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Friday, May 11, 2012

Too Big To Succeed

JP Morgan Chase has revealed a $2 billion trading loss.

For what it is worth - and it is worth almost nothing to me... blast! - I said that this is how it is all going to come apart: the global financial system will lose control of its own bodily functions, and it will succumb to its own form of Lou Gehrig's Disease.

The biggest illusion and scam running today is that the financial system knows what it is doing. I do not mean to imply they are stupid, but I do mean that they cannot handle the complexity they have built.

Since I will at some future time be presented with the check for their further debauchery, I am concerned.
As far as predicting it, the only good that comes from that is an impulse to keep my eye on the ball and nose to the grindstone, and try to establish some sort of sanctuary for the coming unpleasantness.


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