Big crash or big joke?

[jyy]

Seems like some make a living predicting doomsday. However, though, their predictions lately haven't panned out. Nonetheless, it is true many predicted the 2008 thing.

[Martin]

Macroeconomics comes under a lot of scrutiny for not predicting the 2008 crash, when economics isn't really about predicting the future. I watched a documentary recently which was about the idea of the next big financial crash being countries declaring bankruptcy all at once due to overspending. Not sure if it will happen, but it is certainly and interesting concept.