At this point you may be tempted to think that America has been through extremely tough economic times before (The Great Depression for example) and came through them okay. So what is so different now? Well, the truth is that the character of the American people is dramatically different. At the time of the Great Depression, the American people were tough, self-sufficient people who knew how to live off the land. Today, most Americans are weak, spoiled little children who will throw a temper tantrum whenever anyone tries to take their toys away. The character of the American people has been decaying for decades, and there is no way that the current crop of Americans has any chance of weathering a horrible economic depression the way Americans back in the 1930s did.

$700B -> $12T