Absolutely This is the time to repent and do istaghfar and correct ourselves. Allah had given similar warnings before when they did not listen! Allah removed their calamities; they got very relaxed and then suddenly Allah’s severe punishment came and everyone was gone with the wind! Among the previous nations only nation of Prophet Younus heeded to the warning! Each one should see if we are not doing something which we were supposed to be doing? Or we doing something we are not supposed to be doing! Are we doing something for our suffering brothers & sisters in Palestine, Syria, Kashmir, Burma, India, at least making Dua , speaking against injustices etc. May Allah forgive us and correct ourselves. A creature so small that 300 millions can fit in a pinhead can destroy all the economies and do what we are witnessing! Subhan Allah!