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
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 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
Throughout history, the only way of restoring stability is to write down the debts. That is treated now as if it's something… — Michael Hudson Copy Share Image
The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their… — 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 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 Image
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 Image
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Copy Share Image
Nothing could be better for the economy than to get rid of fracking. — Michael Hudson Copy Share Image
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 Image
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 Image
What's bad for the frackers usually is good for the rest of the world. — 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 class, to… — Michael Hudson Copy Share Image
Actually, high housing prices don't help the economy. They raise the cost of living. — Michael Hudson Copy Share Image
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 Image
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 Image
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 Image
