The Times go all 'doomster'

Is armageddon round the corner? Not quite, but it may not be too soon to start planning for it. Frontrunner for the Cassandra of the month award is Ed Balls, the schools secretary, for his prediction that this could be the worst financial shock for more than a century.
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So here is my armageddon portfolio. The relative proportions are up to you, and leave room to follow a hunch or two. Everything has to be watched every day, because the game can change in an instant.

First priority is self-reliance. Past British governments have found ways to wriggle out of their obligations, so beware so-called gilt-edged stock and pensions.

I believe the burden of paying pensions, both for civil servants and the rest of us, is going to become so great that they will be devalued. Final salary schemes for public-sector workers may have to end, and the state pension’s inflation link could be cut back or even removed.

So save as much as you can, but put your money in different banks or building societies, and keep healthy so you can keep earning for as long as possible.

While interest rates are so low, go for index-linked savings as inflation-proofing will often outweigh the interest
And, as in the 1980s, store extra food. Balls voiced the growing fear of social unrest, which is more probable the longer the crisis continues.

I am not suggesting boarding up your front windows, just buying a little more in case of shortages. It may seem ridiculously early to hoard, but it could very quickly become too late.

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As a portable store of wealth I have recommended gold in the past, and you should have some in a safe place. It will keep its value better than currencies, which are tumbling over one another as they fall. If you wait you should be able to buy at less than $900 an ounce.