Friday, December 9, 2011

How Bad Is It?

UBS is a large and reputable purveyor of economic advice. Here's some advice from one of its people on preparations for an impending collapse of the Euro:

"I suppose there might be some assets worthy of consideration—precious metals, for example. But other metals would make wise investments, too. Among them tinned goods and small calibre weapons."
Larry Hathaway, UBS Financial
I get e-mails daily warning me to prepare for one sort of zombie apocalypse or another, but not usually from such a well regarded source.



jed said...

"Ammo is the next currency"

And if I weren't working on a down payment for my next car, I'd be continuing my program of buying some every paycheck.

If you want to know more about how bad it is now, do some reading about re-hypothecation in the financial markets.

The term "house of cards" comes to mind.

Anonymous said...

He goes on to say

"Break-up runs the risk of becoming one wretched scenario. Sadly, however, it can’t be ruled out, just as it would have been improper to rule out the horrors of the first half of the 20th century before they happened."

For you young kids who failed to learn history (and are doomed to repeat it next semester),in the first half of the 20th century, Europe had a world war which led to communism, fascism, and another world war.

Anonymous said...


It's Larry Hatheway (with an "e"), not Hathaway



Billll said...

I noticed his name had 2 different spellings in the referenced article alone.
Doing genealogical research into my own past, I've discovered that spelling of my name was distinctly optional. I suppose this is how it gets started.