Either you can save the economy, or you can save the One Percent from losing a single penny. — 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
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
The economy is being run primarily by the banks for their own interest. — 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
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
From 2008 to 2016 all the growth in the American economy, all the growth in national income, was earned just by the… — 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
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
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
If the economy is growing, people want to employ more workers. If you hire more labor, wages go up. — 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
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 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
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
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
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
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
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
When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living… — 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
