I disagree with sentiment that all will just blow-up to nothing. I rather see that,

first: inflation kicks in and people panic sell their assets to cover costs, causing a collapse in stock and crypto prices.

Secondly: the central banks will raise intrest rates to siphon money out of markets whilest governments raise taxes, causing companies and people to go bankrupt.

Thirdly: decades will be spent on slow growth and instability trough-out west.

From losers to victors:

Worst losers are going to be the ones running their fancy-lifes with debt.

Second worst losers are going to be the ones who have debt but no lifes.

Second best survivors are going to be the ones with no debt at all, but not much other wealth either

Best survivors are to be the ones with no debts and bunch of cash and other assets(like crypto) that are not tied to businesses that are heavily impacted by economy, and who are able to survive with their savings past the collapse and then purchase things.