Gold or silver is probably as good a hedge as any- will pretty much just sit there as long as the economy doesn't crash, but should rise in relation to decline in dollar value if things go south. Its never been worth nothing, unlike some investments (GM bonds come to mind).
There just isn't anything out there that is both safe, and profitable.
I evicted a guy, who then became fixated on the interest earned on his security deposit on the rental (even though he is not entitled to it). I called the bank where it had been deposited (Chase) and found their passbook savings rate is .01% (that is, .0001 times the principal). Did the math, and in my letter of reply to him, taped a dime and a nickel to the letter.