The evening news just ended.  Sometimes it is nearly too painful to watch.  The oil spill story never ends but seems only to get worse.  Most states appear to teeter on the brink of economic collapse while in Washington the debt keeps rising.  Banks that were too big to fail a year ago have bought up banks that did fail, making them even “too bigger to fail.”  And as far as I can tell, efforts by congress and the president to curb risky practices have failed completely.  Proposed legislation does deal with some legitimate issues (e.g. credit card reform). But the real dangers (banks essentially left to their own designs, continuing to gamble with other people’s money, controlling the national government through lobbyists and other forms of influence peddling) seem worse than ever. 

      I have been reading a just released book entitled Thirteen Bankers.  It is a complicated read, but if I understand the thesis of its coauthors it says that all we need is a simple law that limits the financial size of any bank.  Once done, they say, let capitalism work.  Let the banks make whatever decisions they wish, knowing that should they make irresponsible gambles and lose they will be allowed to fail because no bank will be large enough to negatively alter the world economy.  I doubt that such a simple solution will ever be enacted since most of the people in control of these things move back and forth from Wall Street to government positions making such a solution contrary to their self interests.  What appears to exist is an oligarchy of banks/politicians.

      Having said all this, I do not look at the future bleakly.  From my two books and monthly newsletters you know of my Jeffersonian leanings, and we Jeffersonians are alive, well, and growing in numbers.  My favorite description of Jeffersonian democracy comes from an 18^th century New England intellectual named Jeremy Belknap. Belknap called for well kept communities where homes and fences were neatly maintained.  He envisioned a local economy where most transactions were between friends and neighbors (sorry Wal-Mart), and called for strong churches, properly run local schools, and ever growing libraries.  True, a national government was necessary, especially to handle foreign relations.  But it was to be relatively simple, inexpensive and responsive to the people’s needs.  Jefferson himself was especially suspicious of big financial institutions and a quote attributed to him goes like this:

"I believe that banking institutions are more dangerous to our liberties than standing armies.”  

     So in the spirit of Jeffersonian democracy I urge you to do several things:

           -Stay informed but don’t dwell on the problems until they consume you.

           -Read a book that inspires you.

           -Deal with local community banks, ones that know your name and avoid risky

            practices.

           -Buy locally as much as possible

           -Support farmers markets.

          -Grow a small garden, even if it is only a few pots on your deck.

           -Give to local charities.

           -Go to church.

          -Spend time with your friends.

          -Join with others who advocate a Jeffersonian lifestyle.