It is becoming more likely by the day that the government may declare a "bank holiday" in the coming weeks. I know it sounds like a party or something fun but a bank holiday means that the banks would shut down (and most likely the stock market) for a period of time until the government came up with some kind of rescue plan. Most likely credit cards and ATM cards would not function during this period.
I suggest that you have enough cash in your home to cover at least one months expenses in case this happens. I also suggest beefing up food supplies such as can goods. I realize this sounds alarmist but the banking system is meltdown (just look at the bank stock prices).
If I'm wrong (and I hope I am) then no harm, no foul.
Please prepare for the worst case scenario.
Monday, February 23, 2009
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