Global Debt Bomb To End Civilization as We Know It

Well, this time I didn’t say it, it was on the front page of Marketwatch! Here’s the article:

http://www.menafn.com/qn_news_story.asp?storyid={C3A7C2B5-89BD-4D1D-B306-CB891C48FD74}

Here's how these savvy Insiders are preparing: In his 2008 best-seller, "Wealth, War and Wisdom," hedge fund manager Barton Biggs, a highly respected Insider in the "Happy Conspiracy," advised rich insiders to expect the "possibility of a breakdown of the civilized infrastructure."

His advice: Make tons of money. Buy an isolated farm in the mountains. Protect family against the barbarians: “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. Think Swiss Family Robinson.”

The only problem???

Barton talks out of BOTH side of his HEAD…

Here he makes the case for a CONTINUED MARKET RALLY in the U.S.!!! This is from just a few months ago.

http://www.newsweek.com/id/214113

Hope he likes FARMING, he’d be better off doing that than stock picking these days.

Actually, I think he was right both times. In the article you posed, he says that the market had a way to run (and it did). In the article I posted, he talked about making as much money as you could, while you could, which is again consistent. So, I think he was right on both counts and the global debt bomb has yet to go off!

How convienent of Mike to leave out some very important parts to that article and only cut and paste what he agrees with…In the article Barton Biggs also says the he firmly believe the odds are 1 in 10 for this doomsday scenario to play out…%10 this might happen…Then he also says to make LOTS OF MONEY…How do we do that if we shouldnt buy real estate,we shouldnt invest in what is surely a downward spiraling out control stock market,we are too busy farming and growing our food,stockpiling ammuntion for the barbarians to come,living in rural farm country…Which one is it??

True, he did hedge his prediction of the coming anarchy. His odds: 1 in 10.

The truth is Insiders in the “Happy Conspiracy” elite will follow Biggs’ ultra-simple investment strategy: Make massive amounts of money fast using short-term strategies, spout lip service about the “public good.” But always act in your own self-interests first,

Which one is it Barton?..Start a farm or make “massive amounts of money”…Odds at 1 in 10 as Barton is directly quoted as saying I will choose the other %90 and stick around and make “massive amounts of money”…

For investors, the great stock market rebound of 2009 has been a welcome salve after the brutal one-two punch of the housing and equity market meltdowns. The stock market has come back so strongly since bottoming out in early March that some bears see signs of another bubble forming. But there’s a case to be made that there’s still more upside in the stock market than pessimists might think–and it’s entirely possible the Dow will hit the 12,000 mark in 2010. That sounds like a stretch, considering the index’s 60 percent rise over the past nine months. But to get to 12,000 from the 10,500 range the index traded in around Dec. 15, the Dow would need to advance by slightly more than 14 percent over the next year. History suggests it’s a reasonable possibility: over the past 50 years, the one-year return on the DJIA has exceeded that mark 21 times. As NEWSWEEK’s Daniel Gross has written, economists have tended to underestimate the recovery so far; money manager (and NEWSWEEK contributor) Barton Biggs has written that he sees more upside than the conventional wisdom, too. As Americans continue to rebuild their nest eggs, there’s good reason to think they’re right.

Barton loves to play both sides of the fence…He makes cases for the end of the world coming and then he predicts the stock market to continue to climb HIGHER…You listen to this clown?

More Barton Biggs advice and how that panned out…

That’s not to say he’s always been right. People are still talking about the time he pronounced himself “maximum bullish” on China after a brief tour of the country three years ago — just before Asia began a two-year slide. Biggs’s philosophy might be best defined by one word: entrenchment. Once he visits or hears about a country, he locks in on it like a laser. He’s been following remote countries no one else has been watching (like Myanmar and Vietnam) for years. A true value investor at heart, Biggs likes the less-fashionable stock or country, especially ones with immense long-term investment potential (e.g., China, India or Russia). The problem with international stock markets is that you also have to keep your eye on the dollar, making this type of investment a little more complicated than a domestic buy. But Biggs is unrelenting when it comes to emerging markets, and his intensity of commitment can’t be approached by any other SmartMoney.com pundit.

His long-term bullish view on emerging markets, however, came back to haunt him in Mexico, when the peso crashed in value at the end of 1994 after he’d proclaimed his bullishness for a country that he freely admits “I just can’t get.” But his standing was revived when he correctly told his clients to invest in Japan right before the country rebounded from two years of economic stagnation in 1995. Overall, however, he missed the boat on emerging markets in 1995, saying they would rise 18% when they actually performed rather poorly, especially when you put them up against the returns of the U.S. market.

In 1996, Biggs was bearish on U.S. stocks and bullish on emerging markets (surprise!). While his big calls in places like Russia (up 112% through October) and China (up 67%) were paying off, he was amiss domestically on stocks and the Comex gold price. His subpar performance over the past few years placed him near the bottom of our pundit pack. But don’t just look at Biggs’s recent track record. In January 1996, traders couldn’t figure out why India funds were suddenly so hot. “Barton Biggs is there, having a look around,” said one trader. "Do you need to know more?

Yep, I’m listening to everyone to get their input. I’d say that 1 in 10 odds of civilization ending are pretty high odds. If my odds of winning the superlotto were 1 in 10, I’d be playing every week!!!

What’s interesting to me is that another big Wall Steet Name said it. I’d be interested to know if Barton Biggs bought a farm in a remote location. There was another article lately about big Wall Street Investors buying guns. Unless they’re all wacko (including Bill Gross), it sounds to me like many of them think a collapse is certainly possible. Unlike them, I think a collapse is a certainty!

Of course, I could be wrong. The people of the United States could suddenly stop demanding all the handouts they’re getting. Retirees could say “no thanks” to their social security checks. Section 8 tenants could suddenly start paying their own rent. The unions could demand wages comparable to their counterparts in China. The Chinese could say “don’t worry about all the debt you owe us”. Iran could turn their nuclear program over to the US and make peace with Israel. Obama could give up on taking over 1/6 of our economy through health care “reform”. The Wall Street FatCats could stop the giant ponzi scheme and go back to making money honestly. Obama could look out the window, see 3 feet of snow, and decide to give up on cap and trade. If these things happened, we probably could solve our debt problem. Odds of that happening 1 in a TRILLION! Suddenly those 1 in 10 odds are looking pretty good! LOL!

Which one is it Barton?...Start a farm or make "massive amounts of money"...

Both! He is advocating making massive amounts of money now (while the ponzi scheme is still alive) and buying a remote farm as a hedge against a total collapse of the economy.

Well keep an apartment vacant for me Mike…If I have to bail out fast I will swing by and pick up fdjake and his family and make our way to Ohio to hideout for few months…And I highly doubt that Barton Biggs bought anything other than his current residence at 733 Park ave…Im still curious at how the average guy is going to make massive amounts of money??..Short term strategies?..Sounds very risky…

Also I never called Bill Gross a wacko,nor did he ever advise anyone at anytime to buy a farm and stockpile ammunition…

C’mon down - it’ll be a lot safer in Ohio than NYC!!! BYOG!

ROTFLMAO…Now that was funny…I do agree with you on that…You mean my super soaker wont be sufficient?

I do agree with you on that...You mean my super soaker wont be sufficient?

Although people in Ohio don’t normally carry super soakers, you can give it a try!

Nerf makes a decent product:

http://nerfguns.org/images/nerf_nite_finder_ex3.jpg

Had a pretty good shooting competition with my 5 year old after the Holidays.

-Mike

allagash,

is markaetwatch the same website you have recommended before?

allagash, is markaetwatch the same website you have recommended before?

nah…that’s bigtime old news BS…

I’ve mentioned zerohedge.com…and the blogger All Allan.

zerohedge keeps ahead of the curve, (financial news).

Allan…followed him a couple years. Thanks to him and rookieNYC…have got a much greater appreciation of the treachery and rewards of trading.

Nuf said.

-Mike
http://www.youtube.com/watch?v=AorLP3VHLdw

http://www.youtube.com/watch?v=FJfFZqTlWrQ