✅ There is a bit of a flaw in that financial desert "logic"!
😎 An inquiring mind might ask:"Where did this idea of "financial deserts" come from? Want to take a guess?
From the Federal government, of course, via the Federal Reserve! Not to point out the obvious, but isn't there currently a national uproar about the efficacy and efficiency of our government at the national level - including the Federal Reserve. Have you noticed that, or is it just me?
Lets take a quick look at the "invention" of the idea of financial deserts by the Federal Reserve (see chart above from Fed website - you can zoom in to see better). This is the Fed's example of a financial desert in urban Indianapolis, Indiana. The definition of an "urban financial desert" being "no bank branch within 2 miles". In the third panel (2021), you see "an urban financial desert" has developed because there is no bank branch within 2 miles of the center [orange] of the circle. Got it?
✅ Here perhaps, with these "financial deserts" constructs, is an easy example of why our Country is engaged in such a heated debate over the federal government. Look again at that third (2021) desert panel and note that each of the "red dots" represents an open, existing bank branch. Okay? Ready?
Now instead of drawing a 2 mile circle around the "orange center" , what if you drew a 2 mile circle centered on each of the "red dot existing banks"? Here's a mock up of what you would end up with:
.
😎 Bingo! Everyone (well, almost everyone!) within the original Fed circle is now within 2 miles of a bank! ... the overlapping circles centered on open, existing bank branches make the "desert" begin to disappear!
✅ Accidental oversight or purposeful, "wishful thinking" by our government?
... crisis of confidence in our Legislature over a H.187 slither? You bet! Facts ... and the truth should matter.
Come on man ...
ReplyDelete“Never let the truth get in the way of a good story.”
― Mark Twain
At least the Federal Reserve knows what to do about interest rates.
ReplyDeleteIf you are struggling with understanding this, try the following:
ReplyDelete1) The circle around the "orange desert" you are looking at is drawn by putting "a pin" in the "population center" of the "orange block desert" then drawing a circle with a 2 mile radius around it.
2) The impression you are given is everyone within that black circle they've drawn is living in a "financial desert".
3) Clearly that's not true. If you "put a pin" in one of the many close red dot branches and draw a new two mile circle then you see that almost all of the folks living within the first black desert circle are easily within two miles of an open, existing bank branch.
4) You can also see that many folks living within the "orange block" (toward the outer edges, rather than at the center) are also within the 2 mile limit too.
It's alright to make stuff up, but hope we don't use "that stuff" as the basis for our laws in North Carolina.
They try to act like they care about these people only to initiate RBL and charge em more interest on their CC ...
ReplyDeletewith friends like these ...
Honor and integrity have been buried with truth and justice... c'est la vie!
ReplyDelete7:14 what does that even mean?
Delete