Length Estimate: Medium (500 < words < 1000 )
Recently, the seventh largest shipping company in the world – Hanjin of South Korea – collapsed. The sources from which I get my news called it a Lehmann-esque event, referring to the collapse of American investment bank Lehmann Brothers in 2008 that prefaced the Great Recession. However, the issue has largely subsided after a brief spike of interest; if you hadn’t been keeping up with the news last week you would have missed that it happened altogether. There is, after all, a
farce presidential campaign going on and anything not immediately relevant to it is relegated to second-class citizen status.
This state of events raises questions about the people who determine what we get to consume as news, but this is not relevant to this post. The internet has allowed for an explosion of information and we naturally tend towards easy to digest, curated sources from dubiously objective and somewhat reliable “news” organizations. But it has also lead to an abundance of independent blogs that cover material often considered news-unworthy by these organizations. So, there is at least the opportunity to self-select yourself into knowledge that is more relevant than the latest report on how this-or-that important person holds this-or-that shocking belief.
Anyway, I digress. The collapse of Hanjin is not only not a one-off event, but it is indicative of a larger global situation that has received little coverage in the mainstream news outside of a few heterodox opinion columns.
Continue reading “Hanjin There”