Summary:
Corruption has led to the proliferation of the underground economy, which is currently estimated to be $8.1 billion annually. This underscores the urgent need for us to be aware of these issues and act.
The problem is that we must address Corruption in government simultaneously. No one seems to have the will, as approximately one-half of the U.S. population receives some form of government transfer payments, and they assume that, because they are beneficiaries, the system should be left alone.
Overview:
Armstrong Economics, a reputable economist, analyst, and consultant to governments worldwide, published a brilliant short overview of Los Angeles and its Marxist, redistributionist policies that are moving the county toward becoming a third-world country.
California is the world’s fourth-largest economy. The U.S.A., China, and Germany are the top three.
Corruption begets Corruption:
The underground economy is thriving. This hidden economy counterbalances government Corruption, serving as a check on government power. The underground activities included work involving unreported income, undeclared workers, cash transactions, organized crime, gang enterprises, and related activities.
The underground economy accounts for 12.5% of global GDP, which is $104 trillion.
Failure to address homelessness, crumbling infrastructure, crime, and street potholes everywhere makes people afraid to visit Los Angeles, once the world’s capital of visitors. Additionally, major manufactured disasters seem endless because the government is more focused on expanding its size than addressing the state’s problems.