“The big one“ is the term used for the gigantic California earthquake that seismologists have been expecting for several decades. “The big one“ could also be an appropriate description of the coming and unavoidable collapse of the global financial system, Ernst Wolff writes.
“Both events have one thing in common: We know that they will occur, but we cannot exactly predict when. Other than these parallels there is one decisive difference: Whereas only seismologists can understand tectonic movements, you do not have to be a trained economist to grasp the basic workings of the financial system. So let’s take a look at its historical development in order to try to determine where we currently stand.”
Ernst Wolff also spans current times in his article.