One Part Of The Economy Is Booming: The Underground/Cash-Only Sector
by Charles Hugh-Smith of OfTwoMinds blog,
ZeroHedge.com
10/09/2015
If you make it so burdensome to operate a legit business, then you’re basically giving people without big lines of credit and capital few choices but to work in the cash-only underground economy.
It won’t be much of a surprise to those living outside the Washington D.C. beltway and the Unicorn Herd of start-ups selling for millions of dollars that the underground cash-only economy is one of the few bright spots in the U.S. economy. Correspondent B.U. recently submitted this report from rural America in response to my entry What Happens to our Economy as Millions of People Lose the Habits of Hard Work?, which mentioned those in the cash-only sector as not showing up in official employment statistics:
It is very common for folks where I live to get some form of subsidy be it SSI or WIC or whatever. Then they maintain their lifestyle by:
— Selling items for cash on Craigslist:
This is mostly sub $1500 cars, Building materials or scrap metal.
I know quite a few folks that are doing very well in this line of business.
–Selling at various ‘trades-days’:
A friend mine clears ~$100K just trading in gold, firearms and ammunition.
Others I know trade cattle and livestock.
The Rest…HERE
