It had to happen. USA Today reports how cash strapped communities have taken a Depression era idea and started printing their own money. Ylu buy it at a discount and spend it at stores that accept currencies like Detroit Cheers, Ithaca Hours in New York, Plenty in North Carolina or BerkShares in Massachusetts. Business owners are printing out the money which you use to spend at local shops. On one hand, it supposedly helps keep local businesses afloat and the IRS does get its share. Still, you do wonder about the inflationary effect if this becomes a widespread practice, which could well happen with the US economy deteriorating.
Nonetheless, it's another sign about the breakdown in trust. The lessons of the 1930s taught us that when economies go bad, people turn tribal. And as the WalletPop blog points out, more communities are expected to join the party for that very reason. "In a climate in which the bigger the business is, the less we trust it, exchanging with people you can see and whose transactions you understand is looking more and more sensible."
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