Europe is acting in a very self-destructive manner, but is doing so because it's trying to be loyal to the United States. — Michael Hudson Copy Share Image
To save the banks, you would have to turn the entire Eurozone into Greece. — Michael Hudson Copy Share Image
The Eurozone die is cast. Countries must withdraw from the euro so that governments can create their own money once again, and… — Michael Hudson Copy Share Image
The natural geopolitical arrangement is for Europe to be part of Eurasia, especially for Germany to develop trade and investment relationships with… — Michael Hudson Copy Share Image
It's amazing that Europe says, "What are we going to do with these refugees?" It's as if it doesn't realize that being… — Michael Hudson Copy Share Image
Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is… — Michael Hudson Copy Share Image
You could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working… — 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… — Michael Hudson Copy Share Image
Seventy-eight percent of millennials are worried about not having enough good paying job opportunity to pay off their student loans. Seventy-four percent… — 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
US opposition to Russia and China has entailed sanctions against Russia, and Russia in turn has made counter-sanctions against Europe. So Europe… — Michael Hudson Copy Share Image
Europe is sort of like the Soviet Union in the '30s and '40s. There was an argument, is it reformable or not?… — Michael Hudson Copy Share Image
You have to abolish pension plans. You have to abolish social spending. You have to raise taxes. You have to have at… — Michael Hudson Copy Share Image
Look at Ukraine. Its currency, the hernia, is plunging. The euro is really in a problem. Greece is problematic as to whether… — Michael Hudson Copy Share Image
“Opinion polls showed that two-thirds of Greeks rejected the conditions attached to the bailout, but wanted to stay in the eurozone. Demonstrations… — Michael Hudson Copy Share Image
“The idea that the euro has “failed” is dangerously naive. The euro is doing exactly what its progenitor – and the wealthy… — Michael Hudson Copy Share Image
“Bankers are seeking to capture government and make financial policy immune from democratic choice. What promised to be a progressive social democratic… — 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
