Podcast Summary: Noticias con Calle – January 21, 2026

Host: Jay Fonseca
Podcast: Noticias con Calle
Episode: PODCAST LAS NOTICIAS CON CALLE DE 21 ENERO DE 2026
Date: January 21, 2026

Overview

In this episode, Jay Fonseca delivers his daily roundup of the most impactful news affecting Puerto Rico and beyond. The main themes touch on global economic instability (especially the drop in the value of the US dollar), local government controversies regarding security for ex-governors, the housing market, ongoing delays in Puerto Rico's energy sector transformation, controversial fiscal reforms, and much more. Jay’s tone is critical, passionate, and often indignant, reflecting both frustration with politicians and a desire to inform and mobilize his audience.

Key Topics & Insights

1. Global Economic Tensions and the US Dollar Crisis

• [02:00] Jay points to a significant drop in value for the US dollar, citing recent data from the Financial Times and explaining the chain of events:
  • The Trump administration’s trade policies, including threats of tariffs against Europe and ongoing uncertainty about the president’s authority to impose them.
  • Instability in Japan’s 40-year bonds, with Japan being the top buyer of US Treasury bonds.
  • The European Union is threatening to offload US Treasuries if trade confrontations escalate, which could deliver a "bazooka" hit to the dollar’s value.
• Quote:
  “Así que esta amenaza y amenaza y amenaza ha puesto al dólar en una posición de desventaja y baja el valor del dólar. Eso significa que si baja el valor del dólar, pues las cosas te salen más caras, ¿verdad?” – Jay Fonseca [04:10]

2. Puerto Rico’s Political Priorities: Security for Ex-Governors

• [07:10] Jay criticizes the Puerto Rican legislature’s ongoing focus on police escorts for former governors while other pressing economic issues mount.
  • Recent bills neither remove security details nor represent best practices in the US.
  • Only Puerto Rico provides ex-governors with ongoing escorts; no other US state does.
• Quote:
  “Ningún estado de la nación le da escolta a los exgobernadores, ninguno... Solo Puerto Rico. Véanlo para que les dé vergüenza.” – Jay Fonseca [09:30]

3. Police Shortages and Public Safety Concerns

• [10:50] Emphasis on a net decrease of 900 police officers in the last year, despite recruiting efforts.
  • Perceived government spending priorities are misplaced: escorts for officials over core police functions.
• Memorable Moment:
  Jay’s exasperation peaks as he underscores existential governmental responsibilities:
  “¿Para qué existe el gobierno? ... La razón por la cual existe un Estado... era para darle seguridad a la gente. Lo más importante es la seguridad. 900 policías menos.” [11:52]
  • Calls for offering higher police salaries (~$6,000–$7,000 per month) if serious about recruiting and retention.

4. Critical View of Homebuying Incentives (“Vales”)

• [18:00] Jay critiques the recurring local policy of incentivizing home purchases with direct grants or “vales” (up to $60,000 per buyer), arguing it simply inflates housing prices in a market with insufficient supply.
  • Speaks from years covering this “populist” approach, which he argues exacerbates the cost-of-living crisis and mirrors past housing bubbles.
• Quote:
  “Ya llevamos $700 millones en este relajo... lo que eso provoca es que una casa que valía 100.000, te la suben a 160.000. Ya las casas están caras porque no hay oferta, hay mucha demanda…” – Jay Fonseca [19:45]

5. Energy Policy: Wasted Production, Megabatteries, and Corporate Interests

• [22:30] Puerto Rico produces 200–400 MW daily in energy reserves that get wasted instead of being stored due to lack of battery infrastructure (“megapacks”).
• Jay contests that the slow deployment of battery storage is in the interests of fuel suppliers who profit from continued gas combustion.
• Quote:
  “Seguimos quemando combustible... porque así le compramos más gas a Genera. Me perdonan pero yo no soy brillante... ¿cómo somos tan morones?” – Jay Fonseca [27:52]

6. Reforma Contributiva: “Alivios” Fiscales y Nuevos Impuestos

• [33:00] Jay denounces the latest tax reform package for introducing new taxes under the guise of relief:
  • Proposed new taxes on solar panels (affecting ~140,000 households) and hybrid/electric cars.
  • Argues that while these seem targeted at “the rich,” mass adoption is coming, so most people will eventually pay these new taxes.
• Quote:
  “La gobernadora dice para darte 550 millones en tus planillas tengo que quitarte 18 de tu bolsillo... ¿Eso tiene sentido para ti? ¿Tiene lógica eso?” – Jay Fonseca [34:50]

7. Corporate Tax Rates and Lack of Incentives for Business

• [42:35] Jay highlights Puerto Rico’s position as the jurisdiction with the second highest corporate tax rate globally, deterring investment.
  • Local businesses will not benefit from the tax reform; relief is mainly for individuals.

8. Other Notable News

• [44:30] Donald Trump attends World Economic Forum in Davos after a plane malfunction temporarily delayed him.
  • US Congress considering a ban on using armed forces for the acquisition of Greenland.
  • US seized another Venezuelan oil tanker and sold 500 million in Venezuelan oil, returning 300 million in cash to Venezuela.
• [47:30] Carlitos Beltrán’s induction into baseball’s Hall of Fame is celebrated:
  “Qué bueno es Carlitos Beltrán... los números estaban ahí, top 5 de switch más exitoso en la historia.” – Jay Fonseca

9. Government Employment, Nepotism, and Privatization Efforts

• [49:50] Discussion of legislation to allow mayors to privatize certain municipal services—met with concerns about potential corruption.
  • Jay details how nepotism is effectively legal in the legislature, as lawmakers can hire family and other lawmakers’ relatives without violating existing codes of ethics (which they define themselves).

Memorable Quotes & Moments

• On Legislative Escorts:
  “Ningún estado de la nación hace eso. Los estados ricos, billonarios y trillonarios en su economía, ni ellos lo hacen.” [09:47]
• On Housing Policy Incompetence:
  “Somos tan morones que volvemos a cometer el mismo maldito error… esto todo el mundo lo sabe, esto no es ningún secreto. Esto es oferta y demanda básica.” [21:52]
• On Energy Industry Conflicts:
  “¿Se ha preguntado por qué no ponemos baterías? Porque eso provoca que gastemos más gas y compremos más gas, así que las empresas que venden combustible nos ven como una mina de oro.” [26:15]
• On Tax Reform (Impuestos Placas Solares y Carros Híbridos):
  “Como ahora el impuesto no te clava a ti, pues tú dices que lo pongan, pero te va a clavar el año que viene o el otro...” [37:16]
• On Corporate Taxation:
  “Puerto Rico paga la segunda tasa más alta del mundo... ¿Qué mensaje usted está dándole al mundo con usted por una tasa así de alta?” [42:45]

Timestamps for Key Segments

• 00:00–01:45: Introduction, sponsor message (skipped content)
• 01:45–07:00: Dollar crisis and global economic tensions
• 07:00–12:10: Security details for ex-governors and police workforce decline
• 12:10–18:00: Discussion on allocation of government resources and security as a primary government function
• 18:00–22:30: Homebuying incentives and their market distortion effects
• 22:30–33:00: Wasted energy production, delayed battery infrastructure, and vested interests
• 33:00–44:30: Tax reform, new taxes on solar and hybrid vehicles, future implications
• 44:30–49:50: Other news: Trump in Davos, Venezuela oil, Hall of Fame for Carlitos Beltrán, privatization and nepotism
• 49:50–End: Wrap up, preview of premium content

Tone & Takeaway

Jay Fonseca’s style in this episode is direct and hard-hitting, blending news summary with a critical—and at times exasperated—commentary on the actions (and inactions) of local politicians and policy-makers. He urges listeners to look beyond official narratives, question populist solutions, and remain vigilant to reforms that may appear beneficial but conceal long-term costs. Jay concludes, as always, advocating for public accountability and offering a brief invitation to visit his premium content for deeper dives.

Summary prepared for those wishing to grasp the major themes, news items, and ongoing debates in Puerto Rico as presented by Jay Fonseca, January 21, 2026.