Now, I’m starting to think the US is already a failed state. I’m pretty frightened to be living in this timeline. It’s like the collapse of Rome, but with wifi, vape pens, memes and nuclear arsenals.
There may be a resurgence in covid cases in the US shortly, but it's interesting that there are some countries not named America, Italy, or Spain, that are seeing daily growth of 5-10% and we're not talking about them.
As for someone living in Australia, you'll be fine in that corner of the world. Why do you think so many billionaires are buying bunkers in New Zealand?
(While not a member) Australia relies on NATO. Without it they would exist at the mercy of China. Without the US, NATO goes limp, especially in the naval power department.
Australia is as safe from a war in Eurasia as the Americas are. The events of WW2 made that quite clear. Imperial Japan even at its greatest extent was only able to make bombing runs on Australia's north coast. Frankly, there's nothing really worth fighting over as far away as Australia is from the rest of the world. Australia's key foreign policy objective is to play nice with the global naval power. Not because it needs protection, but it needs to not get locked out of the global shipping and trade network.
This can be alleviated by fixing housing costs in the most productive cities - SF etc. - where the most intelligent and productive people congregate. Cheaper housing will encourage these people to have children instead of forgoing them.
It can also be fixed by fixing immigration, so that the most intelligent and productive can migrate, ensuring diversity (no more than 10% from any one country) and equality (no more than 50% male from any one country).
The country also needs to fix the 'welfare cliff' - where under certain conditions it is more financially rewarding to have children and not work than to do the opposite.
You can barely convince these intelligentsia that street defecation is problem that can actually be solved. No thanks.