During the 2024 presidential race, Donald Trump repeatedly claimed that the U.S. economy was terrible under then-President Joe Biden and then-Vice President Kamala Harris. But according to U.S. Bureau of Labor Statistics (BLS) figures, unemployment stayed under 4.0 percent from February 2022 through...
I’m sorry, but I don’t know. I wish I could offer better advice. But really the best advice I can give is to get in touch with or start forming local mutual aid groups. I realize being able to keep say, $1k in cash in your house somewhere is not an easy lift for a large portion of the populace. And I don’t mean to trivialize the difficulty of that.
But also, this is a “put on your own oxygen mask first” situation. If we do have some sort of catastrophic banking collapse, those with resources will be more able to help others if they’re not drowning themselves.
Besides mutual aid, you might focus on building up a stockpile of dry goods or vital medicines. I think (perhaps too optimistically), that a complete collapse of the banking system would be one of the few things that would finally get even the Republican Congress to get off their ass and start passing some emergency legislation. I would hope that part of that emergency legislation would be rent and eviction freezes, bans on penalties for missed rent and mortgage payments, and actions to reestablish the FDIC and restabilize the banking system.
I think most politicians are self-serving shameless wealth and power chasers. And for Musk/Trump, if they had an ounce of brains between them, the one rule would be “don’t fuck with the money.” If even Republican Congress members are seeing their life savings wiped out, then that’s one of the few cases I could see them actually standing up to the orange bastard. If that happens, if DOGE manages to crash the banking system, Musk will be lucky if he doesn’t end up a bloody stain on a wall somewhere. He’s risking seriously pissing some very wealthy, very powerful people that you really do not want to fuck with. Some very evil amoral people who have no problem against even murder.
So I think if there was a major crisis in the banking system, I think eventually things would be stabilized. But in the meantime, I think what people should do is be prepared to survive for a few turbulent weeks or months. That could mean a reserve of physical cash, a stockpile of dry goods, a mutual aid network, etc. I don’t think it’s reasonable for any but the most wealthy to seriously plan for a complete and permanent collapse of the banking system. But it is within the power of most people to at least plan for a few turbulent months. That’s obviously easier if you’re not living paycheck-to-paycheck. But even if you are, there’s quite a lot a few dozen people working together can accomplish if they are able to help each other out when a crisis arrives.
What should paycheck to paycheck people do (serious question)?
I’m sorry, but I don’t know. I wish I could offer better advice. But really the best advice I can give is to get in touch with or start forming local mutual aid groups. I realize being able to keep say, $1k in cash in your house somewhere is not an easy lift for a large portion of the populace. And I don’t mean to trivialize the difficulty of that.
But also, this is a “put on your own oxygen mask first” situation. If we do have some sort of catastrophic banking collapse, those with resources will be more able to help others if they’re not drowning themselves.
Besides mutual aid, you might focus on building up a stockpile of dry goods or vital medicines. I think (perhaps too optimistically), that a complete collapse of the banking system would be one of the few things that would finally get even the Republican Congress to get off their ass and start passing some emergency legislation. I would hope that part of that emergency legislation would be rent and eviction freezes, bans on penalties for missed rent and mortgage payments, and actions to reestablish the FDIC and restabilize the banking system.
I think most politicians are self-serving shameless wealth and power chasers. And for Musk/Trump, if they had an ounce of brains between them, the one rule would be “don’t fuck with the money.” If even Republican Congress members are seeing their life savings wiped out, then that’s one of the few cases I could see them actually standing up to the orange bastard. If that happens, if DOGE manages to crash the banking system, Musk will be lucky if he doesn’t end up a bloody stain on a wall somewhere. He’s risking seriously pissing some very wealthy, very powerful people that you really do not want to fuck with. Some very evil amoral people who have no problem against even murder.
So I think if there was a major crisis in the banking system, I think eventually things would be stabilized. But in the meantime, I think what people should do is be prepared to survive for a few turbulent weeks or months. That could mean a reserve of physical cash, a stockpile of dry goods, a mutual aid network, etc. I don’t think it’s reasonable for any but the most wealthy to seriously plan for a complete and permanent collapse of the banking system. But it is within the power of most people to at least plan for a few turbulent months. That’s obviously easier if you’re not living paycheck-to-paycheck. But even if you are, there’s quite a lot a few dozen people working together can accomplish if they are able to help each other out when a crisis arrives.