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News ::
2/2: Speak-Out the Recession in Mass.
08 Feb 2002
Modified: 12 Mar 2002
As activists gathered in New York City to protest the World Economic Forum, people gathered at Faneuil Hall to speak about the impact corporate globalization and the recession were having in Massachusetts. The unifying theme of all the testimonies is the eroding conditions of life for working people.
Speak Out on the Recession in Massachusetts
by Matthew Williams

02/02/02; Boston, MA--As activists gathered in New York City to protest the World Economic Forum, people gathered at Faneuil Hall to speak about the impact corporate globalization and the recession were having in Massachusetts. A number of working people told moving stories their struggles to survive in the face of lay-offs and homelessness. As Elaine Bernard, Director of the Harvard Trade Union Program, said, "These people are the experts because they are the public." A panel of prominent community activists and social thinkers then commented on their testimony, putting it in the bigger picture. As Juliet Schor, a professor of sociology at Boston College, said, "The unifying theme of all these testimonies is the eroding conditions of life for working people."

The working people who spoke gave a human face to the various grim statistics that we can list about the global economy. Two million people around the world have to live on less than $2.00 a day. GE-worker Pete Capano spoke of what such poverty actually looks like. As part of a labor delegation, he saw the horrifying living conditions that the Mexican maquilladora workers have to live in--shacks for houses, their children with no place to play but in the garbage. Social service workers spoke of having to lay off staff and roll back services as their budgets were cut. Ken Ramsey, a welfare worker in the state Department of Transitional Assistance, said that the case loads were so high--256 families or more per worker--that they could only devote 32 minutes per month per family receiving food stamps. And as conditions have gotten worse for working people, the rich have gotten richer--the top 1% of the population now controls over 50% of the countryís financial assets. Christopher Atwood, a flight attendant, and Gary Nilsson, a worker at Lucent Technologies, spoke of corporate executives making out like bandits while they laid massive numbers of workers off.

Sharon McCollum, a Board member of the Massachusetts Nursesí Association, said, "Current economic policies are tearing apart the fabric of our societyís health, educational and social safety nets. There are large numbers of people who will suffer greatly if we continue in the current way."

People clearly knew who to point the finger of blame at. They repeatedly attacked the corporate executives and the politicians who catered to them. To loud applause, community organizer and Boston City Councilor Chuck Turner said, "Who are the real terrorists who threaten the people of this country? At the top of my list is the economic oligarchy who use their power to oppress workers. And they couldnít do it if the Republicrats didnít pass the laws that make it possible."

Greetings were sent to the speak-out by John Sweeney, president of the AFL-CIO, from the New York City protests against the World Economic Forum--a global gathering of corporate and national "leaders", charting where globalization will take all of us. Greetings were also sent from the World Social Forum in Porto Allegre, Brazil where grassroots activists from around the world are gathering to develop visions of alternatives to corporate globalization. Their motto is, "Another World is Possible."

Bernard said that in envisioning this new world, we need to ask, "What type of community are we and what type of community do we want to be? What do we desire for ourselves and what do we demand for all? Not how can we serve the economy, but can we make the economy work for our communities?"

For more information on the organizers of the speak-out, Massachusetts Jobs with Justice, see For more information on the protests against the WEF, see the New York City Independent Media Center,
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Time-Energy Accounting (TEA) Currency
08 Feb 2002
It's easy to make a full-time job talking about endless symptoms. In fact, the more problems that are created, the more jobs there will be! Especially for lawyers, doctors, soldiers, politicians and "activists".

If we continue on this course, 99.9% of humanity will have jobs in Wackenhut prisons instead of McDonalds or Fidelity. The very "wealthiest" will live in biodomes.

Or you can create solutions to basic causes of the symptoms, such as "our" dysfunctional money system.

Here's one solution, and there are many other democratic and ecological monetary systems being implemented throughout the world.

Time-Energy Accounting (TEA) Currency:

The function of the time-energy accounting (TEA) system,
100% backed by human time and renewable energy, is to:

1. Administer a lawful citizens' currency.

2. Strengthen the liberties and responsibilities of
individual citizens and local communities.

3. Minimize the centralization of power.

4. Balance competition and cooperation in the marketplace.

5. Minimize public and private bureaucracy.

6. Maximize efficient and equitable utilization of
natural resources.

7. Eliminate the need for personal income tax.

8. Minimize the need for any taxation.

9. Minimize corporate-government racketeering.

10. Stabilize the money supply and price level.

11. Restore full-reserve banking.

12. Remove the primary cause of economic inflation,
deflation, recessions, depressions, warfare and waste
of resources.

13. Enhance life, liberty and tranquility for all.

The time-energy accounting (TEA) network issues:

1. Citizens dividends backed by human lifetime
($1 = one hour = $730 per month) plus

2. Energy dividends backed by harvested renewable energy
($1 = one kilowatt-hour).

Each time-energy dollar is valid for one year from the
month of issuance, then "self-redeems" or "extinguishes"
itself like an expiring coupon.

The sooner participants circulate or invest each
time-energy dollar, the more value the dollar has, since
it represents time-energy value for only one year (demurrage).

Savings are channeled to useful investments in renewable
energy infrastructure rather than paper money, precious
metals, uranium, oil or other "barren" (non-renewable)

Renewable energy investments produce real dividends
(not interest) in the universal metric of kilowatt-hours
measured by ordinary energy meters.

Human lifetime is itself a natural dividend in the
universal metric of hours measured by ordinary clocks
(unless you endorse slavery).

Participants are issued citizens dividends once they are
16 or over so that parents will not be encouraged to
over-populate for money.

Who can reasonably deny that our lifetime is our most
valuable asset?

Who can reasonably deny that benign renewable energy
is the foundation of a sustainable civilization?

Among other things, renewable energy can desalinate
our oceans to produce abundant fresh water.

The issuing of time-energy dollars is performed by
elected local treasurers and their staff.

No electronic or other non-manual vote tabulation is

Confederated / cooperative local treasuries co-audit
each other on a randomly selected basis every three months.

Time + Energy = Wealth.

Simplicity is the ultimate sophistication.

If you'd like to understand the hocus-pocus of money
creation, here are plenty of related resources:

Buckminster Fuller's macroeconomic Cosmic Costing is
particularly illuminating:
See also:
Get Smart
28 Feb 2002
TEA: Time + Energy = Wealth.

Take it or leave it.

Humanity has the OPTION to succeed....
See also:
Beyond Academic Chatter
12 Mar 2002
It's great to see some communities, like Saint Louis, are using their IMC as an economic tool:
See also: