>>Europe is heading for another major downturn (in my opinion)<<
The Europeans are more accustomed to hardships than spoiled Americans are. They will weather the coming storm better because of their homogeneity and there will be less social unrest(or do think that our strength is in our diversity like the lefties claim?)
Yes, the elite “aristocracies” of Europe will survive. They always have, they always will. The working class folks... not so much. But that is is the problem.
Also, like America, European countries are importing their own troubles — Muslims who refuse to assimilate.