[Myrddin]

I expect a much bigger contraction of spending followed by appropriate layoffs of unnecessary employees. When disposable income is taxed away, goods stay on the shelf. Stores close. Unemployment rises.

[Richard Kimball]

At my local supermarket and Walmart, I never use a checker anymore. Dittos if I go to Home Depot.

A lot of entry level jobs are being phased out. I expect fast food restaurants to go to touch screens for orders and payments, so that all they have to have is the cooks and people to hand you your food. The majority of the people working at fast food restaurants can't make change anyway.

One of the things I've wondered about is that we have more manufacturing capacity than we have need. Any of the major vehicle manufacturers, for example, could produce enough cars for everyone to have a new car every three years, if they could afford it. However, as with agriculture, far fewer people are required to produce the product. What happens? How do you match product with consumer and worker with employment?