Umair, all true observations, thanks for posting.
The thing is, right now what we are seeing developing in US, is what we are also headed for in UK, where you and I both live, because we can see our government here appears to resemble the average Trump supporter, in that they can see no wrong in what he does, we are following one footstep behind, every move.
Our government including even “The opposition” might as well be wearing a MAGA hat.
So, while we watch developments in the US in horror, that horror should include a big fat warning, that it is what is next for us also in UK, if nothing changes.
Way I see it, there are two ways things can go.
A repeat of history, where the fascism achieves its ultimate goal of war with other countries.
Or something never seen in history before, which takes advantage of things which are unique to these times, including the internet, digital money, and widescale access of ordinary people to currency markets, across the world.
All fiat currencies may now detach from asset values, without affecting their ability to trade relative to one another.
In other words, if they all crash together, it isn’t actually a crash for anyone, but the beginning of free money, which solves every problem.
The fifty years of deterioration towards the current state of affairs you identify features one common individual mindset of rich and poor across the board in all countries; the idea that wealth is something to be acquired and possessed, by whatever means possible.
To fix the problem, that mindset has to be discarded. The issue of massive free stimulus to all people has to be enabled, which will result in asset values being lost, but no-one needs those in the presence of free money anyway.
Again anyone doubting this just needs to look up at the sun, to see the way nature works, the sun does not demand any return for the wealth it gives out in energy for free every day, it is infinite and free, shared by all of nature, who use it to add value to our world, so why shouldn’t money, our human made empowerment medium also work in the same way?
In any case, we will follow the US down whichever path it takes, towards fascism and oblivion, or towards ridding humanity of the mindset at the source of all the problems we see, by massive free money adoption.