IMO it’s better to phrase it as, “The economic system has already collapsed for the majority of Americans, and it’s getting worse. What will happen next?” Because it’s not like people will magically disappear overnight, it’s not like life is terrible for everyone all the time, and some things have improved over the last few decades.
Some people want to say “If we don’t do X, the world will end.” or “We didn’t do X, and it all went to hell, and we’re permanently doomed.” Most of the time, though, end-of-the-world stances are oversimplifications.