More Banks Close, Feds Take Over

July 28, 2008


I have always been very vehemently against bank mergers and federal takeovers of banks. You’ve heard the saying “Follow the money”? We the people have less and less control over our own economy and financial market as the government and the bankers continue to scarf up the banks and make laws favoring their banker pals.

THere’s news on the latest bank closings and federal takeover. Happened in Arizona, where a lot of New Yorkers have moved. I’m not going to freak out and give a clarion call to head for the hills and bury your money in the ground. HOWEVER, this is a very unstable time, and we would be wise to be cautious right now. The feds and bankers would love us to continue our consumeristic spiral of debt and profligate spending; I am exercising caution by being very frugal, and no big purchases here! I’m also doing what I can to grow my own food, get my yard prepared for growing lots of vegetables, etc. I encourage you to so the same.

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