soxfirst
Communities printing money
Filed in archive strategy by leon on April 7, 2009
Communities printing money


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."


Permalink: Communities printing money
Tags: communities  printing  money  business  2008  printing+money  communities+printing  hedge+fund 
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/148400
img Addthis img Ask img Blinklist img del.icio.us img Digg img Fark img Facebook img Google img Lycos img Ma.gnolia Add this page to Mister Wong Mr Wong img Netscape img Netvousz img Newsvine img Reddit img StumbleUpon img Slashdot img Tailrank img Technorati img Wink img Yahoo

Vote for Communities printing money:

  • Currently 6.00/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 6.00 out of 2 vote(s) cast.
 
Subscribe
Share It
RSSrss
See all blog subscribe options
Google google
What is RSS?
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
Newsletter

TwitterFollow us on Twitter!