We are going threw tough times financially , but what should we do IF?

Question

the economy totally collepses and are dollar is worthless as some are saying this will happen. I do understand all the issues that are causing this, but what should the general public do? Buy gold, leave the U.S, stop working, exchange your dollars for another currency, invest in foreign investments?

Answer 1

If the dollar goes to zero, you've got bigger fish to fry, like the fact that you wont have a job and still wont be able to buy anything fast enough with your gold.  Stop being paranoid and enjoy life.

Answer 2

The economy could be better, but we are not at a point of thinking about pulling our money out of the country, or worse, leaving America,

The country has had problems worse than we have now, but it was corrected, not by people like you, but by those true American who worked harder and made their investment back in the country that gave them the greatest opportunity of any nation in the free world

You so ready to cut and run, I wish you luck, because the rest of us hard working citizens don't need a spineless individual who wants to turn their backs so easily on the Country

Have you given consideration of getting you and friends not to vote for a Liberal President or membes congress, if not that's part of the solution, if you think its bad now, want until more liberals become part government

The greatest enemy facing our country today is not terrorism nor is it coming from foreign soil it’s living among us in the form Liberalism

Answer 3

If the dollar becomes worthless & the economy collapses, then we are talking worldwide depression.  And not just a depression in the u.s.  Then I would suggest you buy a little farm, where you could grow your own food.  

What you are talking about has a 1 in 1000 possibility.  People that are predicting this are 'gloom & doomers', and probably don't know what they are talking about

Answer 4

Since the dollar is not only the basis for our economy but also the worlds', I doubt there is much chance of it going to zero. The rest of the world would collapse as well. The dollar is the most traded and held currency in the world. The worlds black market is run on the dollar because of its overall stability. If you want to invest in gold, you will have to buy "hard" gold like Kuegerands and physically hold them in your safe at home. Otherwise the piece of paper you have that says you own gold is as worthless as the dollar that just crashed. The gold market is traded in dollars!

Answer 5

First of all nobody is saying that the dollar will become totally worthless. You've been reading too much far left blogs. If the economy totally collapses (another thing that is unlikely to happen) the entire world will go down with us as we are such a large percentage of the global economy. As to how you should be invested, everybody should have some international flair to their portfolio. I used to believe that a certain percentage of gold was also important to ones portfolio. I do not believe so at these levels however. But oil (or oil stocks) have been a better hedge against inflation. But this could be a dangerous investment if Obama gets elected. As would investment in almost any stock.

As far as leaving the country, no matter how bad things get this will remain the safest and freest place to live with the best opportunity f growth. Again that could become challenged if Obama's socialist policies take hold.