Either you can save the economy, or you can save the One Percent from losing a single penny. — Michael Hudson Copy Share Image
If the economy is growing, people want to employ more workers. If you hire more labor, wages go up. — Michael Hudson Copy Share Image
You have the economic vocabulary turning into vocabulary of deception. — Michael Hudson Copy Share Image
Nothing could be better for the economy than to get rid of fracking. — Michael Hudson Copy Share Image
The economy is being run primarily by the banks for their own interest. — Michael Hudson Copy Share Image
I think the less fracking there is, the better it is for the economy and society. — Michael Hudson Copy Share Image
Canada is a malstructured. You could almost call it a failed economy, except that its natural resources are so rich that everybody… — Michael Hudson Copy Share Image
More and more money is being extracted from of the production and consumption economy to pay the FIRE sector. That's what causes… — Michael Hudson Copy Share Image
You're having government spending on the economy being cut almost everywhere. That means that the only source of spending for growth has… — Michael Hudson Copy Share Image
Basically, unless you're willing to write down debts and save the economy, you're going to have deflation and a steady drain in… — Michael Hudson Copy Share Image
Economists often define their discipline as "the allocation of scarce resources among competing ends." But when resources or money really become scarce,… — Michael Hudson Copy Share Image
Trump's junk economics is the illusion that if we cut the taxes on the wealthiest brackets, it'll all trickle down. But it… — Michael Hudson Copy Share Image
Governments create money and spend it into the economy by running budget deficits. The paper currency in your pocket is technically a… — Michael Hudson Copy Share Image
The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's… — Michael Hudson Copy Share Image
Since 2008 you've had the largest bond market rally in history, as the Federal Reserve flooded the economy with quantitative easing to… — Michael Hudson Copy Share Image
Economic polarization is also occurring between creditor and debtor nations. This issplitting the eurozone between Germany, France and the Netherlands in the… — Michael Hudson Copy Share Image
People think that this concept of GDP is scientific economics, partly because it has a precise number and can be quantified. But… — Michael Hudson Copy Share Image
When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the… — Michael Hudson Copy Share Image
Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing… — Michael Hudson Copy Share Image
People think of a business cycle, which is a boom followed by a recession and then automatic stabilizers revive the economy. But… — Michael Hudson Copy Share Image
There are many ways to create economic suicide on a national level. The major way through history has been through indebting the… — Michael Hudson Copy Share Image
“Europe’s war against debtor countries was turning into class war, which always ends up being waged on the political battlefield. One financial… — Michael Hudson Copy Share Image
“Instead of leading to the promised leisure economy of abundance by freeing society from the legacies of feudalism and the hereditary privileges… — Michael Hudson Copy Share Image
“Ideally, a fair and equitable society would regulate debt in line with the ability to be paid without pushing economies into depression.… — Michael Hudson Copy Share Image
So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages,… — Michael Hudson Copy Share Image
The real estate interests and banks are in a kind of symbiosis. They're the largest-growing part of the economy. This is the… — Michael Hudson Copy Share Image
When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living… — Michael Hudson Copy Share Image
We've turned the post-war economy that made America prosperous and rich inside out. Somehow most people believed they could get rich by… — Michael Hudson Copy Share Image
Today's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim… — Michael Hudson Copy Share Image
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… — Michael Hudson Copy Share
This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in… — Michael Hudson Copy Share
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Copy Share
If you end internet neutrality and permit mergers of the big information technology corporations, that's a form of rent seeking. It's part of today's… — Michael Hudson Copy Share
Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is what's happening… — Michael Hudson Copy Share
You could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working class, to… — Michael Hudson Copy Share
Actually, high housing prices don't help the economy. They raise the cost of living. — Michael Hudson Copy Share
When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are… — Michael Hudson Copy Share
The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of spending their… — Michael Hudson Copy Share
On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top… — Michael Hudson Copy Share
Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets into deficit.… — Michael Hudson Copy Share
Debtor countries may postpone the inevitable by borrowing from the IMF or U.S. Treasury to buy out bondholders. This saves the latter from taking… — Michael Hudson Copy Share
No price is too high to pay to try to make the financial system go on a little bit longer. But ultimately it can't… — Michael Hudson Copy Share
![“The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to carry this debt. [...] The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real…” quote by Michael Hudson](https://sms4smile.com/q/img-quotes/843/michael-hudson-2134_ability_the-most-serious-problems-lie-in-the-fin_1562200.jpg)
