people in Puerto Rico are only buying small amounts of food (enough to last them a day) as perishables go bad quickly.
If the free market were to step in, the grid would likely be up and running by now, but instead the debt plagued island is taking forever to reboot the system. In fact the executive director of Puerto Rico’s public electric utility stepped down Friday as Whitefish energy has ceased their work restoring electricity on the island after spending $83 million which they have not yet been paid back for.
Whitefish CEO Andy Techmanski told CNN that repeated requests for agreed payments were not met and there was no choice but to suspend work.
Puerto Ricans were already leaving the island in huge numbers as the island faced a massive debt crisis which has led to bankruptcy.
Government dependence always leads to tragedies like this. Following Hurricane Maria which devastated the island, people generally weren't prepared. This is why we push for free markets rather than state run enterprise as with the state, there's no real incentive for quality, competition or innovation.
It's always best to be over-prepared than under-prepared and we truly hope that the people of Puerto Rico who we send our prayers to have come to understand this. Puerto Rico has a long history of strength and working through natural disasters by working together and prevailing together. This time, the government and its regulations have left the island in desperation and this needs to serve as a difficult but well understood lesson going forward.
Individuals thrive. Government decimates and forces people into servitude. Choose freedom.
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Can't believe they are still without power, All the more to always prep
America should be more responsive at helping Puerto Rico. Trump is not good at the job. Things will be better when he is out and Puerto Rico will be much better then.
Agreed Trump is not good at responding to the Puerto Rico crisis. That being said, no government is good at responding to a crisis like this. The best thing that could happen is for the government to get out of the way and let free market and the people respond to the crisis.
Some nice piece of information !
There are so many problems such as corruption and the US colonial attitude toward the island. I hope the future will be better. There are opportunities for better infrastructure in the long term. For example Tesla may help rebuild the electrical grid. http://fortune.com/2017/10/23/tesla-could-be-tapped-to-rebuild-puerto-ricos-electrical-grid/
The other problems I see is that humans don’t seem to be interested in producing their own energy . Take a windmill for example . It isn’t a very sophisticated piece of machinery , and you can make one in an our out of old electric motors or an alternator from a car . The other great resource is of course the sun , and if everyone used their roofs to make energy just imagine how much energy that would make . Take a look at our power grid system don’t you think many of those towers holding the lines could carry some kind of windmill on it ? I hear the wind whistling through those wires way up high and I can’t help but think of how much energy could be made . I think we have to look at the way we’re doing things and try new ways cuz the old ways are KILLING us !
Wow, this is sad and so so wrong. We have this country(US) in other countries trying to keep the peace, involving ourself'ves. Sending our brothers, sisters, mothers and fathers overseas .Spending billions to help maintain another country, and the same people(US government) cant even help recover when tragedy hits home.
Thats sad. And god bless all of puerto rico.
Oh no... I hate empty stomach.
No way
The Trump regime is just blackmailing them and then abandoning them completely. Check my latest post on US Virgin Islands hit by the same hurricanes:
My names Ivan Martino I live in Bayamon Puerto Rico I have electricity and I have water but we need more people are leaving to the US 38 student left for the US in my school and more are expected the federal government needs to do something or the island will become a failed state WE NEED HELP before our economy fully collapses
Good that you have water and electricity, unfortunately not like those near you on St. Croix..
Great article. keep up the good work! Puerto Rico has mostly fallen out of the media it's nice to see someone still covering the issues going on there.
Your post is so beautiful .I like your post.If you like my post,then give me a vote from you.
Can’t say I know much about the Puerto Rican government, but it sounds far too socialist to me.....
Cryptos can’t help when the grid is down! But I bet u can buy anything u need there with gold & silver right now!
LOL. Gold!!
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Omg what about bitcoin
Are you two Winnipegers?
Speaking of infrastructure, remember a couple of years ago when all of Winnipeg's water pipes were freezing? Thousands went without water for months. Crazy.
What happened to the grid system that tesla was going to put in place?
This is why people need to invest in being self reliant and self sufficient. I think every home should have an electric wind turbine.
This post has been resteemed by @afm007
Thanks, for good post.