Imagining a world where AI delivers as advertised...

While not my belief, let's forecast a future where AI performs to the most extreme bull case.

Job loss outweighs the Jevons Paradox and we end up with > 20% unemployment.

I would assume that we'd ride the balance of cost of labor vs cost of tokens.

This would have a deflationary effect, which would increase the share of the budget consumed by interest to the point where we could enter a debt spiral.

In this environment, wouldn't bonds be the best game in town?