For sure some fancy footwork will have to be done, & despite the fact that I'm agin the levellers, if I thought something like this would be the solution to the emergency then I'd gulp & swallow it.

It can't be though because 'the economy' is the sum of billions of interconnected actions, human activity in other words. Money is just the lubricant, important though it is.

Reduce the activity, as has happened, & you have no economy, not a 'failed' one, implication of 'failed' being that some smartarse with a better idea than the market will ride to the rescue.

Politically I'm sure this will have a wide appeal, so I'm braced for some version of it to happen, that is unless uncontrollable hyper inflation doesn't set in & really ruin everything.

Buying stuff that's built to last, expensive though that is, is my reaction to this. That should cause my net worth to drop...fuckit, at least I'll have a decent pair of shoes that will see me out.