On the eve of the like collapse of the Greek economy and its likely pull out from the European Union, first lets get the cliche out of the way: “When America Sneezes, Europe catches a cold.” And it looks like Greece caught a bad flu.
Yes, boys and girls, the Greeks were Greeked by the Obama-Conomy. All you have to do is look at the chart below from an article in the Telegraph. The Bush years were good for the Greeks, not so the Obama years. There was no ‘recovery’ in Greece, ever. Greece actually kept humming along after the U.S. housing collapse, with former President George W. Bush’s last year, 2008 being their highest GDP year (look at the red bars in the chart).*
But beginning with Obama’s first year in office, 2009, the Greek ship started to sink.
*As for the housing collapse, it was not caused by President Bush, a lie those on the left have repeated many times. It was caused by the bad policies mandated by Democrats under President Clinton, The Community Reinvestment Act, where thousands of U.S. mortgage holders should have never been given mortgages in the first place, and banks were forced to lend out money to just about any and every dead beat that came along. Read more about that here