If Greenspan, famous for his positive spin, is saying this is worse than 1929, then yes, I suspect buying a gun - or more likely a tank and small artillery - may not be inappropriate.
Then again, he just be trying to talk down the market so his neo-feudalist friends can buy everything and everyone cheap in a fire sale.
Given his background, I wouldn't put it past him.
We need a Bretton Woods II, and before too long, there will be one. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky