GLOBAL ECONOMY

Misery deepens for those in Puerto Rico who can't leave
Nearly 10 years into a deep economic slump, Puerto Rico is no closer to pulling out, and, in fact, is poised to plummet further.
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A man crosses a cobblestone street in the colonial district of Old San Juan, Puerto Rico, Sunday, Aug. 2, 2015. During the ongoing economic crisis, tens of thousands have migrated to the U.S. mainland. Crowds have thinned at restaurants and movie theaters; families have cut back on summer excursions to beaches and mountains; and even San Juans notorious traffic jams have dwindled somewhat. (AP Photo/Ricardo Arduengo)

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A homeless man stands in front of a closed down fast food restaurant in the colonial district of Old San Juan, Puerto Rico, Sunday, Aug. 2, 2015. As Puerto Rico's economy continues to decline a list of cost-cutting measures proposed by a group of hedge funds that holds $5.2 billion of Puerto Ricos debt has riled islanders: laying off teachers; cutting Medicaid benefits; and reducing subsidies to the main public university. (AP Photo/Ricardo Arduengo)

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In this Wednesday, July 29, 2015 photo, the Normandie hotel sits abandoned in San Juan, Puerto Rico. Closed since 2008 was originally opened on October 10, 1942 and Its design was inspired by the ocean liner SS Normandie. On August 29, 1980 was declared a national historic site and added to the National Register of Historic Places by the U.S. Interior Department's Heritage Conservation and Recreation Service. (AP Photo/Ricardo Arduengo)

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In this Wednesday, July 29, 2015 photo, a bronze statue of San Juan Bautista stands in front of Puerto Ricos Capitol as U.S. and Puerto Rican flags fly in San Juan, Puerto Rico. Mired in an ongoing economic crisis the government has tried to boost revenue by hiking the sales tax to 11.5 percent, higher than any U.S. state, and closing government offices. (AP Photo/Ricardo Arduengo)
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A homeless man stands in front of a closed down business in Puerta de Tierra in the outskirts of Old San Juan, Puerto Rico, Sunday, Aug. 2, 2015. Mired in a 10 year old economic crisis, Puerto Rico failed to pay a $58 million bond payment due Saturday. If defaults continue, analysts say Puerto Rico will face numerous lawsuits and increasingly limited access to markets, putting a recovery even more out of reach. (AP Photo/Ricardo Arduengo)

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Walter Martin prepares a coffee in his coffee shop in the colonial district of Old San Juan, Puerto Rico, Sunday, Aug. 2, 2015. With tens of thousand migrating out of the island and the with the economy tanking, Puerto Ricans are bracing for a new services tax set to take effect Oct. 1. Some economists warn that measures like new taxes could further depress the economy, a concern shared by small business owners. (AP Photo/Ricardo Arduengo)

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A private security guard sits in front of a closed down business in the colonial district of Old San Juan, Puerto Rico, Sunday, Aug. 2, 2015. In the ongoing economic crisis Puerto Rico's debt-burdened power utility already charges rates that on average are twice those of the mainland, and is under pressure from bondholders to raise them higher (AP Photo/Ricardo Arduengo)

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A costumer sits in the bar at the Aromas Coffee House in the colonial district of Old San Juan, Puerto Rico, Sunday, Aug. 2, 2015. Most tables are empty at the coffee shop owned by Walter Martin, where he has resorted to turning off the air conditioning to lower his power bill and keeping a tight rein on expenses. With fewer customers, hes cut staff hours and tried to make up the lost income by raising some prices. (AP Photo/Ricardo Arduengo)

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The U.S. flag flies in front of Puerto Ricos Capitol as in San Juan, Puerto Rico, Wednesday, July 29, 2015. Puerto Ricos entrenched economic crisis is leading people to either cut their personal spending to the basics or flee to the U.S. mainland to search for jobs, contributing to the struggles of those left on the island. (AP Photo/Ricardo Arduengo)

Misery deepens for those in Puerto Rico who can't leave

Nearly 10 years into a deep economic slump, Puerto Rico is no closer to pulling out, and, in fact, is poised to plummet further.

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