The obvious countermeasure to this is to pull your money out of the bank and stick it in a safe somewhere, or possibly foreign-denominated traveler's checks.
In a sense that has been the method used since we went off the gold standard 1970. It's called you keep interest rates below inflation encouraging debt and speculation creating paper housing and stock market bubbles that make us feel rich for a short period, but make us broke. We have just seen an extreme case of this. It's political tricks. Listen to Peter Schiff.
Obama and liberals do not want public consumption, they want government consumption. They want our consumer money into collectivist programs. The stimulus tax credit rebate welfare checks are sold as consumption but that is pure political strategy to get and keep votes. It is not their real agenda. But they do not want private savings either I would guess.
In the event of rapid inflation, the most likely scenario with the massive deficit spending we've got coming up, sticking your money under the bed won't protect you much.
The idea that foreign currencies will be a safe haven is based on the not necessarily well-founded assumption that other countries won't have their own problems. In actual fact, most countries are more corrupt and have bubbles going on that are at least as large as those in the USA.
In Europe, for example, the media is even more corrupt and complicit in the conspiracy of the elite against the populace than it is here. Their real estate, believe it or not, is priced much higher than the average in the USA. Any commodity where the price rises much faster than the income of potential purchasers is headed for an eventual bubble burst.