While I agree with your opinion for the most part, I have a comment:
When the 'hard day' occurs, most folks won't be able to 'live their lives well' because they will be figuring out how to hunt, gather and barter for things they need.
Put another way, I think that being able to stop and enjoy life is a luxury that many of us have because of the economic conditions that will lead to the 'hard day'!
It will most likely become a class issue. The 'have nots' will sink in to further despair and begin taking it out on the 'haves'. The 'haves' will continue to take their assets to more stable geographies.
