What has happened, in a nutshell: The US shut down/shipped out a huge chunk of our jobs since the 1980s, ended actual welfare aid in the 1990s, creating an abundant surplus of job-ready people who are absolutely desperate for any job at any wage -- grateful for the chance to replace you for less than you are paid. After all, there's nothing to fall back on. We maintain our race to the bottom. The poor lack the money and means to organize and push back, and workers aren't going to risk losing their jobs.
Meanwhile, years of work went into splitting the proverbial masses apart by class and race, pitting us against each other.
Understand that the US itself is an economic entity, and every aspect of our lives is determined by economic/class status. Today, we are witnessing the continued implementation of fascism (by definition) in the US. We've been rolling it out since the 1980s, from the bottom up. People pointed it out, and were scolded as being "melodramatic" and divisive -- especially divisive because they dared to point out the role played by the Clinton faction.
Now what? We don't know. We don't know how extreme things will get, much less what people (which people?) can do anything about it. There will be no sounding of cannons, no overt implementation of the fascist military state, though things will worsen, and many more will go under. I assume we will adjust, as we've been doing since the Reagan Revolution was begun (ah, you didn't know it was still ongoing? Well, that's another discussion.)