The Central Myth of the Conservative Movement

Conservatives run for office promising smaller civil government and lower deficits. When they become elected, government and deficits continue to grow. Part of the reason for this is the central myth of the conservative movement.

You will hear it in speeches, read it in articles and see it in blogs and comments: "Get back to the Constitution." This is an expression of the myth that the U.S. Constitution is about limited government.

Gary North takes on the myth here:

The U.S Constitution: Tool of Centralization and Debt, 1788- Today

The Second Wave: ARM's

From now to the end of the year, an increasing number of adjustable rate mortgages (ARM's) will reset to higher interest rates. This will mean huge increases in monthly mortgage payments in a very tight economy. Many would-be homeowners will not be able to make those payments.

The video below shows a chart of when these ARM's are scheduled to reset. Pause the video there & study it.

The rate climbs from now to the end of 2009, and then it drops off a little in January/February 2010. Then it begins to expand at an almost exponential rate.

Since someone normally must fall three months behind before the bank forecloses, I would guess that we will see foreclosures begin to accelerate in January, 2010.

Deficit Spending Video

Thanks to Gary North for calling my attention to this video.

Will we crash before we get to the West coast?

Freedom from Debt

My wife & I have always viewed debt as an emergency situation. In almost forty years of marriage, we've borrowed money three times for cars and held two mortgages.

Two of the car loans were bad experiences that we hope not to repeat. We paid off both mortgages early, which means that we now "own" our house & property free and clear.

(I understand that in America, no one really owns his property, as it is subject to "rent" in the form of property tax, which if you do not pay, you will be evicted from "your" property. Thus, the civil authority owns all land & rents to those who think they own it.)

Since we do not struggle under a great burden of debt, we have done pretty well on a much lower income than the average American. We have also come to realize that we can buy pretty much anything within reason, IF we are willing to save up for it.

Many are not in that position. If that includes you or someone you know, you may be interested in a new website designed specifically to help Christians get out of debt:
deliverancefromdebt.com
There is no cost or fee involved to use the program which includes 12-week "Deliverance from Debt" course. Volunteer counselors are also available to advise and encourage those struggling with the debt-based lifestyle.