I'm extremely bearish on the US dollar and stock market and am wondering what other people think about how to prepare financially for the medium term future. I don't there's any other way you can cut it: there's a debt crisis and, worse yet, I don't think the US will be able to convince bond buyers that they're serious enough about the issue to avoid a debt spiral. The fact that gold has cracked 4000 (almost 4200 now, with BofA setting a 5000 target) seems to suggest that central banks are similarly pessimistic about a financial collapse. What do y'all think about where things are likely headed?

Putting aside specific criticisms of the GOP as it exists today, what do you think of using the debt ceiling as a tool to reel in spending and put the US on a sustainable path with its national debt? People make it out to seem backwards and manipulative, but this whole situation seems like we're driving a hundred miles an hour toward a cliff and the person saying we should slam the breaks is getting flack because it'll damage the car.