No Stupid Questions

I am not an expert per-say on AI, but I have survived economic collapses. Kinda.

Here's what you can expect.

It will happen a lot faster and more sudden than you expect. It will be a few days of "uncertainty" and you will see reports on the market and spending and fear through investors, and then BAM everything goes deep red for a few days and then you suddenly get sent home from work.

Your job, no matter how skilled or stable or unrelated to finance or the stock market you may think it is- is NOT safe. In fact, service industry jobs are often the first to go, because when the market tanks and investors start pulling out money, one of the first, strongest effects we feel is that people with money immediately stop spending. If you install windows and doors, if you cut grass, if you clean or cook, expect people will suddenly start doing that themselves more and more. You may get laid off suddenly depending on how much reserve your company has.

There will be an immediate and overwhelming strain on state and city services. Unemployment offices, food banks, employment centers, and expect the media to create a LOT of hype around it to a destructive degree, there will be the same kinds of supermarket raiding like we saw with covid for no real good reason other than people feeling afraid.

What you should do now to prepare:

Have backup income plans. Even if modest, have some hustles ready to deploy. Get certified or see what you need to get certified ahead of time to do Uber and/or Lyft, people are going to be using ride sharing more because they won't be able to afford to drive or make car payments. Think about other services people are going to need if they don't have jobs - handyman work on the cheap, dog and pet care, unlicensed work you know you can do safely, etc. If you or your family can do art and crafts, set up an etsy market now before you're strained, open it up to international customers.

SAVE MONEY, have cash savings as well as bank savings, have gold too if you can swing it. Expect any accounts that are tied to investments to be frozen or even wiped out, such as 401k's and the like.

Whatever you can do to reduce debts and spending - pay down or pay off credit cards or cars if you can. Get your finances in order as much as you can, so figure out exactly what you're spending and what your margins are.

Stockpile canned goods and basic survival supplies ahead of time like it's the goddamn apocalypse. Seriously, have at least a month of dry goods and preserved food, you have some time (maybe) so start collecting canned food, sacks of dried beans and rice, toilet paper and soap, other supplies you buy regularly. This will give you a safety net if it gets bad, it's one less [major] thing to worry about as you shift around your expenses and priorities.

Get information ahead of time about where your local DES/unemployment offices are, and what's required to apply. Find out ALL the programs you can apply for, from, nutrition assistance to grants to stipends or tax credits for whatever your family situation is. You won't get through on the website, it will be crashed with traffic, so be ready to go stand in line with your paperwork. You will get some number of months of benefits if you qualify (requirements vary by state) and most likely after some political contention, congress will pass emergency funding for extensions and stimulus checks. But it won't last forever.

Go visit your nearest food bank now. Bring them some food and socks, get to know who runs things so that when it's your time to stand in line, they know you already and have good associations.

We don't really know how bad it could get. So get a gun. There may be civil unrest at some point. Our world is about two missed meals away from anarchy, or at the very least crime will increase and homes will get broken into, and police will likely be understaffed and overworked. You will be on your own.