Even with all our technology and the inventions that make modern life so much easier than it once was, it takes just one big natural disaster to wipe all that away and remind us that, here on Earth, we're still at the mercy of nature.
After Nixon resigned in 1974, he engaged in a very aggressive war with history, attempting to wipe out the Watergate stain and memory. Happily, history won, largely because of Nixon's tapes.
Equity is the cushion that protects financial institutions from unexpected changes in the value of their assets. The greater the leverage, the smaller the losses required to wipe out a company's equity, leaving it without enough money to repay the people who hold its debt.
When things aren't working out for people, the end of the world seems like an easy way to wipe the slate clean.
You can't put a load of rockstars up on a stage and expect to wipe out global poverty. That's ludicrous.