Proof that the Ruling Class is globally stupid:
President Barack Obama on Tuesday urged European countries and bondholders to prevent a “disastrous” default by Greece and pledged U.S. support to help tackle the country’s debt crisis…
…After a meeting with German Chancellor Angela Merkel, he stressed the importance of German “leadership” on the issue – a hint that he expects Berlin to help – while expressing sympathy for the political difficulties European Union countries face in helping a struggling member state…
We’ve got our own debt crisis. Chancellor Merkel’s political party is being hammered in local and regional elections over her involvement in previous bail outs. Greece already cannot repay the debt they have. And here comes Barack Obama – his solution? Offer more money we don’t have while urging Merkel to commit political suicide in order to prevent a Greek default. And all of this because the Greek and other “PIIGS” default risks are already causing economic problems, while an actual default will plunge the world in to recession…and thus plunge Obama in to extreme risk of losing next year.
To nutshell it – President Obama is more than willing to shove America further down the road to financial meltdown in order to prevent the Worst Thing: President Obama’s defeat.
How’s that hope and change thing working out for you?
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