Via: Sovereign Man
by Simon Black on March 27, 2013
Reporting from Santiago, Chile
One would think that certain truths are obvious by now.
It should be obvious, for example, that there are consequences to living beyond your means.
It should be obvious that there are consequences to a long history of spending unsustainably and accumulating mountains of debt.
And it should be obvious that there are consequences to dealing with such problems by spending more and accumulating even more debt.
It should be obvious. But it’s not.
In Europe, politicians are hailing their responses to the Cyprus crisis as a success. They pretend like everything is OK, notwithstanding the capital controls now imposed.
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