Yes, I've had a few long in person discussions about this today already.
It's a disaster in so many way. The least of which because it 'should' destroy their banking system in a matter of years as people with assets save them in other ways or places.
Global economics are not in a good place right now.
In my earlier discussions we happend to talk about a missionary great uncle of mine (in his late 80's) who was heard saying that Canada today is like Africa was when he was in missions. In general people really don't even know the basics of the Bible and Christianity, they've heard of it but really know nothing about it. The side comment made in that conversation was 'we may be like Africa socially now, how much longer until we're like it economically.'