1) The Church becomes arrogant and self-centered.
2) It boasts against the Jews and Israel.
3) It devalues the role of Israel or has no role for Israel at all.
4) These attitudes result in anti-Semitism in word and deed.
5) Without a place for Israel and the Jewish people today, you cannot explain the Bible prophecies, especially the very specific ones being fulfilled in Israel today.
6) Many New Testament passages do not make sense when the Jewish people are replaced by the Church.
7) You can lose the significance of the Hebrew Scriptures, the Old Testament, for today. Many Christians boast of being a New Testament (NT) Christian or a NT Church as in the Book of Acts. However, the Bible of the early Church was not the New Testament, which did not get codified until the 4th century, but rather the Hebrew Scriptures.
8) You can lose the Hebraic/Judaic contextualization of the New Testament, which teaches us more about Yeshua and how to become better disciples.
9) The Church loses out on the opportunity to participate in God's plan and prophecy for the Church, Israel and the world today.
Of this list, 3 and 5 stand out especially. If you follow Replacement Theology you get to a point where you teach that God has no end time dealings with Israel at all. You can't explain the prophecies being fulfilled today. You have to argue that the rebirth of Israel in 1948 has nothing to do with prophecy. And you have to explain away a host of other passages and prophecies still remaining to be fulfilled. The battle of Armageddon for example, gets 'spiritualized away' by some writers. Some, called preterists, even go so far as to try and make you think that all of Revelation has already happened and Jesus has already returned! Like they say, be careful where you buy a used car!
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This is common knowledge that disaster is everywhere. Its in the streets, its inside your campuses, and it can even be found inside your home. The question is not whether we are safe because no one is really THAT secure anymore but whether we can do something to lessen the odds of ever becoming a victim.