It could be wildfires, a pandemic or a financial crisis. The super-rich will flee to their bunkers \u2013 the rest of us will have to fend for ourselves<\/p>\n
Though 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<\/a> by Donald Trump and Elon Musk could trigger a series of converging and compounding crises, leading to social, financial and industrial failure.<\/p>\n There are several possible mechanisms. Let\u2019s start with an obvious one: their assault on financial regulation. Trump\u2019s appointee to the US Consumer Financial Protection Bureau (CFPB), Russell Vought, has suspended all the agency\u2019s activity<\/a>, slashed its budget and could be pursuing Musk\u2019s ambition to \u201cdelete<\/a>\u201d 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: \u201cFill your boots, boys.\u201d A financial crisis in the US would immediately become a global crisis.<\/p>\n George Monbiot is a Guardian columnist<\/p>\n Continue reading…<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" It could be wildfires, a pandemic or a financial crisis. The super-rich will flee to their bunkers \u2013 the rest of us will have to fend for ourselves Though 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 … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-33632","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/33632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=33632"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/33632\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=33632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=33632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=33632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}