argenti argentina's per capita fell to fifth. han half from nearly $8,000 to less than $3,000. for argentina's 2013 they are langing behind on wednesday. virginia senator mark warren said american families should see argentina as the real cautionary tale. >> we are not over 100% a year. every argentine family lost 50% overnight. we are not arjgentina, but we ae playing in uncharted territory that no industrial nation had played with. >> there important differences between argentina's default and what happened here. the chance they would refuse to pay their debt is essentially zero. even if you got paid late, you would get paid. they are a linchpin of the global system and if other countries start thinking they are not a safe investment, that's when you have a big problem. >> do you think of any failure to repay the debt would be felt right away, leading to potentially major disruptions in financial markets, both in the united states and abroad. we see this as a terrorist risk, but wait to happen, it would have major consequences.