Tuesday, August 10, 2010

The Daily Note - Don't Ignore Reality

Wishful thinking and ignoring reality may take us for a nice ride, but eventually we all have to wake up and face reality. This economy is stuttering and has been trying to tell us that the solutions we have employed, supported and some embraced are at best driving it further into a difficult situation.

While many have been happy to bash the CEO of BP for failing to act soon enough about the oil leak, most do not realize that it takes time to solve a catastrophe never before encountered.

It seems that those very same people however, despite evidence to the contrary, insist on using measures that have been tried and found wanting in order to solve a catastrophe which has happened before.

With endless patience the relentless critiques of one, refuse to truly critique the other, even though the bigger damage is done by those not being held up to be accountable.

Interesting part of human nature regarding finances is that most just do not wish to admit lack of knowledge, failure and defeat about the method they have been using to create wealth. Many traders suffer the same and perhaps what they do is reflected in how others act. After all we need to change ourselves before we can expect others to change.

It may be finally time to wake up, if truly we do not wish to dream ourselves into deadly stupor.

Happy Trading, Living and Dancing

The Daily Pick -

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