Greenland or Panama could be the end of Trump
I can't see any military leadership executing orders from Trump to take Panama or Greenland. There's no pretext to do so. This would amount to an illegal order, which the JCS would probably refuse. This would be bout as close to a coup as we could get. There might be some independent-minded commanders that might take things into their own hands and move regardless of what the JCS says, and internal divisions in the military in the response to that. The result could seriously damage our defensive capabilities for decades.
The US doesn't need Greenland to police the Northern Passage, it would just shave some time off of existing patrols. As long as Panama doesn't do anything that could inflame the relationship (like taking a ton of Chinese money of giving them preferential access to passage) then there's no pretext to an invasion as we saw when going after Noriega.
As part of NATO via Denmark, invading Greenland would set off Article 5, triggering a war between Europe and the US. Were that to happen, Putin would immediately move against the Baltics, Finland, and Poland.
This would set up a bit of a constitutional dilemma, and likely chaos in the house over an impeachment vote.
I'm hoping this is all just some smokescreen to force the Europeans to do something he wants, like increase defense spending, or to distract us from seeing some domestic behind-the-scenes BS. There are plenty of people in his circle smart enough to orchestrate something like this, but I doubt Trump is fully aware of the consequences of his actions.