And a lot of the posturing of the Greek government is just that - posturing or political theater. The Greek government has to appease their constituency by appearing to be holding off the evil Angela Merkel, while at the same time, coming to the bargaining table and offering concessions, as was the case today. So we hear a lot of brave talk and meaningless referendums, followed by concessions. It seems that maybe the Greeks really don't want to exit the EU after all.
As I noted in Awfulizing and Fear, I have been told since the day I was born that the economy was on the brink of collapse. In the 1970's, we were told that the world would "run out of oil" by the year 2010. When I went to GMI, the professors told us the era of powerful muscle cars was gone for good. Both predictions turned out to be wrong. In fact, a lot of these predictions turn out to be wrong - on a large scale.
In the 1970's, we were told that New York City was going to go bankrupt. If you visited the city, you would get mugged. Crime was rampant, subway cars were covered with graffiti and no one gave a shit. Porno theaters dominated Times Square. Today, Times Square is an extension of Disney World. Things can change - and change for the better.
Fear is not an emotion to be trusted. And when people start to crank up the fear, you should think carefully about why they are doing this. Usually, it is an attempt to exploit you in one way or another.
Fear, however, often disguises opportunity. When fear causes people to exit the stock market or the housing market, it is often a good time to buy. Fear can be useful, as when people are fearful, they make stupid mistakes. You can profit from this, if you are astute.