When they say inflation is bad, deflation is good, what they mean is, more money for us 1% is good; we're all… — 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 Banking Copy Share Image
Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to… — Michael Hudson Economist Copy Share Image
The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve… — 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 Creditors Copy Share Image
Debtor countries may postpone the inevitable by borrowing from the IMF or U.S. Treasury to buy out bondholders. This saves the latter… — Michael Hudson Borrowing 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 Art 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
The worst loophole is what Donald Trump has talked about: the tax deductibility of interest. If you let real estate owners or… — Michael Hudson Company 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
There are many ways to create economic suicide on a national level. The major way through history has been through indebting the… — Michael Hudson Copy Share Image
If you want to see where Trump is moving, look at what the United States neoliberals advised Russia to do after 1991,… — Michael Hudson Copy Share Image
Oil now, as a result of the Saudi production, is priced so low that there are not going to be new fracking… — Michael Hudson Climate Copy Share Image
This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and… — Michael Hudson Copy Share Image
“A return to classical bank policy would deem loans fraudulent and annul debts when creditors do not lend with any reasonable calculation of… — Michael Hudson Life Copy Share Image
America needs an ineffective president. That's much better than an effective president that's going to go to war with Russia, that's going… — Michael Hudson America 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
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
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 Banks 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 Business Copy Share Image
High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low… — Michael Hudson Arabia Copy Share Image
Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is… — Michael Hudson Capital investment Copy Share Image
The biggest industrial sector next to real estate is oil, gas and other mineral resources. They don't report any taxable income, because… — Michael Hudson Copy Share Image
You could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working… — Michael Hudson Europe Copy Share Image
The problem is indeed that one party's debt finds its counterpart in some other party's savings. Not paying debts therefore involves annulling… — Michael Hudson Debts 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 Ability 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
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
Economists often define their discipline as "the allocation of scarce resources among competing ends." But when resources or money really become scarce,… — Michael Hudson Competing 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 Buying 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 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
We're living in a world that's divided into two economies: the economy of the 1%, and the economy of the bottom 99%.… — 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 Consumption Copy Share Image
As you have to pay more interest and amortization on what you owe, you're left with less and less money to buy… — 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 Bond market Copy Share Image
