Economics Explained

Black Market Economics - What Drives the Underground Economy?

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This is Vatican city. The smallest widely recognized sovereign state in the world. 

This tiny nation exists entirely within these walls, but its influence is felt the world over.

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There are all manner of factors that make poor countries poor and rich countries rich. Many of these factors we have explored in depth when we have looked at economies like the democratic republic of the Congo all the way up to places like Switzerland and Norway.  Political Stability, industry, natural resource wealth are all incredibly important variables but there is something extra here that just doesn’t seem to make sense.

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The wealthiest among us today live a life unparalleled by any other human throughout history. The greatest Kings and emperors could only dream of the life afforded to today’s billionaires. It doesn’t end there, even mere multi-millionaires are living through a time where they have access to limitless information, unhindered mobility, and personal comforts. But this is all taking place at a time where a swelling population of people is struggling to make ends meet.

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The justification was that this was necessary to restore balance to a universe that was overpopulated and putting too much of a drain on resources.  Now instantly hazing half of the universe, is a bit extreme, but…  When the same world can’t go a week without some news article telling us that global climate catastrophe is inevitable, natural resources are running dry, or that if everybody lived like the average American we would need 4 Earths to sustain them it starts to sound like we should hear this Thanos guy out.

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Our world is home to over 190 countries using 180 currencies to trade, invest, and collect taxes. The global economy is complex at the best of times and the foreign exchange, or forex market only looks to add an additional layer of confusion and complexity. So this begs the question could the world adopt a single universal currency?

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People are told from the time they get their first job to save money. Save for a car, have an emergency fund, send your kids to college, a house deposit, oh and not to mention retirement (if that is still a thing). There are a million things to save for and on an individual level, it is almost always a good idea. So why is it then, that governments and businesses from around the world are so terrified of people saving money?

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The 2008 Global Financial crisis was kicked off by major structural issues in the global banking system and exacerbated by record levels of household debt. Today the world is on the brink of yet another major financial downturn, and yet again household debts are at record levels.

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Australia is a major world economy, with highly developed industries and close to 25 million of the wealthiest citizens in the world.  But Australia is harboring a deep, dark secret ... it is an American company!

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In two short decades, Amazon has grown from a modest online bookstore to an international conglomerate. A conglomerate that seems hellbent on moving into every growing industry out there. Amazon will only be the second company this channel has ever explored but it is extremely important to understand for a few reasons. most curiously, why amazon is pushing for reform in key areas that wouldn't really be expected...

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