Green Options

Where Did All of the Money Go?

Ed Schultz interviews Florida Rep. Alan Grayson about Congress finally demanding more transparency from the Federal Reserve, and auditing their massive secret bank bailouts. The recently passed legislation will now allow the Government Accountability Office to independently audit the Fed, and their nefarious Wall Street deals.  Alan Grayson and

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Millions of Americans are declaring financial sustainability, even if they don’t exactly call it that. After all, we can’t borrow our way out of debt.

We’re paying down or paying off credit cards. We’re getting rid of our mortgage or putting an extra payment toward the principal balance (which has huge cost savings advantages). Or we’re practicing other frugality rules. According to data from the Federal Reserve, the amount Americans owe on consumer loans and credit cards plummeted $21.6 billion in July of 2009 – the largest monthly drop in consumer debt since the Federal Reserve started to track it in 1943. The “cash for clunkers” will, no doubt, alter the outcomes for August and September, but the trend continues to be less appetite for debt, not more.

People are working to get the bankers out of our lives, demanding that we become someone other than a “consumer.” So while the Federal government continues to re-affirm their “wise” decisions to bailout bankers and big finance, Americans are choosing to fire their credit card companies and break their “death pledge” (aka mortgage) by paying it off early. Of course, there are also many Americans who are in so far over their heads that unfortunately, personal bankruptcy and home foreclosure are the only remedy.

I am, however, focusing on those who thrive in abundance, simplicity and sustainability when it comes to community, lifestyle and, yes, financial intelligence. As my wife and I write about in ECOpreneuring, you cannot have ecological sustainability without a large degree of social and economic equity. The ECOnomy is not about “free trade” but fair trade; it’s about commerce that restores the planet, not destroys it or exploits people.

You can join these financial freedom-seekers too, by practicing financial sustainability. As most of us intuitively recognize, the best things in life are free (or close to it).

In a stark contrast with how construction used to be thought of, the green building movement has been a shift away from the traditional concerns about money and time. The betterment of our planet, as it turns out, is quickly becoming a bigger priority. Since March of this year, the Leadership in Energy and Environmental Design (LEED) program has seen around 20,852 new LEED registered and certified projects.

Most of this can be attributed to the fact that builders view green buildings as more economical in the long run, and recent incentives on the part of the government have added an extra encouragement.  But while these positives have been talked about pretty often, there are some risks associated with going green that still leave many builders wary.

[Creative Commons photo by Josh Hallett]

The Metropolitan Atlanta Rapid Transit Authority (MARTA) is $60 million in the hole - double their expected revenue shortfall for 2008. Administrators are talking about raising fares and reducing consumer services to help the transit system cope with the losses.