Well if all of the for sale signs wasn’t enough evidence for you, it looks like the whole credit mess is hitting Puerto Rico as well.  Banco Popular’s first quarter profit dropped 13 percent.  This made the stock go down to  $11.15.  The article goes on to say that the stock is a good value as Puerto Rico’s economy is expected to pick up.

I don’t know if I have that same view.  Ever since I have lived here in PR (2.5 years), I have always thought the economy was sliding even before the whole credit scare.  I expect the Puerto Rican economy to start falling.  The economy obviously isn’t near as strong as there are only 4 million people on the island.  Most money spent on the island leaves quickly because every store is now a US corporation.    So it takes a while to build up the local economy.