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
Every government, from the Obama administration right through to Angela Merkel, the Eurozone and the IMF, promise to save the banks, not… — Michael Hudson Administration 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 Capital gains Copy Share Image
You have a choice. Either you can have more oil, or more clean water. Fracking is not good for the water supply. — Michael Hudson Choices Copy Share Image
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Capital gains Copy Share Image
Trump's junk economics is the illusion that if we cut the taxes on the wealthiest brackets, it'll all trickle down. But it… — Michael Hudson Brackets 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 Currency Copy Share Image
If you increase living standards, you make labor more productive. This is why Asia today is becoming more productive than the United… — Michael Hudson Asia Copy Share Image
Since 2008 you've had the largest bond market rally in history, as the Federal Reserve flooded the economy with quantitative easing to… — Michael Hudson Bond market Copy Share Image
Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets… — Michael Hudson Enterprise Copy Share Image
Canada is a malstructured. You could almost call it a failed economy, except that its natural resources are so rich that everybody… — Michael Hudson Canada Copy Share Image
We're at the end of long cycle that began in 1945, loading the economy with debt. We're not going to be able… — Michael Hudson Copy Share Image
In real estate you can avoid ever having to pay a capital gains tax, decade after decade, century after century. When you… — Michael Hudson Capital gains 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 Customer 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 Banks 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 Bombs 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 Economy Copy Share Image
The other dynamic keeping the stock market up - both for technology stocks and others - is that companies are using a… — 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 Economics Copy Share Image
What's the best gamble in the world, right now? Its betting that Deutsche Bank stock is going to go down. Short sellers… — Michael Hudson Betting 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 Argument 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 Austerity 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 Economy 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 Bankers Copy Share Image
A derivative is a bet on whether a stock, or a bond or a real estate asset, is going to go up… — 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
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 Customer Copy Share Image
We're in a chronic debt-deflation. There's no way we can recover unless you write down the debts. And that's what the IMF… — Michael Hudson Business 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 Climate Copy Share Image
Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income.… — Michael Hudson Copy Share Image
In China the largest denomination bill they have is 100 yen, and that's maybe $7. So here you have a whole economy… — 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
The banks' product is debt. They try to tell customers that "debts are good for you," but the customers can't afford any… — Michael Hudson Business Copy Share Image
Just like a house is worth whatever a bank's going to lend against it, an education is worth whatever the bank is… — Michael Hudson Copy Share Image
Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that's not permitted with student loans.… — Michael Hudson Copy Share Image
More and more money is being extracted from of the production and consumption economy to pay the FIRE sector. That's what causes… — 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 Bombing Copy Share Image
Trump has said that he wants to remove the tax deductibility of interest. If he can do that, fine. But I hope… — Michael Hudson Copy Share Image
