Essentially the discussion centered around the markets remaining near their all-time highs as economic data remained soft. Much like the "300" that defended Greece against the massive invading force of Persia, it is only a question of time before the battle is lost.

As I discussed on Monday in "When Will We Ever Learn..."

"The capacity for optimism is seemingly limitless, but the "sting" of failure is quite transient.

hile it is in those failures that valuable lessons are taught, studies have shown that humans tend to suppress or substitute new memories over time.

George Santayana once said:

"Those who cannot remember the past are condemned to repeat it."

The phrasing itself certainly is catchy, and is often used in the financial media due to its underlying truth. If history is a guide to the results of previous actions, and those results were painful, then history should guide not only policy making (public and private) but our own behaviors as well.