“I know this can’t go on forever.”
This must be the nagging echo in the back of every politician’s and central banker’s head as they proceed down the incredibly long debt-paved road, arm in arm with their borrowed-money betrothed to… where, exactly?
And this is where the limitations of our species come to the fore. If something didn’t happen in our lifetimes, if we haven’t personally experienced it yet, we have a very hard time internalizing the lessons of the past in any real way.
I know The Great Depression happened. I know World War I and II happened. Can I act in ways today that are driven by the experiential difficulties and horrors earned in such dire circumstances by members of my own family, just a couple of generations ago?
- Source
This must be the nagging echo in the back of every politician’s and central banker’s head as they proceed down the incredibly long debt-paved road, arm in arm with their borrowed-money betrothed to… where, exactly?
And this is where the limitations of our species come to the fore. If something didn’t happen in our lifetimes, if we haven’t personally experienced it yet, we have a very hard time internalizing the lessons of the past in any real way.
I know The Great Depression happened. I know World War I and II happened. Can I act in ways today that are driven by the experiential difficulties and horrors earned in such dire circumstances by members of my own family, just a couple of generations ago?
- Source
