Alex’s Notes: I find it interesting the kind of people who are concerned about these kinds of things these days.
I have had conversations recently with some very, very smart people, people who own businesses, who are at the top of their game, who are extremely successful, and not because they are stupid, who have shared with me similar concerns.
If these kind of folks are having these thoughts, then maybe it isnt so tin-foil hat after all to be concerned?
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The New Paranoia: Hedge-Funders Are Bullish on Gold, Guns, and Inflatable Lifeboat
By Timothy Sohn, Published Jan 11, 2009
During the final months of 2008, as the financial markets imploded, talk on trading desks turned to food and water stockpiles, generators, guns, and high-speed inflatable boats. “The system really was about six hours from failing,” says Gene Lange, a manager at a midtown hedge fund, referring to the week in September when Lehman went bust and AIG had to be bailed out. “When you think about how close we were to the precipice, I don’t think it necessarily makes a guy crazy to prepare for the potential worst-case scenario.”
Preparations, in Lange’s case, include a storeroom in his basement in New Jersey stacked high with enough food, water, diapers, and other necessities to last his family six months; a biometric safe to hold his guns; and a 1985 ex-military Chevy K5 Blazer that runs on diesel and is currently being retrofitted for off-road travel. He has also entertained the idea of putting an inflatable speedboat in a storage unit on the West Side, so he could get off the island quickly, and is currently considering purchasing a remote farm where he could hunker down. “If there’s a financial-system breakdown, it could take a year to reset the system, and in that time, what’s going to happen?” asks Lange. If New York turns into a scene out of I Am Legend, he wants to be ready.
Original Article
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