How individuals and communities can profit from local investingIn the wake of the financial crisis, investors are faced with a stark choice: entrust their hard-earned dollars to the Wall Street casino, or settle for anemic interest rates on savings, bonds, and CDs. Meanwhile, small businesses are being starved for the credit and capital they need to grow. There's got to be a better way. In Locavesting: The Revolution in Local Investing and How to Profit from It, Amy Cortese takes us inside the local investing movement, where solutions to some of the nation's most pressing problems are taking shape. The idea is that, by investing in local businesses, rather than faceless conglomerates, investors can earn profits while building healthy, self-reliant communities.
With confidence in Wall Street and the government badly shaken, Americans are looking for alternatives. Local investing offers a way to rebuild our nest eggs, communities, and, just perhaps, our country.
©2011 Amy Cortese (P)2012 Audible, Inc.
Local businesses/enterprises are the engines of a real healthy economy, yet this book describes how we are starving our local businesses and unwittingly financing large multinational corporations who are pretty much dedicated to moving jobs overseas, siphoning profits to far-off places, and out-competing our local enterprises. The Securities and Exchange Commission (SEC), founded to protect us, has become a barrier to local investing (in order to “protect” small investors).
This book describes some steps we can take to reverse this, and some longer-term initiatives to enhance local investing, such as the re-establishment of local stock exchanges (there were such things once), crowd-funding, and direct public offerings.
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