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Economically, how can concerned Americans prepare for the worst? (lemmy.ml)

submitted 4 days ago by oxjox@lemmy.ml to c/asklemmy@lemmy.ml

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I do not want this to be a political debate nor an opportunity to post recent headlines. However, in my opinion, this administration seems to be taking actions which history suggests may lead towards a near or total economic collapse. Whether you agree with this or not is irrelevant.

This post’s question is: If one were to have a concern that they’d no longer be able to afford common household goods or that mainstream (S&P, Nasdaq) financial investments were no longer sound, what can one do to prepare for “the worst”? What actions could someone take today to minimize economic hardship in the future?

I would also like thoughtful insight from older adults to offer younger adults about how they should be better preparing themselves for an uncertain future, outside of current events or place of residence.

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[–] GenosseFlosse@feddit.org 1 points 3 days ago* (last edited 3 days ago)

But who wants to trade gold with you if everyone is hungry, has no water or power, is freezing or sick? Gold and valuables are only good of you know the economy gets back to normal, or you have someone who will trade useful stuff for gold.

Also, I don't think the average person has a concept how much gold is worth, or how to check if it is real or not.