Our bad global economy has many different causes, but offshore tax dodging is definitely one of them. When people allow foreign banks to keep their money tax free, it is less money for our government to tax, which hurts our economy because the money remains dormant and not spend to help our economy!
The cause of economic distress isn't just one reason, but hundreds of reasons. Offshore tax dodging is one of those reasons. Companies are able to pour billions of dollars in offshore accounts in efforts to avoid taxes that they are legally supposed to pay. This creates less money for the government which in turn means they cut other programs. It isn't the main reason, but Tax Dodging is one of the many.
Tax dodging by corporations is one of the many reasons the United States government isn't getting everything it's due from the richest people in the country. Apple and Google have billions and billions in offshore accounts. So do many other countries. They are not paying taxes on this money and they are not infusing the economy with this money either. So, yes it is creating economic problems for the country.
At this time I believe that the offshore tax dodging has almost nothing to do with why we are in our current economic state. That can be pointed at our country's constant need to spend and 'keep up' with all the latest trends. I am in real estate and I am seeing it again already. Prices on homes are increasing and the buyers are overbidding trying to secure a home. This is driving the prices up again. It's as if we, as a population, never learn.