"I think the goverment would halt repossesions, unless they want a fully fledged revolt on their hands."
That's the part I'm not so sure about. American companies don't have much foresight, and governments don't have any. They are both perfectly capable of screwing everything up, and guess who pays?
Besides, most Americans have been so brainwashed that they aren't capable of thinking for themselves in any rational matter. Why do you think the public school system was created? There were far more literate people in the late 1800's (per capita) than there are today.
Greed runs the world these days --- common sense has almost disappeared.
I guess it's just a matter of wait and see.
Sue