Friday, June 24, 2011

Demitte Nobis Debita Nostra

"Oh Lord, we confess that we have sinned as a state and as a people in the management of the economic and monetary benefits entrusted to us," prayed His Grace Bishop Anthimos of Thessaloniki, quoted by The Globe and Mail's Michael Babad — Greek prelate: We sinned on debt, but who’s without sin?

Noting that His Grace added that "no one is perfect and without sin on Earth," Mr. Babad reminds us, "Certainly not the United States, Japan, Ireland, Portugal, etc." Of course, incurring a debt is, if anything, venial, but running an economy based on debt is mortal, literally as we now know.

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OpenID danightman said...

Alas, the issue with economies based on debt, which is what a fiat currency based economy is, puts itself in the hands of merciless nature.

It reduces all choice to random nature, and while God always forgives and man sometimes forgives, nature is implacable.

Nature never forgives.

BTW, doesn't this also prove the ancient Greek idiom, "Hubris begets nemesis."

12:34 AM  
Blogger The Western Confucian said...

Well said.

3:27 AM  

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