As for "impending" collapse...impending has become as useless a word as tactical has. Lots of folks selling, and making money off of "the collapse".
Impending is defined as about to happen, which may not have been the best term.
I should have chosen something like Underway or In Process. This would be more appropriate because it is happening as I type. People are losing their jobs, having their hours cut to less than 30 per week, losing their insurance and things are getting worse.
So, yes you are correct. Impending was the wrong word.