✅ 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:
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😎 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.
