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A growing number of Americans are bracing for the worst.

A 2026 survey by YouGov found 42% of Americans believe the country will experience a “total economic collapse” within the next decade, while more than a third think a civil war is likely (1).

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That level of pessimism reflects a broader sense that multiple risks — economic, political and technological — are converging.

But what would a “total economic collapse” actually look like?

The closest historical comparison is the Great Depression. During the 1930s, U.S. unemployment approached 25%, the stock market lost nearly 90% of its value and it took decades to recover fully (2, 3).

While today’s economy is far more resilient, the fear of a severe downturn is not entirely unfounded.

A combination of overlapping threats has led to an increased anxiety among Americans. One of the biggest is the growing federal debt.

According to the Committee for a Responsible Federal Budget, U.S. debt has reached about 100% of GDP, with deficits and interest costs continuing to rise. The group warns that without policy changes, “some form of crisis is almost inevitable (4).”

A fiscal crisis could take many forms: a financial market shock, a surge in inflation, a weakening dollar or even a gradual erosion of living standards over time.

At the same time, some economists see deeper systemic risks building.

Financial risk expert Richard Bookstaber warned in The New York Times that the next downturn could be even more severe than the 2008 financial crisis (5).

His concern is that today’s financial system is tightly interconnected, linking markets, artificial intelligence, supply chains and geopolitics. That means a shock in one area — such as conflict involving Iran or tensions around Taiwan — could spread quickly across the entire economy.

Energy markets are already showing signs of strain. A report from BBC News noted that disruptions in the Strait of Hormuz, which handles about 20% of global energy trade, have pushed oil prices higher, raising concerns about inflation and the risk of a recession (6).

Meanwhile, the rapid rise of artificial intelligence (AI) is adding another layer of uncertainty.

For instance, Citrini Research outlined a hypothetical scenario in which AI-driven job losses trigger a negative economic spiral — reducing wages, weakening consumer spending and ultimately destabilizing financial markets (7).

While that scenario is speculative, it reflects a growing concern that technological change could reshape the economy faster than workers and institutions can adapt.

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While the fear of a “total economic collapse” may sound extreme, it reflects a real shift in public sentiment.

Americans are grappling with a long list of economic worries:

long-term pressure of rising debt

near-term volatility tied to elections, inflation and global conflict

uncertainty of how AI will affect jobs, wages and growth

It is a lot to take in. Persistent inflation has pushed everyday costs higher, while concerns about mounting debt, geopolitical conflicts, rapid technological change and market volatility continue to pile up.

“Inflation is a problem and it’s only going to get worse,” Mark Zandi, chief economist at Moody’s, told CNBC (8). “Clearly, the war in Iran is doing significant damage.”

Ultimately, no one can say for certain whether these risks will lead to a crisis — or how severe it might be. But being financially prepared for uncertainty is often far more productive than trying to forecast the next crisis.

Here are some general recommendations.

Building an emergency fund can give you breathing room when life throws a curveball. Financial experts often suggest setting aside enough to cover three to six months of essential expenses — and keeping that cash somewhere you can access quickly if needed — so an unexpected bill or loss of income doesn’t send you back into debt.

A high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it.

A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks, and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%.

That’s ten times the national deposit savings rate, according to the FDIC’s March report.

Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%.

With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8M FDIC Insurance eligibility through program banks.

Credit card debt and other high-interest loans should be another of the first things you tackle — especially since they can become increasingly difficult to manage during downturns.

If you’re juggling multiple debts, consolidating them into a single personal loan could help simplify things. Ideally, you’d lock in a lower interest rate, reduce your total interest costs and replace several payments with one predictable monthly bill.

Lending marketplaces like Upstart can match you with a personal loan offer in minutes.

Instead of relying solely on credit scores, Upstart’s AI-powered platform looks at various factors — including income, education and employment — to give you offers that may be better suited for your individual situation.

Applying is fast and simple. Just submit a few personal and financial details and get an instant decision from Upstart’s AI-powered platform. Once approved, your loan is funded by a trusted bank or credit union partner, often as soon as the next business day.

Diversification is one of the most widely recommended strategies by experts — and it tends to shine during periods of economic uncertainty. Spreading your investments across different sectors and asset classes can help you avoid being too exposed to any single trend.

In simple terms, don’t put all your eggs in one basket.

A good starting point is investing in assets that are less tied to stock market swings and that offer some protection against inflation.

Take gold, for example. The precious metal tends to hold its value during turbulent times, often moving independently of stock prices. Over the past year, gold’s reputation as a safe haven asset has held up amid geopolitical uncertainty, with prices jumping more than 50% in the past 12 months, as of April 14 (9).

One way to invest in gold that combines its hedging properties with the tax advantages of an IRA is by opening a gold IRA with the help of Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainty.

Plus, if you’d like to convert an existing IRA into a gold IRA, Priority Gold offers 100% free rollover, as well as free shipping and free storage for up to five years.

To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.

Real estate can also act as a natural hedge when inflation heats up.

As inflation pushes up the cost of materials, labour and land, property values often follow suit. Rent prices also tend to rise in response, giving property owners a potential income stream that keeps pace with higher living costs.

No matter what’s happening in the economy, people still need a roof over their heads — which helps keep demand for real estate relatively steady over time.

For those looking to invest beyond short-term vacation rentals, mogul might be worth a look.

Founded by former Goldman Sachs real estate investors, mogul handpicks the top 1% of single-family rental homes nationwide for you.

Mogul’s team carefully vets each property, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average yearly return of 18.8%. Their cash-on-cash yields, meanwhile, average between 10% to 12% annually. With investments typically ranging between $15,000 and $40,000 per property, offerings often sell out in under three hours.

Getting started is a quick and easy process. You can sign up for an account and then browse available properties. Once you verify your information with their team, you can invest like a mogul in just a few clicks.

— With files from Monique Danao

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We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

YouGov (1); Franklin D. Roosevelt Library & Museum (2); Goldman Sachs (3); Committee for a Responsible Federal Budget (4); The New York Times (5); BBC (6); Citrini Research (7); CNBC (8); APMEX (9)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.