The last downgrade was strange and funny, in a way. Downgrade the dollar to show how risky it is, and gobs of rebels from various, pro-foreign and other interests pump it up higher by moving monstrous amounts into our treasuries. At least one of the future retaliations of that nature won’t be so funny, though. Eventually, that behavior will very adversely affect our exports and what’s left of American jobs (dollar too internationally high). IMO, the global markets aren’t really so free.
The economic collapse can be put off to buy time for all who will wisely use the time, but it appears that there’s no way out of a complete collapse.