We're in deep shit here. While it's kind of psychologically useful to perhaps laugh at how badly we've screwed the pooch, sober reflection tells us that we are between a rock and a hard place.
To wit: a completely plausible scenario includes the widespread disavowal and revulsion of the theocratic rulers in Tehran by the Iranian populace after the commission of a major war crime against Israel by turning Tel Aviv into radioactive glass by Iran's leadership. One might say, "well, that's OK, after all they're out and discredited now", but I personally suspect that the people who lived in said place of now glowing vitrium would disagree.
Further, a large part of the strength of the US dollar is predicated on the idea that the US is the Big Dog of global military power. That is being revealed as not being so true as people thought. This can lead to a downward spiral; the dollar weakens as investors look for other hedges against the wane of US power, reducing the US' ability to buy military, which leads to further weakening of the perception of US power, which leads to lower value for the US buck, which reduces the US' ability to buy military, which leads to... resulting in the US in particular (and North America in general) becoming a much poorer place. This will also lead to a big change in how people will react to the society they're in. I think (though I can't say that I know) that we're in better shape for that change up here in Canada, but I can't imagine what the situation might be like in much of the large cities in the US when people can no longer afford to drive to work and have to stop working at the same time as the price of the basics like food, energy, clothes, shelter, and medicine go through the roof as the dollar devaluates.
The current cabal in Washington have stuck it to us proper. The only (rather threadbare) consolation if they've gone over the top on it this time is that most of them will end up being killed by the mob when the mob realises how badly they've mismanaged everything in the name of lining their pockets.