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
I think we're in the take-the-money-and-run stage of the economy. So the banks may go under, but the bankers, who make the… — 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
I think the Republican tax law is so bad that it almost guarantees a Republican victory, precisely because it's so bad. The… — 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 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
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
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
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
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
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
Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices… — 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
So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after… — 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
