Your kids will have a Third World standard of living!
There will be inflation in commodities and the money supply, but no meaningful rise in wages for most people.
People in this country will have to learn to pick fruits and vegetables like they did in the 1930’s in California since those will be some of the jobs available during the Greater Depression.
I know a guy that sleeps in the laundry room of a house that he owns. He’s renting out the available rooms just to make the mortgage payment. He makes over $100K per year at his day job.
How’s that for living standards in today’s California?