Housing costs and debt seem to be at the top of the list of concerns for many people this week. We see that reflected in the warnings about the rising national debt of the United States and concerns about housing affordability. Both could be solved by adopting the Economic Democracy Act, which of course could include the Homeowners Equity Corporation (HEC):
"Tyrannosaurus Debt"
• The Dangers of a National Debt. Janet Yellen, past chairman of the Federal Reserve, has warned that the U.S. debt is too high and the United States is now in the danger zone. As stated in an article in Fortune magazine, “At a panel hosted by the American Economic Association on Sunday, Yellen said she worries the U.S. might be getting to the point where the car is too heavy for the brakes to work. ‘The preconditions for fiscal dominance are clearly strengthening,’ Yellen warned, noting debt is on a steep upward trajectory toward 150% of GDP over the next three decades.” In 1898 Henry C. Adams warned about the dangers of a national debt, and they appear to be coming true. As he said in Public Debt, An Essay in the Science of Finance (1898), “The facts disclosed permit one to understand how deficit financiering, carried so far as to result in an interchange of capital and credit between peoples of varying grades of political advancement, must endanger the autonomy of weaker states unable to meet their debt-payments. Provided only that the interests involved are of sufficient importance to make diplomatic interference worth the while, the claims allowed by international law will certainly be urged against the delinquent states, and the citizens of such states may regard themselves fortunate if they succeed in maintaining their political integrity. (Henry C. Adams, Public Debts, An Essay in the Science of Finance. New York: D. Appleton and Company, 1898, 28-29.) Is there a solution? Yes: the tax and monetary reforms of the Economic Democracy Act.
• The “Hidden” Housing Cost Bankrupting Homeowners. As reported in realtor.com, there is a problem few homeowners expected: rising property taxes for which they are liable. As the article states, “In states where property taxes and homeowners insurance costs are rising the fastest, there has been a spike in the number of people who are delinquent on their mortgages, according to real estate analytics firm Cotality. And an increase in escrow payments may be one of the biggest risks homeowners face in 2026, Cotality warns.” Frankly, this looks like a job for the Homeowners Equity Corporation (HEC) . . . except that, too, is in danger, thanks to a potential move by the current administration (below). Of course, the underlying problem is inadequate income, which would be addressed by adopting the Economic Democracy Act.
• Death Blow for the HEC? In a move ostensibly to make it easier for people to own single family homes, the present administration wants to make corporate ownership of single-family dwellings illegal. The Homeowners Equity Corporation (HEC), however, would be corporate ownership of single-family dwellings, as well as apartments or even (conceivably) houseboats, although that last would seem to be unlikely. The “twist” is that the tenants of the homes own the corporation (the HEC) that owns the homes, making them the “real” owners of the homes. Such a law would make the HEC impossible, even though it would do more to expand home ownership than anything since the now-traditional mortgage involving principal and interest payments. President Trump may be trying to help people become homeowners, but if so, he is going about it the wrong way. If he really wants to help, he should stop all his other projects and push for adoption of the Economic Democracy Act. There is also the problem with other aspects of Trump’s ideas, such as a fifty-year mortgage.
• Gripes of Wrath. As anyone who ever read John Steinbeck’s novel The Grapes of Wrath (1939) or seen the movie starring Henry Fonda (1940) can tell you, during the 1930s, many folks from Oklahoma went to California. Now that trend seems to be reversing itself. According to a question we asked AI whether California billionaires were relocating to Oklahoma, it said, “While there is no public record of a specific California billionaire moving to Oklahoma, a significant number of Californians, including remote workers and business owners, have relocated there due to the lower cost of living and specific incentive programs like Tulsa Remote.” And what is “Tulsa Remote”? As AI explained, “Tulsa Remote Program: Oklahoma has actively recruited out-of-state workers through the Tulsa Remote program, which offers a $10,000 grant and other benefits (like free co-working space membership) to eligible full-time remote employees who move to Tulsa. More than 7,800 Californians have applied to the program, and over 500 have made the move. Those who moved through the program often cite a vast improvement in their quality of life and financial capacity, trading expensive apartments for large houses.” Of course, the real solution is to adopt the Economic Democracy Act, but we certainly enjoy the irony of Oklahoma welcoming Californians when Californians rejected Oklahomans.
• Greater Reset “Book Trailers”. We have produced two ninety-second “Book Trailers” for distribution (by whoever wants to distribute them), essentially minute-and-a-half commercials for The Greater Reset. There are two versions of the videos, one for “general audiences” and the other for “Catholic audiences”. Take your pick.
• The Greater Reset. CESJ’s book by members of CESJ’s core group, The Greater Reset: Reclaiming Personal Sovereignty Under Natural Law is, of course, available from the publisher, TAN Books, an imprint of Saint Benedict Press, and has already gotten a top review on that website. It can also be obtained from Barnes and Noble, as well as Amazon, or by special order from your local “bricks and mortar” bookstore. The Greater Reset is the only book of which we’re aware on “the Great Reset” that presents an alternative instead of simply warning of the dangers inherent in a proposal that is contrary to natural law. It describes reality, rather than a Keynesian fantasy world. Please note that The Greater Reset is NOT a CESJ publication as such, and enquiries about quantity discounts and wholesale orders for resale must be sent to the publisher, Saint Benedict Press, NOT to CESJ.
• Economic Personalism Landing Page. A landing page for CESJ’s latest publication (now with an imprimatur), Economic Personalism: Property, Power and Justice for Every Person, has been created and can be accessed by clicking on this link. Everyone is encouraged to visit the page and send the link out to their networks.
• Economic Personalism. When you purchase a copy of Economic Personalism: Property, Power and Justice for Every Person, be sure you post a review after you’ve read it. It is available on both Amazon and Barnes and Noble at the cover price of $10 per copy. You can also download the free copy in .pdf available from the CESJ website. If you’d like to order in bulk (i.e., 52 or more copies) at the wholesale price, send an email to info@cesj.org for details. CESJ members get a $2 rebate per copy on submission of proof of purchase. Wholesale case lots of 52 copies are available at $350, plus shipping (whole case lots ONLY). Prices are in U.S. dollars.
• Sensus Fidelium Videos, Update. CESJ’s series of videos for Sensus Fidelium are doing very well, with over 155,000 total views. The latest Sensus Fidelium video is “The Five Levers of Change.” The video is part of the series on the book, Economic Personalism. The latest completed series on “the Great Reset” can be found on the “Playlist” for the series. The previous series of sixteen videos on socialism is available by clicking on the link: “Socialism, Modernism, and the New Age,” along with some book reviews and other selected topics. For “interfaith” presentations to a Catholic audience they’ve proved to be popular, edging up to 150,000 views to date. They aren’t really “Just Third Way videos,” but they do incorporate a Just Third Way perspective. You can access the playlist for the entire series. The point of the videos is to explain how socialism and socialist assumptions got such a stranglehold on the understanding of the role of the State and thus the interpretation of Catholic social teaching, and even the way non-Catholics and even non-Christians understand the roles of Church, State, and Family, and the human persons place in society.
Those are the happenings for this week, at least those that we know about. If you have an accomplishment that you think should be listed, send us a note about it at mgreaney [at] cesj [dot] org, and well see that it gets into the next “issue.” Due to imprudent and intemperate language on the part of some commentators, we removed temptation and disabled comments.
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