So far, 33 banks have closed in the United States this year in 2009. In Colorado, the New Frontier Bank closed on Friday, May 8th. This happened in the agricultural community of Greeley, and has left many farmers without access to the needed loans to plant and continue to care for their investment already sown in the ground.
Interestingly, while the American public is paying for corporate bailouts, the same American public often has no idea which banks are going to be closed and how it will affect them. Link to New Frontier Bank‘s website In times when securing any type of loan for the average person is increasingly difficult, the closing of the bank has left unsuspecting farmers only 30 days to find another loan. What are the possible consequences of this?
The farmer may not be able to secure a loan and may loose the farm. If that happens, less food will be grown and less and agricultural goods will make it to the market. This could then drive up the price of goods available on the market if there is less supply. This will affect consumers because they will then have a more difficult time buying the more expensive goods for their household. To further complicate things, if there is more property available on the market, it could further depress the real estate market. Who has the capital to buy right now and where will the family go?
As our wealth collected in our taxes goes toward bailing out large financial corporate institutions, our People are left by the wayside. Usually, in nations that have a form of representative democracy, policy is created to safeguard society and people’s rights. In the United States, it seems that the largest corporate institutions have the strongest and are able to exert their rights, often over the will of the People.
We need to examine the underlying philosophies that have helped to create this situation. This can be difficult though, as we currently have fewer media voices that are examining the situation. Media corporations have gotten larger, have simultaneously increased their control and reach of information on mainstream media forms, and have simultaneously been shutting down the investigative sections of newspapers and broadcast TV because they are not as commercially profitable. Instead, artificial blame, fear, mistrust and other non-news are being broadcast. In response, only people of similar political views seem to talk to each other. But, there is something that we can do, in a way that will allow the regular person to get his or her point of view across.