I hope it doesn't come to that, I really do, but can't rule it out. To me none of this is necessary, it is actually in the hands of those with power, what their future will be also. If they are clever, they should be realising now we are headed down a cul de sac, with them in the lead. If they do a u-turn now, acknowledging money has to be issued for free, that there is actually no need for scarcity to be imposed by austerity, then they will get to stay somewhat in the lead, battered but still alive, and mostly still respected.
But if they carry on charging into the cul de sac, claiming they know best, then I fear they will really suffer, ending badly in the hands of the vast majority of folk who will see them as fully responsible for where we are.
We will reverse, in my opinion, and be back to growth afterwards, but it will be a different, much more sustainable kind of growth, not built on the collective insecurity we've always felt, as a result of always worrying where our next energy meal will come from, we will work it out that the energy we were always supposed to use is from above, not below, and it is limitless, and given for free, no labor demanded in return.