Robdar - This is mainly a USA and GB problems. Other countries may well suffer to a certain extent, without doubt you are right about that. But, it is the USA and GB that are on the verge of bankruptcy.
The USA owes trillions upon to trillions - To CHINA!
The USA owes trillions to Saudi Arabia and Japan.
The people at he very elite of the money chain, the ones who own everything have no loyalty to any nation......only to themselves. They don't care if the USA has to be taken over, reposesed, or eliminated.
700 billion dollars does not even begin to solve the USA's problems so why are they suggesting this clutched out of the air figure?
You might be interested to know however, that despite the current down turn and credit crunch that is taking place, the uber, super rich are buying more ships, cruisers, yachts, ie the ones that cost millions upon millions of dollars. So, the super rich are doing fantastically well out of the present problems.
The whole thing is manufactured for the benefit of those whose wealth is so astronomical that they really do rule the world.