Grim view Dave, but highly likely on current trajectory.
No-one wins in such a scenario, just lots of suffering, with little reason, even the rich would not enjoy it much.
The trajectory could be changed, together with the global pollution issues, almost instantly, if the phenomenon and implications of money-as-sunlight were to be acknowledged and put to explicit use.
The usual messages of "How much will it cost", and "We can't afford it" would be heard no more.
Most of those mindlessly following the path of fascism would respond very quickly to the message of free money, they are embittered by chronic poverty, which could be instantly fixed.