Terrible news piles up in the financial world. The famous JP Morgan inexplicable $2B derivatives loss may be as much as $9B, making everyone wonder who is in charge. The obscurely infamous shifts in the London Interbank Overnight Rate (LIBOR) that signaled the start of the major financial collapse included a lot of manipulation and other illegal activity that’s only now coming to light. And China is experiencing a slowdown in manufacturing that is only deepening.
It all seems unrelated, and yet it all ties together in this thang called “Globalism” – what happens in one part of the world affects everyone. Yet there are few agreements and organizations that really have this tied together in a way that seems appropriate, at least making sure that corruption and disease in one place does not bring down the whole world. And this points to what will have to happen to get us all to start over again – something I have taken to calling “Jubilee”.