%0 Journal Article %T The Past and the Future in the Present %A James P. Crutchfield %A Christopher J. Ellison %J Mathematics %D 2010 %I arXiv %X We show how the shared information between the past and future---the excess entropy---derives from the components of directional information stored in the present---the predictive and retrodictive causal states. A detailed proof allows us to highlight a number of the subtle problems in estimation and analysis that impede accurate calculation of the excess entropy. %U http://arxiv.org/abs/1012.0356v1