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
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
So the political choice today is much like the 1930s, when the global economy also broke down. The choice is between nationalism… — Michael Hudson Copy Share Image
Every government, from the Obama administration right through to Angela Merkel, the Eurozone and the IMF, promise to save the banks, not… — Michael Hudson Copy Share Image
The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial… — Michael Hudson Copy Share Image
I don't think that governments should permit speculation in raw materials, because they're what the economy basically needs. — 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 world's politics are in turmoil, not to mention the Mideast, where the US has mounted attacks from Libya to Iraq to… — Michael Hudson Copy Share Image
You'll have to have the governments sell off all of their public domains; sell off their railroads, sell off their public land.… — Michael Hudson Copy Share Image
To save the banks from making losses that would wipe out their net worth, you'll have to get rid of Social Security.… — Michael Hudson Copy Share Image
What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they… — Michael Hudson Copy Share Image
The establishment Trump talked about wasn’t really Wall Street. He said, “When Washington got rich.” Bernie Sanders would have said, “When Wall… — Michael Hudson Copy Share Image
The bank's product is debt, because the banks want to make sure that they can get paid for the debt. But ultimately… — 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
A stand in is a politician who can deliver her constituency to her Wall Street backers. That's what a politician does in… — Michael Hudson Copy Share Image
That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In… — 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
“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
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
