[throwaway632]

Where do you live? Are there other economic opportunities there for a smart, motivated ex-programmer?

Many programmers are good enough generalists to displace people in other jobs if the work dries up. Just like Teach for America college grads displace and outperform professional classroom teachers.

[dukeyukey]

I'm in London, where I earn enough to rent a 2-bed 700sqft flat. Not exactly retraining for years money. But in any case, I think I'll be fine, it's others I'm worried about. I grew up in a poor rural area - I've seen what sudden unemployment does to people, even if they are smart and motivated.