When we say "people worry" about inflation, it's mainly bondholders that worry. The labor force benefitted from the inflation of the '50s, '60s and '70s.

The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of spending their income on goods and services. So markets shrink, sales and profits fall, and the stock market turns down.

You'll have to have the governments sell off all of their public domains; sell off their railroads, sell off their public land. You'll essentially have to introduce neo-feudalism. You'll have to roll the clock of history back a thousand years, and reduce the European population to debt slavery. It's as simple a solution as the Eurozone has imposed on Greece. And it's a solution that the leaders and the banks are urging for responsible economists to promote for the population at large.

Everyone from Adam Smith, John Stewart Mill, they were all reforms. What they wanted to reform was getting rid of this parasitic landlord class that had conquered England in 1066 and it's the heirs of the military warlords who ended up taking the land and making everybody pay them and all of their descendants just for having been conquered. You can see the carry-over of this today. The rent that people have to pay, the money they have to pay the banks instead of having a public option. That's the price they still have to pay for being conquered.

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.

The problems of 2008 were never cured. The Federal Reserve's solution to the crisis was to lend the economy enough money to borrow its way out of debt. It thought that if it could subsidize banks lending homeowners enough money to buy houses from people who are defaulting, then the bank balance sheets would end up okay.

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