This morning I awoke to the news that Obama will be nominating Ben Bernanke for another turn at the helm of the Federal Reserve.

My only commentary would be that if you are a self-described futurist and misread the most basic economic trends for your clients, you won’t be called up for more fame and success. At some point, your bad forecasts need to call into question your methodology, and indeed, your competence.

I would say that the reason we don’t replace Bernanke despite his malpractice is that our current crop of leaders are defending our current institutions at all cost, and Bernanke plays well at that game.

Leaders need to ask themselves, do they want institutions that thrive in future realities, or ones that exist DESPITE those realities? Only our most senior leaders can make such a choice, and right now they are choosing the latter.