This was actually done before, and it almost collapsed the world economy.
"My firm offers NINJA loans: No Income No Job."
Watch The Big Short. It's an amazing movie and they even forecast how this will happen again. Looks like Gavin is trying to get us back there.
When the world economy collapses, who is affected? Everyone that contributes to and depends on the world economy. Ie everyone here.
Who isn't affected? The governments that operate above the economy.
Tribalism is great, till we are all penniless and in the same 'tribe'.