Summary: Money creation is not wealth creation. Money created must be backed up by new, underlying creation of wealth. Money is a claim on goods. That’s why printing money on a desert island won’t work! Where does the Fed’s $16 trillion fit into all this? The effect of rising interest rates on real estate: fatal. The unemployment statistics are not at all the “wonderful news” described by the mainstream press. The U-6 unemployment statistic, in fact, soared from 13.8% in May to 14.3% in June. Manufacturing jobs posted their fourth consecutive monthly drop in June. Corporate earnings second-quarter projections are not bullish. Huge demand for (untrained) English teachers abroad
