We'll be seeing more videos like the one above. An estimated 6.1 million delinquent homeowners will lose their homes in the near future.
Financial blogger Yves Smith discusses the possible beginning of a violent backlash, the most notable example being the man who burned down his house and flew his plane into a federal office building in Austin on February 18th:
Note that he sees his violent response to his economic plight as a political act, a blow for freedom. I am certainly not advocating this course of action. But others start connecting at least some of the dots this way, seeing their financial stresses not as the result of bad luck or lack of sufficient effort, but as an indictment of the system. Given the breakdown of communities (for instance, the fall in involvement in local civic groups and shortened job tenures, both of which lead to weaker social ties and greater isolation), the odds that the disaffected will turn to violence is greater than in past periods of stress.
Violence certainly is not the solution to our problems, but that isn't to say that the growing anger in the U.S. isn't justified. If more isn't done to stimulate the economy and create jobs, desperate people angry over the nation's economic inequality will take matters into their own hands and the results could be disastrous and deadly.
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