IN A COMPLETE MELTDOWN: A LETTER TO THE ECONOMIST (March 26, 2008)
Your cool sophistication notwithstanding, the advice you offer your readers on investment havens in a time of panic gets pretty ridiculous fast (“Apocalypse Now?” March 22, 2008). “If the world is going to hell,” you start coyly, “what should you buy?” Government bonds? Nah. Cash? Nah. Gold? Nah. Jewelry? Perhaps, but not more than you can safely hide. “In a complete meltdown,” you muse wisely, “it is hard to find anything that keeps its value.” And then, following some Wall Street bozo with a book to his name, you come up with farmland. Farmland is risky, but it is still worth a try. Farmland is your best bet, all things considered. Really? In a complete meltdown, get a bow and plenty of arrows. Learn how to wield a sword or at least a longish knife. Grab a small piece of land to sustain you and a few others you can trust. And pray for mercy of any old divinity you can remember. In a complete meltdown, to put it simply, forget about capitalism in any of its guises.