When interest rates start climbing, mortgages,creditcards,lines of credit will not be paid.

[Swede]

Then what?

[Lifelong Protester]

1. Yeah, are "they" going to repossess the whole country? Give us

all crappy FICO scores? What?

[Swede]

3. They'll probably take your car first,then freeze your credit card.

Then........

[Avalux]

2. Anarchy......remember those huge containment areas (prisons)....just sitting there waiting....

People won't be able to pay their bills or feed their families or worse - won't be able to afford cable to watch TV.

I can imagine what will happen, and it won't be pretty.

[Lone_Star_Dem]

4. Another Banking Industry collapse?

The politicians won't let it get to that point. If they have to, they'll drug all the teabaggers in Congress and vote for them before it becomes a threat to the bankers.

However, if you're a little guy with a balance on a variable rate account, I'd be worried about if I was about to be socked with insane interest and an increasing minimum payment I may not be able to afford. :(

[emulatorloo]

5. For one thing even more people will lose their jobs

House Republicans seem eager to see this happen, they don't thing it will be too bad