Late stage capitalism; is that a real thing?

I've moved back to the US, part time, now living in both Honolulu and Bangkok, where I'm still employed.  We moved back so our kids could get a US education, to the last place my wife and I both lived in the US.

It's interesting considering if changes in the US really do relate to a late-stage capitalism theme, or if that construct makes no sense.  I mean if negative factors like overemphasis on consumption really do bundle with a problematic wealth divide, trade imbalances, homelessness, drug epidemics, public shootings, other crime, and a radical political divide.  Surely some root causes must be common, and others not as closely linked.  It's less clear if other "developing" countries would experience some, most, or all of this.

From living in Thailand most of the last 18 years I can see which parts seem to parallel US experience, and to some extent which don't.  Maybe the middle class in Thailand is already separating to a higher and lower end, and the wealth gap may be dividing.  Not like in the US yet though, where 1% hold most of the wealth, and 30% have no net worth at all.  Maybe the bottom end is similar; plenty of people are quite poor in both countries.  Politics are also a mess in Thailand, but it takes on a different form, not one that people seem to argue over as much.  It's only partly related but the "retail apocalypse" and replacement of some forms of retail shopping by online forms hasn't occurred yet in Thailand, but it seems that it may yet.

My brother has a good bit of background in economics and he is offended by this late-stage capitalism theme bundling, but it may work as a conceptual construct even if the literal form doesn't hold up.  That's even if capitalism--free market mechanisms--doesn't necessarily lead to one outcome.  It's reminiscent of Marx's now-dated ideas about natural forms of economic transition.  It seems to me that other European countries have reached very different, stable economic system conditions, but it's hard to unpack and define that, never mind make clear arguments about it.

It could be natural for people to see both extremes as most likely, that the US is an exception in lots of ways, and its problems are unique, and in opposition to this that similar patterns are playing out elsewhere, and will continue to.