Michael Lewis’ 1989 Article: “How A Tokyo Earthquake Could Devastate Wall Street & The Global Economy”

Thursday, March 17, 2011
By Paul Martin

Gus Lubin
BusinessInsider.com
Mar. 16, 2011

A prescient article by Michael Lewis in 1989 looked at the systemic risk of a Japanese earthquake (via Paul Kedrosky).

Basically it goes like this. 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.

The Rest…HERE

Leave a Reply

Support Revolution Radio

For a limited time only, your donation get you a special perk. Every $30.00 donation gets you a fancy "say no to Government Hat". Every $20.00 donation gets you the same, but on a wonderful coffee mug. Just click the button below and give till it hurts...