It is quite a scary thought and I have recently started to subscribe to it as well. I recently read someone compared US to the Roman Empire … the tail end of it. And I guess it is feasible as the US has prospered through its 200+ year history. Perhaps it has come to the end of its natural life and is due a complete overhaul ?

There are a few things I personally have started doing or have at least considered. Feel free to give me your comment.

1) Gain exposure in commodities, especially gold if the fiat ccy does collapse. Check out IGE, DBC, GLD, IAU and the soon to be launched Silver and Oil ETFs, also http://www.goldmoney.com
2) Invest in hedge funds that could short the market on its way down.
3) Hold on to my house (I know this sounds strange) which I know I can pay off with relative ease so as to ensure I’ve got a roof over my head in a worst case scenario.
4) Diversify into foreign currencies … like canadian dollars which will likely stay strong, or EUR which could become another oil currency.
5) Get a job in China / India which is relatively “young” as a world power.
6) Short the housing market