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.
As another has said, strengthen your local ties. In the event of a collapse, we’re all going to be affected in one way or another. I think the biggest thing is fostering a culture of cooperation rather the competition. That means avoid prepping, avoid emptying store shelves, avoid hoarding goods en masse in your basement or shelter.
I think a good first step would be to look for local mutual aid groups. Just Google your town or state + “mutual aid”. These groups are already out there directly servicing those most in need, and are the most ready to spring into action when a disaster strikes (here is some testimony about mutual aid group action during Hurricane Helene)
Oftentimes these groups are open to volunteers or donations and will be active during natural catastrophes, and I’d imagine economic ones as well.