Yes it actually happened in a game I played last night. The USA massed at Hawaii, and spent all in the pacific turn 1. Turn 2 it went with a more balanced buy, but it kept Japan from expanding as quickly as it could have. Russia also attacked Korea, and was a pest for several rounds.
Japan attacked the UK, and USA on turn 3……but the pacific build and Russian attacks were key in slowing Japan down.
In the end Japan held on long enough for Germany to take all three Russian factories on turn 7. The USA had a massive fleet, but Japan was still making 40 each turn, and had a massive airforce. We mock rolled the battle that would have taken place the next turn if the USA would have attacked…Japan won with 8 fighters remaining in its SZ. USA would have won the land battle if it had won the sea battle.
Second full game of global the first was a draw slightly favoring the allies, this was the first win for the Axis.
If USA had gone full KJF it may have been slightly harder to win.