From my perspective we were the only thing that prevented even the socialist experiments in western Europe from turning into North Koreas. We were the economic engine that made it all possible. The American consumer and ingenuity supported the whole globe at one time.
I envision two scenarios -- it either all collapses in short order and then we rebuild or we descend into generations of very bleak lives.
We are going to have to wait and see how this all pans out. Time will ultimately tell. I’m thinking that we are edging more towards the first scenario(hopefully). The other scenario is just to painful to accept.