The End of Civilization?

Reader Krazy Kat, concerned perhaps that I was spending too much time worrying about real estate matters, sends this link to NY Magazine describing hedge funders who are worried that the financial system is about to collapse. They’re stockpiling food, ammo, inflatable rubber rafts on which to evacuate Manhattan and buying farms in remote locations.

Can’t say that I worry about such things but I met this morning with some very close friends in a non-real estate-related setting and several of them were frightened. That’s the word they kept repeating: frightened. While I guess I wouldn’t describe these men as captains of industry they all hold some very powerful jobs on Wall Street, and if they’re scared, that’s (almost) enough to frighten me, and I don’t worry much about material loss.

But social stability is a nice thing to have. Hmmm.

I’ll admit to a slight, nagging worry that I have no ammunition for any of the various hunting weapons in my house. Will I do anything about that? Probably not. But still ….

3 Comments

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3 responses to “The End of Civilization?

  1. Jack Martin

    Don’t worry, be happy.

    The vast majority of people have never had a net worth, so this financial melt down does not effect them one way or the other.

    When and if they ever get hungry watch out, but until then don’t worry.

    Instead of watching the stock market to measure the odds of social unrest, watch the waistlines of the general population. Last I checked the waistlines where holding steady.

    • christopherfountain

      True, Jack, but it’s kind of fun to imagine a swarm of Gucci-shod, armed bankers out looking for deer. I know how long it took me to learn to find deer in the woods and I suspect most of these guys would starve long before they mastered the art. Or they’d come raid my cabin, if I had a cabin. Oh well, back to reading “The Stand”.

  2. anonymous

    Many smart hedgies were concerned about terror threats vs Manhattan well before 9/11…and managed risk via various common-sense measures like avoiding “tourist” areas; carefully considering location of office and primary home; having other houses in other US regions and outside US, etc

    Suspect Manhattan’s terror threat will remain higher than risk of civil unrest

    And risk of elevated street crime in Manhattan (and in poorer parts of suburbs, incl Greenwich) will increase in a weak economy w/cutbacks in police…and be more of an elevated daily risk than civil unrest

    After the Lampert kidnapping, some bulked up their personal security, but many still live a fairly unfettered life w/o incident and w/no perceived need for armed convoys to commute to office…or to send their rugrats to school