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Americans Will Need “Black Markets” To Survive

Brandon Smith, 2 March 2012


If the events in EU nations such as Greece, Spain, and Italy are any indication, the U.S., with its massive debt to GDP ratio (real debt includes entitlement programs), is looking at one of two possible scenarios:  default, austerity measures, and high taxes, or, hyperinflation, and then default, austerity measures, and high taxes.

. . . . . .

Black markets give the citizenry a means to protest the taxation of a government that no longer represents them.  In a country stricken with austerity, these networks allow the public to thrive without having to pay for the mistakes or misdeeds of political officials and corporate swindlers.

Read full article.

See Also:

If This Is Such a Strong Economy, Why Does This Chart Look Recessionary?

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