Barack Obama Promises That Events In Greece And Puerto Rico Will Not Cause A Global Financial Crisis

Barack Obama says that we shouldn’t be alarmed by what is happening over in Greece. On Tuesday, he told reporters that this ‘is an issue primarily of concern to Europe’ and that ‘I think the markets have properly factored in the risks involved’. And apparently Obama is not too concerned about the debt crisis in Puerto Rico either. In fact, the Obama administration has already completely ruled out any sort of federal bailout for the island. Barack Obama is assuring us that everything is going to be just fine and that we are not headed for another global financial crisis. So is he correct?
I had to smile when I saw a Politico article today with the following headline: ‘Barack Obama on Greece: meh’. While admitting that this crisis is likely to be ‘very painful for the Greek people’, Obama just doesn’t seem to be impressed by the threat that this crisis poses to the global financial system as a whole…

This post was published at End Of The American Dream on June 30th, 2015.

 

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