When Hillary Clinton said she's going to do just what Obama does and we're going to continue to recover, most people know… — Michael Hudson Copy Share Image
When we say "people worry" about inflation, it's mainly bondholders that worry. The labor force benefitted from the inflation of the '50s,… — Michael Hudson Copy Share Image
There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like… — 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
There really isn't a recovery, and no signs of it on the horizon, because people have to pay the banks. It's a… — Michael Hudson Copy Share Image
Trump's claims that he's making taxes more democratic for the people, but it actually is a vast sucking of income and wealth… — Michael Hudson Copy Share Image
One basic myth is that rich people get wealthy by earning income. But that's not how most get rich. Most of the… — Michael Hudson Copy Share Image
People are putting their money into treasuries because they worry that the risk of putting their money into the bond market, the… — Michael Hudson Copy Share Image
The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their… — Michael Hudson Copy Share Image
When you say "bank," a bank is a building, a set of computers and chairs and things. The bankers are the people… — Michael Hudson Copy Share Image
The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of… — Michael Hudson Copy Share Image
People have to pay so much money to the banks that they don't have enough money to buy the goods and services… — Michael Hudson Copy Share Image
Debt deflation is when there's less money that people have to spend out of their paychecks on goods and services, because they're… — Michael Hudson Copy Share Image
Almost all of the demand for oil that suddenly pushed prices up was speculative demand. People began to speculate not only in… — Michael Hudson Copy Share Image
When Mr.Trump says he wants to help all Americans, he means he wants to help all Americans in the 1% by really… — 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
Everyone from Adam Smith, John Stewart Mill, they were all reforms. What they wanted to reform was getting rid of this parasitic… — Michael Hudson Copy Share Image
Most of these charges that people pay are economically unnecessary. There's no real cost behind them. There's no real value behind them.… — Michael Hudson Copy Share Image
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or… — Michael Hudson Copy Share Image
Mr. Trump wants to turn the U.S. economy into the kind of real estate development that has made him so rich in… — Michael Hudson Copy Share Image
For many people, the mortgages they took out before 2008 are so high that they would be better off walking away from… — 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
People think of a parasite as simply taking money, taking blood out of a host or taking money out of the economy.… — Michael Hudson Copy Share Image
I think something like three-quarters of American currency is held abroad, by drug dealers, by tax evaders, Russians and Chinese. Other people… — Michael Hudson Copy Share Image
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Copy Share Image
Textbooks don't teach people how to avoid paying any income tax. But that's what an army of tax lawyers and corporate tax… — Michael Hudson Copy Share Image
The United States is pushing as policy division of the world into rival currency camps - the dollar area on the one… — 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
When there's deflation, it means that although most markets are shrinking and people have less to spend, the 1% that hold 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
Debts grow and grow. And the more they grow, the more they shrink the economy. When you shrink the economy, you shrink… — 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
In housing you have jingle mail and you can walk away and leave the bank holding the bag. In the case of… — Michael Hudson Copy Share Image
People tend to think that paying a debt is like going out and buying a car, buying more food or buying more… — Michael Hudson Copy Share Image
There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens… — Michael Hudson Copy Share Image
The aim of promoting low down payments is to push prices back up so that fewer houses are going to be in… — 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
The price decline is a result of having to pay debts. That drains income from the circular flow between production and consumption… — 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
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
