Posted on 03/16/2011 7:23:39 AM PDT by SeekAndFind
CLICK ABOVE LINK FOR THE READ. This article was published in 1989.
A prescient article by Michael Lewis in 1989 looked at the systemic risk of a Japanese earthquake.
TO SUMMARIZE:
An earthquake destroys the Tokyo Stock Exchange and all financial records. Shares of Western insurance companies lead a global selloff. Japan liquidates overseas holdings. This causes the U.S. bond to collapse. Recession ensues.
Lewis observes that a huge earthquake devastates Tokyo roughly every 70 years or so For the past 400 years. 1923, 1853, 1782, 1703 and 1633.
Yup, Its the big one, come Lord!!
and no I was not speaking to you Uhbummer...stop looking in the mirror fool..
Thanks for posting this! I was at a meeting Monday and was talking to the Chief Economist of Oppenheimer Funds about that article. I told him it must have been 20 or so years ago when I read it, but still remembered it because it was so frightening and inevitable. Fortunately this earthquake affected the Northern part of Japan. If the epicenter was between Tokyo and Osaka, it would be unimaginable.
Any really important information these days is backed up far away.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.