Wall Street advising preppers?

Preppers! You know who you are. Survivalists. Those storing foods and water and medications for emergencies. Gun clinging bible thumpers? You know – those at the top of Hussein Obama’s terrorist lists! Those folks!

So, for some, or many, a well known Wall Street “wealth management” adviser advising us to do exactly that – prepare – might come as a bit of a surprise, or a shock for those with heads still buried in the sand.

From David John Marotta – 11-24-13 Is A Financial Apocalypse Coming?

I receive a fair number of videos, emails and articles about the coming financial crash. It is always nigh. It is always imminent. And it is always being predicted by the elite people who predicted the last three big events correctly.The cause is deficit spending, the growing debt, entitlement spending, rising taxes, the elite, the banking cartel, the energy companies, Obamacare, aging baby-boomers, the administration, the NSA, the government, the world government…

The expected outcome is vague but terrifying. The banks will close, trade will cease, mobs will roam the city streets looking for people to eat. The cause and effect for these horrors isn’t clear, but what it clear is that you need to take action in order to save yourself and those you love from this inevitable collapse of civilization.

Let me stop before I go any further and say that 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 US 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. But I do disagree with their financial advice.

Don’t get me wrong. I enjoy TEOTWAWKI literature (The End Of The World As We Know It). I highly recommend ” Emergency ” by Neil Strauss and ” The Disaster Diaries: How I Learned to Stop Worrying and Love the Apocalypse ” by Sam Sheridan. They are both even more entertaining than they are informative. And neither of these books has poor financial advice because they have no financial advice at all.

Perhaps the best lesson to learn from this survivalist literature is that when you are prepared you run toward dangerous situations in order to help others. First responders in any disaster are rarely paid professionals.

From these books I learned just how much work it takes just to recreate a small portion of the civilization that we enjoy today. It makes me thankful not just for civilization, but for the community of friends and family that work together to support one another and accomplish more than we every could individually. Voluntary trade really does benefit both parties .

I also know that civilization can break down and survivalist’s concerns about the envy and violence in society cannot be completely dismissed. Societal breakdowns have happened in history and we can’t eliminate such a possibility in the future. Read the rest here.

He takes it to the next level on 12-22-13 with Should I Be Storing Food, Water and Firearms? which includes advice and lists of items one would need in emergencies and concludes with -

Just to be clear. 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. But in most disasters, including I suspect TEOTWAWKI, most people you meet will be civil. Read here.

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