The "present" should actually be constructed in terms of 3 strands: persistence of memory, foreshadowing of anticipated futures, and truly forgettable transience. Nostalgia selectively distorts the past, ignores the future, hedonism ignores the past, selectively distorts future.
Hmm that's an interesting alternate way. I don't think nostalgia discounts the present though. It discounts the dark side of the past, thereby losing itself in "hedonism" within the part of the present that's a persistence of the past. The present is not disjoint from past.
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