Wednesday, October 01, 2008

WARNING - BANK SHUTDOWN MAY BE COMING

Okay, this comes from one of "our" people, and we do have a tendency to overreact and fly off the handle. I'd be happier if it came from a so-called legitimate source, but then almost by definition a legitimate source is going to be in the pockets of the people who are destroying us and wouldn't give us any warning, so that's not really practical. And I have to say, this does make a certain amount of horrible sense.

"Reliable word that Bank of America branch managers just received a letter or memo from the Federal Reserve instructing them to perhaps be ready for a one-week universal shut-down of the banking system, including access to checking accounts, savings accounts and credit cards. Reliable word has it that B of A bank branches received a shipment of signs last week, reading 'We're sorry, but due to circumstances beyond our control, we cannot open for business at this time.'

"This raises the likelihood of a 'bank holiday' coming soon. It would be wise to have some cash around because checks, credit cards, CDs don't work when the banks are closed. If you have CDs it might be worthwhile to cash them even though there is a penalty. "

I don't know if I'd go quite that far, but folks, none of us seem to have quite wrapped our minds yet around just how bad this financial collapse is going to be and what life is going to be like a year from now. It's really weird--the whole system is crashing and burning, and we're still glued to Nancy Grace and Dancing With The Stars. Way, way bizarre, man.

2 Comments:

Anonymous M. K. said...

It is surreal. When the DOW plunged 700 points, the hosts on the morning talk shows the next day were still chattering with fake-smiles slapped across their faces. What magnitude of disaster would it take for the people in the media to react like something actually happened? It was like that after 9/11, but that's the only time in my lifetime that I can remember America acting anything resembling "sober."

12:14 PM  
Anonymous Clayton said...

I think the American public is so used to social and economic stability - in particular, my generation (20-somethings) have grown up knowing nothing else - that we really can't wrap our minds around the idea of a massive economic implosion, of widespread unemployment, of food riots and various other forms of pandemonium.

We've all seen videos and photographs of the Great Depression, but we see them as we see a Hollywood movie. We don't recognize the reality of the situation because it's completely alien to us. It's a bit like trying to imagine living in a Feudal kingdom in Old Germany, or existing in the time of Julius Caesar: we can't really do it - no, not really, no matter how creative our imaginations may be - because our day-to-day experiences are completely different.

Perhaps this is why so many people, particularly in my generation, busily go about making money and pissing away their evenings with their X-Boxes and their weekends with cases of beer. Life is basically easy for most folks, even the poorer of us, and so we don't bother to ponder the possibilities, nor do we realize how privileged we have been to live in such a highly developed and stable country. Maybe this is why we're unconsciously sending our own civilization down the drain, or why we pay no attention to the way we spend our free time, or why we choose mates stupidly and without consideration of consequences - because we don't even realize that things could be any different than they are now.

I think you made a very good point about our people not having any sense of direction because we don't know our own history. Care to post any links or suggest any books that might be enlightening? I know most people won't bother reading them, but I would.

-Clay

12:15 PM  

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