Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the Eurozone.

Since 2008 you've had the largest bond market rally in history, as the Federal Reserve flooded the economy with quantitative easing to drive down interest rates. Driving down the interest rates creates a boom in the stock market, and also the real estate market. The resulting capital gains not treated as income.

People tend to think that paying a debt is like going out and buying a car, buying more food or buying more clothes. But it really isn't. When you pay a debt to the bank, the banks use this money to lend out to somebody else or to yourself. The interest charges to carry this debt go up and up as debt grows.

You have the economic vocabulary turning into vocabulary of deception.

If the economy is growing, people want to employ more workers. If you hire more labor, wages go up.

If you increase living standards, you make labor more productive. This is why Asia today is becoming more productive than the United States.

Actually, high housing prices don't help the economy. They raise the cost of living.