The jobs numbers have been terrible and revised down. Huge amounts of people have dropped out if the workforce or are employed in multiple part times or struggling seriously in a single full time.

I saw an article here about the job market for writers. I can't recall, but I think it was a blog post saying like "AI is bad and has annoying prose so GOOD writers will thrive". The comments rightfully pointed out that not everything requires good writing and many companies will "buy" writing for llm prices as good enough to save money.

I bring it up because that is where someone simply articulated the obvious point I hadn't really thought through: the cascade. What happens when millions of copywriters, non famous journalist, average graphic designers, etc. get laid off. Millions of people will drive the price of labor WAY down as this wage bubble wanders through industries popping every few months. If the supply if labor becomes massive, we will have this debt spiral or stagflationary labor market that causes chaos. Ultimately, capital owners accrue the most value and can buy tons of assets for cheap. Unless, it turns out a middle classes consumption is like...important for our country to function.