Financial adviser and Forbes contributor David John Marotta says while he does not think the end of the world is nigh, he does believe many of his clients have legitimate fears about an impending financial and social disaster.
"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," Marotta warned, reports the Washington Examiner.
"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."
On a recent blog post,
Marotta noted that "those anticipating a financial and societal breakdown" advise storing food, water and firearms.
"Firearms are the last item on the list, but they are on the list," he wrote. "There are some terrible people in this world. And you are safer when your trusted neighbors have firearms."
He 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," he advised. "Be prepared. Especially because it keeps you from being scared."
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