Since we were on the topic of doomsday anyway, we thought it might be interesting to take a financial view. We lived through the Financial Crisis of 2008, which some thought was financial Armageddon. But we're all still here, chugging along mostly intact, and awaiting ... what, exactly?
Is there such a thing as financial Armageddon? And if so, what is it? We asked some CNBC personalities, commentators, bloggers, and editors to answer the question: What's your definition of financial Armageddon?
Let's see, it would be a run on some major banks, it would be the closing of some important brokers, and it would be the collapse of the mortgage and auto industries.
Oops! Hmm....let's see, Wachovia, Washington Mutual, Citigroup , Lehman, Bear, Fannie Mae, Freddie Mac and GM . Looks like I already had financial Armageddon. And we lived to tell about it, and profit from it!
Herb Greenberg, Senior Stocks Commentator, CNBC
About five or six years ago I bought the Grizzly Short mutual fund and the iShares Gold Trust as hedges to my IRA. They worked spectacularly well, but rather than selling my entire positions, once the market collapsed (or in the case of gold — skyrocketed), I kept some for a rainy day (or Financial Armageddon!) In the case of an all-out financial apocalypse, I'm convinced I'll be the last guy standing! (Or darn close to it.)