Psychology of Denial

And I get on my knees and pray
We won't get fooled again
--The Who

With Greek citizens clamoring for cash after capital controls have restricted access to bank accounts, the obvious question to ask is: Why didn't these people act sooner? Because the Greek problem has been miles wide and easily recognizable for years, any rational person would have emptied their bank accounts a long time ago.

One factor at play here is the psychology of denial. Funded by impediments of cognitive dissonance, people maintain a failing course of action in the face of evidence suggesting that change is necessary.

How many people in the US are acting to protect themselves against a dollar collapse in the face of the most profligate central banking policies in history?

The socialistic problems of Greece are headed to a shore near you. And you know what? Odds are people once again won't be prepared despite copious signals signals.