Tuesday, March 22, 2011
Is this true? I don't know. Business Insider is taking it seriously and I've not often read anything completely crazy there.
Would it be possible to get 20% of the mortgage holders in America to do this? I don't know. While it's probably fairly easy to get the usual suspects to show up to a labor rally you have to consider that most of those people are young or generally unemployed or in jobs that the union controls and they can get off work with no real consequences. In other words, the usual suspects got nothing to lose by going to a rally and marching around shouting.
But there are real costs associated with not paying your house payment, even for a few months. You stop paying and your credit score gets slammed. A lot of employers look at those numbers and base your employment, at least in part, on them. You'll get nailed with late fees and God only knows what other charges. You could get sued or maybe even foreclosed on.
So the question is whether or not SEIU or anybody else could get 20% of American mortgage holders to take that chance. I'd have to say no but then I'm wrong a lot.
At the very least it's good to know that the threat is out there so if we start to see something like this fire off we know what it is and we can brace ourselves for the repercussions.
Prepare and pray. This is shaping up to be a really interesting year.