Like a lot 50+ Baby Boomers, I'm becoming increasingly concerned about the economy, not just ours but worldwide too. The news just keeps getting grimmer. Whether Europe can pull itself together is anybody's guess. It's not looking good at the moment. And our Super Committee failed to do its job (yea, big surprise there). The U.S. Congress once again has highlighted just how dysfunctional it has become. So where does all this leave older Boomers?

What can we expect if the world economy double-dipped into another recession or worse? The scary thing is that no one knows for sure. Sometimes I get the feeling the world is slowly falling off a cliff into unchartered waters.

Just off the top of my head, here are some consequences I think we could expect:

* A stock market collapse with significant damage to already battered 401Ks and retirement funds.

* The implementation of widespread austerity measures, likely affecting Medicare and Social Security in some fashion.

* More job losses and a big jump in unemployment. More people on food stamps. Huge increases in the number of homes going into foreclosure. Possible civil unrest.

* Downsizing of the military to cut costs, including bringing the troops home from places like Germany and Korea.

I'm sure you could easily come up with more outcomes, none of them good. So, the question is, "What would you do if a worse-case scenario develops?"

Some people, including my neighbor, are stocking food and growing crops in their backyard. Others are buying gold and silver as a hedge against a devalued dollar. A few have "get away" plans to relocate to remote areas with lots of ammo. There seems to be a "survivalist" mentality gathering strength out there.

I think the greatest danger is giving into our fears. No one can accurately predict how the economy is going to play out or the consequences of worldwide economic developments. All we can do is to stay abreast of the news and take reasonable precautions. I have confidence in the American people's ability to ultimately overcome adversities. When the chips are down, we seem to be at our best.

Meanwhile, I'm off to the super market to buy canned goods...