'and the ever-growing cost of adapting to climate change and responding to climate disasters. '

At least he's not a climate change denier.

He does seem blind however to the probability that China, having already won the trade war, looks likely to continue rising in wealth and power as the US declines.

More generally he states-

'How and when a debt crisis in the United States could unfold is now the $37 trillion question. In one scenario, the trigger will be a collapse of confidence by investors in U.S. Treasuries—a “crack in the bond market,” as Jamie Dimon, the CEO of JPMorgan Chase, warned in May—meaning a sudden spike in interest rates that revealed a larger problem. This is not as hyperbolic as it may sound; debt crises often build up steam quietly for what seems like forever before erupting unexpectedly. Alternatively, investors’ growing fears about the safety of their money could cause a gradual rise in Treasury bond yields over many months or even years.'

Sounds about right.

While China enjoys trillion dollar trade surpluses and continually increases its already formidable competitive advantage over all competitors.