Economically, how can concerned Americans prepare for the worst?

[conditional_soup@lemm.ee]

Great advice! How did I forget sweet potato?! I've heard that all parts of the plant are edible as well, though I've yet to confirm it. Another salad green you can grow as an ornamental is nasturtium, but do so with caution, as I've read that it draws in pests.

[aloafofbread@lemmy.ml]

Investment-wise, have a well-diversified portfolio. This is not financial advice, and I'm not a professional, but this is what I'd do with retirement funds and personal stock accounts:

US stocks: Don't be over-exposed to US stocks, especially riskier ones. Historically, bonds and foreign stocks have been recommended to balance your portfolio, but many people have ignored that in recent years due to the dominance of US large-cap stocks, especially the tech sector. Ensure you're diversified in accordance with your risk tolerance/retirement time-horizon.

Non-US Stocks: It would be good to have a non-US ETF or index fund with developing and emerging markets. It may not perform as well, but can potentially hedge against US market volatility. The counterpoint here is that US stocks are globally interconnected enough that getting non-US stocks would overexpose you to that part of the market. Caveat emptor, do research.

Bonds: bond ETFs/funds, I-bonds (inflation protected securities, you can buy $10k per year), and automated bond ladders can give you steady returns. Remember buying bonds directly is fairly illiquid - your money will be stuck in the bond for the duration of the bond's term.

Cash: Inflation isn't crazy right now. Probably wouldn't be bad to have more cash than normal sitting in high-yield accounts (earning around 4% APY right now) since the market is likely to dip. Maybe consider liquidating some investments that are riskier than you'd like. I wouldn't really advocate trying to time the market, but also it doesn't seem like a bad time to be a little heavier on cash imo.

[helpmyusernamewontfi@lemmy.today]

For anyone that wants it, here's a local copy of this page with all the replies included: https://mega.nz/file/2IdilIiI#cprrG2E58S1Wg2kp5YNEjfLMBh1hPHiQzuWMpsXI3dk

[hawlsera@lemm.ee]

We can't lol

[dx1@lemmy.ml]

If we're really going full warlord-rule society, names on a domestic account at some institution are worthless.

[the_q@lemm.ee]

Take out tons of credit cards, loans etc and max them out with no intention of paying any of it back. Burn it to the ground.

[genosseflosse@feddit.org]

What do you want to do with gold? This isn't the middle Ages where you can pay the peasants with gold or silver coins.
In an economic collapse canned food, fuel, etc. will be useful. Something people need every day and can be swapped in small quantities.

[softestsapphic@lemmy.world]

Don't spend on anything besided essentials, keep an eye on the news to see if any of the long running institutions Americans use to save their money are being sacked and take your money out accordingly.

The less individuals contribute to the economy the worse the effects of this administration will show.

[aloafofbread@lemmy.ml]

Things won't get to that point, most likely. Things can get really bad and still recover. If it's an apocalyptic scenario, better invest in a stock of bullets and a bunker.

[mojomcjojo@lemmy.world]

That was incredibly kind and useful thing to do for us. Thank you.

[mesamunefire@lemmy.world]

https://fourthievesvinegar.org/
If your forced to find a solution.

[rubberelectrons@lemmy.world]

Good stuff, thanks. Tricky problem to solve, generally speaking

[mesamunefire@lemmy.world]

Yes I have a couple friends that can't live without it, so we have had convos. It's better to go to Walmart and get the very cheap stuff, but your going to die without it...

[hurlingdurling@lemm.ee]

Gold because regardless of the US economy, gold will still be something worth trading, it is also easier to carry than necessities and can be used as improvised currency with a more stable value over basic necessities. For basic goods, you have to always watch out sine you A. Use them yourself, and B. Everyone needs them but may not give them the same value necessarily.