The Washington Examiner is reporting that a top financial advisor is worried that Obamacare, the NSA spying scandal and spiraling national debt are increasing the chances of a fiscal and social disaster. He believes many of his clients have legitimate fears about an impending financial and social disaster
Financial adviser and Forbes contributor David John Marotta, a Wall Street expert 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.”
The memo is series of such addressing the potential for a “financial apocalypse.” His view, is that the problems plaguing the country won't result in armageddon. “There is the possibility of a precipitous decline, although a long and drawn out malaise is much more likely,” said the Charlottesville, Va.-based president of Marotta Wealth Management.
“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.
Marotta went on to say that there are other items that can be included in a so-called bug-out bag, a portable kit required to survive a disaster for 72 hours.
“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
He provided a list of items and even a link to bug-out bags on Amazon.