I thought the question more referred to the Total Collapse of Western Civilization as We Know It (tm) which has not happened yet. No doubt global events can dramatically affect individuals.
The question is how should an individual prepare for and respond potential global crises and this very much depends on your personal beliefs about the state of the world. I personally cannot leave the modern world behind and live off-grid to prepare for all possible crises. Therefore, I need to decide which crises are likely and how to prepare for them. For example, I don't believe the U.S. dollar will collapse in value over my lifetime (hyperinflation could be possible but not money becoming worthless) and so I won't buy lots of personal gold to hoard. I do believe that a large economic depression is guaranteed in my lifetime and so I should 1) have sufficient liquid assets on hand to pay for my living expenses for a significant length of time even if they decline 40% in value, 2) be prepared and expect job loss, and 3) keep living expenses low so that even if only low-paying jobs are available, I can continue to enjoy my current standard of living.
It's all about resilience in the face of change and what sacrifices in efficiency you are willing to make to increase your resilience.
MsRichLife, what do you do to prepare for black swan events?
We are probably more aligned in our thinking than it first seemed. I'm an Aerospace Engineer and can't but help seeing the world in terms of risk.
To be honest, I haven't looked at the OPs link above, so was not commenting on the likelihood of the specific prediction contained in the link or ways to prepare for it. Rather, I was reacting to the general dismissive tone on this forum when it comes to taking prudent steps towards mitigating potential risks that exist.
Yes, the probability of collapse of the monetary system we currently enjoy is low, but it's not zero. The Bretton Woods System has only been around since WWII and has undergone quite the transformation over the decades since. The Nixon shock in in 1971 fundamentally changed the system in ways most people don't seem to recognise. The financial world is awash with an obscene amounts of derivatives that vastly exceed the underlying real wealth. If some event triggers an avalanche in that area, then I bet much of our paper wealth will be 'transferred' in short order. I don't trust that everything will be ok with blind faith. I invest in the stock market because it's the game that needs to be played for now, but I certainly keep a close eye on events and if I think the risks begin to outweigh the rewards, I will pull my money out of the game and wait.
When it comes to preparing for Black Swan events, the only thing I can really do is to increase my resilience and adaptability. I don't know what I don't know, and therefore it's not prudent for me to try and cover off on any eventuality. But... I can stay informed, recognise change when it's occurring and respond appropriately. This sits better with me than having blind faith that everything will be ok.
In order to increase our resilience, we are setting up our post-FIRE life to be quite different to our current one. We have just bought a small acreage in a small community surrounded by some of the richest farming land in the country. The rainfall there is excellent with no chance of being immediately impacted by floods. The risk of bushfire there is low and zero for cyclones. These are important factors in a country as prone to serious natural disasters as Australia is.
We also plan to strengthen our ties with the local community, which we find we can't do as effectively in the city. We plan to get involved with some local initiatives to relocalise the economy and increase the communities energy self-sufficiency. This ensures that we aren't totally reliant on the global supply system to provide for our needs. As an aside, my current thesis is looking at risks to Australia's fuel security. We are becoming increasingly reliant on fuel imports (now near 90%)! I would not feel confident that society will cope well with even a two week shortage of fuel.
As for optimism: I don't bitch about how shitty things are. I recognise areas for improvement and then try to take action in those areas where possible. The suggestion to just 'live in the now' is a strange one coming from this forum. We are all here (I think) to plan for the future by taking action now. Yes, live in the now... but learn from the past and plan for the future.