Posted on 06/29/2015 12:59:47 PM PDT by Sean_Anthony
The Greek market may be shocked and defaults of various debt instruments may emerge.
While Americans are eagerly signing petitions to ban the American flag on the heels of Louis Farrakhan’s Nation of Islam leader call to ban the Stars and Stripes “due to its links to racism” or are busily banning anything attached in any way to the Confederate flag and our history, the United States and the world are in serious financial trouble driven by out-of-control debt, particularly the most visible nation of all, Greece.
Healthcare for illegals, gay marriage, and other non-stop crises occupy American overwhelmed minds, while the Trojan Horse of huge national debt and loss of sovereignty to the globalist Transpacific Partnership (TPP) mystery “committee” are ignored.
Greece is bringing to the forefront the issue of debt, what happens when it spends 60 percent of GDP, lives from borrowed billions, and refuses to curtail spending on entitlements, expecting more bailouts from the EU, essentially Germany.
Banks and the stock exchange are closed for the week, issuing a 60 euros limit per withdrawal. Not unexpectedly the euro fell against the dollar and the British pound. Sky News reported Prime Minister Alexis Tsipras as blaming the European partners and the European Central Bank for the debacle because creditors “have refused a request to extend Greece’s international bailout beyond Tuesday, until after the referendum.” The move risks a Greek default on 1.5 billion euros payment to the International Monetary Fund.
Are we going to bail out Puerto Rico which has announced it is insolvent?
Obama said no ‘bailout’ today, but wants congress to change the bankruptcy law for PR so the bond holders take the hit.... Which of course a bailout. It’s robbing Pedro to pay Paulo
Exactly how the government violated the bankruptcy laws to give a special deal for Government Motors to protect the unions but screw all the shareholders and creditors.
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