General Discussion
In reply to the discussion: Worst case, Trump wins. Then what? [View all]Lonestarblue
(11,888 posts)If Trump wins and starts deporting all undocumented workers, the economy will crash anyway because those workers are a part of several supply chains, including the food industry. Given our low unemployment, there are not enough able-bodied people to take those jobs. Inflation will soar, and people on fixed incomes will be hurt the most.
The OP asks what we should do if Trump wins. I think we should look to our finances, especially if we are retired, as I am. I lived through the losses of the Republican Great Recession in 2008 and saw my 401k lose half its value. I was still working and contributing, though, and did not have to rely on my savings to live. Thats no longer the case, and I am convinced that the economy will tank within months of Trumps inauguration if he wins, so I will most likely start cashing out some investments in November so I can protect the savings I will need to live on. Inflation will certainly affect the value of that cash, but if the stock market crashes, there wont be much left. I really believe we could have another Great Depression if Trump wins because his economic plans are a disaster. Add the firing of 50,000 career government workers, the deportation of undocumented workers, and the chaos of a government that no longer functions, and we have a recipe for economic catastrophe.
I remain optimistic that Harris will win, but Im also thinking how to protect my financial ability to live.
Im editing my post to add another thought. If you are in a group that might be vulnerable to Trump and Christian Nationalist plans, you might consider getting a passport now if you do not have one. For example, if Trump wins and government workers are fired, getting a passport later might be impossible. And when Stephen Miller starts arresting Hispanics and Haitians for deportation, he and ICE will not bother to check whether some are US citizens. My passport is good for more than a year, but I plan to renew it in November.