As I see it there are 2 possibilities: people shift towards your narrative (or similar ones) OR there will be massive unhappiness, resentment, bickering and suffering.

totally agree... this is where cluing in early can help one psychologically prepare, both to take the first of your suggestions, and try to influence those who are left jonesing from the latter.

the people without power on the E coast will be getting to know their neighbours in ways they probably never would have otherwise, in a good way hopefully, as they wait around for their power to return. not much else to do than help your fellow stricken.

cagatacos:

It is obviously possible to be very happy with much less.

yes it may be only possible to be very happy with much less!

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty