Very bad squeal

I have a very bad squeal coming from my XJ, its the harmonic balancer both rubbing against the timing cover, and wabbling while turning. What would do this? is it time to instal a new one? or is it the rubber isolater gone bad?

Thanks
Kenny

Looks like a new harmonic balancer is in order and make sure to change the front seal or it will leak.
Ive had to do it on 2 different XJ's and I can't seam to figure out why they made a split balancer in the 1st place.