It was done during the great depression and it is done around the world today. The printing of local money and the minting of local coinage have a time-honored place in the history of human commerce and now this local answer to more wide-spread economic troubles may be coming to Milwaukee. According to a recent Chicago Tribune article:
The idea is that the local cash could be used at neighborhood stores and businesses, thus encouraging local spending. The result, supporters hope, would be a bustling local economy, even as the rest of the nation deals with a recession. "You have all these people who have local currency, and they're going to spend it at local stores," said Sura Faraj, a community organizer who is helping spearhead the plan. "They can't spend it at the Wal-Mart or the Home Depot, but they can spend it at their local hardware store or their local grocery store." Ince... [Read Full Article]
Government and Economy
SBA Applauds Treasury Action to Bolster Secondary Market for Small Business Loans
A plan by the Treasury and the Federal Reserve to improve market conditions for asset-backed securities – including those composed of SBA-backed small business loans – should be welcome news to credit-hungry small businesses across the country, said U.S. Small Business Administration Acting Administrator Sandy K. Baruah.
Holiday Sales Season: One of the Weakest in Years Increased retail shopping over Thanksgiving will not be enough to keep this from going on record as one of the weakest sales seasons in recent years.
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