Article

2013-04-26 Economy

$2 Trillion Underground Economy May Be Recovery's Savior

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Posted by Fred 2013-04-26 00:00|| || Front Page|| [4 views ] Top

#1 > with no income reported and no taxes paid

Who'd have guessed that freed from comparative advantage damaging taxes on incomes people would start to generate wealth?!

I'm shocked. Shouldn't they just photocopy some money or something? I thought that's the way to create wealth.

Posted by Bright Pebbles 2013-04-26 06:38|| 2013-04-26 06:38|| Front Page Top

#2 ..well at the rate Bernanke is inflating the currency, it won't be long that it'll be cheaper for the Treasury to sell watermarked paper at Staples/Office Max for you to indeed print your own money at home.

Posted by Procopius2k 2013-04-26 09:01|| 2013-04-26 09:01|| Front Page Top

#3 Know/knew a guy who was pretty darned proud of his paid in cash job, all expenses paid apartment, no bank account, and one piece of mail a month.

Posted by swksvolFF 2013-04-26 09:04|| 2013-04-26 09:04|| Front Page Top

#4 We are becoming more and more like Greece everyday.

Posted by DarthVader 2013-04-26 12:44|| 2013-04-26 12:44|| Front Page Top

#5 Just like the underground economy has saved, oh, Peru for example?

Posted by Iblis 2013-04-26 13:52|| 2013-04-26 13:52|| Front Page Top

#6 -- There is no recovery.
-- There's always been an underground economy. I once got a 30% discount on a motel room simply for paying cash up front.
-- at the rate Bernanke is inflating the currency This Great Depression II we are in involves massive deflation. Bernanke is only keeping it from being even worse. Even before the events of 2007, he had gone on the record saying he would do that even before 2007.
--- Don't conflate higher prices with inflation.
--- Massive government spending and debt-buying is also making things look better than they are. If the gov't simply cut back its spending to the level of 2007, people would be hurting like they did in the early 1930's.

Posted by Anguper Hupomosing9418 2013-04-26 13:59|| 2013-04-26 13:59|| Front Page Top

#7 @Anguper Hupomosing9418

It's only safe to Print AFTER bankruptcy. printing in expectation of bankruptcy merely maintains the malinvestment in the economy.

Until that clears there will be no recovery.

It's like taking heroin to stave off withdrawal pain, it will work, but you'll still be a junkie.

Posted by Bright Pebbles 2013-04-26 20:01|| 2013-04-26 20:01|| Front Page Top

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