"I am not omniscient. But here goes. Our financial institutions, especially the banks and insurance companies, are in jeopardy and confidence among consumers, investors, business people and lenders is spiraling down. I speculate that we are two years into what will perhaps be a five or six year decline of historical proportions. My personal strategy is to largely evacuate the equities markets, hoard cash in dollars in a variety of insured institutions, expect unexpected calamity every few months as the system ratchets down and encounters new constraints. I recommend that you make job choices in favor of security rather than salary or lifestyle, and reduce risk by reducing future obligations. Above all, "hunker down". This much I do know: as things unwind, cash will be king."

I might add - Use this kind of time in a "cash mode" to pay off credit cards and personal debts.