Crosspost from Rublev's Dog....
While I am bearish on America, with its state-managed economy and its immorality, I refrain from being an all-out alarmist. I never bought into the Y2K scare, for example. I believe the economic erosion for middle and lower class North Americans will be a long, undulating descent. Regardless, what to do?
1) Trust the Lord. Yes, that sounds terribly cliche. I hate it when some apostle of super-spirituality says, "God is in control." The Lord is ultimately in control, but man is ultimately responsible. God allows men to act and reap the consequences of their actions. Faith lays hold of the eternal and keeps the temporal in perspective. The sufferings of this life are not to be compared with the glory that will be revealed in us in the age to come. With Christ as the anchor of our souls, we remain steadfast in doing the right thing, even unto death.
2) Get right with your neighbors. You're going to need them on your side if and when times get hard.
3) Each visit to the grocery, buy extra pallets of water. Your family should stockpile two months worth of water and vittles. Storing up canned goods is probably a good idea, but water is indispensible. If the consumer market sees a dramatic, sudden spike in prices (resulting from currency devaluation and rising shipping costs), there will be panic; then comes hording, sporadic shortages, and food prices spiraling into higher inflation. It's always good to have plenty of water on hand.
4) Try to grow your own food and can it. We're asking the Lord for enough rain in this parched area during the spring and summer for a successful garden.
5) Arm yourself. I'll answer to the Lord for killing a man while defending my family; I will not answer to Him for allowing someone to harm my family. Buy a long gun, preferably a shotgun. Handguns are more dangerous around children, and they require a background check and waiting period. Depending on the direction taken by legislators and courts, handguns would likely be the first weapons outlawed and confiscated. Teach your younguns how to respect and safely use firearms.
Bottom-line: panic is useless; lack of preparedness is senseless.