It’ll look pretty good for those of us who’re resourceful.
I think a lot depends on how people react. In some areas during the Great Depression, it could be argued that people did better. Places where people were more self-sufficient did fine, and in most cases did better health-wise because they were all growing their own food, and therefore eating more vegetables. Declining industrial production will instantly equate to better air and water quality. The declining oil production (the likeliest cause of economic collapse) will mean a drastic reduction of military activity worldwide, and hopefully troop withdrawals; it’ll mean logging companies will either cut less or stop cutting altogether. Suburbs will see/are seeing an increase in front yard gardening. Many Third World and developing countries will breath a sigh of relief as multinational corporations stop coercing their citizens into debt slavery, and they can get back to subsistence farming and such. Politically, we could see one large country break up into smaller ones.
The downsides come in if we don’t behave intelligently. Most of the country’s food is grown using oil for fertilizer and pesticides, and without it the plains will revert back to the Dustbowl unless we start promoting polycrops (particularly perennials) now. Or spreading that seeds of nitrogen fixers. There’s plenty of wild food out there, but even fewer people know what it is and how to use it than did during the Great Depression. Increased violence is also a possibility, particularly in cities where resources are scarce per capita, and particularly from cops and military. We could see more direct feudalism by the corporations and organizations who do it covertly now. Our communities are not set up for anything but motorized populations, so in many cases we’ll have difficulty just getting to where we need to go.
It could be anywhere from a primitivist utopia to Mad Max. Hopefully more towards the utopia, but I have little faith in homo civilis.