Ruffer: How Will The Enormous Debt Levels Be Resolved?

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Ruffer: How Will The Enormous Debt Levels Be Resolved?

How Will The Enormous Debt Levels Be Resolved? by Jonathan Ruffer, ruffer.co.uk

A passing bishop told me (and you’ll no doubt pick up its significance immediately) that the Romans had two words for the future: futurum, which they thought of as events which rolled away from one’s present circumstance, and adventum which were those surprising things which came towards you, and caused consternation or delight according to the extent of their benevolence. The adage ‘red sky at night, shepherds’ delight’ is based on futurum – the ability to use present facts to predict future events. It’s no good at telling next week’s weather, and it is possible that the observant countryman can see that any particular expression of red sky is not a prelude to weather delightful to shepherds. The Romans regarded the adventum as unknowable: pillage, plague, a cow wandering onto your allotment, twins. You were not in control – it came out of the blue.

With all respect to the Bishop, I think the Romans were wrong in their analysis. Many ‘unseeable’ events are, in fact,