1. Insurance companies stop offering fire and hurricane insurance to forested/coastal area properties.
2. Major fires and hurricanes hit and millions of people lose everything (because they are now uninsured) and have no place to go.
3. Local governments are unable to support the citizen climate refugees, so FEMA is tasked to manage the new refugee camps. There's a massive unbudgeted cost to all of this in the hundreds of billions of dollar range that significantly increase the US deficit.
4. Fed continues to try to make money cheap by holding down interest rates, but China realizes now's their chance to crush the U.S. government and stops buying T-bills. Interest rates rise despite the Fed.
5. The rise in interest rates has a cascading effect across the entire U.S. economy which was taking way too much advantage of low interest rates. A major recession occurs. Inflation hits 10%+. Migration away from the dollar as the default world currency occurs.
6. We're fucked.