Economically, how can concerned Americans prepare for the worst?

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Spend absolutely no money that you don't need to. This saves money for you and keeps it out of people's hands that don't need it. The faster the collapse, the more equal it will be.

I don't want to advise this, but I'm pulling all my money from the larger of my 401(k). (Keeping the smaller just in case it turns out I'm crazy, and if I am, I can always reinvest, with only some minor losses in time)

I bought a couple ATVs with trailers, with camo netting, working on filling those trailers with supplies and a lot of gas. I also bought an old jeep CJ7, with a trailer for the ATVs. Think lighters, camp stoves, portable solar panels, blankets, water filters, a good axe or hatchet, a couple knives, some emergency rations.

This is America. There's more guns than people. Make sure you have at least one.

The economic hardships, you won't be able to escape. When we lose hegemony/petrol dollar, it's likely to be the fastest collapse in history.

This is just a quick summary. Some of us have been planning for something like this for a decade or more. There's no way to be able to give you anything much more specific without knowing where you live or your current circumstances, experiences, or skills. But rely on any skills, training or knowledge you do have. Emphasize them and try to improve them. Make yourself a useful member of a rebuilt (small) society. I.e. growing, sewing, defense, engineering etc.

Whatever you do, do not give up. And be creative. Lighting a fire, and putting some seriously hot peppers in the fire can be a good area denial defense, light the fire and travel in the direction the wind is coming from.

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Get to know your neighbors.

The network is one of the most important parts of a survival scenario.

Personally, I have met people through food not bombs that I found interesting and dedicated to a better future.

Dried beans and rice go a long way towards feeding yourself and family if food becomes a scarcity. Store in airtight containers, with an inert gas, so that what you do have does not become rancid.

A human can survive for weeks without food but only days without water. If you're stockpiling.

Become proficient with firearms. This involves practice, and ownership.

It is almost always better to hunker down than to bug out.

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I'm old enough to have lived through several recessions, though I was poor for the first couple of them. I think a recession more likely than a collapse. If it's a recession:

If you can keep your job you will be ok, really. Try to keep your job if you can. Yes even if they do temporary pay cuts.
If you've been unable to buy a house, a recession may make it possible. That is how we got our first house - prices tanked, we got a run down house, couldn't improve it really but it was a place to live for a long time, and when you buy in a crash, taxes stay low here.
Remember there have been worse times and you are descended mostly from people who survived them.
Be nice to people. Always be nice on your way up, because what comes up must come down. We used to have to dumpster dive, and I have lived on the streets and in a car, don't want to again, at all, but there are plenty of less extreme tactics - live with more people in one house, we used to have one family in each bedroom, not one person, and that makes housing cost so much easier.

#1 is really the most important though - if you can keep a job you will be ok. If that falls through, do not think you are on your own, reach out to others and work together.

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Easiest access to the "inert gas" piece is dry ice from your local grocery store. CO~2~ is heavier than air. Wrap some in a tea towel and put it in the bottom of the bucket before adding the food. Then place the lid on but do not close. Keep in a place without significant air movement while the dry ice sublimates, pushing out the lighter gasses, before sealing the lid. This takes a few hours.

Times and amounts are purposely vague, as I don't remember them, but it should be easy to look up. If not, err on the side of too much and too long - the extra gas will just seep out the top.

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A lot of good advice on this thread, particularly the emphasis on social connections and food. Given OP asked to assume near or total economic collapse though, two thoughts:

Some people advocated building up money savings. If you are convinced there will be runaway inflation (part of what I assume is meant by collapse) then this is exactly wrong. The thing to do would be to convert as much money as possible into durable goods while the money still has any value. Look into the history of prior examples like the collapse of the deutsche mark in 1922, and the rush on payday to buy necessities immediately.
Gold is also being suggested. If your threat model includes social collapse gold won't do you much good. Gold has financial value but no use value for individuals (it is useful industrially, but not in a way you can take advantage of). Unless you're planning to run, bulkier but more immediately useful goods like food and tools are likely to hold more value. When everyone's starving, a baseball bat to guard it with is worth more than a lump of shiny but useless metal.
If you aren't assuming social collapse, foreign currency is another option. Be careful, because you want to pick one that is not likely to track your local currency and fall together. The advantage here is that when your local currency stabilizes, the value of gold will drop quickly and it will be very hard to guess exactly the right time to cash out. Foreign currencies won't have that same crash effect.

All that said, don't jump into action out if panic. Take time to think it through calmly - collapse is probably not coming in the next week or two. The actions that will save you financially in a collapse can destroy you if that collapse doesn't come. Make a plan for what to do if you're wrong to avoid shooting yourself in the foot (or, as many people do after that kind of mistake, the head).

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Skills are a good bartering chip. Things others can't do, or can't do to your abilities. A rare skill set or talent/ability will get you really far. But you have to advertise that ability. An engineer that can make a working electrical system out of car batteries and alternators will be worth more than a literal tonne of gold. Someone who can cut hair, valuable. The more you can help a community, the more accepting they'll be of you. A biologist would be amazing.

"Yep, that's hen of the woods, totally good to eat."

Vs

"I mean you COULD eat that, it won't kill you, but you'll be seeing pink Floyd's music"

"Never heard of pink Floyd"

"Doesn't matter, you'll know it if you eat that"

Vs

"If you fucking so much as touch that, I'm leaving, because you'll start projectile shitting your internal organs"

Yeah, biologists will be super valuable.

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At first I thought you were advocating for stocking up on Dr Pepper - ,wouldn’t you like to be a pepper too’

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My neighbors are all fascists, judging by the flags they have flappin' in their front yards

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How old were your elders? We don't have the gold standard anymore and gold prices are only loosely tied to the economy anymore. In a dire enough scenario, lead becomes more valuable than gold. If you're going to try to make money off of this situation, put all of your chips on China. As we collapse, they're right behind us. In many parts of the tech tree, they're ahead of us already. Despite their population problem, they're trending up while America is trending down. They're leading the way in solar, fusion and drones. Ahead in hypersonic, hacking, manufacturing, and AI. And they're on par in space, and I know I'm forgetting something. Oh, they're also way ahead on worldwide public opinion at the moment. So likely to get better deals.

Literally the only advantage the US has right now is military and logistically. But if we keep alienating (ironic, right?) allies, our logistics is shot to shit. (It's actually worse, because if we can't supply our bases around the world, those bases are sitting ducks.) The Chinese are masters at stealing tech. What they don't have is a navy capable of projecting power, but that's changing quickly.

If you want to make money off the fall of America, bet on the next superpower. Which is china.

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

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Craigslist also has a free section, we have given and received on there.

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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.

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I don't think housing is going to come down in any meaningful way. They'll just be bought up by corporations automatically now when the price dips low enough

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It's also not going to be easier to buy.

Banks are much more reluctant to loan, jobs are harder to keep.

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It's not so much about profiting from the situation but maximising your options.

You don't want to cash in your 401k and buy gold, but if you have some investments then buying physical gold with 5% or 10% is not a terrible idea.

In a holocaust type situation an ounce of gold in the right palm at the right time could buy passage for an entire family.

We may not have the gold standard anymore but I can assure you that gold remains a stable store of wealth.

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3%ers? Proud Boys? AfD? National Front?

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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.

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I've been asking myself that question for years. My wife and I thought the best solution for us was to leave the country. We don't have a good outlook for the future of the US. We moved to Germany last spring and have been enjoying a healthier and better quality of life. It's not easy but it is very rewarding. The cost of living here is less than half of what we were paying in the US. Groceries, rent, utilities, insurance, everything is cheaper except eating out at restaurants (that costs pretty much the same). For what it's worth, we moved from Denver to Frankfurt.

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If you don't mind sharing, how difficult was/is the immigration process? Are there stipulations and things you have to pass?

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As an American we had the standard 90 day visitor visa, which is basically just proven by showing the stamp you get on your passport when you enter Germany. I recommend applying for your next Visa immediately. Our wait time for an appointment was just short of 90 days. We did the language learning Visa which is good for up to one year and allows you to work up to 20 hours per week. They can't really track that if you have a remote foreign job, it just hinders you from getting full-time employment in Germany. If you go this route, you can find a job that will sponsor you for a work visa or you can apply for the new Opportunity/Chance Card (Chancenkarte) which is up to a year long "job seeker visa". If you have an accredited degree then you are eligible, otherwise there is a point system for things like language, age, finances, etc. The Chance Card wait time is pretty long so keep that in mind when planning.

The non-working visas also require you to have €992 per month in a "blocked account" that will be disbursed to you each month for living expenses. If you aren't working, you'll need private health insurance. Ours is €50 per person per month and is far better than the Kaiser Permanente insurance that we paid $550 a month for in the US.

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Economically, how can concerned Americans prepare for the worst?