Hat Tip to Holy Kaw.
These are the scariest words I’ve seen in a long time. I’ve been waiting for them. They are here. And, I have no idea what the world will do with them.
A variety of projections that extrapolate current policies and make plausible assumptions about the future evolution of the economy show a structural budget gap that is both large relative to the size of the economy and increasing over time.
— Ben Bernanke, Testimony Before the Committee on the Budget, U.S. House of Representatives, Washington, D.C., June 9, 2010 (third to last paragraph)
NYTimes Article HERE.
Oh, and yes, I’m still holding my short positions.
Those who cannot learn from history are doomed to repeat it.
– George Santayana, philosopher, poet, critic
I’m convinced that the recently released “Torture Memos” need careful reading.
I’ll be royal here for a moment.
“We” need to develop the skills to see through the veneer of rhetoric and “we” need to develop these skills now.
“We” need to take advantage of these relatively placid times in which we currently live to learn how atrocities can “spun” with labels such as “patriotism” and “national defense.”
“We” need to learn what spin looks like so that “we” are able to act with greater competence and vigor next time (and there will be a next time) someone in authority wants to throw human rights under the bus in favor of the “expedience” of the moment.
Find the Memos here (warning — 10MB PDF file) and…I implore you to do the patriotic thing on this so-called “Patriot’s Day”….learn.
There is nothing more that can be said than Hooray!Â Now…on with the hard work.
Here is a bit of Rumi for your Monday (via my lovely wife — thanks Paula for the patience and the help).
This being human is a guest house.
Every morning a new arrival.
A joy, a depression, a meanness,
some momentary awareness comes
as an unexpected visitor.
Welcome and entertain them all
Even if they’re a crowd of sorrows,
who violently sweep your house
empty of its furniture.
Still treat each guest honorably,
He may be clearing you out
for some new delight.
The dark thought, the shame, the malice,
meet them at the door laughing,
and invite them in.
Be grateful for whoever comes,
because each has been sent
as a guide from beyond.