Wednesday, September 17, 2008

Cassandra Weeps

The sense of security more frequently springs from habit than from conviction, and for this reason it often subsists after such a change in the conditions as might have been expected to suggest alarm. The lapse of time during which a given event has not happened, is, in this logic of habit, constantly alleged as a reason why the event should never happen, even when the lapse of time is precisely the added condition which makes the event imminent. A man will tell you that he has worked in a mine for forty years unhurt by an accident as a reason why he should apprehend no danger, though the roof is beginning to sink; and it is often observable, that the older a man gets, the more difficult it is to him to retain a believing conception of his own death.
"George Elliot"

For all those who were thinking, "we keep hearing about this stuff but the disaster never strikes," consider the above passage, watch CNBC, and read below.

BEIJING (Reuters) - Threatened by a "financial tsunami," the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday.

More later....I'm going for a walk to get my thoughts together.


STS said...

Gold says INFLATION today ;)

Daniel said...

I agree with the Chinese fellow, but will this new order be built without the objection of the States? Or in peace? Doubt it...