short note: DIASTER 2010

It is not 2012, but it sounds like the script of a disaster movie. We are talking about the predictions of Barton Biggs. The former research guru from Morgan Stanley and the author of "Wealth, War and Wisdom". He points out how a major rebellion can set in if economies collapse. For example, Greece is at the verge of sovereign default. As a result, there is chaos everywhere there. Mobs are out on the street. If Dubai caves in, there could be huge problems there too. After all, there are around a million workers from South East Asia there. They have been seriously overworked and grossly underpaid for years.

Mr. Biggs wonders if such a situation can arise in the developed world too. Can the US, Europe or Japan face social unrest stemming from economic collapse? After all, there have been such situations earlier.

However, never has it been so difficult to implement the rule of law in these countries as now. He believes there is still a 1 in 10 chance of a complete chaos in countries like the US. Interestingly, if that were to happen the best option would be to own a farm. Away from the large cities. And stock it with lots of food supplies and even some ammunition. It sounds surprising isn't it? Perhaps it's a reflection of the public mood there. Of course, here is India we seem to viewing a completely different horizon.