Funny. Far more likely that you'll just be paid less for your work than before and things will keep costing more so you find yourselves in poverty and stuggling to live. That's the Great Depression, something we're all sliding into. http://www.vanityfair.com/business/features/2011/11/michael-lewis-201111
Good article about municipal bond defaults here in the USA. Picture the road upkeep that can be paid for when the city or county you live in just declared bankruptcy.