It’ll be fun to see what sequence of events the collapse will set into motion.Two things are for sure...1) the Euro will plummet and 2) so will oil.
The will petition Congress, who will then petition the Federal Reserve to print more money out of nothing. Loans will be restructured and due dates will be extended, etc.
The American taxpayers will be the patsys. The dollar will buy less and there will be a back-door tax increase in the form of inflation.
Then the American government will say that there is no inflation because the indicators that show inflation won't be counted.