Anyone who’s followed the financial news over the past two years knows, or at least should know, that we’re in the middle of an ongoing debt crisis caused by too much government spending. For generations Americans have looked to government – federal, state and local -to supply their needs in everything from baby food to education to retirement. This is a form of idolatry, statolatry to be exact. It represents a sinful rejection of God’s providencial care for man within the framework of limited government, the rule of law, private property and free market economics, and seeks to replace these with a false belief in man’s wisdom to work all things together for good. The creed of the statolatrist runs something like this, “the state shall supply all my needs according to its riches in others’ money.”
But unfortunately for those who like to live off the dole, the government gravy train is coming to an end, and all the bailouts in the world won’t stop it. As the saying goes, it’s all over but the screaming. Politicians love to play kick the can, but our debt burdens are getting to the point where this won’t be possible much longer.
According to some financial pros, municipal bonds are likely to reach a crisis point sometime in the next year. And muni bonds are the safe stuff. The widows and orphans stuff. The boring to the point that it puts you to sleep stuff. And if this stuff goes south, which it very well could, interesting times aren’t far off.
Read more here.
Lux Lucet 
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