Mexico had never expected America to default on her debts. But they failed to recognize that the common American felt no compunction against refusing to pay off a debt they had never agreed to. When the federal government ran out of money, the States simply refused to cover the debt. The world economy had been on the edge of collapse for decades, with ever increasing levels of debt barely held at bay by matching increases in production and consumption. It was the Twenty First Century’s version of Mutually Assured Destruction. No economy could survive without all of the others. America’s economy was the first to collapse. It was not the last.