Printing Your Own Money?

That’s what they’re doing in Milwaukee. Printing their own money. The thought is that to encourage customers buy locally, give them a currency only accepted locally. However, if put into effect it would be interesting to see where it leads.

What will it be backed by? If with dollars then the currency is doomed to the same failure. But wouldn’t it be interesting if, in the future, after inflation of the real dollar devalues even their Milwaukee money, organizers of the movement de-peg and back it with something tangible?

 Certainly an interesting concept and I would be interested if any other communities are trying competing currencies.

Obama’s New Deal

Just a brief comment on public works projects, government spending, or the trendy new term, “government investment,” or whatever they want to call it:

Where does the money to create the jobs come from? Taxes. Where do those taxes come from? Citizens and businesses. If the taxes were simply cut for those same people, the citizens would have more to spend, boosting the economy, allowing businesses to hire. If the businesses had more to spend, they would hire. Not only would they hire but they would be sustainable jobs, needed jobs. Not temporary government spending binges.

As a final note, whenever the goal of a project is to create jobs, efficiency is cast aside. The money that is taken from everyday tax-payers will be spent. It will be spent without regard for it’s use, and it will be spend to create jobs for those with political connections.