[Lawtan]

No - according to reports, the Nordic dating for Ragnarok - the battle of the Norse gods and heroes against the Jotunn (giants) and the like that would result in only a few lesser gods and 2 humans surviving (and the earth falling, and the Corpse-eater drake destroying the World Tree and...), was to take place today.

The manga is essentially Loki being banished to modern day Earth as a way to prevent these events. Loki there becomes a supernatural detective, capturing the supernatural evil in order to have enough power to force his way back. (Which would launch Ragnarok).