Why homestead? Good question. The administration in Washington DC doesn't seem to understand that the US is currently the the largest debtor nation on earth.
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 18 Jan 2010 at 08:18:21 PM GMT is:
$ 1 2 , 2 7 3 , 7 7 0 , 3 9 8 , 7 3 8 . 2 9
The estimated population of the United States is 307,677,419
so each citizen's share of this debt is $39,891.68.
The National Debt has continued to increase an average of
$3.88 billion per day since September 28, 2007!
Concerned? Then tell Congress and the White House!
How do we get out of this mess? Current interest rates on Govt T-Bills is artificially low due to the Federal Reserve printing money and then buying debt - this situation is artificial and cannot last. Sooner or later interest rates will rise or inflation will increase (or both - hello Jimmy Carter) and American families will feel the pinch of reduced buying power.
Creating a homestead is our attempt to hedge our bets by having some hard assets for personal use. If the dollar holds strong then we have improved our property value and enriched our lives by allowing God's creatures to teach us some of life's lessons.
Chai Chai has done a bit of light reading and is convinced that Homesteading is the way to go. Can we defeat the norther Minnesota wilderness? Time will tell!
A lot of people in this country ask themselves; "What should I do today?" After reading the incredible blogs of other homesteaders I get the feeling that we will be asking ourselves; "What is going to happen to us today?"