Economically, how can concerned Americans prepare for the worst?

[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.

[weeeeum@lemmy.world]

All handtools. I'm self taught and I work professionally (as in I do this for my living, but I still don't think I'm very good). I use all Japanese tools and work on the floor. Working on small parts is hard and you need good workholding. Since the Japanese work on the floor, you can just use your foot. Otherwise a metalworking vice works great for small parts, and sometimes a drill press vice. I am super active in a discord server if you want an invite. Super beginner friendly.

[lh0ezvt@sh.itjust.works]

My condolences for moving to Crackfurt.

[jonnynny@lemm.ee]

Haha. I read that a lot, but it's honestly not so bad as long as you stay away from the Hauptbahnhof. That area is truly awful.

[lh0ezvt@sh.itjust.works]

I think a lot of them, actually. Germany certainly does.

[endeavor@sopuli.xyz]

Just don't take out your paperwork and you are guranteed free passage to a better country when ICE raids your neighbourhood!

[genosseflosse@feddit.org]

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.

[that_devil_girl@lemmy.ml]

Doomsday prepping is the answer. Start building up a large supply of non-perishable foods, properly sealed for long term storage.

Have a wide variety of different food storage options. Having nothing to eat but rice will drive you insane (that's not hyperbole, it's serious).

Not just food storage, have tons of medical and hygeine priducts stored up as well. Things like toilet paper, toothpaste, wet wipes, ibuprophin, tums, etc. Assume there will be no stores or money in the future, plan acordingly.

Have all of your important documents in paper form. Keep all contact information, passwords, addresses, phone numbers, emails, and other important info on physical paper. There's a strong possibility the internet will go down for a long period of time.

If possible, download Kiwik. Within the software, you can download all of wikipedia so that you have an accessable offline copy. It's about 125gb in size.

Start downloading stuff you don't want to lose. If you have a youtuve video ripper, start ripping videos on how to do things like repair your own car and other repair tutorials. Download videos and tutorials on how to cook if you don't already know how. Also how to start and maintain a veggie garden.

Have a plan for the electric grid going down for a long period of time. Folding solar panels are a great way to keep phones and battery banks charged.

I could go on all day, but basucally you should prepare for a total government collapse. Internet, electricity, plumbing, trash removal, hospitals, police & fire rescue, depletion of groceries and store goods, etc. I have do doubt we'll see these things either partially or completely collapse and fail.