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	<title>Comments on: LET IT DIE: Rushkoff on the economy</title>
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	<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/</link>
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	<lastBuildDate>Fri, 03 Feb 2012 00:21:30 +0000</lastBuildDate>
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		<title>By: Douglas Rushkoff On The Economy: Let it die &#124; Green Energy Panels - How to Save Energy</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-3/#comment-182045</link>
		<dc:creator>Douglas Rushkoff On The Economy: Let it die &#124; Green Energy Panels - How to Save Energy</dc:creator>
		<pubDate>Thu, 25 Aug 2011 05:44:02 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-182045</guid>
		<description>[...] of the current economic system (and actively promoting locabucks while he is at it) &#8211; The Economy: Let it die. With any luck, the economy will never [...]</description>
		<content:encoded><![CDATA[<p>[...] of the current economic system (and actively promoting locabucks while he is at it) &#8211; The Economy: Let it die. With any luck, the economy will never [...]</p>
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		<title>By: Douglas Rushkoff On The Economy: Let it die &#124; Green Energy Global - Daily Green Energy News</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-3/#comment-181991</link>
		<dc:creator>Douglas Rushkoff On The Economy: Let it die &#124; Green Energy Global - Daily Green Energy News</dc:creator>
		<pubDate>Thu, 21 Jul 2011 21:44:47 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-181991</guid>
		<description>[...] of the current economic system (and actively promoting locabucks while he is at it) &#8211; The Economy: Let it die. With any luck, the economy will never [...]</description>
		<content:encoded><![CDATA[<p>[...] of the current economic system (and actively promoting locabucks while he is at it) &#8211; The Economy: Let it die. With any luck, the economy will never [...]</p>
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		<title>By: sergio</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-179617</link>
		<dc:creator>sergio</dc:creator>
		<pubDate>Fri, 12 Nov 2010 00:34:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-179617</guid>
		<description>Spot on... cut the middle man... this is the same dogmatic belief that we as a community can work together... we need a priest, government, and the banks... and the persons that asks where he/she is going to get designer shoes....really??? yo do know that shoes are not new right? they used to be handmade and durable so you didn&#039;t have to worry for another pair in years... is this market that makes you believe that you NEED another pair or creates products that are going to break down in a year... design obsolescence and perceived obsolescence... check out the story of stuff...</description>
		<content:encoded><![CDATA[<p>Spot on&#8230; cut the middle man&#8230; this is the same dogmatic belief that we as a community can work together&#8230; we need a priest, government, and the banks&#8230; and the persons that asks where he/she is going to get designer shoes&#8230;.really??? yo do know that shoes are not new right? they used to be handmade and durable so you didn&#8217;t have to worry for another pair in years&#8230; is this market that makes you believe that you NEED another pair or creates products that are going to break down in a year&#8230; design obsolescence and perceived obsolescence&#8230; check out the story of stuff&#8230;</p>
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		<title>By: &#62;&#62;Nostalgia For Infinity - These greedy fools</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-178302</link>
		<dc:creator>&#62;&#62;Nostalgia For Infinity - These greedy fools</dc:creator>
		<pubDate>Tue, 11 May 2010 16:04:57 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-178302</guid>
		<description>[...] the greedy fools who first fucked themselves and then fucked us. Well, no thanks. They should be consigned to history, an anecdote in a high school textbook with little cocks drawn next to them by disinterested [...]</description>
		<content:encoded><![CDATA[<p>[...] the greedy fools who first fucked themselves and then fucked us. Well, no thanks. They should be consigned to history, an anecdote in a high school textbook with little cocks drawn next to them by disinterested [...]</p>
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		<title>By: spindokters</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-176900</link>
		<dc:creator>spindokters</dc:creator>
		<pubDate>Thu, 10 Dec 2009 03:38:48 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-176900</guid>
		<description>Wauw. Bingo!

It&#039;s consience and we can&#039;t blame anybody but fixing what went wrong and forgive. 

Social currency is the solution. 
Consience!!!!, Trust, Reputation, Authentic connections,
Value created through cooperation, life hacking, Entertainment and Creativity.

Are you in?</description>
		<content:encoded><![CDATA[<p>Wauw. Bingo!</p>
<p>It&#8217;s consience and we can&#8217;t blame anybody but fixing what went wrong and forgive. </p>
<p>Social currency is the solution.<br />
Consience!!!!, Trust, Reputation, Authentic connections,<br />
Value created through cooperation, life hacking, Entertainment and Creativity.</p>
<p>Are you in?</p>
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		<title>By: Rushkoff: Capitalism vs The Middle Ages&#8230;? &#124; Cipher Mysteries</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-175860</link>
		<dc:creator>Rushkoff: Capitalism vs The Middle Ages&#8230;? &#124; Cipher Mysteries</dc:creator>
		<pubDate>Mon, 07 Sep 2009 15:03:45 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-175860</guid>
		<description>[...] to his upcoming take on corporatism &#8220;Life Inc&#8221; (due June 2009). But when I read his recent blog entry on the economy, I have to admit that my heart sank [...]</description>
		<content:encoded><![CDATA[<p>[...] to his upcoming take on corporatism &#8220;Life Inc&#8221; (due June 2009). But when I read his recent blog entry on the economy, I have to admit that my heart sank [...]</p>
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		<title>By: LET IT DIE: Rushkoff on the economy &#124; ARTHUR MAGAZINE &#8211; WE FOUND THE OTHERS &#8211; The 5th Estate: Citizen News</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-175440</link>
		<dc:creator>LET IT DIE: Rushkoff on the economy &#124; ARTHUR MAGAZINE &#8211; WE FOUND THE OTHERS &#8211; The 5th Estate: Citizen News</dc:creator>
		<pubDate>Fri, 14 Aug 2009 23:28:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-175440</guid>
		<description>[...] LET IT DIE: Rushkoff on the economy &#124; ARTHUR MAGAZINE &#8211; WE FOUND THE OTHERS.   August 14, 2009 &#8211; 5:26 pm &#124; By  &#124; Posted in Uncategorized &#124; Comments (0)    &#8592; Edge: ECONOMICS IS NOT NATURAL SCIENCE By Douglas Rushkoff [...]</description>
		<content:encoded><![CDATA[<p>[...] LET IT DIE: Rushkoff on the economy | ARTHUR MAGAZINE &#8211; WE FOUND THE OTHERS.   August 14, 2009 &#8211; 5:26 pm | By  | Posted in Uncategorized | Comments (0)    &larr; Edge: ECONOMICS IS NOT NATURAL SCIENCE By Douglas Rushkoff [...]</p>
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		<title>By: links for 2009-03-19</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-175267</link>
		<dc:creator>links for 2009-03-19</dc:creator>
		<pubDate>Sat, 08 Aug 2009 21:49:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-175267</guid>
		<description>[...] LET IT DIE: Rushkoff on the economy bloodless revolution? as long as the private corporate armies go quietly&#8230; (tags: history politics economics finance apocalypse money)         links for 2009-03-20 links for 2009-03-06 [...]</description>
		<content:encoded><![CDATA[<p>[...] LET IT DIE: Rushkoff on the economy bloodless revolution? as long as the private corporate armies go quietly&#8230; (tags: history politics economics finance apocalypse money)         links for 2009-03-20 links for 2009-03-06 [...]</p>
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		<title>By: 20090318 - Adam Crowe</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-175104</link>
		<dc:creator>20090318 - Adam Crowe</dc:creator>
		<pubDate>Thu, 23 Jul 2009 12:41:04 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-175104</guid>
		<description>[...] ARTHUR MAGAZINE &#8212; LET IT DIE by Douglas Rushkoff &quot;This is the sound of the other shoe dropping; it’s what happens when the chickens come home to roost; it’s justice, equilibrium reasserting itself, and ultimately a good thing. The thing that is dying—the corporatized model of commerce—has not, nor has it ever been, supportive of the real economy. It wasn’t meant to be. We do not live in an economy, we live in a Ponzi scheme. Using future tax dollars to give banks more money to lend out at interest is robbing from the poor to pay the rich to rob from the poor. The current financial crisis is the best opportunity we have had in a very long time for a bloodless revolution against the faceless fascism under which we have been living, unaware, for much too long. Let us seize the day.&quot; &#8212; Brilliant explanatory rant. Recommended.  DouglasRushkoff corruption government feudalism fascism monopoly corporatism aristocracy monarchy history malinvestment speculation leverage bubble credit usury interest ponzi fiat dollar currency banking fraud debt economics [...]</description>
		<content:encoded><![CDATA[<p>[...] ARTHUR MAGAZINE &#8212; LET IT DIE by Douglas Rushkoff &quot;This is the sound of the other shoe dropping; it’s what happens when the chickens come home to roost; it’s justice, equilibrium reasserting itself, and ultimately a good thing. The thing that is dying—the corporatized model of commerce—has not, nor has it ever been, supportive of the real economy. It wasn’t meant to be. We do not live in an economy, we live in a Ponzi scheme. Using future tax dollars to give banks more money to lend out at interest is robbing from the poor to pay the rich to rob from the poor. The current financial crisis is the best opportunity we have had in a very long time for a bloodless revolution against the faceless fascism under which we have been living, unaware, for much too long. Let us seize the day.&quot; &#8212; Brilliant explanatory rant. Recommended.  DouglasRushkoff corruption government feudalism fascism monopoly corporatism aristocracy monarchy history malinvestment speculation leverage bubble credit usury interest ponzi fiat dollar currency banking fraud debt economics [...]</p>
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		<title>By: Corporations, Scriptural Sacrilege and Saucepan Revolutions &#187; Young Anabaptist Radicals</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174599</link>
		<dc:creator>Corporations, Scriptural Sacrilege and Saucepan Revolutions &#187; Young Anabaptist Radicals</dc:creator>
		<pubDate>Wed, 27 May 2009 23:23:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174599</guid>
		<description>[...] last month after he published two of the best articles on the financial crisis I&#8217;ve read (here and here). Now he has a new book out on corporatism that lucidly illuminates the ruthless role of [...]</description>
		<content:encoded><![CDATA[<p>[...] last month after he published two of the best articles on the financial crisis I&#8217;ve read (here and here). Now he has a new book out on corporatism that lucidly illuminates the ruthless role of [...]</p>
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		<title>By: Aquadoodiloop.com &#187; Blog Archive &#187; LET IT DIE: Rushkoff on the economy &#124; ARTHUR MAGAZINE - WE FOUND THE OTHERS</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174566</link>
		<dc:creator>Aquadoodiloop.com &#187; Blog Archive &#187; LET IT DIE: Rushkoff on the economy &#124; ARTHUR MAGAZINE - WE FOUND THE OTHERS</dc:creator>
		<pubDate>Thu, 21 May 2009 19:58:03 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174566</guid>
		<description>[...] LET IT DIE. [...]</description>
		<content:encoded><![CDATA[<p>[...] LET IT DIE. [...]</p>
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		<title>By: Let it Die &#124; Notebook &#124; Mike Mattner</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174533</link>
		<dc:creator>Let it Die &#124; Notebook &#124; Mike Mattner</dc:creator>
		<pubDate>Sat, 16 May 2009 13:14:47 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174533</guid>
		<description>[...] read a rather interesting piece this morning, LET IT DIE: Rushkoff on the economy, describing the nature of the makeup of our economy as &#8220;a system set in place for the benefit [...]</description>
		<content:encoded><![CDATA[<p>[...] read a rather interesting piece this morning, LET IT DIE: Rushkoff on the economy, describing the nature of the makeup of our economy as &#8220;a system set in place for the benefit [...]</p>
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		<title>By: Experiencing advertising exhaustion? Take 2 &#38; call a friend in the morning</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174476</link>
		<dc:creator>Experiencing advertising exhaustion? Take 2 &#38; call a friend in the morning</dc:creator>
		<pubDate>Sat, 09 May 2009 16:33:06 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174476</guid>
		<description>[...] I can understand this&#8211;especially as advertising agencies are more visible to the public through shows like Mad Men.  As this post points out, one could assume that much of the anger is directed at the financial services industry and the banks that created loan products which made it look as if we could actually afford over-priced homes (click here for a Great rant on the topic). [...]</description>
		<content:encoded><![CDATA[<p>[...] I can understand this&#8211;especially as advertising agencies are more visible to the public through shows like Mad Men.  As this post points out, one could assume that much of the anger is directed at the financial services industry and the banks that created loan products which made it look as if we could actually afford over-priced homes (click here for a Great rant on the topic). [...]</p>
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		<title>By: Rethinking the system: Part 1 of many &#171; Shannon Turlington</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174227</link>
		<dc:creator>Rethinking the system: Part 1 of many &#171; Shannon Turlington</dc:creator>
		<pubDate>Sun, 12 Apr 2009 14:34:19 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174227</guid>
		<description>[...] Douglas Rushkoff is one of a growing chorus of voices saying that we should let the old economy die. Two economists at Washington University are calling for a reworking of copyright and patent laws [...]</description>
		<content:encoded><![CDATA[<p>[...] Douglas Rushkoff is one of a growing chorus of voices saying that we should let the old economy die. Two economists at Washington University are calling for a reworking of copyright and patent laws [...]</p>
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		<title>By: LET IT DIE: Rushkoff on the Economy &#171; The Teleomorph</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174117</link>
		<dc:creator>LET IT DIE: Rushkoff on the Economy &#171; The Teleomorph</dc:creator>
		<pubDate>Thu, 02 Apr 2009 04:12:12 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174117</guid>
		<description>[...] the current economic situation in the past couple weeks that are definitely worth passing along.  Let It Die was written for Arthur online magazine with a follow-up piece, Hack Money, Hack Banking, a week [...]</description>
		<content:encoded><![CDATA[<p>[...] the current economic situation in the past couple weeks that are definitely worth passing along.  Let It Die was written for Arthur online magazine with a follow-up piece, Hack Money, Hack Banking, a week [...]</p>
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		<title>By: RaymondC</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174102</link>
		<dc:creator>RaymondC</dc:creator>
		<pubDate>Tue, 31 Mar 2009 15:02:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174102</guid>
		<description>However, do we really want to go down the same road that led to two World Wars?

Remember, we&#039;re not living during the days of first two World Wars, where at least the USA was not seriously threatened with the type of destruction that ravaged many of the combatants. Today, a real World War could end up involving nuclear weapons placed on missiles that could hit targets 4,000 to 7,000 miles away--the combination of the Russians and Chinese have enough missiles aimed at the USA that they could literally wipe out the every major city and industrial site and still have enough to destroy most of our military bases. Humanity would be literally thrown back to not much better than the Stone Age, and the human population worldwide could drop to under 500 million as billions die from the effects of fallout radiation, &quot;nuclear winter,&quot; and the inability to grow food on a large scale. Do we really have to go down this apocalyptic route?</description>
		<content:encoded><![CDATA[<p>However, do we really want to go down the same road that led to two World Wars?</p>
<p>Remember, we&#8217;re not living during the days of first two World Wars, where at least the USA was not seriously threatened with the type of destruction that ravaged many of the combatants. Today, a real World War could end up involving nuclear weapons placed on missiles that could hit targets 4,000 to 7,000 miles away&#8211;the combination of the Russians and Chinese have enough missiles aimed at the USA that they could literally wipe out the every major city and industrial site and still have enough to destroy most of our military bases. Humanity would be literally thrown back to not much better than the Stone Age, and the human population worldwide could drop to under 500 million as billions die from the effects of fallout radiation, &#8220;nuclear winter,&#8221; and the inability to grow food on a large scale. Do we really have to go down this apocalyptic route?</p>
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		<title>By: CrowdSourcing the Bank Recovery by Douglas Rushkoff &#124; ARTHUR MAGAZINE - WE FOUND THE OTHERS</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174096</link>
		<dc:creator>CrowdSourcing the Bank Recovery by Douglas Rushkoff &#124; ARTHUR MAGAZINE - WE FOUND THE OTHERS</dc:creator>
		<pubDate>Mon, 30 Mar 2009 16:22:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174096</guid>
		<description>[...] Money, Hack Banking&#8221; (arthurmag.com, March 20, 2009) &#8220;Let It Die&#8221; (arthurmag.com, March 16, 2009) &#8220;No Money Down&#8221; (Arthur No. 31/Oct 2008) “Riding Out [...]</description>
		<content:encoded><![CDATA[<p>[...] Money, Hack Banking&#8221; (arthurmag.com, March 20, 2009) &#8220;Let It Die&#8221; (arthurmag.com, March 16, 2009) &#8220;No Money Down&#8221; (Arthur No. 31/Oct 2008) “Riding Out [...]</p>
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		<title>By: Money &#38; Markets - Week of 3.29.09 at The Catherine Austin Fitts Blog</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174078</link>
		<dc:creator>Money &#38; Markets - Week of 3.29.09 at The Catherine Austin Fitts Blog</dc:creator>
		<pubDate>Sun, 29 Mar 2009 18:33:35 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174078</guid>
		<description>[...] Let it Die: Rushkoff on The Economy Arthur (17 March 09) [...]</description>
		<content:encoded><![CDATA[<p>[...] Let it Die: Rushkoff on The Economy Arthur (17 March 09) [...]</p>
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		<title>By: Occidental Bodega &#187; Saturday Morning Link Dump - 03/28/09</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174073</link>
		<dc:creator>Occidental Bodega &#187; Saturday Morning Link Dump - 03/28/09</dc:creator>
		<pubDate>Sat, 28 Mar 2009 16:34:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174073</guid>
		<description>[...] LET IT DIE: Rushkoff on the economy &#124; ARTHUR MAGAZINE - WE FOUND THE OTHERS [...]</description>
		<content:encoded><![CDATA[<p>[...] LET IT DIE: Rushkoff on the economy | ARTHUR MAGAZINE &#8211; WE FOUND THE OTHERS [...]</p>
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		<title>By: KingofthePaupers</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174068</link>
		<dc:creator>KingofthePaupers</dc:creator>
		<pubDate>Fri, 27 Mar 2009 18:33:08 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174068</guid>
		<description>&quot;Local currencies, which helped regions reinvest in their own activities, and centralized currencies, for long distance transactions. Local currencies were earned into existence. A farmer would grow a bunch of grain, bring it to the grain store, and get receipts for how much grain he had deposited. The receipts could be used as money—even by people who didn’t need grain at that particular moment. Everyone knew what it was worth.&quot;

Jct: Local INTEREST-FREE community currencies worked well. 
Best of all, peg your local currency to the Time Standard of Money (how many dollars/hour child labor) and Hours earned locally can be intertraded with other timebanks globally! 
In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours. 
U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture. 
See my banking systems engineering analysis at http://youtube.com/kingofthepaupers with an index of articles at http://johnturmel.com/kotp.htm</description>
		<content:encoded><![CDATA[<p>&#8220;Local currencies, which helped regions reinvest in their own activities, and centralized currencies, for long distance transactions. Local currencies were earned into existence. A farmer would grow a bunch of grain, bring it to the grain store, and get receipts for how much grain he had deposited. The receipts could be used as money—even by people who didn’t need grain at that particular moment. Everyone knew what it was worth.&#8221;</p>
<p>Jct: Local INTEREST-FREE community currencies worked well.<br />
Best of all, peg your local currency to the Time Standard of Money (how many dollars/hour child labor) and Hours earned locally can be intertraded with other timebanks globally!<br />
In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours.<br />
U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture.<br />
See my banking systems engineering analysis at <a href="http://youtube.com/kingofthepaupers" rel="nofollow">http://youtube.com/kingofthepaupers</a> with an index of articles at <a href="http://johnturmel.com/kotp.htm" rel="nofollow">http://johnturmel.com/kotp.htm</a></p>
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		<title>By: souldish (( high frequency culture )) &#187; Steve's Weekly Dish 126.0</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174061</link>
		<dc:creator>souldish (( high frequency culture )) &#187; Steve's Weekly Dish 126.0</dc:creator>
		<pubDate>Fri, 27 Mar 2009 03:22:12 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174061</guid>
		<description>[...]  LET IT DIE: Rushkoff on the economy With any luck, the economy will never recover. [...]</description>
		<content:encoded><![CDATA[<p>[...]  LET IT DIE: Rushkoff on the economy With any luck, the economy will never recover. [...]</p>
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		<title>By: BlogBites. Like sound bites. But without the sound. &#187; Blog Archive &#187; The current financial crisis is the best opportunity we have had in a very long time for a bloodless revolution against the faceless fascism under which we have been living, </title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174039</link>
		<dc:creator>BlogBites. Like sound bites. But without the sound. &#187; Blog Archive &#187; The current financial crisis is the best opportunity we have had in a very long time for a bloodless revolution against the faceless fascism under which we have been living, </dc:creator>
		<pubDate>Thu, 26 Mar 2009 15:35:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174039</guid>
		<description>[...] against the faceless fascism under which we have been living, unaware, for much too long. LET IT DIE: Rushkoff on the economy &#124; ARTHUR MAGAZINE - WE FOUND THE OTHERS &#160;    &#171; What we&#8217;re now living through, though, is the result of a conscious, [...]</description>
		<content:encoded><![CDATA[<p>[...] against the faceless fascism under which we have been living, unaware, for much too long. LET IT DIE: Rushkoff on the economy | ARTHUR MAGAZINE &#8211; WE FOUND THE OTHERS &nbsp;    &laquo; What we&#8217;re now living through, though, is the result of a conscious, [...]</p>
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		<title>By: Machine Gun a Go Go &#171; The Daily Panopticon</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174032</link>
		<dc:creator>Machine Gun a Go Go &#171; The Daily Panopticon</dc:creator>
		<pubDate>Wed, 25 Mar 2009 23:42:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174032</guid>
		<description>[...] This puts a giant smile on my face - I ran across it while surfing (For something FIRREA related I think.) Douglas Rushkoff advocates letting the economy fail. [...]</description>
		<content:encoded><![CDATA[<p>[...] This puts a giant smile on my face &#8211; I ran across it while surfing (For something FIRREA related I think.) Douglas Rushkoff advocates letting the economy fail. [...]</p>
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		<title>By: LET IT DIE: Rushkoff on the economy &#171; The Invisible Web</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174017</link>
		<dc:creator>LET IT DIE: Rushkoff on the economy &#171; The Invisible Web</dc:creator>
		<pubDate>Wed, 25 Mar 2009 04:25:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174017</guid>
		<description>[...] Read more. [...]</description>
		<content:encoded><![CDATA[<p>[...] Read more. [...]</p>
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		<title>By: gainsmore</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174014</link>
		<dc:creator>gainsmore</dc:creator>
		<pubDate>Wed, 25 Mar 2009 02:29:53 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174014</guid>
		<description>From reading most -if not all the post up to here it&#039;s clear that we are pissed about the world situation and have a need to be heard pertaining to our perceptions... and with good cause. For the &#039;system&#039; does not like independent thinking and has and will continue to try squash any successful speaking or acting out. Society is(and has been)in the process of coming off a 2000 year sugar high of high finance and the &#039;profit at any expense model.&#039; So, while there are those that will continually speak in terms of getting more lipstick and a new dress for the pig- we all know otherwise- that it&#039;s still a pig.... the denial and strategic manipulation continues unabated in almost all circles. I don&#039;t need to go into specifics on the monetary system- banks don&#039;t make loans(Fed pub.Modern money mechanics- Two faces of debt. And they are forbidden via Federal Reserve Charter to loan out depositors funds. The debtors instrument is converted(illegally) for it&#039;s perceived commercial value by the bank into a draft check or book entry and called a &#039;loan&#039;. Ask the bank to prove the origination of the loan- proving the movement of cash(or &#039;money&#039; or something of intrinsic value) from one account to another to fund this &#039;loan&#039; that they are claiming there&#039;re making...they can&#039;t. It never happen. Try signing your loan documentation &#039;all rights reserved&#039; and see if they will even talk to you. They won&#039;t understand your questions- it will be like you are speaking a language from another planet.Could it be said that a honest and forthright attempt to live ones life with respect for all life is a sane precept and all others is insanity?(the captain is drunk and locked himself in the wheel house while he sails out into the storm instead of the safety of the harbor... right?)  It confound the mind that even the most stupid human could have seen this present situation coming and that it would implode over a period of time.
So, whats wealth? Is it only paper money or check book entries? Is it what governments say it is? Or is it people banding together in common interdependency that will bring a new level of sanity to our world? To further my point, before the WWII the US had a small number of planes to be use in the &#039;war effort&#039;(hard to write those words without causing a reaction in myself)- so what the government did was through the banking system they created the &#039;money&#039; into the system to make more planes and war machine spring to life. My question is this..... did the raw materials exists prior to the making of the planes? Did we as a society have to have had &#039;money&#039; to make things back then? Who owns the Earth? The one with the biggest guns? The most evil darkness??
When we realized that out wealth, in all of it&#039;s versions comes NOT from a private central bank,corporation or government but from resources from here on Earth, we will move closer towards a more free and sane planet. We don&#039;t have a currency crises - we have a crisis of perception...The idea of money may be about to become extinct.....</description>
		<content:encoded><![CDATA[<p>From reading most -if not all the post up to here it&#8217;s clear that we are pissed about the world situation and have a need to be heard pertaining to our perceptions&#8230; and with good cause. For the &#8216;system&#8217; does not like independent thinking and has and will continue to try squash any successful speaking or acting out. Society is(and has been)in the process of coming off a 2000 year sugar high of high finance and the &#8216;profit at any expense model.&#8217; So, while there are those that will continually speak in terms of getting more lipstick and a new dress for the pig- we all know otherwise- that it&#8217;s still a pig&#8230;. the denial and strategic manipulation continues unabated in almost all circles. I don&#8217;t need to go into specifics on the monetary system- banks don&#8217;t make loans(Fed pub.Modern money mechanics- Two faces of debt. And they are forbidden via Federal Reserve Charter to loan out depositors funds. The debtors instrument is converted(illegally) for it&#8217;s perceived commercial value by the bank into a draft check or book entry and called a &#8216;loan&#8217;. Ask the bank to prove the origination of the loan- proving the movement of cash(or &#8216;money&#8217; or something of intrinsic value) from one account to another to fund this &#8216;loan&#8217; that they are claiming there&#8217;re making&#8230;they can&#8217;t. It never happen. Try signing your loan documentation &#8216;all rights reserved&#8217; and see if they will even talk to you. They won&#8217;t understand your questions- it will be like you are speaking a language from another planet.Could it be said that a honest and forthright attempt to live ones life with respect for all life is a sane precept and all others is insanity?(the captain is drunk and locked himself in the wheel house while he sails out into the storm instead of the safety of the harbor&#8230; right?)  It confound the mind that even the most stupid human could have seen this present situation coming and that it would implode over a period of time.<br />
So, whats wealth? Is it only paper money or check book entries? Is it what governments say it is? Or is it people banding together in common interdependency that will bring a new level of sanity to our world? To further my point, before the WWII the US had a small number of planes to be use in the &#8216;war effort&#8217;(hard to write those words without causing a reaction in myself)- so what the government did was through the banking system they created the &#8216;money&#8217; into the system to make more planes and war machine spring to life. My question is this&#8230;.. did the raw materials exists prior to the making of the planes? Did we as a society have to have had &#8216;money&#8217; to make things back then? Who owns the Earth? The one with the biggest guns? The most evil darkness??<br />
When we realized that out wealth, in all of it&#8217;s versions comes NOT from a private central bank,corporation or government but from resources from here on Earth, we will move closer towards a more free and sane planet. We don&#8217;t have a currency crises &#8211; we have a crisis of perception&#8230;The idea of money may be about to become extinct&#8230;..</p>
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		<title>By: goldAndAngels</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174011</link>
		<dc:creator>goldAndAngels</dc:creator>
		<pubDate>Tue, 24 Mar 2009 23:17:36 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174011</guid>
		<description>A long view of the corporate life form suggests the current ailments might require a different tonic:
http://www.tripzine.com/listing.php?id=corporate_metabolism</description>
		<content:encoded><![CDATA[<p>A long view of the corporate life form suggests the current ailments might require a different tonic:<br />
<a href="http://www.tripzine.com/listing.php?id=corporate_metabolism" rel="nofollow">http://www.tripzine.com/listing.php?id=corporate_metabolism</a></p>
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		<title>By: Penny K</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174008</link>
		<dc:creator>Penny K</dc:creator>
		<pubDate>Tue, 24 Mar 2009 20:34:20 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174008</guid>
		<description>Re the banks not getting the interest vs the bondholders.
Each party along the way,gets a little piece of the presumed and potential interest as part of their selling price. 

This is a lovely article; it&#039;s hard for us to get our mind around the big (centuries of historical economic paradigms
embedded in every aspect of our culture) pix. I always felt I&#039;d live to see a great crank of the wheel of history. Here it is.</description>
		<content:encoded><![CDATA[<p>Re the banks not getting the interest vs the bondholders.<br />
Each party along the way,gets a little piece of the presumed and potential interest as part of their selling price. </p>
<p>This is a lovely article; it&#8217;s hard for us to get our mind around the big (centuries of historical economic paradigms<br />
embedded in every aspect of our culture) pix. I always felt I&#8217;d live to see a great crank of the wheel of history. Here it is.</p>
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		<title>By: LikeThatClearThinking</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174007</link>
		<dc:creator>LikeThatClearThinking</dc:creator>
		<pubDate>Tue, 24 Mar 2009 18:29:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174007</guid>
		<description>Well written, and a clearly thought out position. It may be unpleasant for some to see the truth so baldly stated, but particularly uncomfortable for the Lawyers, Politicians, and Bankers, I would think...

I know this will be an uncomfortable thought for many, but these times have been predicted with amazing accuracy in the last 20 to 30 years by authors Dannion Brinkley (Saved by the Light), Chet Snow (Mass dreams of the Future), and others. Its going to get more interesting before things get sorted out. I don&#039;t mean to freak anyone out, but the &quot;medicine&quot; will &quot;go down a little easier&quot; if you get right with your God (however you know him)...</description>
		<content:encoded><![CDATA[<p>Well written, and a clearly thought out position. It may be unpleasant for some to see the truth so baldly stated, but particularly uncomfortable for the Lawyers, Politicians, and Bankers, I would think&#8230;</p>
<p>I know this will be an uncomfortable thought for many, but these times have been predicted with amazing accuracy in the last 20 to 30 years by authors Dannion Brinkley (Saved by the Light), Chet Snow (Mass dreams of the Future), and others. Its going to get more interesting before things get sorted out. I don&#8217;t mean to freak anyone out, but the &#8220;medicine&#8221; will &#8220;go down a little easier&#8221; if you get right with your God (however you know him)&#8230;</p>
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		<title>By: Ryan</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174006</link>
		<dc:creator>Ryan</dc:creator>
		<pubDate>Tue, 24 Mar 2009 17:27:37 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174006</guid>
		<description>Yea well mortgage analyst who do you think most of those other investors are CEOs of other larger banks or high stock holders in the Federal Reserve so it goes back to the banks one way or another</description>
		<content:encoded><![CDATA[<p>Yea well mortgage analyst who do you think most of those other investors are CEOs of other larger banks or high stock holders in the Federal Reserve so it goes back to the banks one way or another</p>
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		<title>By: Avg Joe</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174004</link>
		<dc:creator>Avg Joe</dc:creator>
		<pubDate>Tue, 24 Mar 2009 15:28:50 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174004</guid>
		<description>Good thoughts but there&#039;s too many fat, lazy, greedy old men and women who&#039;ll gladly fork over their cash to Wall Street with the hopes of a retired life full of golf and margaritas.

They&#039;ll keep floating this pig.</description>
		<content:encoded><![CDATA[<p>Good thoughts but there&#8217;s too many fat, lazy, greedy old men and women who&#8217;ll gladly fork over their cash to Wall Street with the hopes of a retired life full of golf and margaritas.</p>
<p>They&#8217;ll keep floating this pig.</p>
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		<title>By: Lawrence</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174003</link>
		<dc:creator>Lawrence</dc:creator>
		<pubDate>Tue, 24 Mar 2009 15:16:34 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174003</guid>
		<description>I think Mr Rushkoff meant to say , the bank collects commissions/profits when selling the repackaged loans. the investors actually collect the interest. But here the banks make the money upfront and the investors take the risk</description>
		<content:encoded><![CDATA[<p>I think Mr Rushkoff meant to say , the bank collects commissions/profits when selling the repackaged loans. the investors actually collect the interest. But here the banks make the money upfront and the investors take the risk</p>
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		<title>By: One Penny Sheet &#187; LET IT DIE: Rushkoff on the economy</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174002</link>
		<dc:creator>One Penny Sheet &#187; LET IT DIE: Rushkoff on the economy</dc:creator>
		<pubDate>Tue, 24 Mar 2009 14:06:44 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174002</guid>
		<description>[...] via LET IT DIE: Rushkoff on the economy &#124; ARTHUR MAGAZINE - WE FOUND THE OTHERS. [...]</description>
		<content:encoded><![CDATA[<p>[...] via LET IT DIE: Rushkoff on the economy | ARTHUR MAGAZINE &#8211; WE FOUND THE OTHERS. [...]</p>
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		<title>By: The Wasteland, The Rite of Spring and the Collapse of our Present &#124; Evil Genius Chronicles</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174001</link>
		<dc:creator>The Wasteland, The Rite of Spring and the Collapse of our Present &#124; Evil Genius Chronicles</dc:creator>
		<pubDate>Tue, 24 Mar 2009 13:13:22 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174001</guid>
		<description>[...] That we have arrived at a place with a balance of the past and future, now in these times where as Douglas Rushkoff points out the financial world is falling apart and that may be a good thing, I feel pretty good about it all. [...]</description>
		<content:encoded><![CDATA[<p>[...] That we have arrived at a place with a balance of the past and future, now in these times where as Douglas Rushkoff points out the financial world is falling apart and that may be a good thing, I feel pretty good about it all. [...]</p>
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		<title>By: Jeff Barr&#8217;s Blog &#187; Links for Tuesday, March 24, 2009</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-174000</link>
		<dc:creator>Jeff Barr&#8217;s Blog &#187; Links for Tuesday, March 24, 2009</dc:creator>
		<pubDate>Tue, 24 Mar 2009 13:09:36 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-174000</guid>
		<description>[...] Douglas Rushkoff: Let it Die - &#8220;The fact that the speculative economy for cash and commodities accounts for over 95% of economic transactions, while people actually using money and consuming commodities constitute less than 5% tells us something important. Real supply and demand have almost nothing to do with prices. We do not live in an economy, we live in a Ponzi scheme.&#8220; [...]</description>
		<content:encoded><![CDATA[<p>[...] Douglas Rushkoff: Let it Die &#8211; &#8220;The fact that the speculative economy for cash and commodities accounts for over 95% of economic transactions, while people actually using money and consuming commodities constitute less than 5% tells us something important. Real supply and demand have almost nothing to do with prices. We do not live in an economy, we live in a Ponzi scheme.&#8220; [...]</p>
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		<title>By: Dennis Spain</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173994</link>
		<dc:creator>Dennis Spain</dc:creator>
		<pubDate>Tue, 24 Mar 2009 06:30:42 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173994</guid>
		<description>American Freedom Note Amendment

The fractional-reserve banking system, established by the Federal Reserve Act of 1913 to oversee a debt-based currency, is obsolete and detrimental to the needs of the American people in the 21st Century. The very act of creating money by debt-assumption on the part of the citizenry gives unwarranted power to a financial elite and erodes the very foundations of the American Republic.   The constantly increasing debt with its associated interest acts as a millstone around the neck of industry and stifles economic creativity, while rewarding the well-connected elite generously.

Therefore----by amendment to the US Constitution, establish a new currency, the American Freedom Note.

All debt instruments (loan contracts, bonds, govt debt, etc.) originating in Federal Reserve banks, all existing Federal Reserve Notes and checking account balances, are exchanged for American Freedom Notes. Creditors forgo liens and are cashed out 100%. Debt is exonerated, and debtors assume 100% ownership of any encumbered assets, including---and most importantly---the productive assets of the country (factories, farms, productive enterprises in general).

A fixed quantity of AFNs results from this system-wide exchange and these fresh accounts can be loaned at interest rates determined freely in the marketplace, with the strict proviso that no fractional-reserve lending is allowed from that point forward. 

Over time a natural deflation occurs and the American Freedom Notes, fixed in quantity by this Amendment, acquire increasing purchasing power. 

Debt forgiveness, greed forgiveness. The financial elite are bought out, the rest of us indentured servants are freed, and most importantly, no blood in the streets and the American experiment in liberty, with its enshrinement of the rights of the individual, continues with renewed character!</description>
		<content:encoded><![CDATA[<p>American Freedom Note Amendment</p>
<p>The fractional-reserve banking system, established by the Federal Reserve Act of 1913 to oversee a debt-based currency, is obsolete and detrimental to the needs of the American people in the 21st Century. The very act of creating money by debt-assumption on the part of the citizenry gives unwarranted power to a financial elite and erodes the very foundations of the American Republic.   The constantly increasing debt with its associated interest acts as a millstone around the neck of industry and stifles economic creativity, while rewarding the well-connected elite generously.</p>
<p>Therefore&#8212;-by amendment to the US Constitution, establish a new currency, the American Freedom Note.</p>
<p>All debt instruments (loan contracts, bonds, govt debt, etc.) originating in Federal Reserve banks, all existing Federal Reserve Notes and checking account balances, are exchanged for American Freedom Notes. Creditors forgo liens and are cashed out 100%. Debt is exonerated, and debtors assume 100% ownership of any encumbered assets, including&#8212;and most importantly&#8212;the productive assets of the country (factories, farms, productive enterprises in general).</p>
<p>A fixed quantity of AFNs results from this system-wide exchange and these fresh accounts can be loaned at interest rates determined freely in the marketplace, with the strict proviso that no fractional-reserve lending is allowed from that point forward. </p>
<p>Over time a natural deflation occurs and the American Freedom Notes, fixed in quantity by this Amendment, acquire increasing purchasing power. </p>
<p>Debt forgiveness, greed forgiveness. The financial elite are bought out, the rest of us indentured servants are freed, and most importantly, no blood in the streets and the American experiment in liberty, with its enshrinement of the rights of the individual, continues with renewed character!</p>
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		<title>By: j</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173993</link>
		<dc:creator>j</dc:creator>
		<pubDate>Tue, 24 Mar 2009 06:26:05 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173993</guid>
		<description>about time somebody said what everyone is thinking!</description>
		<content:encoded><![CDATA[<p>about time somebody said what everyone is thinking!</p>
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	<item>
		<title>By: Duric Aljosa</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173992</link>
		<dc:creator>Duric Aljosa</dc:creator>
		<pubDate>Tue, 24 Mar 2009 06:17:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173992</guid>
		<description>&quot;So before we go and flush away the present economic system, how’s about we get a real replacement that works first&quot;? 

Hi Dave, you can take a look here, Crom Time Bank: 
http://cromland.cromalternativemoney.org

Hi Douglas, thanks for the great article. 
I think this will be very interesting to you: 
To Interpol: Criminal Complaint Against Global Elite For Crimes Against Humanity. 
http://forum.cromalternativemoney.org/viewtopic.php?t=393

Regards.</description>
		<content:encoded><![CDATA[<p>&#8220;So before we go and flush away the present economic system, how’s about we get a real replacement that works first&#8221;? </p>
<p>Hi Dave, you can take a look here, Crom Time Bank:<br />
<a href="http://cromland.cromalternativemoney.org" rel="nofollow">http://cromland.cromalternativemoney.org</a></p>
<p>Hi Douglas, thanks for the great article.<br />
I think this will be very interesting to you:<br />
To Interpol: Criminal Complaint Against Global Elite For Crimes Against Humanity.<br />
<a href="http://forum.cromalternativemoney.org/viewtopic.php?t=393" rel="nofollow">http://forum.cromalternativemoney.org/viewtopic.php?t=393</a></p>
<p>Regards.</p>
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		<title>By: R. Walker</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173988</link>
		<dc:creator>R. Walker</dc:creator>
		<pubDate>Tue, 24 Mar 2009 02:38:56 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173988</guid>
		<description>This article is nonsense.

One of the best articles that explains the economic crisis in essential terms is: &quot;The Crisis in 10 Points&quot; by Robert Stewart. 

The economic bust was primarily caused by the Fed -- they forced interest rates below the natural rate of interest, fueling an unsustainable credit expansion boom that resulted in tremendous malinvestment and overconsumption.

Roger W. Garrison explains how the Fed lost its way in this paper: &quot;Interest-Rate Targeting During the Great Moderation: A Reappraisal&quot;.</description>
		<content:encoded><![CDATA[<p>This article is nonsense.</p>
<p>One of the best articles that explains the economic crisis in essential terms is: &#8220;The Crisis in 10 Points&#8221; by Robert Stewart. </p>
<p>The economic bust was primarily caused by the Fed &#8212; they forced interest rates below the natural rate of interest, fueling an unsustainable credit expansion boom that resulted in tremendous malinvestment and overconsumption.</p>
<p>Roger W. Garrison explains how the Fed lost its way in this paper: &#8220;Interest-Rate Targeting During the Great Moderation: A Reappraisal&#8221;.</p>
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		<title>By: Micah</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173987</link>
		<dc:creator>Micah</dc:creator>
		<pubDate>Tue, 24 Mar 2009 01:47:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173987</guid>
		<description>Great points, glad I have found your writing.</description>
		<content:encoded><![CDATA[<p>Great points, glad I have found your writing.</p>
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		<title>By: Mrs. G.</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173986</link>
		<dc:creator>Mrs. G.</dc:creator>
		<pubDate>Tue, 24 Mar 2009 01:26:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173986</guid>
		<description>Great article. So many people see the company store type thing already, in that even farmers are locked onto a tredmill of sorts. The rise in unemployment will first bankrupt the states, I presume. Then it seems to me that the cities will get a little edgy. Families will hopefully get it together and make due wherever they are. My fear is that we will all be fed GMO food. Horrors! And if some crazies in control decide that there are too many people we could indeed have some sad times. We need to really get real here. Please don&#039;t assume that there will never be such things as mandatory vaccinations or pandemics, with or without massive loss of life hitting the elderly most severely. I pray that we get a grip and keep sharing our talents and knowledge. Thanks.</description>
		<content:encoded><![CDATA[<p>Great article. So many people see the company store type thing already, in that even farmers are locked onto a tredmill of sorts. The rise in unemployment will first bankrupt the states, I presume. Then it seems to me that the cities will get a little edgy. Families will hopefully get it together and make due wherever they are. My fear is that we will all be fed GMO food. Horrors! And if some crazies in control decide that there are too many people we could indeed have some sad times. We need to really get real here. Please don&#8217;t assume that there will never be such things as mandatory vaccinations or pandemics, with or without massive loss of life hitting the elderly most severely. I pray that we get a grip and keep sharing our talents and knowledge. Thanks.</p>
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		<title>By: Anna</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173985</link>
		<dc:creator>Anna</dc:creator>
		<pubDate>Tue, 24 Mar 2009 01:23:46 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173985</guid>
		<description>Your thought about letting the economy fail is pretty sound, considering.  However, as the last foot drops, it has the weight of 500 years of debt and mismanagement, misappropriation, outright grand larceny of every imaginable asset, traded, bartered, sold to the highest bidder, not to mention that all this to foriegners without the least vested interest in the PEOPLE of the United States.
It would indeed be a good thing if we were to have the leverage (forced though it may be) to begin with newness, to forge with truth and innovation and hard work a new means to live...honest and forthright. 
IF THIS WERE ALLOWABLE, I would applaud your article...but as the chips fall it is becoming clear, we may neither grow our own gardens, patent our own free electricity, we will not even have free use of our water on what we call our own parcel of land. Our industry is gone..........our population will nearly double from imigration by 2050. 
Aren&#039;t you hoping for the freedom to build a UTOPIA that government and military will no longer put up with. Oh yes, and then there is the green thing, and our poisonous carbon imprint requiring a &#039;soilent green&#039; society.........................or something like that.
I have absolutely no faith in man. And I know how this one ends.
Probably doesn&#039;t burst your bubble at all, the handwriting is on the wall though. You might read it for yourself. WWIII doesn&#039;t sound like much fun. These arent the good ole days. There won&#039;t be much to recover, death and destruction do not make a world better.</description>
		<content:encoded><![CDATA[<p>Your thought about letting the economy fail is pretty sound, considering.  However, as the last foot drops, it has the weight of 500 years of debt and mismanagement, misappropriation, outright grand larceny of every imaginable asset, traded, bartered, sold to the highest bidder, not to mention that all this to foriegners without the least vested interest in the PEOPLE of the United States.<br />
It would indeed be a good thing if we were to have the leverage (forced though it may be) to begin with newness, to forge with truth and innovation and hard work a new means to live&#8230;honest and forthright.<br />
IF THIS WERE ALLOWABLE, I would applaud your article&#8230;but as the chips fall it is becoming clear, we may neither grow our own gardens, patent our own free electricity, we will not even have free use of our water on what we call our own parcel of land. Our industry is gone&#8230;&#8230;&#8230;.our population will nearly double from imigration by 2050.<br />
Aren&#8217;t you hoping for the freedom to build a UTOPIA that government and military will no longer put up with. Oh yes, and then there is the green thing, and our poisonous carbon imprint requiring a &#8216;soilent green&#8217; society&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.or something like that.<br />
I have absolutely no faith in man. And I know how this one ends.<br />
Probably doesn&#8217;t burst your bubble at all, the handwriting is on the wall though. You might read it for yourself. WWIII doesn&#8217;t sound like much fun. These arent the good ole days. There won&#8217;t be much to recover, death and destruction do not make a world better.</p>
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		<title>By: Tapped Out</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173984</link>
		<dc:creator>Tapped Out</dc:creator>
		<pubDate>Tue, 24 Mar 2009 01:09:40 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173984</guid>
		<description>Why don&#039;t we at least nationalize the Federal Reserve, which is about as federal as Federal Express.  They create our money and charge us interest on what they have created out of thin air.  The U.S. can&#039;t afford this outrageous and crazy expense anymore, that goes directly into the hands of the private bankers that own the Federal Reserve Bank.  This was the first REALLY BIG victim of the &quot;PRIVATIZATION&quot; of our government and certainly the most costly.  So basically we have the Zombie Banks bailing themselves out with THIER Federal Reserve Bank using OUR money (or more correctly our further debt to them).</description>
		<content:encoded><![CDATA[<p>Why don&#8217;t we at least nationalize the Federal Reserve, which is about as federal as Federal Express.  They create our money and charge us interest on what they have created out of thin air.  The U.S. can&#8217;t afford this outrageous and crazy expense anymore, that goes directly into the hands of the private bankers that own the Federal Reserve Bank.  This was the first REALLY BIG victim of the &#8220;PRIVATIZATION&#8221; of our government and certainly the most costly.  So basically we have the Zombie Banks bailing themselves out with THIER Federal Reserve Bank using OUR money (or more correctly our further debt to them).</p>
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		<title>By: Ajax</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173982</link>
		<dc:creator>Ajax</dc:creator>
		<pubDate>Tue, 24 Mar 2009 00:12:16 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173982</guid>
		<description>We are in the same place as we were in the Panic of 1907, PreWW1, Russian Revolution.
We are in the same place we were during the Wall 
St 1929, early 30&#039;s depression, Post WW1 Reparations by Germany for WW1 and emergence of Naziism and Communism.

In other words we are in pre WW3 mode. The world is a tinderbox.

I can&#039;t believe giving a few loans to black people and some trailer park white trash to buy Paper Mache stick built houses in the carbon copy burbs caused the world to collapse.

The real reason is the people who figured out how to package, sell , shift paper, IOUs and use it as currency created a house of cards over our heads about to come down.

None of them ever drove a nail, grew a carrot, raised a pig, milked a cow, sewed a stitch, fixed a tractor or unplugged a toilet or swept a floor.
All they do is skim the cream from the people who can do these things.

The only solution is WW3. &quot;Nothing cleanses quite like Fire&quot; Then we can rebuild from scratch.

The spark will happen in the Mid East and then will bring in China and Russia VS the West.

Invest in Guns, Ammo, Velveeta, Beans and Whiskey.</description>
		<content:encoded><![CDATA[<p>We are in the same place as we were in the Panic of 1907, PreWW1, Russian Revolution.<br />
We are in the same place we were during the Wall<br />
St 1929, early 30&#8242;s depression, Post WW1 Reparations by Germany for WW1 and emergence of Naziism and Communism.</p>
<p>In other words we are in pre WW3 mode. The world is a tinderbox.</p>
<p>I can&#8217;t believe giving a few loans to black people and some trailer park white trash to buy Paper Mache stick built houses in the carbon copy burbs caused the world to collapse.</p>
<p>The real reason is the people who figured out how to package, sell , shift paper, IOUs and use it as currency created a house of cards over our heads about to come down.</p>
<p>None of them ever drove a nail, grew a carrot, raised a pig, milked a cow, sewed a stitch, fixed a tractor or unplugged a toilet or swept a floor.<br />
All they do is skim the cream from the people who can do these things.</p>
<p>The only solution is WW3. &#8220;Nothing cleanses quite like Fire&#8221; Then we can rebuild from scratch.</p>
<p>The spark will happen in the Mid East and then will bring in China and Russia VS the West.</p>
<p>Invest in Guns, Ammo, Velveeta, Beans and Whiskey.</p>
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		<title>By: cyberdoyle</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173980</link>
		<dc:creator>cyberdoyle</dc:creator>
		<pubDate>Mon, 23 Mar 2009 23:17:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173980</guid>
		<description>Well written piece, rang a lot of bells. We couldn&#039;t go on as we were with fatcats leeching from the workers the way they were, but I don&#039;t know what the answer is. Perhaps google does. The people need to take control and everyone show sense, work hard, and get ourselves out of this mess. Power to the people.</description>
		<content:encoded><![CDATA[<p>Well written piece, rang a lot of bells. We couldn&#8217;t go on as we were with fatcats leeching from the workers the way they were, but I don&#8217;t know what the answer is. Perhaps google does. The people need to take control and everyone show sense, work hard, and get ourselves out of this mess. Power to the people.</p>
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		<title>By: 23skidoo</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173978</link>
		<dc:creator>23skidoo</dc:creator>
		<pubDate>Mon, 23 Mar 2009 21:15:56 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173978</guid>
		<description>First of all, great article.  

Second, spot on reply, John Coulthart.  El Bergoober might feel like visiting &quot;failed&quot; Europe before he comments upon it.  You will miss ignoring the people sleeping in the street that you step over to get wherever you&#039;re going, the almost nonexistent (by American standards) of violent crime and the lack of state intrusion on personal morality -- as I did when I first moved here -- but humans are infinitely adaptable, aren&#039;t they?

Oh, and maybe the reason the workers enjoy more benefits here is because they don&#039;t expect the system to just hand it to them, but they actually proactively agitate for them (yes, that means going on strike sometimes).

Oh, and another thing you&#039;re notice.  We have immigrants wanting to come here, too.  Many of them from the U.S.</description>
		<content:encoded><![CDATA[<p>First of all, great article.  </p>
<p>Second, spot on reply, John Coulthart.  El Bergoober might feel like visiting &#8220;failed&#8221; Europe before he comments upon it.  You will miss ignoring the people sleeping in the street that you step over to get wherever you&#8217;re going, the almost nonexistent (by American standards) of violent crime and the lack of state intrusion on personal morality &#8212; as I did when I first moved here &#8212; but humans are infinitely adaptable, aren&#8217;t they?</p>
<p>Oh, and maybe the reason the workers enjoy more benefits here is because they don&#8217;t expect the system to just hand it to them, but they actually proactively agitate for them (yes, that means going on strike sometimes).</p>
<p>Oh, and another thing you&#8217;re notice.  We have immigrants wanting to come here, too.  Many of them from the U.S.</p>
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		<title>By: Yet another Perkypants outburst of optimism amidst the nihilism &#124;</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173968</link>
		<dc:creator>Yet another Perkypants outburst of optimism amidst the nihilism &#124;</dc:creator>
		<pubDate>Mon, 23 Mar 2009 07:15:32 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173968</guid>
		<description>[...] though, Douglas Rushoff is embracing financial destruction and says let the economy [...]</description>
		<content:encoded><![CDATA[<p>[...] though, Douglas Rushoff is embracing financial destruction and says let the economy [...]</p>
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		<title>By: In Pursuit of Mysteries &#187; Blog Archive &#187; Followup Rushkoff on the Economy</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173957</link>
		<dc:creator>In Pursuit of Mysteries &#187; Blog Archive &#187; Followup Rushkoff on the Economy</dc:creator>
		<pubDate>Sun, 22 Mar 2009 18:10:11 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173957</guid>
		<description>[...] Douglas Rushkoff has gotten a lot of flack for his article in Arthur Magazine that I wrote about the other day. You know, the one where he called our current [...]</description>
		<content:encoded><![CDATA[<p>[...] Douglas Rushkoff has gotten a lot of flack for his article in Arthur Magazine that I wrote about the other day. You know, the one where he called our current [...]</p>
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		<title>By: LET IT DIE</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173955</link>
		<dc:creator>LET IT DIE</dc:creator>
		<pubDate>Sun, 22 Mar 2009 16:43:22 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173955</guid>
		<description>[...] Alas, I’m not being sarcastic. If you had spent the last decade, as I have, reviewing the way a centralized economic plan ravaged the real world over the past 500 years, you would appreciate the current financial meltdown for what it is: a comeuppance. This is the sound of the other shoe dropping; it’s what happens when the chickens come home to roost; it’s justice, equilibrium reasserting itself, and ultimately a good thing.   The Full Piece&#8230;ArthurMag.com [...]</description>
		<content:encoded><![CDATA[<p>[...] Alas, I’m not being sarcastic. If you had spent the last decade, as I have, reviewing the way a centralized economic plan ravaged the real world over the past 500 years, you would appreciate the current financial meltdown for what it is: a comeuppance. This is the sound of the other shoe dropping; it’s what happens when the chickens come home to roost; it’s justice, equilibrium reasserting itself, and ultimately a good thing.   The Full Piece&#8230;ArthurMag.com [...]</p>
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		<title>By: John Coulthart</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173954</link>
		<dc:creator>John Coulthart</dc:creator>
		<pubDate>Sun, 22 Mar 2009 15:13:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173954</guid>
		<description>Clinton&#039;s policy? Do you mean the Community Reinvestment Act? 

Wall Street Journal, December 3, 2008:

&quot;Federal Reserve governor Randall Kroszner, a conservative economist on leave from a teaching post at the University of Chicago Booth Graduate School of Business, says the Community Reinvestment Act isn’t to blame for the subprime mess, despite some accusations to the contrary.

“First, only a small portion of subprime mortgage originations are related to the CRA. Second, CRA-related loans appear to perform comparably to other types of subprime loans. Taken together… we believe that the available evidence runs counter to the contention that the CRA contributed in any substantive way to the current mortgage crisis,” he said in a speech today in Washington.&quot;

Read the whole thing here: http://blogs.wsj.com/economics/2008/12/03/feds-kroszner-defends-community-reinvestment-act/

US News, December 17, 2008:

&quot;Along with Fannie Mae and Freddie Mac, the Community Reinvestment Act has been fingered by a number of critics--mainly from the right--as a key cause of the financial crisis. But in a speech Wednesday, FDIC Chairman Sheila Bair--a Republican--called such logic a “myth.”

From Bair’s prepared remarks:

&quot;You&#039;ve heard the line of attack: The government told banks they had to make loans to people who were bad credit risks, and who could not afford to repay, just to prove that they were making loans to low- and moderate-income people.

&quot;Let me ask you: where in the CRA does it say: make loans to people who can&#039;t afford to repay? No-where! And the fact is, the lending practices that are causing problems today were driven by a desire for market share and revenue growth ... pure and simple.&quot;

http://www.usnews.com/blogs/the-home-front/2008/12/17/sheila-bair-stop-blaming-the-community-reinvestment-act.html</description>
		<content:encoded><![CDATA[<p>Clinton&#8217;s policy? Do you mean the Community Reinvestment Act? </p>
<p>Wall Street Journal, December 3, 2008:</p>
<p>&#8220;Federal Reserve governor Randall Kroszner, a conservative economist on leave from a teaching post at the University of Chicago Booth Graduate School of Business, says the Community Reinvestment Act isn’t to blame for the subprime mess, despite some accusations to the contrary.</p>
<p>“First, only a small portion of subprime mortgage originations are related to the CRA. Second, CRA-related loans appear to perform comparably to other types of subprime loans. Taken together… we believe that the available evidence runs counter to the contention that the CRA contributed in any substantive way to the current mortgage crisis,” he said in a speech today in Washington.&#8221;</p>
<p>Read the whole thing here: <a href="http://blogs.wsj.com/economics/2008/12/03/feds-kroszner-defends-community-reinvestment-act/" rel="nofollow">http://blogs.wsj.com/economics/2008/12/03/feds-kroszner-defends-community-reinvestment-act/</a></p>
<p>US News, December 17, 2008:</p>
<p>&#8220;Along with Fannie Mae and Freddie Mac, the Community Reinvestment Act has been fingered by a number of critics&#8211;mainly from the right&#8211;as a key cause of the financial crisis. But in a speech Wednesday, FDIC Chairman Sheila Bair&#8211;a Republican&#8211;called such logic a “myth.”</p>
<p>From Bair’s prepared remarks:</p>
<p>&#8220;You&#8217;ve heard the line of attack: The government told banks they had to make loans to people who were bad credit risks, and who could not afford to repay, just to prove that they were making loans to low- and moderate-income people.</p>
<p>&#8220;Let me ask you: where in the CRA does it say: make loans to people who can&#8217;t afford to repay? No-where! And the fact is, the lending practices that are causing problems today were driven by a desire for market share and revenue growth &#8230; pure and simple.&#8221;</p>
<p><a href="http://www.usnews.com/blogs/the-home-front/2008/12/17/sheila-bair-stop-blaming-the-community-reinvestment-act.html" rel="nofollow">http://www.usnews.com/blogs/the-home-front/2008/12/17/sheila-bair-stop-blaming-the-community-reinvestment-act.html</a></p>
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		<title>By: dave</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173946</link>
		<dc:creator>dave</dc:creator>
		<pubDate>Sun, 22 Mar 2009 02:10:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173946</guid>
		<description>All true. But before we bag corporations altogether, they made the computer Mr. R and I use, extract and deliver the natural gas that heats my house, probably got ahold of the wood for the house, got my running shoes designed, made, shipped and sold, and came out with that antibiotic the doc prescribed and the anti psychotic that keeps my brother out of jail or an institution ... you get the idea. Hey, my neighbors are all great folks, but can he do all that? I&#039;d love to sign up, again, with a local CSA, but here in upstate New York I&#039;d be a little tired of stored turnips by this time of year. And I like turnips. So before we go and flush away the present economic system, how&#039;s about we get a real replacement that works first? Or prepare to go back to the late Middle Ages, if that&#039;s what we want. I&#039;m on the fence.</description>
		<content:encoded><![CDATA[<p>All true. But before we bag corporations altogether, they made the computer Mr. R and I use, extract and deliver the natural gas that heats my house, probably got ahold of the wood for the house, got my running shoes designed, made, shipped and sold, and came out with that antibiotic the doc prescribed and the anti psychotic that keeps my brother out of jail or an institution &#8230; you get the idea. Hey, my neighbors are all great folks, but can he do all that? I&#8217;d love to sign up, again, with a local CSA, but here in upstate New York I&#8217;d be a little tired of stored turnips by this time of year. And I like turnips. So before we go and flush away the present economic system, how&#8217;s about we get a real replacement that works first? Or prepare to go back to the late Middle Ages, if that&#8217;s what we want. I&#8217;m on the fence.</p>
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		<title>By: mike</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173944</link>
		<dc:creator>mike</dc:creator>
		<pubDate>Sun, 22 Mar 2009 01:43:26 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173944</guid>
		<description>STRAIGHT TO HELL WITH ALL OF THE BANKS..</description>
		<content:encoded><![CDATA[<p>STRAIGHT TO HELL WITH ALL OF THE BANKS..</p>
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		<title>By: mortgage analyst</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-2/#comment-173943</link>
		<dc:creator>mortgage analyst</dc:creator>
		<pubDate>Sun, 22 Mar 2009 00:52:48 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173943</guid>
		<description>Your description of banks collecting the interest on mortgage loans that are sold is simply incorrect.  When the loans are sold, the interest payments do not go to the bank.  The interest payments go to the investors that buy the bonds backed by the loans.</description>
		<content:encoded><![CDATA[<p>Your description of banks collecting the interest on mortgage loans that are sold is simply incorrect.  When the loans are sold, the interest payments do not go to the bank.  The interest payments go to the investors that buy the bonds backed by the loans.</p>
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		<title>By: Don Cline</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173941</link>
		<dc:creator>Don Cline</dc:creator>
		<pubDate>Sat, 21 Mar 2009 21:26:30 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173941</guid>
		<description>Does someone here actually believe that &quot;corporatism&quot; has anything at all to do with capitalism other than its subversion?  Capitalism has to do with investing in the economy in the expectation of return; i.e., &quot;capitalizing&quot; businesses in te expectation that the business will proser and return a profit.  CORPORATISM, on the other hand, is nothing but a latter-day form of feudalism, where the individual making binding decisions on his employees and his customers and to a great extent on his community cannot be held personally liable for the consequences of those decisions -- so long, you might note, as his decisions are deemed &quot;in the public interest&quot; by the government boffins he supports with his taxes and perhaps more under the table.  YES, corporatism should be abolished, because you cannot have liberty and responsibility unless those in power can be held accountable for the devastation their profit-motive and social-engineering decisions cause.  But leave capitalism the hell alone, and restore government to its absolutely only, singular, exclusive function, which is to protect the rights of the people!</description>
		<content:encoded><![CDATA[<p>Does someone here actually believe that &#8220;corporatism&#8221; has anything at all to do with capitalism other than its subversion?  Capitalism has to do with investing in the economy in the expectation of return; i.e., &#8220;capitalizing&#8221; businesses in te expectation that the business will proser and return a profit.  CORPORATISM, on the other hand, is nothing but a latter-day form of feudalism, where the individual making binding decisions on his employees and his customers and to a great extent on his community cannot be held personally liable for the consequences of those decisions &#8212; so long, you might note, as his decisions are deemed &#8220;in the public interest&#8221; by the government boffins he supports with his taxes and perhaps more under the table.  YES, corporatism should be abolished, because you cannot have liberty and responsibility unless those in power can be held accountable for the devastation their profit-motive and social-engineering decisions cause.  But leave capitalism the hell alone, and restore government to its absolutely only, singular, exclusive function, which is to protect the rights of the people!</p>
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		<title>By: hazeleyes</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173940</link>
		<dc:creator>hazeleyes</dc:creator>
		<pubDate>Sat, 21 Mar 2009 21:15:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173940</guid>
		<description>Quote: Elect new people that (sic) will change government once and for all, putting an end to the greed and corruption of the political class. Unquote

ElBarbudo:

...and where oh where are &quot;the new people (who) will change government once and for all, putting an end to the greed and corruption of the political class&quot; going to come from? And once they ascend to unlimited power in the federal government, what will keep them from being just as corrupted as what we see today, or God forbid, more so? 

And in fact many of the MOST corrupt are the formerly-idealistic icons from the 60s -- more corrupt than anything we&#039;ve seen before. Or perhaps just like now, in that pretend-ideal era those people only lusted for power, not the flower power that was touted by the press of the time.

People who want to be elected to public office are looking for power. Politicians and politician wannabes are the same pimps and whores, it&#039;s simply that the first are already in office and the others...well, want to be in office. And sadly that is an insult to traditional pimps and whores.

Let us not kid ourselves. Elections are part of the entertainment of the masses -- just like Roman circuses -- and they are opiates that make us think our votes count. They don&#039;t and I&#039;m through pulling levers for politicians who want to use me in order to abuse me. I would not weep if Washington disappeared.</description>
		<content:encoded><![CDATA[<p>Quote: Elect new people that (sic) will change government once and for all, putting an end to the greed and corruption of the political class. Unquote</p>
<p>ElBarbudo:</p>
<p>&#8230;and where oh where are &#8220;the new people (who) will change government once and for all, putting an end to the greed and corruption of the political class&#8221; going to come from? And once they ascend to unlimited power in the federal government, what will keep them from being just as corrupted as what we see today, or God forbid, more so? </p>
<p>And in fact many of the MOST corrupt are the formerly-idealistic icons from the 60s &#8212; more corrupt than anything we&#8217;ve seen before. Or perhaps just like now, in that pretend-ideal era those people only lusted for power, not the flower power that was touted by the press of the time.</p>
<p>People who want to be elected to public office are looking for power. Politicians and politician wannabes are the same pimps and whores, it&#8217;s simply that the first are already in office and the others&#8230;well, want to be in office. And sadly that is an insult to traditional pimps and whores.</p>
<p>Let us not kid ourselves. Elections are part of the entertainment of the masses &#8212; just like Roman circuses &#8212; and they are opiates that make us think our votes count. They don&#8217;t and I&#8217;m through pulling levers for politicians who want to use me in order to abuse me. I would not weep if Washington disappeared.</p>
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		<title>By: John Coulthart</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173937</link>
		<dc:creator>John Coulthart</dc:creator>
		<pubDate>Sat, 21 Mar 2009 19:10:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173937</guid>
		<description>&quot;Smaller government and less taxes is the answer. That’s what will happen after this calamity has passed and the bubble of cradle to grave protection by government is proved to be a disaster.&quot;

I really envy you your fine Spartan/American ethics, El Barbudo. It can be a nightmare living in here the UK. Like the times I needed two operations when I was young and the hospitals refused all offers of money from my parents. The doctors treated me then turned us away from their doors! My parents were forced to spend the money on toys for my sister and I. Then years later, when I needed treatment for an eye complaint. Once again the doctors treated me swiftly and efficiently and laughed when I suggested I pay them for their trouble! What audacity! 

Worst of all was the times when I was unemployed and the government insisted on giving me welfare payments until I could start earning again. I was desperate to prove my Spartan resilience by living under a bridge in a cardboard box but, no, they insisted on paying my rent and making sure I had enough money to eat. It&#039;s shameful, sometimes, it really is.</description>
		<content:encoded><![CDATA[<p>&#8220;Smaller government and less taxes is the answer. That’s what will happen after this calamity has passed and the bubble of cradle to grave protection by government is proved to be a disaster.&#8221;</p>
<p>I really envy you your fine Spartan/American ethics, El Barbudo. It can be a nightmare living in here the UK. Like the times I needed two operations when I was young and the hospitals refused all offers of money from my parents. The doctors treated me then turned us away from their doors! My parents were forced to spend the money on toys for my sister and I. Then years later, when I needed treatment for an eye complaint. Once again the doctors treated me swiftly and efficiently and laughed when I suggested I pay them for their trouble! What audacity! </p>
<p>Worst of all was the times when I was unemployed and the government insisted on giving me welfare payments until I could start earning again. I was desperate to prove my Spartan resilience by living under a bridge in a cardboard box but, no, they insisted on paying my rent and making sure I had enough money to eat. It&#8217;s shameful, sometimes, it really is.</p>
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		<title>By: MusicCityDawg</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173936</link>
		<dc:creator>MusicCityDawg</dc:creator>
		<pubDate>Sat, 21 Mar 2009 19:06:30 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173936</guid>
		<description>The difference between Capitalism and Corporatism is risk.  Capitalists are risk-friendly, Corporatists are risk-averse.  They are 180 degrees apart.</description>
		<content:encoded><![CDATA[<p>The difference between Capitalism and Corporatism is risk.  Capitalists are risk-friendly, Corporatists are risk-averse.  They are 180 degrees apart.</p>
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		<title>By: Apesofmath</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173933</link>
		<dc:creator>Apesofmath</dc:creator>
		<pubDate>Sat, 21 Mar 2009 18:16:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173933</guid>
		<description>Barbedwiresmile: The way you defined corporatism is so similar to fascism, and that&#039;s no mistake!</description>
		<content:encoded><![CDATA[<p>Barbedwiresmile: The way you defined corporatism is so similar to fascism, and that&#8217;s no mistake!</p>
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		<title>By: Apesofmath</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173930</link>
		<dc:creator>Apesofmath</dc:creator>
		<pubDate>Sat, 21 Mar 2009 18:09:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173930</guid>
		<description>This blew my mind.  Definitely a perspective that&#039;s new to me.  I look forward to reading those books you recommended in &lt;i&gt;Hack Money, Hack Banking&lt;/i&gt;.  Too bad your book doesn&#039;t come out until next year.  Looking forward to your future posts, since this needs more detail.</description>
		<content:encoded><![CDATA[<p>This blew my mind.  Definitely a perspective that&#8217;s new to me.  I look forward to reading those books you recommended in <i>Hack Money, Hack Banking</i>.  Too bad your book doesn&#8217;t come out until next year.  Looking forward to your future posts, since this needs more detail.</p>
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		<title>By: barbedwiresmile</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173927</link>
		<dc:creator>barbedwiresmile</dc:creator>
		<pubDate>Sat, 21 Mar 2009 16:36:23 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173927</guid>
		<description>Barbudo- see my comments above.  You are correct in many ways.  However, too many have confused capitalism with corporatism.  These are NOT the same things.  Though there are those in power who want you to feel otherwise.</description>
		<content:encoded><![CDATA[<p>Barbudo- see my comments above.  You are correct in many ways.  However, too many have confused capitalism with corporatism.  These are NOT the same things.  Though there are those in power who want you to feel otherwise.</p>
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		<title>By: El Barbudo</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173926</link>
		<dc:creator>El Barbudo</dc:creator>
		<pubDate>Sat, 21 Mar 2009 16:35:51 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173926</guid>
		<description>There is the one thing about America that no other country can offer, and why people flock here to try and better themselves, including all the Latinos.  Once you move here and become a citizen you are an American!  In no other country in the world is this true.  My daughter lives in Wales and no matter how long, now over 7 years, she will never be considered Welsh, even with citizenship.  She will always be referred to &quot;that American down the street.&quot;  My brother lives in Mexico and despite his &quot;green card&quot; the constitution prohibits him from becoming a &quot;Mexican,&quot; as he must have been born there to achieve this distinction.  Read a little about the Mexican Constitution and you will understand why only the aristocracy runs the country and can run for office or be officers in the Army.  The greatness of this unique experiment called the American dream is based on our Constitution, perhaps the finest document written in the history of the world. Under our Constitution, which correctly refers to rights that cost no one else anything, and are the rights to life, liberty and the pursuit of happiness.  When we get back to these principles our country will prosper again, the dream will not die.  The following generations will change this country and reduce the size of government, solving most of the problems.  For over 50 years all we have heard about is peoples rights, not it is time to start thinking about people&#039;s responsibilities! Elect new people that will change government once and for all, putting an end to the greed and corruption of the political class.  Business people are supposed to make money, politicians are supposed to be providing &quot;public service.&quot;  What happened to change the public service to political greed?</description>
		<content:encoded><![CDATA[<p>There is the one thing about America that no other country can offer, and why people flock here to try and better themselves, including all the Latinos.  Once you move here and become a citizen you are an American!  In no other country in the world is this true.  My daughter lives in Wales and no matter how long, now over 7 years, she will never be considered Welsh, even with citizenship.  She will always be referred to &#8220;that American down the street.&#8221;  My brother lives in Mexico and despite his &#8220;green card&#8221; the constitution prohibits him from becoming a &#8220;Mexican,&#8221; as he must have been born there to achieve this distinction.  Read a little about the Mexican Constitution and you will understand why only the aristocracy runs the country and can run for office or be officers in the Army.  The greatness of this unique experiment called the American dream is based on our Constitution, perhaps the finest document written in the history of the world. Under our Constitution, which correctly refers to rights that cost no one else anything, and are the rights to life, liberty and the pursuit of happiness.  When we get back to these principles our country will prosper again, the dream will not die.  The following generations will change this country and reduce the size of government, solving most of the problems.  For over 50 years all we have heard about is peoples rights, not it is time to start thinking about people&#8217;s responsibilities! Elect new people that will change government once and for all, putting an end to the greed and corruption of the political class.  Business people are supposed to make money, politicians are supposed to be providing &#8220;public service.&#8221;  What happened to change the public service to political greed?</p>
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		<title>By: El Barbudo</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173925</link>
		<dc:creator>El Barbudo</dc:creator>
		<pubDate>Sat, 21 Mar 2009 16:18:30 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173925</guid>
		<description>Everyone reading this article seems to be in agreement that corporatism (capitalism?) is the cause of the current economic system problems.  What do you suggest we replace capitalism with?  Is there anything better?  A capitalistic/republic has produced more wealth for it&#039;s citizens than any other county in the world.  Compare the USA to Europe.  Stagnation, and unions that strike despite more than adequate benefits, few jobs created, grants to start a business, a birth rate of about 1.4 per woman, not enough to replace itself so they invite in Muslims to help replace the needed workers. Europe and the UK are socialistic/democracies at their best and are failing.  You want to replace what we have with what, that?  Individuals doing business with each other and no central banking system? This article is written by a socialist and the ideas proposed do not suggest any solutions or answers.  Hardly worth reading in my opinion. Without corporations that people can invest in, how would capital be raised to expand business and grow ideas?  Have any of you raving about this article ever had a class in economics or business?  I doubt it, yet you seem to eat up this guys prognosis like it&#039;s ice cream on a cone.  Wake up!  America will recover, the people, as long as they continue the fight as rugged individuals will survive and prosper.  It is the governmental at all levels that has screwed up the economy with it&#039;s ever expanding need for revenues that has caused our current problems.  Smaller government and less taxes is the answer.  That&#039;s what will happen after this calamity has passed and the bubble of cradle to grave protection by government is proved to be a disaster.</description>
		<content:encoded><![CDATA[<p>Everyone reading this article seems to be in agreement that corporatism (capitalism?) is the cause of the current economic system problems.  What do you suggest we replace capitalism with?  Is there anything better?  A capitalistic/republic has produced more wealth for it&#8217;s citizens than any other county in the world.  Compare the USA to Europe.  Stagnation, and unions that strike despite more than adequate benefits, few jobs created, grants to start a business, a birth rate of about 1.4 per woman, not enough to replace itself so they invite in Muslims to help replace the needed workers. Europe and the UK are socialistic/democracies at their best and are failing.  You want to replace what we have with what, that?  Individuals doing business with each other and no central banking system? This article is written by a socialist and the ideas proposed do not suggest any solutions or answers.  Hardly worth reading in my opinion. Without corporations that people can invest in, how would capital be raised to expand business and grow ideas?  Have any of you raving about this article ever had a class in economics or business?  I doubt it, yet you seem to eat up this guys prognosis like it&#8217;s ice cream on a cone.  Wake up!  America will recover, the people, as long as they continue the fight as rugged individuals will survive and prosper.  It is the governmental at all levels that has screwed up the economy with it&#8217;s ever expanding need for revenues that has caused our current problems.  Smaller government and less taxes is the answer.  That&#8217;s what will happen after this calamity has passed and the bubble of cradle to grave protection by government is proved to be a disaster.</p>
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		<title>By: barbedwiresmile</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173924</link>
		<dc:creator>barbedwiresmile</dc:creator>
		<pubDate>Sat, 21 Mar 2009 15:58:19 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173924</guid>
		<description>Veltina- you are incorrect.  There is a HUGE difference between capitalism and corporatism.  However, the corporatists have confused the terms over years, and caused you to feel otherwise.

&quot;Capitalism&quot; is simply a free market, not an &quot;ism&quot;, per se.  It is what exists in the absense of central control by the state, tribe or other forced collective - two people exchanging goods, free of control or tax by the state.

Corporatism is when the state colludes with producers of given goods or services to regulate.  This regulation, often written by the corporations themselves, favors the growth of the corporation.  A true free market has a localizing effect on commerce and favors the creation of small, local, independent business-- businesses where you can shake hands with the man or woman whose name is on the door.  Corporatism has the opposite effect.

See: http://barbedwiresmile.wordpress.com/2009/01/24/the-corporation-and-the-state-in-a-regulated-economy/</description>
		<content:encoded><![CDATA[<p>Veltina- you are incorrect.  There is a HUGE difference between capitalism and corporatism.  However, the corporatists have confused the terms over years, and caused you to feel otherwise.</p>
<p>&#8220;Capitalism&#8221; is simply a free market, not an &#8220;ism&#8221;, per se.  It is what exists in the absense of central control by the state, tribe or other forced collective &#8211; two people exchanging goods, free of control or tax by the state.</p>
<p>Corporatism is when the state colludes with producers of given goods or services to regulate.  This regulation, often written by the corporations themselves, favors the growth of the corporation.  A true free market has a localizing effect on commerce and favors the creation of small, local, independent business&#8211; businesses where you can shake hands with the man or woman whose name is on the door.  Corporatism has the opposite effect.</p>
<p>See: <a href="http://barbedwiresmile.wordpress.com/2009/01/24/the-corporation-and-the-state-in-a-regulated-economy/" rel="nofollow">http://barbedwiresmile.wordpress.com/2009/01/24/the-corporation-and-the-state-in-a-regulated-economy/</a></p>
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		<title>By: Nikita</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173923</link>
		<dc:creator>Nikita</dc:creator>
		<pubDate>Sat, 21 Mar 2009 15:17:42 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173923</guid>
		<description>There will be a point where the evil of the corporate system is balanced out by the good of another replacement system, such as direct bartering.  That is to say there will be a big BITE out of corporations.  There should be.  They have had it their way far too long.  
I&#039;m glad I live in France where I can barter directly for my food at the local market with the farmers that produced it!</description>
		<content:encoded><![CDATA[<p>There will be a point where the evil of the corporate system is balanced out by the good of another replacement system, such as direct bartering.  That is to say there will be a big BITE out of corporations.  There should be.  They have had it their way far too long.<br />
I&#8217;m glad I live in France where I can barter directly for my food at the local market with the farmers that produced it!</p>
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		<title>By: piece 0 plastic - the revolution will be blogged &#187; ruff linkage 200912</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173921</link>
		<dc:creator>piece 0 plastic - the revolution will be blogged &#187; ruff linkage 200912</dc:creator>
		<pubDate>Sat, 21 Mar 2009 08:19:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173921</guid>
		<description>[...] LET IT DIE: Rushkoff on the economy - &quot;With any luck, the economy will never recover. In a perfect world, the stock market would decline another 70 or 80 percent along with the shuttering of about that fraction of our nation’s banks. Yes, unemployment would rise as hundreds of thousands of formerly well-paid brokers and bankers lost their jobs; but at least they would no longer be extracting wealth at our expense.&quot; you tell em, douglas. [...]</description>
		<content:encoded><![CDATA[<p>[...] LET IT DIE: Rushkoff on the economy &#8211; &quot;With any luck, the economy will never recover. In a perfect world, the stock market would decline another 70 or 80 percent along with the shuttering of about that fraction of our nation’s banks. Yes, unemployment would rise as hundreds of thousands of formerly well-paid brokers and bankers lost their jobs; but at least they would no longer be extracting wealth at our expense.&quot; you tell em, douglas. [...]</p>
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		<title>By: Notta Commie</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173918</link>
		<dc:creator>Notta Commie</dc:creator>
		<pubDate>Fri, 20 Mar 2009 23:09:11 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173918</guid>
		<description>Why no mention of the quality of life fostered by the corporate/capitalist system?  The system in place for the extraordinary achievements of the last 200 years are relevant.  The advances of technology are not going to occur otherwise in some pastoral nirvana void of ugly things like &quot;growth&quot; and &quot;advancement&quot; and &quot;making money&quot;. Just another screed from a creepy commie that gets a listen every time business slows down a little. By the time you publish this nonsense, no one is going to care because the capitalist economy will be off to the races again and you can go back in your dank hole.</description>
		<content:encoded><![CDATA[<p>Why no mention of the quality of life fostered by the corporate/capitalist system?  The system in place for the extraordinary achievements of the last 200 years are relevant.  The advances of technology are not going to occur otherwise in some pastoral nirvana void of ugly things like &#8220;growth&#8221; and &#8220;advancement&#8221; and &#8220;making money&#8221;. Just another screed from a creepy commie that gets a listen every time business slows down a little. By the time you publish this nonsense, no one is going to care because the capitalist economy will be off to the races again and you can go back in your dank hole.</p>
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		<title>By: Let It Die.. &#124; LILA: The Mind-Body Politic</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173916</link>
		<dc:creator>Let It Die.. &#124; LILA: The Mind-Body Politic</dc:creator>
		<pubDate>Fri, 20 Mar 2009 22:18:30 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173916</guid>
		<description>[...] Douglas Rushkoff in Arthur Mag  [...]</description>
		<content:encoded><![CDATA[<p>[...] Douglas Rushkoff in Arthur Mag  [...]</p>
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		<title>By: Jay Babcock</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173913</link>
		<dc:creator>Jay Babcock</dc:creator>
		<pubDate>Fri, 20 Mar 2009 21:17:16 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173913</guid>
		<description>Hack Money, Hack Banking&quot; by Douglas Rushkoff - follow-up to Monday&#039;s &quot;Let It Die.&quot; http://bit.ly/1aV7r0</description>
		<content:encoded><![CDATA[<p>Hack Money, Hack Banking&#8221; by Douglas Rushkoff &#8211; follow-up to Monday&#8217;s &#8220;Let It Die.&#8221; <a href="http://bit.ly/1aV7r0" rel="nofollow">http://bit.ly/1aV7r0</a></p>
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		<title>By: dohman</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173912</link>
		<dc:creator>dohman</dc:creator>
		<pubDate>Fri, 20 Mar 2009 21:02:51 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173912</guid>
		<description>Successful speculators are better at perceiving value than others.  Perception of value is important to society.  What we value returns interest.  Interest (or gain) is our reward for perceiving value. Price and value are often not synonymous.  The successful speculator knows that and capitalizes on the difference between price and value.  &quot;Moving money around&quot; is an activity that is necessary in the perception of value.  Understanding the laws of nature is not the same as understanding the laws of economics.</description>
		<content:encoded><![CDATA[<p>Successful speculators are better at perceiving value than others.  Perception of value is important to society.  What we value returns interest.  Interest (or gain) is our reward for perceiving value. Price and value are often not synonymous.  The successful speculator knows that and capitalizes on the difference between price and value.  &#8220;Moving money around&#8221; is an activity that is necessary in the perception of value.  Understanding the laws of nature is not the same as understanding the laws of economics.</p>
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		<title>By: Just an engineer</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173911</link>
		<dc:creator>Just an engineer</dc:creator>
		<pubDate>Fri, 20 Mar 2009 19:58:29 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173911</guid>
		<description>Excellent article, for shedding light on a few key points of our economy.

Premise: Capitalism (or whatever -ism name you want to apply to our current system) relies on growth to survive. I.E. a $1000 loan must be paid back in time for $2000. The person / small business / corporation taking out this loan must earn more money than it has borrowed in order to pay it back. They earn money by creating value (selling something they have created, and has a use). This system works, if the growth is small enough to be sustainable over time, matching closely to the natural growth rate of the ability of market / country / Earths population to create real value.

Through several perversions of this model, instability has been created, 

Perversion #1: Banks lending out too much money, especially in high risk loans. When a bank lends money, it is taking a risk that it will be paid back. If the person / business / corporation that takes the money is unable to create value, earn more money, and pay it back, then the bank, and the people who keep their money in the bank, have just lost their money. This one is and has been carried out by countless financial institutions, spurred on by the government in their short-sighted and misplaced efforts to &quot;stimulate growth&quot;. When banks can lend out 30 times more money than they actually have, they take huge risks, and outpace the actual capability of the participants in the system to create more value. (see Sub-Prime mortages, and the avalance of unstable fallout)  

Perversion #2: Speculative &quot;investment&quot; is the practice of making money by buying something at one price, and then selling at another higher price, without actually creating more value.  I.E. futures trading, real estate investing, etc..  The stat quoted was 95% of the activity is speculative.  No wonder the terrorists hate the capitalists.

Wall Steet and the banking industry has been Extreemly successful at it for many many years.  Just look at the profits and salaries of the top execs we have been exposed too in recent months.  How many $30K a year salaries would just one of those Lehman execs salaries cover?? (Scary Math: $165M / $30K = 5,333 people.  That&#039;s 5333 people who make Zero dollars, so one guy who moves money around can make $165 million.) Did that executive actually create value? or did he just move money around and skimm off the top. I&#039;m not pickng on rich people, just those that don&#039;t create value to earn it.

If we fix at least these 2 issues, we will have a sustainable economy.

As you can tell, I&#039;m not an economist, just a systems engineer who understands a few basic laws of nature.</description>
		<content:encoded><![CDATA[<p>Excellent article, for shedding light on a few key points of our economy.</p>
<p>Premise: Capitalism (or whatever -ism name you want to apply to our current system) relies on growth to survive. I.E. a $1000 loan must be paid back in time for $2000. The person / small business / corporation taking out this loan must earn more money than it has borrowed in order to pay it back. They earn money by creating value (selling something they have created, and has a use). This system works, if the growth is small enough to be sustainable over time, matching closely to the natural growth rate of the ability of market / country / Earths population to create real value.</p>
<p>Through several perversions of this model, instability has been created, </p>
<p>Perversion #1: Banks lending out too much money, especially in high risk loans. When a bank lends money, it is taking a risk that it will be paid back. If the person / business / corporation that takes the money is unable to create value, earn more money, and pay it back, then the bank, and the people who keep their money in the bank, have just lost their money. This one is and has been carried out by countless financial institutions, spurred on by the government in their short-sighted and misplaced efforts to &#8220;stimulate growth&#8221;. When banks can lend out 30 times more money than they actually have, they take huge risks, and outpace the actual capability of the participants in the system to create more value. (see Sub-Prime mortages, and the avalance of unstable fallout)  </p>
<p>Perversion #2: Speculative &#8220;investment&#8221; is the practice of making money by buying something at one price, and then selling at another higher price, without actually creating more value.  I.E. futures trading, real estate investing, etc..  The stat quoted was 95% of the activity is speculative.  No wonder the terrorists hate the capitalists.</p>
<p>Wall Steet and the banking industry has been Extreemly successful at it for many many years.  Just look at the profits and salaries of the top execs we have been exposed too in recent months.  How many $30K a year salaries would just one of those Lehman execs salaries cover?? (Scary Math: $165M / $30K = 5,333 people.  That&#8217;s 5333 people who make Zero dollars, so one guy who moves money around can make $165 million.) Did that executive actually create value? or did he just move money around and skimm off the top. I&#8217;m not pickng on rich people, just those that don&#8217;t create value to earn it.</p>
<p>If we fix at least these 2 issues, we will have a sustainable economy.</p>
<p>As you can tell, I&#8217;m not an economist, just a systems engineer who understands a few basic laws of nature.</p>
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		<title>By: KingofthePaupers</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173909</link>
		<dc:creator>KingofthePaupers</dc:creator>
		<pubDate>Fri, 20 Mar 2009 18:24:34 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173909</guid>
		<description>Best of all, all local currencies are pegged to the Time Standard of Money (how many dollars/hour child labor) and Hours earned locally can be intertraded with other timebanks globally! 
In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours. 
U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture. 
See my banking systems engineering analysis at http://youtube.com/kingofthepaupers with an index of articles at http://johnturmel.com/kotp.htm 
So yes, let the bankster ship sink while we unite our community currency lifeboats around the world through the internet.</description>
		<content:encoded><![CDATA[<p>Best of all, all local currencies are pegged to the Time Standard of Money (how many dollars/hour child labor) and Hours earned locally can be intertraded with other timebanks globally!<br />
In 1999, I paid for 39/40 nights in Europe with an IOU for a night back in Canada worth 5 Hours.<br />
U.N. Millennium Declaration UNILETS Resolution C6 to governments is for a time-based currency to restructure the global financial architecture.<br />
See my banking systems engineering analysis at <a href="http://youtube.com/kingofthepaupers" rel="nofollow">http://youtube.com/kingofthepaupers</a> with an index of articles at <a href="http://johnturmel.com/kotp.htm" rel="nofollow">http://johnturmel.com/kotp.htm</a><br />
So yes, let the bankster ship sink while we unite our community currency lifeboats around the world through the internet.</p>
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		<title>By: Ron O'Neal</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173907</link>
		<dc:creator>Ron O'Neal</dc:creator>
		<pubDate>Fri, 20 Mar 2009 18:07:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173907</guid>
		<description>@TheLibertine: When did anti-corporate become pro-Stalinism? Who said anything about government controlled farms? (If corporatism does not get checked, the result may be Monsanto controlled farms. How would that be that preferable?) I think the argument here is about being for small businesses and for trust busting, not for state control. The commodificaion of the superficial aspects of 60&#039;s culture was the real &quot;abomination&quot;.

@Len: A CSA is a small business, not a commune. Yes, folks will work when it benefits them, but corporations sucks the wealth from the folks and deposits it at the top. Income distributions are skewed worse than 30 years ago - where&#039;s the benefit there?</description>
		<content:encoded><![CDATA[<p>@TheLibertine: When did anti-corporate become pro-Stalinism? Who said anything about government controlled farms? (If corporatism does not get checked, the result may be Monsanto controlled farms. How would that be that preferable?) I think the argument here is about being for small businesses and for trust busting, not for state control. The commodificaion of the superficial aspects of 60&#8242;s culture was the real &#8220;abomination&#8221;.</p>
<p>@Len: A CSA is a small business, not a commune. Yes, folks will work when it benefits them, but corporations sucks the wealth from the folks and deposits it at the top. Income distributions are skewed worse than 30 years ago &#8211; where&#8217;s the benefit there?</p>
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		<title>By: Len</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173906</link>
		<dc:creator>Len</dc:creator>
		<pubDate>Fri, 20 Mar 2009 17:17:02 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173906</guid>
		<description>After reading this article and subsequent comments, I think the &quot;neighborhood community/worker hybrid association&quot; was called communes in the USSR.

It is human nature to work &quot;like a dog&quot; to improve the lot of ones self, especially if one is working on a piece work basis, or in your own company. 
When you are working for every one else and your pay is the same no matter how hard you work, the result is the USSR. 
A USSR joke was - We pretend to work and They pretend to pay us -

This scheme, like socialism, or Communism will always fail. 

Man will only work, think, invent, etc, when it benefits him.

Our Banking system is a Ponzi type fraud given us by FDR.
The Fed should be disbanded and its duties taken over by the Treasury Dept, which is its main reason for existence. 
I agree that that the Fed should not ever charge interest.
Local banks should be allowed to lend out their customer’s savings, Not 10 times that amount.  
All currency should be redeemable in gold, silver or other precious metal.

Credit card companies should not be exempt from bankruptcy discharge, and they should be subject to usury laws.</description>
		<content:encoded><![CDATA[<p>After reading this article and subsequent comments, I think the &#8220;neighborhood community/worker hybrid association&#8221; was called communes in the USSR.</p>
<p>It is human nature to work &#8220;like a dog&#8221; to improve the lot of ones self, especially if one is working on a piece work basis, or in your own company.<br />
When you are working for every one else and your pay is the same no matter how hard you work, the result is the USSR.<br />
A USSR joke was &#8211; We pretend to work and They pretend to pay us -</p>
<p>This scheme, like socialism, or Communism will always fail. </p>
<p>Man will only work, think, invent, etc, when it benefits him.</p>
<p>Our Banking system is a Ponzi type fraud given us by FDR.<br />
The Fed should be disbanded and its duties taken over by the Treasury Dept, which is its main reason for existence.<br />
I agree that that the Fed should not ever charge interest.<br />
Local banks should be allowed to lend out their customer’s savings, Not 10 times that amount.<br />
All currency should be redeemable in gold, silver or other precious metal.</p>
<p>Credit card companies should not be exempt from bankruptcy discharge, and they should be subject to usury laws.</p>
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		<title>By: TheLibertine</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173905</link>
		<dc:creator>TheLibertine</dc:creator>
		<pubDate>Fri, 20 Mar 2009 17:12:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173905</guid>
		<description>Neo-marxists and socialists will find themselves in the same chains that the Bolsheviks experienced under Stalin&#039;s oppression. The 60s were an abomination and its progeny are destroying the greatest republic in history. We&#039;ll see how well the pseudo-intellectuals and aging hippies among you like picking fruit and veg in the vast government controlled farms that are your future.

Oh and by the way, the revolution will not be televised!</description>
		<content:encoded><![CDATA[<p>Neo-marxists and socialists will find themselves in the same chains that the Bolsheviks experienced under Stalin&#8217;s oppression. The 60s were an abomination and its progeny are destroying the greatest republic in history. We&#8217;ll see how well the pseudo-intellectuals and aging hippies among you like picking fruit and veg in the vast government controlled farms that are your future.</p>
<p>Oh and by the way, the revolution will not be televised!</p>
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		<title>By: Ian</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173879</link>
		<dc:creator>Ian</dc:creator>
		<pubDate>Thu, 19 Mar 2009 18:13:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173879</guid>
		<description>While I found Mr. Rushkoff&#039;s article insightful and interesting, I have to agree with Chris B. that this is one of the worst ideas I have heard in a long time.  What happens to the currently low-income individuals in middle age or older who don&#039;t have the physical or mental capacity to labor manually or learn to provide a &quot;service&quot; or good that is desired by the local community?  I suppose they starve.  Also, it appears that retirement is no longer an option under Rushkoff&#039;s proposal, because it would be much more difficult to accumulate sufficient wealth to sustain oneself without working using &quot;local&quot; currency that devalues at a fairly rapid clip.

I suppose if the goal is to return to an agrarian system where most people engage in subsistence farming and work until they die, Rushkoff&#039;s suggestion that we &quot;seize the day&quot; and follow his advice is valid.  Personally, I will continue to seek a more moderate approach that preserves societal features such as technological innovation while increasing the availability of financial and other resources to the general public, and making increased concentration of wealth less inevitable.</description>
		<content:encoded><![CDATA[<p>While I found Mr. Rushkoff&#8217;s article insightful and interesting, I have to agree with Chris B. that this is one of the worst ideas I have heard in a long time.  What happens to the currently low-income individuals in middle age or older who don&#8217;t have the physical or mental capacity to labor manually or learn to provide a &#8220;service&#8221; or good that is desired by the local community?  I suppose they starve.  Also, it appears that retirement is no longer an option under Rushkoff&#8217;s proposal, because it would be much more difficult to accumulate sufficient wealth to sustain oneself without working using &#8220;local&#8221; currency that devalues at a fairly rapid clip.</p>
<p>I suppose if the goal is to return to an agrarian system where most people engage in subsistence farming and work until they die, Rushkoff&#8217;s suggestion that we &#8220;seize the day&#8221; and follow his advice is valid.  Personally, I will continue to seek a more moderate approach that preserves societal features such as technological innovation while increasing the availability of financial and other resources to the general public, and making increased concentration of wealth less inevitable.</p>
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		<title>By: Tomas</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173876</link>
		<dc:creator>Tomas</dc:creator>
		<pubDate>Thu, 19 Mar 2009 16:16:22 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173876</guid>
		<description>It would be useful to explore the alternative economic system known as &quot;Distributism.&quot;  It would seem, in my estimation, in large part in line with your propositions.  You can find the founding papers for that in book called &quot;Flee to the Fields.&quot;  You can find it here: http://www.ihspress.com/flee.htm

And by the way, don&#039;t let an anti-Catholic bias keep you from considering this economic system, there is a lot of merit to it for the social well-being of our country.</description>
		<content:encoded><![CDATA[<p>It would be useful to explore the alternative economic system known as &#8220;Distributism.&#8221;  It would seem, in my estimation, in large part in line with your propositions.  You can find the founding papers for that in book called &#8220;Flee to the Fields.&#8221;  You can find it here: <a href="http://www.ihspress.com/flee.htm" rel="nofollow">http://www.ihspress.com/flee.htm</a></p>
<p>And by the way, don&#8217;t let an anti-Catholic bias keep you from considering this economic system, there is a lot of merit to it for the social well-being of our country.</p>
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		<title>By: Mike Morin</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173867</link>
		<dc:creator>Mike Morin</dc:creator>
		<pubDate>Thu, 19 Mar 2009 04:11:43 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173867</guid>
		<description>Reforming Financial Systems



With respect to the &quot;nature of wealth&quot;, I think that the &quot;quality of life&quot; paradigm in lieu of the &quot;standard of living&quot; paradigm needs to be stressed.

&quot;Quality of life&quot; includes personal happiness for self, family, friends, neighbors, and all others. It includes ownership opportunities for all and everybuddy having the things they need, including health, healthy and loving relations with family, friends, neighbors, and all the people of the world. It includes peace on earth, and it includes a future for all the children of the world.

&quot;Standard of living&quot; implies maximizing the consumption of things.

The current Capitalist dominated system is dysfunctional both from an equity/fairness and economic and natural resource sustainability perspective.

The dominant paradigm in Capitalist financial business operations uses something called the discount rate which assumes that money will be worth less (eventually worthless) in the future, thus creating a necessity to extract profits exceeding a &quot;hurdle&quot; rate leading to unfair and unwise exploitation of workers, borrowers, and natural resources, and to rampant inflation.

The use of credit is not a good business or personal practice. In business, it should be discouraged because creditors have first claims on net revenues and hold liens on real property and capital assets. For &quot;consumers&quot;, the use of credit is unwise because the system is set up to extract profits from interest thus assuring that when consumers use credit that they are losing money relative to inflation. Certainly the current foreclosure crisis in the USA is ample evidence of the inflation and the unfairness and unhealthiness of the mortgage lien process.

Credit Unions and Mutual Insurance companies are in theory attempts to institute non-profit economic democracies for their respective industries. However, because of the need to compete for customers, both of these relatively progressive financial service organization types are forced to play the same game that is basically destructive to individuals, families, communities, and the natural environment. Ideally, credit should only be used as a last resort, much more preferably not at all. We should replace all aspects of the extant financial system with an Equity Union. In some ways, a mutual insurance company is similar to an equity union. However, because such companies are required to realize profits in order to compete for &quot;policy holders&quot; (really investors), the companies that comprise the portfolios of the mutual insurance firms cannot be not-for-profit, can not be mutual organizations themselves.

In a not-for profit Equity Union financial services system based on principles of mutuality working in concert with ethical, wise, knowledgeable, and intelligent community, inter-community, inter-regional, and worldwide planning there would certainly be an important role for financial service workers.

A major impediment to such an Equity Union would be the competitive advantage of the current financial sector and the fear of the friction of change to those individuals and organizations. Dealing with this sector of &quot;the&quot; economy, it would be more feasible with regards to Capitalist resistance and more humane, to orderly and peacefully transition to an Equity Union, coordinated with ecologically sound economic planning.

I am writing and talking about transitioning slowly, methodically, and with the minimum amount of friction and hardship from a dysfunctional financial system, based on self-interest, to one designed to benefit everybuddy.

At risk of understatement, it will take a huge amount of work to educate folks to the need and benefits of such change and to communicate the basic Plan. Transition Planning will also be a very difficult process, but I see no alternative to the current, impending and worsening global economic, political, social, and natural environmental collapse.

The Peoples&#039; Equity Union concept is designed to be a grass roots, popular choice &quot;movement&quot;. I am organizing with individuals, workers, and shopkeepers in my neighborhood, adjoining neighborhoods, and through the inter-net to whomever I can attract an interest in the concept.

The focus is primarily local, yet global at the same time. It is my dream, not a hope yet, to encourage a critical mass of people to organize locally around a unifying mission, unifying principles, unifying strategies, and unifying tactics in order to minimize the amount of executive administration at the regional and global levels.

The theory is that neighborhood locales, the neighborhood community/worker hybrid association will have maximum autonomy and will be guided only, in their inter-community and inter-economic sector relationships by regional Planning Boards and a Global Policy Committee.
We must replace the current equity trading systems, corporate conglomerate corporations, insurance companies, and usurious banking systems of the Capitalist status quo with a worldwide Peoples&#039; Equity Union with branches in every community/neighborhood.

The goal is to be a true economic democracy: of, for, and by the people.</description>
		<content:encoded><![CDATA[<p>Reforming Financial Systems</p>
<p>With respect to the &#8220;nature of wealth&#8221;, I think that the &#8220;quality of life&#8221; paradigm in lieu of the &#8220;standard of living&#8221; paradigm needs to be stressed.</p>
<p>&#8220;Quality of life&#8221; includes personal happiness for self, family, friends, neighbors, and all others. It includes ownership opportunities for all and everybuddy having the things they need, including health, healthy and loving relations with family, friends, neighbors, and all the people of the world. It includes peace on earth, and it includes a future for all the children of the world.</p>
<p>&#8220;Standard of living&#8221; implies maximizing the consumption of things.</p>
<p>The current Capitalist dominated system is dysfunctional both from an equity/fairness and economic and natural resource sustainability perspective.</p>
<p>The dominant paradigm in Capitalist financial business operations uses something called the discount rate which assumes that money will be worth less (eventually worthless) in the future, thus creating a necessity to extract profits exceeding a &#8220;hurdle&#8221; rate leading to unfair and unwise exploitation of workers, borrowers, and natural resources, and to rampant inflation.</p>
<p>The use of credit is not a good business or personal practice. In business, it should be discouraged because creditors have first claims on net revenues and hold liens on real property and capital assets. For &#8220;consumers&#8221;, the use of credit is unwise because the system is set up to extract profits from interest thus assuring that when consumers use credit that they are losing money relative to inflation. Certainly the current foreclosure crisis in the USA is ample evidence of the inflation and the unfairness and unhealthiness of the mortgage lien process.</p>
<p>Credit Unions and Mutual Insurance companies are in theory attempts to institute non-profit economic democracies for their respective industries. However, because of the need to compete for customers, both of these relatively progressive financial service organization types are forced to play the same game that is basically destructive to individuals, families, communities, and the natural environment. Ideally, credit should only be used as a last resort, much more preferably not at all. We should replace all aspects of the extant financial system with an Equity Union. In some ways, a mutual insurance company is similar to an equity union. However, because such companies are required to realize profits in order to compete for &#8220;policy holders&#8221; (really investors), the companies that comprise the portfolios of the mutual insurance firms cannot be not-for-profit, can not be mutual organizations themselves.</p>
<p>In a not-for profit Equity Union financial services system based on principles of mutuality working in concert with ethical, wise, knowledgeable, and intelligent community, inter-community, inter-regional, and worldwide planning there would certainly be an important role for financial service workers.</p>
<p>A major impediment to such an Equity Union would be the competitive advantage of the current financial sector and the fear of the friction of change to those individuals and organizations. Dealing with this sector of &#8220;the&#8221; economy, it would be more feasible with regards to Capitalist resistance and more humane, to orderly and peacefully transition to an Equity Union, coordinated with ecologically sound economic planning.</p>
<p>I am writing and talking about transitioning slowly, methodically, and with the minimum amount of friction and hardship from a dysfunctional financial system, based on self-interest, to one designed to benefit everybuddy.</p>
<p>At risk of understatement, it will take a huge amount of work to educate folks to the need and benefits of such change and to communicate the basic Plan. Transition Planning will also be a very difficult process, but I see no alternative to the current, impending and worsening global economic, political, social, and natural environmental collapse.</p>
<p>The Peoples&#8217; Equity Union concept is designed to be a grass roots, popular choice &#8220;movement&#8221;. I am organizing with individuals, workers, and shopkeepers in my neighborhood, adjoining neighborhoods, and through the inter-net to whomever I can attract an interest in the concept.</p>
<p>The focus is primarily local, yet global at the same time. It is my dream, not a hope yet, to encourage a critical mass of people to organize locally around a unifying mission, unifying principles, unifying strategies, and unifying tactics in order to minimize the amount of executive administration at the regional and global levels.</p>
<p>The theory is that neighborhood locales, the neighborhood community/worker hybrid association will have maximum autonomy and will be guided only, in their inter-community and inter-economic sector relationships by regional Planning Boards and a Global Policy Committee.<br />
We must replace the current equity trading systems, corporate conglomerate corporations, insurance companies, and usurious banking systems of the Capitalist status quo with a worldwide Peoples&#8217; Equity Union with branches in every community/neighborhood.</p>
<p>The goal is to be a true economic democracy: of, for, and by the people.</p>
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		<title>By: Mike Morin</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173866</link>
		<dc:creator>Mike Morin</dc:creator>
		<pubDate>Thu, 19 Mar 2009 03:49:12 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173866</guid>
		<description>Hi Douglas,
 
I read your essay, &quot;Let it Die&quot;, earlier today and I agree with every word of it.
 
Nice job.
 
Here&#039;s a little something that I wrote on the Quaker Peace list-serv that may be pertinent to what could take the place of the Capitalist status quo.
 
&quot;I hope that Friend Funke is more correct in his interpretation of FCNL&#039;s (Friends Committee on National Legislation)
 position on Afghanistan, and more importantly that the policy of the United
 States Government becomes that as advocated in that interpretation.

 Because interest rates are approaching 0%, this may be a very opportune time
 to make peace with the Islamic world and the struggles of working class and
 other financially oppressed peoples of the world.

 In accordance with Moslem law, loans are not acceptable because they view
 all interest as usury. At a time when interest rates are approaching 0%, it
 may be a good time to convert all banks and lending institutions into
 community development credit unions (CDCUs) and to convert the CDCUs into
 equity unions (where communities form equity partnerships with existing
 and/or would be community betterment cooperatives and/or small independent community betterment
 businesses).

 It won&#039;t be easy to climb down from the ladder of inflated market costs, and
 other problems, due to the fundamentally inflationary and the irrational
 resource allocation nature of Capitalism, but it could be a very good start
 toward peace and local, inter-community, inter-regional, and worldwide 
humane, quality, equitable, sustainable economic recovery.&quot;
 
********************************************************
 
I  will send you two additional e-mails with respect to my alternative economic plan. Please peruse these relatively brief essays and if you have the time look at my web log, www.peoplesequityunion.blogspot.com .
 
It would be great to get your feedback.
 

 Peace,

Mike Morin</description>
		<content:encoded><![CDATA[<p>Hi Douglas,</p>
<p>I read your essay, &#8220;Let it Die&#8221;, earlier today and I agree with every word of it.</p>
<p>Nice job.</p>
<p>Here&#8217;s a little something that I wrote on the Quaker Peace list-serv that may be pertinent to what could take the place of the Capitalist status quo.</p>
<p>&#8220;I hope that Friend Funke is more correct in his interpretation of FCNL&#8217;s (Friends Committee on National Legislation)<br />
 position on Afghanistan, and more importantly that the policy of the United<br />
 States Government becomes that as advocated in that interpretation.</p>
<p> Because interest rates are approaching 0%, this may be a very opportune time<br />
 to make peace with the Islamic world and the struggles of working class and<br />
 other financially oppressed peoples of the world.</p>
<p> In accordance with Moslem law, loans are not acceptable because they view<br />
 all interest as usury. At a time when interest rates are approaching 0%, it<br />
 may be a good time to convert all banks and lending institutions into<br />
 community development credit unions (CDCUs) and to convert the CDCUs into<br />
 equity unions (where communities form equity partnerships with existing<br />
 and/or would be community betterment cooperatives and/or small independent community betterment<br />
 businesses).</p>
<p> It won&#8217;t be easy to climb down from the ladder of inflated market costs, and<br />
 other problems, due to the fundamentally inflationary and the irrational<br />
 resource allocation nature of Capitalism, but it could be a very good start<br />
 toward peace and local, inter-community, inter-regional, and worldwide<br />
humane, quality, equitable, sustainable economic recovery.&#8221;</p>
<p>********************************************************</p>
<p>I  will send you two additional e-mails with respect to my alternative economic plan. Please peruse these relatively brief essays and if you have the time look at my web log, <a href="http://www.peoplesequityunion.blogspot.com" rel="nofollow">http://www.peoplesequityunion.blogspot.com</a> .</p>
<p>It would be great to get your feedback.</p>
<p> Peace,</p>
<p>Mike Morin</p>
]]></content:encoded>
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		<title>By: Tom Human</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173861</link>
		<dc:creator>Tom Human</dc:creator>
		<pubDate>Thu, 19 Mar 2009 00:51:51 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173861</guid>
		<description>John Watson: You can&#039;t &quot;lend into existence&quot; pencils or supercolliders, of course.

But consider what a bank does.  If I put $1000 in the bank, it&#039;s mine - but the bank can loan that money out too.  So I have it AND someone else has it - new money has been created - &quot;lent into existence&quot;.

When the central bank issues billions of Treasury bonds - billions of dollars are created from nothing.

This is hardly some leftist fantasy - read anything the government writes about the &quot;money supply&quot;.  Banks have a legal right to literally create money from nothing.

This isn&#039;t necessarily a bad thing - in a well-regulated market.

I have to say that I really don&#039;t understand the rest of your comments. What part of &quot;borrowed... paid back&quot; is unclear?  In what world do you live where people lend money and don&#039;t charge interest?

(My credentials are that I worked on Wall St for years and have a degree in math.)</description>
		<content:encoded><![CDATA[<p>John Watson: You can&#8217;t &#8220;lend into existence&#8221; pencils or supercolliders, of course.</p>
<p>But consider what a bank does.  If I put $1000 in the bank, it&#8217;s mine &#8211; but the bank can loan that money out too.  So I have it AND someone else has it &#8211; new money has been created &#8211; &#8220;lent into existence&#8221;.</p>
<p>When the central bank issues billions of Treasury bonds &#8211; billions of dollars are created from nothing.</p>
<p>This is hardly some leftist fantasy &#8211; read anything the government writes about the &#8220;money supply&#8221;.  Banks have a legal right to literally create money from nothing.</p>
<p>This isn&#8217;t necessarily a bad thing &#8211; in a well-regulated market.</p>
<p>I have to say that I really don&#8217;t understand the rest of your comments. What part of &#8220;borrowed&#8230; paid back&#8221; is unclear?  In what world do you live where people lend money and don&#8217;t charge interest?</p>
<p>(My credentials are that I worked on Wall St for years and have a degree in math.)</p>
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		<title>By: John Watson</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173859</link>
		<dc:creator>John Watson</dc:creator>
		<pubDate>Wed, 18 Mar 2009 23:54:36 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173859</guid>
		<description>This article contains precisely the exact same &#039;failure to explain&#039; that is contained in virtually every other article that I&#039;ve read on this subject of the centralization of the money supply. 

Here is the point at which I stopped reading this article:

&quot;These centralized currencies worked the opposite way. They were not earned into existence, they were lent into existence by a central bank. This meant any money issued to a person or business had to be paid back to the central bank, with interest.&quot;

Mr Rushkoff, you know an immense about your subject. The problem is that you have lost sight of the staggering ignorance of a layperson, such as myself, who is desperately trying to understand the root causes of what is happening.

When you say &quot;lent into existence&quot;, what on earth does that mean? For example, if you ask me if I can lend you a pencil, is there some strange alchemy by which I can &quot;lend a pencil into existence&quot; in order that you can be in possession of a borrowed pencil? Is there a fundamental property of matter of which I have been totally unaware for the last 60 years? That property by which, after receiving a request to borrow a quantity of matter in whatever form whether it&#039;s a pencil or a Large Hadron Collider, that then enables it to be &quot;lent it into existence&quot;.

Then you talk about &quot;any money issued … had to be paid back … with interest&quot;. The problems here are manifold. 

First, the expression &quot;money issued&quot; obviously relates to the alchemical process of &quot;lending into existence&quot;, and so I&#039;m completely unable to understand how this abstract magic money is &quot;issued&quot;. What does &quot;issued&quot; mean? Does it &quot;droppeth as the gentle rain from heaven&quot;? Is that the form of its issuance or is there another form?

Second, we have &quot;had to be paid back&quot;. What on earth are you talking about? You have supplied the reader with the adjective &quot;issued&quot; without explaining the form that this issuance takes, and then you talk about &quot;paying back&quot;. I&#039;m able to connect your tenuous threads here just a little. You referred to &quot;lent into existence&quot;, which probably relates to &quot;paid back&quot; as in terms of a loan. But in the adjective &quot;issued&quot; there is no hint of loan/debt/borrowing. Which results in me having to start going round in circles by asking yet again: What does &quot;issued&quot; mean?

Third, and finally because I&#039;m getting a little tired, you use the expression &quot;with interest&quot;. Certainly, I&#039;ve borrowed money from a bank and repaid it with interest. But I&#039;ve never had any dealings with a central bank. In what manner does this central bank create magic money and &quot;issue&quot; it without any implication of loan/debt/borrowing and then persuade the recipient of the issuance that interest has to be paid? None of this adds up.

You know so much about your subject that this response will probably fall beneath your radar and will be dismissed as the ravings of a senile idiot having a bad day. So be it.

I shouldn&#039;t send this, but someone in the comity of economists has to be made aware that you aren&#039;t communicating as you should in these extraordinary times.</description>
		<content:encoded><![CDATA[<p>This article contains precisely the exact same &#8216;failure to explain&#8217; that is contained in virtually every other article that I&#8217;ve read on this subject of the centralization of the money supply. </p>
<p>Here is the point at which I stopped reading this article:</p>
<p>&#8220;These centralized currencies worked the opposite way. They were not earned into existence, they were lent into existence by a central bank. This meant any money issued to a person or business had to be paid back to the central bank, with interest.&#8221;</p>
<p>Mr Rushkoff, you know an immense about your subject. The problem is that you have lost sight of the staggering ignorance of a layperson, such as myself, who is desperately trying to understand the root causes of what is happening.</p>
<p>When you say &#8220;lent into existence&#8221;, what on earth does that mean? For example, if you ask me if I can lend you a pencil, is there some strange alchemy by which I can &#8220;lend a pencil into existence&#8221; in order that you can be in possession of a borrowed pencil? Is there a fundamental property of matter of which I have been totally unaware for the last 60 years? That property by which, after receiving a request to borrow a quantity of matter in whatever form whether it&#8217;s a pencil or a Large Hadron Collider, that then enables it to be &#8220;lent it into existence&#8221;.</p>
<p>Then you talk about &#8220;any money issued … had to be paid back … with interest&#8221;. The problems here are manifold. </p>
<p>First, the expression &#8220;money issued&#8221; obviously relates to the alchemical process of &#8220;lending into existence&#8221;, and so I&#8217;m completely unable to understand how this abstract magic money is &#8220;issued&#8221;. What does &#8220;issued&#8221; mean? Does it &#8220;droppeth as the gentle rain from heaven&#8221;? Is that the form of its issuance or is there another form?</p>
<p>Second, we have &#8220;had to be paid back&#8221;. What on earth are you talking about? You have supplied the reader with the adjective &#8220;issued&#8221; without explaining the form that this issuance takes, and then you talk about &#8220;paying back&#8221;. I&#8217;m able to connect your tenuous threads here just a little. You referred to &#8220;lent into existence&#8221;, which probably relates to &#8220;paid back&#8221; as in terms of a loan. But in the adjective &#8220;issued&#8221; there is no hint of loan/debt/borrowing. Which results in me having to start going round in circles by asking yet again: What does &#8220;issued&#8221; mean?</p>
<p>Third, and finally because I&#8217;m getting a little tired, you use the expression &#8220;with interest&#8221;. Certainly, I&#8217;ve borrowed money from a bank and repaid it with interest. But I&#8217;ve never had any dealings with a central bank. In what manner does this central bank create magic money and &#8220;issue&#8221; it without any implication of loan/debt/borrowing and then persuade the recipient of the issuance that interest has to be paid? None of this adds up.</p>
<p>You know so much about your subject that this response will probably fall beneath your radar and will be dismissed as the ravings of a senile idiot having a bad day. So be it.</p>
<p>I shouldn&#8217;t send this, but someone in the comity of economists has to be made aware that you aren&#8217;t communicating as you should in these extraordinary times.</p>
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		<title>By: Shane</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173858</link>
		<dc:creator>Shane</dc:creator>
		<pubDate>Wed, 18 Mar 2009 23:43:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173858</guid>
		<description>I think, more correctly, that change on a large scale must come slowly and generally.  A rapid &#039;revolutionary&#039; change en masse will create instability globally and give rise to other nations who choose to use the power of capitalism to feed on the vestigal remnants of capitalism in the west.

We&#039;d lose our international strength, if only for a time, but what a time it is to lose that edge!

We would not be able to return to the top of the dogpile soon enough to weigh influence and keep foreign powers down.

This revolution, if it is to happen at all, needs to happen slowly.  Cut the worst offenders out of the system and let them shrivel and rot.  AIG, The big 3 auto makers, and the like.  Replace them with smart, domestic innovation that bends knee to Rushkoff&#039;s line of thinking.</description>
		<content:encoded><![CDATA[<p>I think, more correctly, that change on a large scale must come slowly and generally.  A rapid &#8216;revolutionary&#8217; change en masse will create instability globally and give rise to other nations who choose to use the power of capitalism to feed on the vestigal remnants of capitalism in the west.</p>
<p>We&#8217;d lose our international strength, if only for a time, but what a time it is to lose that edge!</p>
<p>We would not be able to return to the top of the dogpile soon enough to weigh influence and keep foreign powers down.</p>
<p>This revolution, if it is to happen at all, needs to happen slowly.  Cut the worst offenders out of the system and let them shrivel and rot.  AIG, The big 3 auto makers, and the like.  Replace them with smart, domestic innovation that bends knee to Rushkoff&#8217;s line of thinking.</p>
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		<title>By: Wonks Anonymous</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173853</link>
		<dc:creator>Wonks Anonymous</dc:creator>
		<pubDate>Wed, 18 Mar 2009 21:39:48 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173853</guid>
		<description>People were saying exctly this during the Great Depression. the Social Democratic party of Germany fought Keynesian macro economic policy because they felt that it would not solve &quot;the basic contradictions of capitalism&quot;.

Instead of a communist revolution they got Hitler. Do you think that we would fare any better?

In fact there are many things that can be done with intelligent collective action to bring our modern economy into balance with itself and the world. Just because our leaders for the past 30 years have been monumentally clueless in this respect does not mean that it cannot be done.

http://wonksanonymous.com/2009/03/05/equal-time-for-fools-on-the-left.aspx</description>
		<content:encoded><![CDATA[<p>People were saying exctly this during the Great Depression. the Social Democratic party of Germany fought Keynesian macro economic policy because they felt that it would not solve &#8220;the basic contradictions of capitalism&#8221;.</p>
<p>Instead of a communist revolution they got Hitler. Do you think that we would fare any better?</p>
<p>In fact there are many things that can be done with intelligent collective action to bring our modern economy into balance with itself and the world. Just because our leaders for the past 30 years have been monumentally clueless in this respect does not mean that it cannot be done.</p>
<p><a href="http://wonksanonymous.com/2009/03/05/equal-time-for-fools-on-the-left.aspx" rel="nofollow">http://wonksanonymous.com/2009/03/05/equal-time-for-fools-on-the-left.aspx</a></p>
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		<title>By: ChrisB</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173852</link>
		<dc:creator>ChrisB</dc:creator>
		<pubDate>Wed, 18 Mar 2009 21:37:35 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173852</guid>
		<description>I think that letting an entire economic system &quot;die&quot; so that it can go back to some non-existent idealized past is perhaps the worst thing I have read by any commentator on the current state of the economy.  You&#039;re talking about not only destroying peoples&#039; livelihoods, but their lives.  The first to be hurt will be the majority living on the edge of (or below) the poverty line.  The rich and the big corporations will be the last and least affected.  You should really be ashamed.</description>
		<content:encoded><![CDATA[<p>I think that letting an entire economic system &#8220;die&#8221; so that it can go back to some non-existent idealized past is perhaps the worst thing I have read by any commentator on the current state of the economy.  You&#8217;re talking about not only destroying peoples&#8217; livelihoods, but their lives.  The first to be hurt will be the majority living on the edge of (or below) the poverty line.  The rich and the big corporations will be the last and least affected.  You should really be ashamed.</p>
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		<title>By: Harbinger</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173847</link>
		<dc:creator>Harbinger</dc:creator>
		<pubDate>Wed, 18 Mar 2009 14:30:56 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173847</guid>
		<description>@Veltlina: I&#039;m thinking that we are talking about two different things. By &quot;corporatism&quot; the author, I believe, is taking the popular usage: undue influence or even outright corruption in government by large business interests to the detriment of the public, even freezing the public out of the process altogether. Another word would be corporatocracy, but that doesn&#039;t resonate with the media as well. I think you may referring to more, as you say, &quot;classical&quot; definitions, which is another way of saying &quot;academic.&quot; To say that &quot;corporatism/corporatocracy&quot; is equivalent to &quot;capitalism&quot; misses the point entirely. You can attempt to have capitalism with a level playing field, or without utter corruption of government and regulatory agencies. In fact, it&#039;s not true capitalism unless everyone has an equal opportunity to compete. Small, local businesses also represent capitalism, but they have been getting the stuffing knocked out of them over the last few decades by the corporations standing on the high ground they have purchased at our expense. I think the author grasped this very important distinction accurately.</description>
		<content:encoded><![CDATA[<p>@Veltlina: I&#8217;m thinking that we are talking about two different things. By &#8220;corporatism&#8221; the author, I believe, is taking the popular usage: undue influence or even outright corruption in government by large business interests to the detriment of the public, even freezing the public out of the process altogether. Another word would be corporatocracy, but that doesn&#8217;t resonate with the media as well. I think you may referring to more, as you say, &#8220;classical&#8221; definitions, which is another way of saying &#8220;academic.&#8221; To say that &#8220;corporatism/corporatocracy&#8221; is equivalent to &#8220;capitalism&#8221; misses the point entirely. You can attempt to have capitalism with a level playing field, or without utter corruption of government and regulatory agencies. In fact, it&#8217;s not true capitalism unless everyone has an equal opportunity to compete. Small, local businesses also represent capitalism, but they have been getting the stuffing knocked out of them over the last few decades by the corporations standing on the high ground they have purchased at our expense. I think the author grasped this very important distinction accurately.</p>
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		<title>By: Marius</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173839</link>
		<dc:creator>Marius</dc:creator>
		<pubDate>Wed, 18 Mar 2009 03:36:02 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173839</guid>
		<description>@mrpinto 

Some of these technologies have been used to foster community, but we have to remember that most of these technologies came about for the purpose export-oriented and import-oriented industries. Globalist capitalism, which is more extensively seen and felt where I come from, has a different face when you come a small country where the currency is devalued by virtue of structural adjustments. Capitalism also has a different face when foreign companies come to our national soil to buy coffee from our farmers for $5 per ton. 

To a certain extent, the middle classes of industrial nations may be enjoying some of these developments. But a large portion of the world&#039;s population, including me and my countrymen are not. Where I come from, the average wage in the busiest cities are less than $4 a day. And we&#039;re talking about degree holders or even MA or MS students here. There&#039;s underemployment, and we have had an 11% unemployment rate for quite some time now.

Our OIL, in the Malampaya Oil Reef is not &quot;ours&quot;. 45% is owned by Chevron, another 45% goes to Shell and a meager 10% is owned by the state itself. Our oil tax is at 12%. How can you say that any sense of community has been formed? We have been DIVIDED because the middle classes want nothing to do with the rest of the poorer populations of the country. Our educational system is rotten to the core. Our state universities are being privatized mercilessly. Where&#039;s the community there? I think in these situations, the Internet, airplanes and trains cease to be sources of community.</description>
		<content:encoded><![CDATA[<p>@mrpinto </p>
<p>Some of these technologies have been used to foster community, but we have to remember that most of these technologies came about for the purpose export-oriented and import-oriented industries. Globalist capitalism, which is more extensively seen and felt where I come from, has a different face when you come a small country where the currency is devalued by virtue of structural adjustments. Capitalism also has a different face when foreign companies come to our national soil to buy coffee from our farmers for $5 per ton. </p>
<p>To a certain extent, the middle classes of industrial nations may be enjoying some of these developments. But a large portion of the world&#8217;s population, including me and my countrymen are not. Where I come from, the average wage in the busiest cities are less than $4 a day. And we&#8217;re talking about degree holders or even MA or MS students here. There&#8217;s underemployment, and we have had an 11% unemployment rate for quite some time now.</p>
<p>Our OIL, in the Malampaya Oil Reef is not &#8220;ours&#8221;. 45% is owned by Chevron, another 45% goes to Shell and a meager 10% is owned by the state itself. Our oil tax is at 12%. How can you say that any sense of community has been formed? We have been DIVIDED because the middle classes want nothing to do with the rest of the poorer populations of the country. Our educational system is rotten to the core. Our state universities are being privatized mercilessly. Where&#8217;s the community there? I think in these situations, the Internet, airplanes and trains cease to be sources of community.</p>
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		<title>By: Veltlina</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173834</link>
		<dc:creator>Veltlina</dc:creator>
		<pubDate>Tue, 17 Mar 2009 23:54:01 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173834</guid>
		<description>@Harbinger: Classical, authoritarian state corporatism was primarily used by fascism. Pretending that there are not differences in a society, introducing a top-down structure where people are forced to join organisations, and all in all it&#039;s been used as the legitimisation of dictatorships. But that&#039;s not primarily what the author is talking about.

So-called neo-corporatism is the way most modern western democracies are organised, OTOH, i.e. the recognition that there are different interests among the various actors of a society who in turn voluntarily(!!) - grassroots-based - form organisations like trade unions or employers associations and the like.

So I&#039;d still maintain that what R is referring to is essentially capitalism.

It&#039;s no variety of corporatism the way we define it in Europe that crashed, as far as I can see, it is good old capitalism that brought this about.</description>
		<content:encoded><![CDATA[<p>@Harbinger: Classical, authoritarian state corporatism was primarily used by fascism. Pretending that there are not differences in a society, introducing a top-down structure where people are forced to join organisations, and all in all it&#8217;s been used as the legitimisation of dictatorships. But that&#8217;s not primarily what the author is talking about.</p>
<p>So-called neo-corporatism is the way most modern western democracies are organised, OTOH, i.e. the recognition that there are different interests among the various actors of a society who in turn voluntarily(!!) &#8211; grassroots-based &#8211; form organisations like trade unions or employers associations and the like.</p>
<p>So I&#8217;d still maintain that what R is referring to is essentially capitalism.</p>
<p>It&#8217;s no variety of corporatism the way we define it in Europe that crashed, as far as I can see, it is good old capitalism that brought this about.</p>
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		<title>By: ILoveCorporations</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173831</link>
		<dc:creator>ILoveCorporations</dc:creator>
		<pubDate>Tue, 17 Mar 2009 18:41:28 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173831</guid>
		<description>I will serve
Corporations
even when I say I won&#039;t
I have a dream
I want a good life
2.5 kids and a country home

they&#039;re in control

http://www.thesixtyone.com/paintingtasters/song/Corporations/39612</description>
		<content:encoded><![CDATA[<p>I will serve<br />
Corporations<br />
even when I say I won&#8217;t<br />
I have a dream<br />
I want a good life<br />
2.5 kids and a country home</p>
<p>they&#8217;re in control</p>
<p><a href="http://www.thesixtyone.com/paintingtasters/song/Corporations/39612" rel="nofollow">http://www.thesixtyone.com/paintingtasters/song/Corporations/39612</a></p>
]]></content:encoded>
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		<title>By: ILoveCorporations</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173830</link>
		<dc:creator>ILoveCorporations</dc:creator>
		<pubDate>Tue, 17 Mar 2009 18:39:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173830</guid>
		<description>Corporations man.. corporations. They&#039;re at the center of everything.

http://www.thesixtyone.com/paintingtasters/song/Corporations/39612/</description>
		<content:encoded><![CDATA[<p>Corporations man.. corporations. They&#8217;re at the center of everything.</p>
<p><a href="http://www.thesixtyone.com/paintingtasters/song/Corporations/39612/" rel="nofollow">http://www.thesixtyone.com/paintingtasters/song/Corporations/39612/</a></p>
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		<title>By: mrpinto</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173828</link>
		<dc:creator>mrpinto</dc:creator>
		<pubDate>Tue, 17 Mar 2009 16:42:57 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173828</guid>
		<description>Why all the focus on local economy?  How is a man half a world away any less my brother than the man next door?

Trading goods, services and ideas fosters community, no matter the distance.

Also, cathedrals are neat, but give the devil his due: the corporatist system gave us planes, trains, automobiles, the computer, the internet, and a large portion of modern medicine.  Cathedrals aren&#039;t nearly so useful as that.

With any luck and the right nudging, the corporatist system can probably provide the sustainable energy solutions to power all that stuff without destroying the planet.

Not that I&#039;m defending corporations or the corporate-government alliances, but it&#039;s pretty hard to look at things like the internet and air travel and say that they haven&#039;t done anything to foster community.</description>
		<content:encoded><![CDATA[<p>Why all the focus on local economy?  How is a man half a world away any less my brother than the man next door?</p>
<p>Trading goods, services and ideas fosters community, no matter the distance.</p>
<p>Also, cathedrals are neat, but give the devil his due: the corporatist system gave us planes, trains, automobiles, the computer, the internet, and a large portion of modern medicine.  Cathedrals aren&#8217;t nearly so useful as that.</p>
<p>With any luck and the right nudging, the corporatist system can probably provide the sustainable energy solutions to power all that stuff without destroying the planet.</p>
<p>Not that I&#8217;m defending corporations or the corporate-government alliances, but it&#8217;s pretty hard to look at things like the internet and air travel and say that they haven&#8217;t done anything to foster community.</p>
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		<title>By: voxwoman</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173826</link>
		<dc:creator>voxwoman</dc:creator>
		<pubDate>Tue, 17 Mar 2009 15:12:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173826</guid>
		<description>This won&#039;t be a bloodless revolution. Not when millions are starving. All the land used for local farming around here (metro NYC) has been used to build homes. And in the middle ages, people lived hard and died young. It wasn&#039;t exactly easy for the lower classes. Your words make a lot of sense, but a change that radical will not come easy, nor will it come without a lot of pain.</description>
		<content:encoded><![CDATA[<p>This won&#8217;t be a bloodless revolution. Not when millions are starving. All the land used for local farming around here (metro NYC) has been used to build homes. And in the middle ages, people lived hard and died young. It wasn&#8217;t exactly easy for the lower classes. Your words make a lot of sense, but a change that radical will not come easy, nor will it come without a lot of pain.</p>
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		<title>By: Hiro Protagonist</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173825</link>
		<dc:creator>Hiro Protagonist</dc:creator>
		<pubDate>Tue, 17 Mar 2009 14:51:02 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173825</guid>
		<description>one of the main ideas here that I cannot accept is that saving and wealth accumulation is necessarily bad.  yes, corporatism is necessarily bad (see my comment to Veltlina below).  yes, a compulsory, centralized monopoly on currency is necessarily bad.  but savings is not necessarily bad.  I cannot see how implementing a currency that is designed to lose its value, to discourage &quot;hoarding&quot; (savings), is fundamentally any different from the current fractional reserve system.  competition currencies, however, would quickly vaporize any such inflationary currency.

@Veltlina:
corporatism is not an expression of capitalism.  capitalism is simply voluntary exchange, absent coercion.  corporatism implies coercion.  corporatism is a system of state-imposed barriers to voluntary exchange.  it necessitates taxation to fund regulatory bodies (which of course are vehicles for politicians/bureaucrats/parasites).</description>
		<content:encoded><![CDATA[<p>one of the main ideas here that I cannot accept is that saving and wealth accumulation is necessarily bad.  yes, corporatism is necessarily bad (see my comment to Veltlina below).  yes, a compulsory, centralized monopoly on currency is necessarily bad.  but savings is not necessarily bad.  I cannot see how implementing a currency that is designed to lose its value, to discourage &#8220;hoarding&#8221; (savings), is fundamentally any different from the current fractional reserve system.  competition currencies, however, would quickly vaporize any such inflationary currency.</p>
<p>@Veltlina:<br />
corporatism is not an expression of capitalism.  capitalism is simply voluntary exchange, absent coercion.  corporatism implies coercion.  corporatism is a system of state-imposed barriers to voluntary exchange.  it necessitates taxation to fund regulatory bodies (which of course are vehicles for politicians/bureaucrats/parasites).</p>
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		<title>By: Rich</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173822</link>
		<dc:creator>Rich</dc:creator>
		<pubDate>Tue, 17 Mar 2009 12:11:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173822</guid>
		<description>Excellent article. I don&#039;t think he is advocating communism, I just think he isn&#039;t advocating for a society where banks are the biggest earners.</description>
		<content:encoded><![CDATA[<p>Excellent article. I don&#8217;t think he is advocating communism, I just think he isn&#8217;t advocating for a society where banks are the biggest earners.</p>
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		<title>By: Marius</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173821</link>
		<dc:creator>Marius</dc:creator>
		<pubDate>Tue, 17 Mar 2009 10:22:50 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173821</guid>
		<description>Wonderful analysis there, simply superb. It&#039;s nice to see people analyzing these world-historic events for what they are. It seems that old Gyorgy Lukacs and his grandfather, ol&#039; Karl Marx were still right. For the longest time, intellectuals have been too complacent because the system was able to serve a few selfish purposes. But now that it&#039;s unraveling, it&#039;s finally time to test our theories against the grain of the dialectical progression of these false economies and unsustainable corporate practices.</description>
		<content:encoded><![CDATA[<p>Wonderful analysis there, simply superb. It&#8217;s nice to see people analyzing these world-historic events for what they are. It seems that old Gyorgy Lukacs and his grandfather, ol&#8217; Karl Marx were still right. For the longest time, intellectuals have been too complacent because the system was able to serve a few selfish purposes. But now that it&#8217;s unraveling, it&#8217;s finally time to test our theories against the grain of the dialectical progression of these false economies and unsustainable corporate practices.</p>
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		<title>By: Veltlina</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173819</link>
		<dc:creator>Veltlina</dc:creator>
		<pubDate>Tue, 17 Mar 2009 08:43:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173819</guid>
		<description>I am a little baffled that Rushkoff uses &quot;corporatism&quot; instead of &quot;capitalism&quot; - why? Squeamish? Where would there be a difference? The need for constant growth is the essence of capitalist thinking, after all. Corporatism is an expression of capitalism and not the other way round, I would have thought.

Secondly, a lot of what R. points out is what Karl Marx already analysed 150 years ago, so I can&#039;t see the novelty of his approach. Except that his take on pre-capitalist times is too rosy IMO. What about feudalism and serfdom?

And thirdly, I&#039;d like to hear where he found evidence that women were surprisingly tall in the LATE middle ages, since I&#039;ve only heard about Northern Europeans, including the British, being tall in the EARLY middle ages (900-1100 AD) and shrinking afterwards. See http://tinyurl.com/c42zbr</description>
		<content:encoded><![CDATA[<p>I am a little baffled that Rushkoff uses &#8220;corporatism&#8221; instead of &#8220;capitalism&#8221; &#8211; why? Squeamish? Where would there be a difference? The need for constant growth is the essence of capitalist thinking, after all. Corporatism is an expression of capitalism and not the other way round, I would have thought.</p>
<p>Secondly, a lot of what R. points out is what Karl Marx already analysed 150 years ago, so I can&#8217;t see the novelty of his approach. Except that his take on pre-capitalist times is too rosy IMO. What about feudalism and serfdom?</p>
<p>And thirdly, I&#8217;d like to hear where he found evidence that women were surprisingly tall in the LATE middle ages, since I&#8217;ve only heard about Northern Europeans, including the British, being tall in the EARLY middle ages (900-1100 AD) and shrinking afterwards. See <a href="http://tinyurl.com/c42zbr" rel="nofollow">http://tinyurl.com/c42zbr</a></p>
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		<title>By: Mike B</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173812</link>
		<dc:creator>Mike B</dc:creator>
		<pubDate>Tue, 17 Mar 2009 01:37:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173812</guid>
		<description>My historian girlfriend has corrected me, and Rushkoff was right. Cathedrals were built for tourists, by whatever name. This is a lucid and scary-accurate article, don&#039;t let my nitpicking sidetrack this important conversation.  Looking forward to the book!</description>
		<content:encoded><![CDATA[<p>My historian girlfriend has corrected me, and Rushkoff was right. Cathedrals were built for tourists, by whatever name. This is a lucid and scary-accurate article, don&#8217;t let my nitpicking sidetrack this important conversation.  Looking forward to the book!</p>
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		<title>By: Glossolalia Black</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173811</link>
		<dc:creator>Glossolalia Black</dc:creator>
		<pubDate>Tue, 17 Mar 2009 01:01:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173811</guid>
		<description>I&#039;d really like to believe that people are naturally more in touch with their local microeconomies, and are as baffled as I am with The Big Sham, and consequently want nothing to do with it.  But there&#039;s also the big urge for Status Quo, and this, coupled with the aforementioned bafflement, can keep the same old same old entrenched.</description>
		<content:encoded><![CDATA[<p>I&#8217;d really like to believe that people are naturally more in touch with their local microeconomies, and are as baffled as I am with The Big Sham, and consequently want nothing to do with it.  But there&#8217;s also the big urge for Status Quo, and this, coupled with the aforementioned bafflement, can keep the same old same old entrenched.</p>
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		<title>By: nekospecial</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173807</link>
		<dc:creator>nekospecial</dc:creator>
		<pubDate>Mon, 16 Mar 2009 21:05:14 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173807</guid>
		<description>Nobody wants to stand in line and match, anyway. &quot;A revolution without dancing....&quot;

zeitguy, obviously you need to get to know your neighbors a bit more. Try having a block meeting every month, or post bulletin boards on telephone poles. Get closer to your community, and you&#039;ll find that all the answers to your questions are right in front of you.</description>
		<content:encoded><![CDATA[<p>Nobody wants to stand in line and match, anyway. &#8220;A revolution without dancing&#8230;.&#8221;</p>
<p>zeitguy, obviously you need to get to know your neighbors a bit more. Try having a block meeting every month, or post bulletin boards on telephone poles. Get closer to your community, and you&#8217;ll find that all the answers to your questions are right in front of you.</p>
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		<title>By: zeitguy</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173806</link>
		<dc:creator>zeitguy</dc:creator>
		<pubDate>Mon, 16 Mar 2009 20:59:19 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173806</guid>
		<description>It breaks my heart that this lucid exposition is falling on deaf ears.  

In the mid sixties as I was going to the U, I began to wake up to this situation, and wanted to act on it with a group of smart, capable, highly motivated peers.  While there was some success in bringing this to the attention of others during the seventies, the people who understood this became marginalized, and bought into their own marginalization.

By the boom cash years of the Reagan era, the will to create an alternative narrative about corporations and cultural necessity was pretty broken.

Rushkoff has done a good job in this essay of resurrecting the insights of the radical social critics of the sixties.  But the fires are out.  The outrage is diffused among too many virtual spokesmodels, while the option of action is not addressed.

Every one sits on their hands, until they wave them for a while, then go back to sitting on them again.

How in hell is anything going to change?

Without leadership, there are no options The John Stewarts and Doug Rushkoff&#039;s of the world can make us want to tear our eyes out for the perfidy we have witnessed. But they cannot get us to stand in line, and march, and seize our lives from the jackals that have tried to brand them and sell them back to us.

Who can get us to stand in line, and move heaven and earth back to their proper order again?</description>
		<content:encoded><![CDATA[<p>It breaks my heart that this lucid exposition is falling on deaf ears.  </p>
<p>In the mid sixties as I was going to the U, I began to wake up to this situation, and wanted to act on it with a group of smart, capable, highly motivated peers.  While there was some success in bringing this to the attention of others during the seventies, the people who understood this became marginalized, and bought into their own marginalization.</p>
<p>By the boom cash years of the Reagan era, the will to create an alternative narrative about corporations and cultural necessity was pretty broken.</p>
<p>Rushkoff has done a good job in this essay of resurrecting the insights of the radical social critics of the sixties.  But the fires are out.  The outrage is diffused among too many virtual spokesmodels, while the option of action is not addressed.</p>
<p>Every one sits on their hands, until they wave them for a while, then go back to sitting on them again.</p>
<p>How in hell is anything going to change?</p>
<p>Without leadership, there are no options The John Stewarts and Doug Rushkoff&#8217;s of the world can make us want to tear our eyes out for the perfidy we have witnessed. But they cannot get us to stand in line, and march, and seize our lives from the jackals that have tried to brand them and sell them back to us.</p>
<p>Who can get us to stand in line, and move heaven and earth back to their proper order again?</p>
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		<title>By: foods</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173802</link>
		<dc:creator>foods</dc:creator>
		<pubDate>Mon, 16 Mar 2009 20:00:41 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173802</guid>
		<description>if only there were enough CSAs around for everyone to &#039;finally&#039; join! i don&#039;t know about where you guys live, but around here there are some prohibitively long waiting lists...</description>
		<content:encoded><![CDATA[<p>if only there were enough CSAs around for everyone to &#8216;finally&#8217; join! i don&#8217;t know about where you guys live, but around here there are some prohibitively long waiting lists&#8230;</p>
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		<title>By: nekospecial</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173801</link>
		<dc:creator>nekospecial</dc:creator>
		<pubDate>Mon, 16 Mar 2009 19:55:42 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173801</guid>
		<description>Thank you, for putting into words the very things I&#039;ve been thinking about lately but couldn&#039;t properly elaborate.

Coming from Seattle, I know all about the anti-corporate reality tunnel. And I&#039;ve found that it&#039;s a better one to live in! There were some people who thought the W.T.O. protest was a big party -- I was mainly confused, and awed at the time. But now I can consider myself one of those people :)

May the dream of Cyberia never die!</description>
		<content:encoded><![CDATA[<p>Thank you, for putting into words the very things I&#8217;ve been thinking about lately but couldn&#8217;t properly elaborate.</p>
<p>Coming from Seattle, I know all about the anti-corporate reality tunnel. And I&#8217;ve found that it&#8217;s a better one to live in! There were some people who thought the W.T.O. protest was a big party &#8212; I was mainly confused, and awed at the time. But now I can consider myself one of those people <img src='http://www.arthurmag.com/magpie/wp-includes/images/smilies/icon_smile.gif' alt=':)' class='wp-smiley' /> </p>
<p>May the dream of Cyberia never die!</p>
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		<title>By: LET IT DIE: Rushkoff on the economy</title>
		<link>http://www.arthurmag.com/2009/03/16/let-it-die-rushkoff-on-the-economy/comment-page-1/#comment-173800</link>
		<dc:creator>LET IT DIE: Rushkoff on the economy</dc:creator>
		<pubDate>Mon, 16 Mar 2009 18:48:41 +0000</pubDate>
		<guid isPermaLink="false">http://www.arthurmag.com/?p=5678#comment-173800</guid>
		<description>[...] LET IT DIE: Rushkoff on the economy: &#8220;With any luck, the economy will never recover.&#8221; [...]</description>
		<content:encoded><![CDATA[<p>[...] LET IT DIE: Rushkoff on the economy: &#8220;With any luck, the economy will never recover.&#8221; [...]</p>
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