Often when one reads the Federal Reserves Beige Book economic snap shots, outlook and regional predictions one would wonder do they simply dismiss the underground economy of illegal aliens small businesses, cash economy or illegal drug trade? The reason I ask is as I travel around the nation and have been to every city over 10,000 in the country, I see things that no one is addressing, things which do effect life, economics and the flow of cash or federal reserve notes. In God we Trust? Well, surely, yet with regards to the underground economy flows they do appear to be alive and well. Much of the cash which flows around in circles does stay in the local economy and is used to purchase things even if it is a illegal flow in that the Federal Government did not get a chance to get a piece of it in income tax. One might conclude that the underground economy is illegal and therefore should not be counted. Yet if you have leaky faucet in an upstairs bedroom, surely you want to make sure you know where that water is going. How much that leaky faucet is costing you and what it will take to get all of it fixed. My point is that dismissing the reality and putting on blind folders is a good way to put garbage into your nice report and get garbage and bad data out. So please be thinking here and even if your report does not wish to address the issues, shouldnt it at least be a foot note so the public knows you guys are not stupid? Think on this. |
