So what would happen if....

[Union Thug]

... 50% or more of the population of the US decided one day to stop paying on any of their debt - credit cards, auto loans, home loans, etc?

Just asking...

[Cleita]

1. Well, I could see 50% of the population without homes, cars,

or any other assets they can rob. Don't worry, the banks and CC companies have their asses covered at your expense.

[Union Thug]

2. You think?

I seriously don't know.... I'm hoping to see some scenarios played out. What kind of blow to the economy would it be? Would the credit card companies go bust?

What are the potential scenarios and outcomes of an 'economic strike'?

[Cleita]

5. An economic strike? Now that's different.

You have to pay your bills though. Letting them make a jailbird out of you isn't cool. Now if you can, you can pay off your credit card balances and not charge anymore. It's the interest they make money off of. You can do what I do in good times. I charge, but pay off the balance. They hate that because they don't make any money and they have to send you a bill, which costs them money.

Also, don't buy anything but bare necessities. Do anything you have to do not to buy gas. Walk, bicycle, roller skate. Whatever it takes that you can do. Shop at small businesses, even though you may have to pay a few extra dollars. Boycott Wal-mart and the other corporate behemouths.

[HopeIsNowHere]

3. How about property tax, income tax etc?

Why stop at commercial dept?

[scaredamurikan]

4. The prisons will fill up

The IRS will not stand idly by