But I'm not sure it will be quite as severe as you say,but yeah,it will be bad and it is already starting.
I can only speak for America Milo.
In the last recession in America people had neighbors they could trust, had morals, knew how to shoot and gut a deer, barter, do without, eat oatmeal and pancakes and can much of their own food out of their garden.
All lost arts over a few generations of diaper dandy Snowflakes commonly known as "Bird Brains". (Look up the definition as that term hasn't been used in years)
So I disagree with you because the Millennials are clueless in how to do anything without asking "Alexa" which will make it much worse.
You are correct however that it has already started.
Anyone can see that if they are paying attention.
All the leading indicators are pointing in that direction.
Just look at the rise in food prices lately.
But a great time to pick up a bargain.
dolno I have waited my entire life for this to make a full circle so I can do exactly that.
My first purchase will be a new retirement home in a sunshine State that some poor soul simply can't afford to make payments on two homes anymore.
Rather then to lose it to the bank they will be selling it for what they owe on to save their credit rating.
People will be having their second and third cars repo'd because they won't be able to make payments on them so no doubt will be a good time to pick up a new used vehicle cheap.
I just bought some stock in CSCO because they sell security camera's and I know their sales will sky rocket once people start getting desperate.
People are so spoiled in their comfort zone they are clueless what is about to come around the corner to bite them.