Oh I'm sure it will be third world in your eyes but who really cares about that. We've gone third world so many times before: the Irish were considered third world, the Chinese less then that. Then there were other backward nationalities, Poles, Italians, Jews, Spaniards (although in all fairness, St. Augustine was a thriving community with schools and a university while Jamestown was struggling to make it through the winter...but of course we don't want to remark on Hispanic successes). Oh, and let's not forget the Vietnamese...coming over here ruining the fishing for decent American fishermen, starting up farms and business...definately third world there. And we got the Somalians and Ethiopians now...not exactly English stock there.
Yep, probably will be third world but not bankrupt...they're taking over our universities and technologies don't forget.