It isn’t every day that a mainstream finance writer would recommend that Americans stock up on guns and ammo, but that’s precisely what one Forbes expert just did.
Granted, millions of Americans have not waited for a Wall Street type to tell them to do what comes naturally to them: prepare for the worst and hope for the best. They have already stocked up on such essentials.
But when an East Coast guy steeped in the mainstream blurts it out in a column, it’s welcome, sure, but highly unusual and unexpected. Now, the question – since he’s a financial expert – is why?
‘There is the possibility of a precipitous decline’
As reported by the Washington Examiner:
A top financial advisor, worried that Obamacare, the NSA spying scandal and spiraling national debt is increasing the chances for a fiscal and social disaster, is recommending that Americans prepare a “bug-out bag” that includes food, a gun and ammo to help them stay alive.
David John Marotta, a Wall Street expert and financial advisor and Forbes contributor, said in a note to investors, “Firearms are the last item on the list, but they are on the list. There are some terrible people in this world. And you are safer when your trusted neighbors have firearms.”
Marotta’s memo is one of a series of writings that address the potential for a “financial apocalypse.” While he personally does not think that the current problems facing the country will result in Armageddon (an opinion that belies his recommendations to purchase guns and ammo), “There is the possibility of a precipitous decline, although a long and drawn out malaise is much more likely,” he wrote.
Marotta noted that a number of his clients have fears about the end of the world as we know it. And while he doesn’t necessarily buy into that, he most definitely is concerned about some of the same things that have people worried.
“I, along with many other economists, agree with many of the concerns expressed in these dire warnings. The growing debt and deficit spending is a tax on those holding dollars. The devaluation in the U.S. dollar risks the dollar’s status as the reserve currency of the world. Obamacare was the worst legislation in the past 75 years. Socialism is on the rise and the NSA really is abrogating vast portions of the Constitution. I don’t disagree with their concerns,” he wrote.
Not just those crazy preppers anymore
He also said in his latest memo that Americans ought to secure a survival kit to take with them just in case of financial fiasco or natural disaster. It should contain items that will help them stay alive for the first 72 hours following the event.
That kit should definitely contain a firearm.
“A bug-out bag is a good idea depending on where you live even if the emergency is just power outages, earthquakes and hurricanes. And with your preparedness you will be equipped to help others who might be in need,” he wrote. “Be prepared. Especially because it keeps you from being scared.”
A good bug-out bag with weapons is something that tens of millions of Americans have already secured. That folks on Wall Street and in the country’s most urban of areas are thinking along these lines has much significance, because it means that they no longer view such scenarios as impossible, or strictly the imagination of crazed “preppers.”