Comment by lenerdenator

Most 401(k)s are backed by stocks and bonds. At least in the short term, yes, they'll do great as labor costs shrink in relation to the money earned by selling goods and services. However, if you have fewer and fewer people able to consume because they no longer have income, well, then you have the same problem as you do with housing and social security.

People say that universal basic income is a fix, but let's be honest: employers don't pay people more than they absolutely have to right now, and that's with most of the value earned for the employers being provided by people doing actual work for them. What makes anyone think they'll gladly cough up for those who don't work for them, especially at an amount that will allow most people's standard of living to either remain steady or improve?