Inflation usually helps the economy at large, but not the 1% if wages rise. So the 1% says that it is terrible. — Michael Hudson Copy Share Image
Either you can save the economy, or you can save the One Percent from losing a single penny. — Michael Hudson Copy Share Image
The economy is being run primarily by the banks for their own interest. — Michael Hudson Copy Share Image
Nothing could be better for the economy than to get rid of fracking. — Michael Hudson Copy Share Image
If the economy is growing, people want to employ more workers. If you hire more labor, wages go up. — 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 don't think that governments should permit speculation in raw materials, because they're what the economy basically needs. — 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
Canada is a malstructured. You could almost call it a failed economy, except that its natural resources are so rich that everybody… — 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
Needless to say, banks and bondholders do not want to promote any arguments explaining the limits to how much can be paid… — Michael Hudson Copy Share Image
Mathematically, debts grow exponentially at compound interest. Banks recycle the interest into new loans, so debts grow exponentially, faster than the economy… — Michael Hudson Copy Share Image
The IMF acts as the collection agent for global bondholders. Its projections begin by assuming that all debts can be paid, if… — 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 Copy Share Image
Debtors will seek to cancel their debts. Creditors will try to collect, and the more they succeed, the more they will impoverish… — 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
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
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 Copy Share Image
To save the banks from making losses that would wipe out their net worth, you'll have to get rid of Social Security.… — Michael Hudson Copy Share Image
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 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 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
What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they… — Michael Hudson Copy Share Image
The fact that you have government-guaranteed student loans has created a whole new sector in the American economy that didn't really exist… — 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
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
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
Every government, from the Obama administration right through to Angela Merkel, the Eurozone and the IMF, promise to save the banks, not… — Michael Hudson Copy Share Image
The United States Government has fought against creation of an international court to adjudicate the ability of national economies to pay debts. — Michael Hudson Copy Share Image
Basically, unless you're willing to write down debts and save the economy, you're going to have deflation and a steady drain in… — 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
Governments create money and spend it into the economy by running budget deficits. The paper currency in your pocket is technically a… — 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
Debts grow and grow. And the more they grow, the more they shrink the economy. When you shrink the economy, you shrink… — Michael Hudson 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
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
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
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
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 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
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
![“The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to carry this debt. [...] The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real…” quote by Michael Hudson](https://sms4smile.com/quotes/img-quotes/843/michael-hudson-2134_ability_the-most-serious-problems-lie-in-the-fin_1562200.jpg)
