I suspect the election of Donald Trump set off the hysteria, but the problems had been building for almost 30, maybe 40 years.
The root of the problem is that people with an entirely different mindset and vastly less talent than the people who could actually build and maintain the complex systems of society seized power. (They had power in national politics for far longer, but they had vastly less influence in the world of business and state and local life, where they were essentially space aliens in the 50s/60s/70s.)
They found out, one hijacked system and institution at a time, that they had no idea how to actually keep it functioning themselves. To keep it working, they needed the people they displaced and despise, which wounds their narcissistic vanity. Instead of keeping and promoting productive men (who would be a political threat purely due to knowing what they're doing when the master doesn't), they started outsourcing everything Harvard Business school didn't prepare them to actually manage.
They know things are falling apart under their rule. Hillary Clinton once unguardedly claimed that the role of American politicians is to "manage the decline", which they see as an inevitability. They also know that they cannot allow people to fix things. If people were allowed to start fixing and running their own communities and businesses on their own initiative, the wrong sort of people would start becoming rich again. Wealth leads to leisure time to pursue longer term goals like political influence, which would ensure that the grip of the robber-sociopaths would be loosened. They would have no chance, gripping their dead zombie institutions, against a competing political class fresh from building functioning industries that fix problems and employ people.
All the madness is an attempt to sow chaos to keep people from finding their feet (also just the result of incompetence with actual productive/creative work.)
The hyperinflation keeps people whose source of wealth is production instead of finance from storing wealth.
The rioting keeps local small businesses (like that famous bookstore in Minneapolis) burnt out and poor, rather than the nucleus of organic community.
The refusal to perform any kind of generational turnover keeps anyone with any kind of empathy for their youner peers from defecting and giving them a better deal, instantly outmaneuvering the other zombie institutions. Things have to be kept *uniformly* awful for the robber-sociopaths to keep power.
The shortages are part of keeping people powerless, but also just a natural consequence of retards outlawing fertilizer.
The attacks on farmers and livestock producers are a bid to keep people who have always had a large degree of natural independence from becoming a competing political elite.
The anti-male and anti-white racism are part of beating down people who could become dangerous. (Dangerous due to the possibility of knowing how to fix things and run things well.)
The lockdowns and censorship are a direct bid to keep people from developing alternative associations.
It's basically all about suppressing the competent so that no one turns to them in preference to vicious abusers who only know how to make speeches, connive, and fuck things up.