I agree that a collapse can happen quickly. We have seen tremendous volatility in the last 6 months. Loss of investor confidence seems is hard to control.
I do not agree with his warnings about tax revolts. The rats have created a tyrrany of the majority in which the masses steal from the most productive. The most productive will respond in ways that enrage the rats even more. They will produce less, employ less, invest less, and work less. The really wealthy will move assets to escape confiscatory taxation. I see even uglier class warfare as the impact of the tax confiscation sinks the economy.
Many factors will contribute to a meltdown. At some point, runaway government spending will cause a crash of the dollar. Trade wars, energy shortages, labor strife, health care shortages, crushing entitlement debt, and massive unemployment may occur.
It’s a bit creepy, but it seems that the predictions in the book, The Sovereign Individual, are coming to pass. The authors say that nation states are on the decline, and that power will become more decentralized. Just look at how impotent the major countries have been against a small band of crack-head Somali pirates. We could be in for some dark, chaotic years, similar to what happened when the Roman Empire fell apart.