Submitted by Tyler Durden on 06/19/2011 22:35 -0400
* European Central Bank
* Eurozone
* Greece
* Guest Post
* Ireland
* Reality
* WABC
Submitted by Charles Hugh Smith from Of Two Minds
The Only Way Forward Is to Accept Reality: Default Is Not the End of the World
The catastrophe isn't default, it's "extend and pretend."
Unwelcome crises are part of life. What's unnatural isn't crisis, it's pretending that life should be nothing but a smooth, uninterrupted rise in consumption.
Yes, I'm talking about Greece and the EU. The situation is somewhat analogous to finding out your total cholesterol is over 300. Gee, I thought I was eating well, and was in pretty good shape... alas, that was all wishful thinking; normal is 180. At 300, you're at serious risk of long-term health problems.
So the European Central Bank injects 120 billion euros of "medicine" to cure you, and a year later your cholesterol readings are 395. Hmm. The "medicine" didn't work; instead, it actively prolonged and deepened the crisis.
Humans need time to accept new realities, and
http://www.zerohedge.com/article/guest-post-only-way-forward-accept-reality-default-not-end-world?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
| 