I think the tsunami analogy for Bandar Ache in Indonesia is probably even better than intended if you predict complete collapse for our markets. I observed first hand the immediate aftermath of the tsunami over about 80 miles of coastline on the NW side of the island. I personally captered numerous aerial photos of villages that were completely erased except for foundations. At one time I counted them in my head and could think of at least 12 separate cases. It was incredible how the water took away nearly everything in many areas, leaving little trace of the original structures and even completely changing the shoreline. I hope that is not really the future for our markets. The waves in some cases deposited boats miles inland and many people were likely killed who never even considered the sea a threat. The single coastal road which was the only “exit” for the hundreds of thousands of people living between the mountains and coast was impassible in a few dozen areas. Helicopters were the only way to deliver relief for weeks until the road was rebuilt. I’m not sure how the helicopter analogy really fits. But you could argue the road represents perceived market liquidity.
