Our Geniuses at Work- Don’t Worry they got it Covered

This was posted on a site I frequent, it was authored by W. Ben Hunt, PH.D. He is the author of Epsilon Theory and Chief Risk Officer for Salient Partners, an Asset Management Company in Houston, Texas managing 22.1 Billion in capital. You can read the original here. I am copying the whole thing because to try to just except will not do it justice.

Ebola And Calvin the Super Genius by Salient Partners

People think it must be fun to be a super genius, but they don’t realize how hard it is to put up with all the idiots in the world.

? Bill Watterson, “Calvin And Hobbes”

Here is the most fundamental idea behind game theory, the one concept you MUST understand to be an effective game player. Ready?

You are not a super genius, and we are not idiots. The people you are playing with and against are just as smart as you are. Not smarter. But just as smart. If you think that you are seeing more deeply into a repeated-play strategic interaction (a game!) than we are, you are wrong. And ultimately it will cost you dearly. But if there is a mutually acceptable decision point – one that both you and we can agree upon, full in the knowledge that you know that we know that you know what’s going on – that’s an equilibrium. And that’s a decision or outcome or policy that’s built to last.

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Indulgences, forgiveness and moral excuses

Progressives see religion, especially Christianity with disdain. The see those who follow religion as superstitious ignoramuses who are either mislead or worse Conservatives. But for all the disdain and loathing that Progressives aim at the religious they sure like to misuse and misinterpret religious doctrine for themselves.

Take the use of indulgences, what are indulgences? From the Vatican site:

“An indulgence is a remission before God of the temporal punishment due to sins whose guilt has already been forgiven, which the faithful Christian who is duly disposed gains under certain prescribed conditions through the action of the Church which, as the minister of redemption, dispenses and applies with authority the treasury of the satisfactions of Christ and the saints.”

“An indulgence is partial or plenary according as it removes either part or all of the temporal punishment due to sin.” Indulgences may be applied to the living or the dead.

In Medieval times indulgences were paid to the Catholic Church to wipe/minimize or atone for the sins committed during their lifetime. This doctrine as with many others got corrupted to the point the indulgences were sold to the highest bidder. Doing penance for your sins, if you could build a new wing to the cathedral an official certificate would be given for your penance. Your parents are long dead but they may not have been able to receive last rites or a confession to be absolved of their sins before dying, you could now pay or buy an indulgence for them and spare them the suffering in purgatory or in some cases Hell.