Well, the timing seems right, but that just might be numerological nonsense.
I think there's reason to believe this is more than the pop of a speculative bubble; the development of pass-through mortgage securities and some of its sibling instruments allowed household debt volumes to grow at a volume that really structured labor relations, investment flows, et cetera in the Age of Reagan. I certainly wouldn't expect this to be the death throes of capitalism; it's certainly less vulnerable than it was in the 30s, even the 20s, but I do think we're in for another capitalist regime. There seems to be a consensus view of what it will look like, even - the Wolf article looks like a summation of the emerging common wisdom on the whole matter - but who knows if that's accurate.
Alternatively: this is probably on the severity level that we associate with genuine crises; no important restructuring occurred in the wake of the dot-com burst, but then, that was much smaller than stagflation or today (much less the Great Depression.)