Even if 'only' 30% are floating mortgages and say, half of that number default and the banks move to repossess, that's still enough to crash an economy.
Look, I like your optimism but, optimism doesn't fill stomachs at the foodbank when the food runs out, as it is now right across the USA where people are heading to food banks in droves.
More astute numbers to consider: 63 million capable adult men are unemployed across the USA who have given up looking for work- they're aged between 25 and 54 and are not institutionalized by the military or prisons. They've given up because there's no jobs paying above $8 per hour anywhere and so, they're maxing out their credit cards and have blown all their savings. That stat/reality is going to bite hard in the next few months...
