Please also note that many people use the metaphor of a large-scale fire to explain the economic term of a “systemic” event. Thus her Majesty is worth quoting in more length: “1992 is not a year on which I shall look with undiluted pleasure. In the words of one of my more sympathetic commentators it has turned to be an ‘annus horribilis’.
I suspect that I am not alone in thinking it so. Indeed I suspect that there are very few people or institutions unaffected by the last months of worldwide turmoil and uncertainty.” According to various measures 2012 was a year of considerable systemic tensions.