The American Underground Economy Is $2 Trillion and Growing

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$2 trillion is a lot of money, even in this day of QE and billion dollar bailouts. The underground economy is the part of the economy which is alive. Some would argue that the “underground economy” is actually the real economy. The official “real economy” appears to be a blizzard of mirrored glass and fake numbers these days.

(From CNBC)

“We’ve always had people who make income without recording it, so it’s not really new,” said Peter McHenry, an assistant professor of economics at William & Mary College. “But the fact that more and more people are doing it shows how bad the job picture is,” he added.

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