[nikkwong]

Yeah seriously. Don't people understand the fact that society is not good at mopping up messes like this—there has been a K shaped economy for several decades now and most Americans have something like $400 in their bank accounts. The bottom had already fallen out for them, and help still hasn't arrived. I think it's more likely that what really happens is that white collar workers, especially the ones on the margin, join this pool—and there is a lot of suffering for a long time.

Personally, rather devolving into nihilism, I'd rather try to hedge against suffering that fate. Now is the time to invest and save money. (or yesterday)

[sarchertech]

If white collar workers as a whole suffer severe economic setback over a short term timespan, your savings and investments won’t help you.

Unless you’re investing in guns, ammo, food, and a bunker. We’re talking worse unemployment than depression era Germany. And structurally more significant unemployment because the people losing their jobs were formally very high earners.

[nikkwong]

That’s the cataclysmic outcome, though. Although I deemed that that’s certainly possible and I would put a double digit percentage probability on it, another very likely outcome is a very severe recession, or a recession, wear a lot of, but not all, white collar work is wiped out. Maybe there’s a significant restructuring in the economy I think in a scenario like that, which also seems to be in the realm of possibility, I think having resources still matters. Speech to text, sorry for the poor grammar.