Dynamical simulation of the cascade failures on the Europe and United States (U.S.) high-voltage power grids has been done via solving the second-order Kuramoto equation. We show that synchronization transition happens by increasing the global coupling parameter K with metasatble states depending on the initial conditions so that hysteresis loops occur. We provide analytic results for the time dependence of frequency spread in the large-K approximation and by comparing it with numerics of d=2,3 lattices, we find agreement in the case of ordered initial conditions. However, different power-law (PL) tails occur, when the fluctuations are strong. After thermalizing the systems we allow a single line cut failure and follow the subsequent overloads with respect to threshold values T. The PDFs p(N_{f}) of the cascade failures exhibit PL tails near the synchronization transition point K_{c}. Near K_{c} the exponents of the PLs for the U.S. power grid vary with T as 1.4≤τ≤2.1, in agreement with the empirical blackout statistics, while on the Europe power grid we find somewhat steeper PLs characterized by 1.4≤τ≤2.4. Below K_{c}, we find signatures of T-dependent PLs, caused by frustrated synchronization, reminiscent of Griffiths effects. Here we also observe stability growth following the blackout cascades, similar to intentional islanding, but for K>K_{c} this does not happen. For T<T_{c}, bumps appear in the PDFs with large mean values, known as "dragon king" blackout events. We also analyze the delaying or stabilizing effects of instantaneous feedback or increased dissipation and show how local synchronization behaves on geographic maps.