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

submitted 1 day ago by [email protected] to c/[email protected]

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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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[–] [email protected] 1 points 20 hours ago (1 children)

No arguments from me on China. They're excellent at playing the long game. My elders are boomers and the greatest generation.

[–] P00ptart 1 points 19 hours ago (1 children)

Alright well just forget what boomers say. American boomers had the easiest lives in human history. But the greatest generation knows struggle. Listen to them, but not on gold. Gold isn't what it was, it's volatile at the moment. It'll stabilize again if the world comes to peace, but that isn't likely.

[–] [email protected] 2 points 18 hours ago

Lol you just reminded me of what my grams said to me about why the boomers suck...

me: grams why are your kids so messed up? grams: they were raised during the US's peak golden age. they have no basis for actual reality.

May she rest in peace. Thanks for the advice. I appreciate it.