Venezuela crisis intensifies with default

By WAYNE DELUCA Credit agency Standard & Poor has ruled Venezuela in default after the country missed $237 million in scheduled bond payments. This comes amidst an economic crisis with official inflation around 4000% and price increases well over 1000%. President Nicolás Maduro’s attempt to restructure is hindered by sanctions that stop U.S. banks from…

Disaster capitalism rages in Puerto Rico

By KEITH LESLIE “The only thing we need now is a hurricane.” These were the words of a financial advisor in Puerto Rico this summer, anticipating the business opportunities the devastation of a hurricane would produce. This framework—which understands disaster as an opportunity for profit—is not unusual. As Naomi Klein showed in her famous book,…

Hurricane disaster in Puerto Rico: U.S. aid is slow and insufficient

Soon after hurricane Irma devastated islands in the Caribbean and parts of Florida, Socialist Action reporter Ernie Gotta interviewed Omar Pérez Figueroa about the effects of the storm on Puerto Rico. Gotta followed up with Perez after hurricane Maria decimated the island. Pérez, a native of Puerto Rico, is a member of the Juventud Hostosiana, the youth…

Irma lands a heavy blow on Puerto Rico

Soon after hurricane Irma devastated islands in the Caribbean and parts of Florida, Socialist Action reporter Ernie Gotta interviewed Omar Pérez Figueroa about the effects of the storm on Puerto Rico. Pérez, a native of Puerto Rico, is a member of the Juventud Hostosiana, the youth group of the Hostosian National Independence Movement. He is an…