John Maudlin has republished two papers this week. The second one is a recent essay by Jeremy Grantham (which you can also find on his GMO website (registration required).

The title of Grantham’s piece is “It’s Everywhere, In Everything: The First Truly Global Bubble (Observations following a 6-week Round-the-World Trip)” and provides a warning to just how connected everything is becoming. You can almost see the forming of the “lines of instability” that John talked about last year.  The hypothesis is that the longer things remain stable, the more interconnected everything becomes so the smallest trigger can become the cause of massive disruption.