Empowerment and Helplessness

With the combination of economic downturn, financial bailouts, and rampant bankruptcies one begins to wonder, "What can individual communities do to regain control of their own destiny?"

As more and more cities, towns, and neighborhoods struggle with a sense of helplessness, are their any innovative tactics worth pursuing that may allow these places better control of their own futures? What can be done locally to ensure prosperity (or even survival) for these respective areas? More importantly, what actions can be made to empower citizens to be involved? Or are we simply stranded on a broken escalator... waiting for someone to come fix it? Share your ideas.

Hussman Update

Economist John Hussman recently published a great piece on the financial crisis. It is well worth your time:

http://www.hussmanfunds.com/wmc/wmc090330.htm

Of note: notice the graphs at the bottom of the essay, illustrating the coming resets of Alt-A and Option ARM mortgages; we are not out of this yet.