<prompt> Human: Ive been noticing more and more quotes and discussions about a coming economic crisis to rival that of 2008 or even bigger. The latest video that started me going down this road again was this one by Peter Schiff: Why the Air Is About to Come Out of Americas Bubble EconomySince he was one of the people to warn before the last economic collapse and nobody listened to him then making him a sort of a Cassandra from mythology, as Richard Clarke would call it, I am inclined to maybe make some steps towards financial security during such a downward spiral.If Schiff is right, then this one will be much worse than the last one, and with more and more jobs being lost to automation, this one might be quite a ride.Any advice, thoughts how to prepare for something like that? What types of valuables are more recession-proof? Gold? Land?Im not claiming anything is about to happen so I would like this not to be a discussion of whether this collapse might or might not happen. Lets just assume its a possibility. How to prepare for that outcome?  <response>: Have you actually done any research into Peter Schiff? He has predicted the total collapse of the world economy, yearly, for at least 20 years. He predicts the same doom and gloom every year and happened to be right in 2008, but not because he knew what he was doing. He is less like Cassandra and more like the boy that cried wolf. Anyone who has listened to Schiff over the years has lost tons and tons of money. Since 2008, there are always discussions about the next crises. Doom porn is fashionable. People on the internet love to think they can spot the next bubble. They have all been wrong. Why do you think they are right now?Do not do something stupid like go buy a bunch of gold or land. Keep a emergency fund that is appropriate to the stability of your jobcareer and invest in index funds. 