preface: i don't think it'll be that bad (the news sites wouldn't write about it if it was. except all of those other times but still) but there's ways it could be.
the US economy will take a hit. Probably echoing outward but who knows. I have no idea how much or where, I'm not paying attention. IT MAY BE IN OUR FAVOR EVEN, those of us who don't own "assets" in the investment sense. Those with influence may even find a way out of it, or backroom deals to rent empty buildings because it'll cost less than losing them, as they invest in them. However.
However.
If it does hit the top hard, it'll be placed on us, those of us working for places that managed those properties, or invested deeply in funds that did. Or working for anything downstream of them.
they'll "tighten their belts" by trying to lower wages paid and raise hours worked. by raising prices of raw materials, processed materials, products.
but there's no slack left in the system. they've been riding record profits, while calling price gouging on their part "inflation". they've been raising housing rent high enough that it's already most of our income. they've been gouging on medical care for decades. and all the press has ever done is enable them².
¹ not used particularly positively here, but you never know. a lot of the infrastructure built for organizing mass protest 2017-2019 was toppled when covid scattered us and then Twitter was killed
² and through that, the the legislature. Politicians who are too busy to actually read any of the topics they're responsible for, and instead just look at the news. if the last 40 years are any indication.