I think he is right that it is collapsing and I don't believe that there is anything redeemable about this sadistic militaristic system that was built on slavery and theft of indigenous land and the myth of the American Dream and American Exceptionalism. The sooner it implodes and disappears the better it will be for the global community.
The concern I have here is that the wealthy capital that props it up are not going to be the most hurt when it crashes down. This does not mean I think continuing it is a good thing though. It is essential for any progress in the world that the delusions are broken.