Tuesday, January 5, 2010
Today, Paul Farrell quoted Barton Biggs as predicting the breakdown of civilization and anarchy:
In his 2008 bestseller "Wealth, War and Wisdom" former Morgan Stanley research guru Barton Biggs warns us to prepare for a "breakdown of civilization ... Your safe haven must be self-sufficient and capable of growing some kind of food ... It should be well-stocked with seed, fertilizer, canned food, wine, medicine, clothes, etc ... A few rounds over the approaching brigands' heads would probably be a compelling persuader that there are easier farms to pillage." Biggs sounds like an anarchist militiaman.
I haven't read Wealth, War and Wisdom, and I wanted to find out what Biggs is actually forecasting for the U.S.
I found a recent (December 15th) interview in which Biggs gives specifics:
Is what’s happening now in Dubai and Greece, for example, a canary in the coal mine? In Greece, there is real chaos and anarchy, with mobs on the street. If Dubai goes down the drain, there’s going to be serious trouble, because they have a million or so imported workers from third-world countries. They are working their butts off, and they have been cheated for years, in terms of what they are paid and their food allowances. There are going to be real problems there.Marc Faber also recommends buying a farm. And many experts and officials have warned of economic crisis-induced unrest.
You can make the case that it is not inconceivable that the barbarians could be at the gate in Europe, Japan and the US. It’s one chance in ten that’s going to happen but, as a person with wealth, you must ask what type of insurance to take out against that ...
It sounds simplistic, but there’s nothing the matter with having some kind of self-sufficient farm that is not close to the big cities. It sounds almost stupid, but it sure paid off in occupied Europe during World War II. I don’t think periods of anarchy are going to last a long time in countries like the US. But could we have four or five months of anarchy? I think there’s one chance in ten that could happen.