Michael Hudson

What's bad for the frackers usually is good for the rest of the world.

— Michael Hudson

We go forward with our heads held high, but look back and remember where we come from.

— Michael Hudson

To the deficit commission, a depression is the solution to the problem, not a problem.

— Michael Hudson

Small banks that lend to consumers are fine.

— Michael Hudson

In fact, there's no way that banks can be paid everything that they're owed.

— Michael Hudson

Paying debt service to banks leaves less income to buy goods and services.

— Michael Hudson

You have the economic vocabulary turning into vocabulary of deception.

— Michael Hudson

The one sure mark of a con, though, is the promise of free money.

— Michael Hudson

The natural geopolitical arrangement is for Europe to be part of Eurasia, especially for Germany to develop trade and investment relationships with…

— Michael Hudson

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

Needless to say, banks and bondholders do not want to promote any arguments explaining the limits to how much can be paid…

— Michael Hudson

If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way…

— Michael Hudson

When you say "paying the banks," what they really mean is paying the bank bondholders. They are basically the One Percent.

— Michael Hudson

No price is too high to pay to try to make the financial system go on a little bit longer. But ultimately…

— Michael Hudson

In order to be an economist these days, you have to participate in this fairytale that somehow we can recover and still…

— Michael Hudson

Either you can save the economy, or you can save the One Percent from losing a single penny.

— Michael Hudson

The aim of academic trade theory is to tell students, "Look at the model, not at how nations actually develop." So of…

— Michael Hudson

The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want…

— Michael Hudson

Mathematically, debts grow exponentially at compound interest. Banks recycle the interest into new loans, so debts grow exponentially, faster than the economy…

— Michael Hudson

If a lot of money goes into the stock market, it'll push up prices, making money for stock speculators. Then the insiders…

— Michael Hudson

The Eurozone die is cast. Countries must withdraw from the euro so that governments can create their own money once again, and…

— Michael Hudson

The IMF acts as the collection agent for global bondholders. Its projections begin by assuming that all debts can be paid, if…

— Michael Hudson

The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their…

— Michael Hudson

Oil is a special case. Saudi Arabia is trying to drive U.S. fracking rivals out of business, while also hurting Russia. This…

— Michael Hudson

“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

Education is something that should not be organized on a for-profit basis, because in that case its purpose is not really to…

— Michael Hudson

So the Bush-Obama administration has taken a fiscal stance diametrically opposed to that of the patron saint of free enterprise. While escalating…

— Michael Hudson

“The collapse of Inter-Ally debts and German reparations in the 1920s showed that “debts that can’t be paid, won’t be.” What blocks…

— Michael Hudson

“The idea that the euro has “failed” is dangerously naive. The euro is doing exactly what its progenitor – and the wealthy…

— Michael Hudson

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

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

I guess the main thing that came out of the Panama Papers was that Ukrainian President Poroshenko had promised to divest of…

— Michael Hudson

“Net wages: “It’s not what you make, but what you net” after paying the FIRE sector, basic utilities and taxes. The usual…

— Michael Hudson

“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

“Free Trade: The stage of trade policy that followed mercantilist and protectionist success in raising first Britain and then the United States…

— Michael Hudson

“To enable lending to proceed when the IMF’s sustainability criteria were not met, its bureaucrats designed the “systemic risk waiver.” It was…

— Michael Hudson

“Instead of leading to the promised leisure economy of abundance by freeing society from the legacies of feudalism and the hereditary privileges…

— Michael Hudson

“Ideally, a fair and equitable society would regulate debt in line with the ability to be paid without pushing economies into depression.…

— Michael Hudson

“Oligarchy: Rule by the few, usually the richest One Percent. In Aristotle’s political theory, oligarchy is the stage into which democracy evolves,…

— Michael Hudson

“Neofeudalism: Much as warlords seized land in the Norman Conquest and levied rent on subject populations (starting with the Domesday Book, the…

— Michael Hudson