There are no really good choices. Cash is better than most of the other options.
I have colleagues griping about their "201K" investments in stocks (e.g., they have lost 30% to 50% of their funds). A money market account or CDs paying close to zero interest still keeps the principle intact.
Inflation is still burning away the value of all savings and investments. The government is entirely responsible for that problem, as they are in essence, stealing the money and passing it out to their cronies.
Whatever shall we do?
This is the point where people turn their cash into hard assets. When the system collapses, the money is worthless, and the stuff isn’t available any more, you at least have what you bought before the whole thing fell apart.