The economy is more than the stock market, it is largely the efficient movement of goods and services which do not need a stock market. Commodity futures markets are not the same as Wall St. stock exchanges which are tied to central banking liquidity accounts through Fed intermediaries which are the big banks.
The suffering would be a crashing of retirement accounts which were stupidly used to prop up Wall St. a couple of decades ago when pension liabilities were created through mismanagement and larceny.
Wall St. has now taken over retirements of millions of Americans which is akin to the fox guarding the coop. It should never have happened. It is a recipe for continued bad behavior. There should have been hard reform of pensions rather than ERISA legislation allowing the wolves of Wall St. to feast at the retirement accounts of millions.
In effect, the Central Banks have formed their own protection racket. It can crash and cause pain but POTUS won’t let it happen. But it should.
As for the American economy, it will be fine in any event.
What would happen if millions of Americans cashed out their retirement accounts and bank accounts at the same time? Let’s say around 5-10 million?