for years now 2 well known german economists and matteo spike have been warning about the next big crash not just an economic one but also a political and social crisis many of us suspected it was overdue after an historically long bull market a correction was surely coming but this has turned into a crash and we're now deep into bear market territory so were the 2 german forecasters right about the unprecedented challenges to the global financial order or were they just banking on alfie is and the inevitable my colleague met up with them. a state of emergency on global stock markets it's a catastrophe that could and are worse than the stock market crash of 929 that's according to bestselling authors and economists mark treats me like. it's it's it's over the comp to anything it's a natural law and you. can't print so much money as they want they won't stop the crisis it's happening. or you'll prices have collapsed by a 3rd today or lowest level in 30 years kicked off by the coronavirus all over the world markets. their latest book is called the biggest crash of all time. they have predi

spiking up the curve. >> we are live in the south bay. nbc bay area. >> thank you. san matteo county, making a major announcement and change that impacts people from other counties as well. as of 6:00 p.m., so, four minutes ago, all county parks which include many of the beaches, are closed. it's part of a bay area wide push to keep crowds from gathering like what we saw happened last weekend. in san francisco, similar measures. parking lots in several beaches and open space areas are closed and barricaded. that includes parking lots for the marina green. ocean beach and the mayor said they don't want to get to the point where they are closing the parks but they will do it if needed. >> we are pushing folks to really try and stay, get your fresh air, walk your dog. but don't get in your cars and drive to specific locations. play volleyball with your friends. to have picnics and to have wine parties. >> if you want to get fresh air, do so and maintain social distance. like she said, no basketball, tennis matches and public courts or group picnics. >> well, govern er newsom proh