It could be wildfires, a pandemic or a financial crisis. The super-rich will flee to their bunkers – the rest of us will have to fend for ourselvesThough we might find it hard to imagine, we cannot now rule it out: the possibility of systemic collapse in the United States. The degradation of federal government by Donald Trump and Elon Musk could trigger a series of converging and compounding crises, leading to social, financial and industrial failure.There are several possible mechanisms. Let’s start with an obvious one: their assault on financial regulation. Trump’s appointee to the US Consumer Financial Protection Bureau (CFPB), Russell Vought, has suspended all the agency’s activity, slashed its budget and could be pursuing Musk’s ambition to “delete” the bureau. The CFPB was established by Congress after the 2008 financial crisis, to protect people from the predatory activity that helped trigger the crash. The signal to the financial sector could not be clearer: “Fill your boots...
The article by George Monbiot explores how Donald Trump's policies could precipitate a global collapse. Trump's dismantling of the Consumer Financial Protection Bureau (CFPB) and environmental regulations, along with his weakening of public health measures, could lead to crises such as financial meltdowns, climate disasters, and pandemics. These actions threaten systemic resilience, as they remove safeguards that protect against cascading failures. Monbiot highlights that while the super-rich might retreat to bunkers, the majority would face severe challenges, underscoring the potential for widespread social and economic upheaval.