Sunday, October 29, 2017
The over active Hurricane Season-2
Already under a burden of nearly 120 billion in debt obligations to creditors and to its own citizens, Hurricane Maria was not what they wanted. The entire U.S. territory lost power and still is 70 percent without power after one month of hurricane. Since the citizens of Puerto Rico are also U.S. citizens, most of them who had relatives in the mainland United States took the first opportunity to fly to mainland since the government is not sure when the lights will come back on and when life will return to some sort of normalcy. The territory was already losing its young population and with this hurricane, it will lose more. Although after every disaster there are claims to build it much better than before but with so much debt and already having declaring bankruptcy, I don’t know if private investors will lend money to a bankrupt U.S. territory unless the loaned money is backed by U.S. Treasury. The recent is that the recovery is ongoing with water and electricity being restored, airport is completely open now but the beaches are closed due to fear of water contamination from sewage water. The tourist industry is not up and running yet as most of the big hotels are closed for repair and without electricity, getting generators to work is not going to help long term. Although some of the restaurants are open but it is hard for them to cook as the ingredients are hard to come by. Although it will take years to bring normalcy back to Puerto Rico but who is going to predict that next year will be find and hurricane free, we do hope they recover but the threat of hurricane will always remain and they have to guard against that threat now more than ever.