The New US Underground Economy

[Wooster]

Here
and also per Jim Cramer

Cramer: When you’re 600 days past foreclosure, you should be thinking squatters, and those are people who are not paying their mortgage so they’re shopping. And I know that sounds odd, but listen,we’ve got a squatter economy and we have got an off-the-books economy and those are the ones generating the better numbers.
Other CNBC anchor: By off-the-books, you mean people working jobs–
Cramer: Look, you know what, the employer wants to avoid all the Obama regulations, okay, or the previous ones, and the employee wants cash. Look, we’re developing an economy that is an underground economy, it’s never been the way America has done [this]. It’s the way business is reacting, it’s the way people who need jobs are reacting. Off-the-books and squatters are income producers when it comes to retail.

Very strange occurence for a supposedly "free market" economy. This is what life is like in Greece , a nice corrupt socialist haven.

Essentially people are no longer participating in the official taxed economy. While 100k+ entered found jobs last month, another 300K+ left the workforce. Labor padrticipation rate is now only 64%.

In the least, it decreases tax revenue as people pay in cash and don't report taxes. Thus, further worsen the debt.