The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial… — Michael Hudson 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 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
Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to… — Michael Hudson Copy Share Image
No price is too high to pay to try to make the financial system go on a little bit longer. But ultimately… — Michael Hudson Copy Share Image
The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want… — Michael Hudson Copy Share Image
When you buy enough stocks to give you control of a target company, that's called mergers and acquisitions or corporate raiding. Hedge… — Michael Hudson 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 Copy Share Image
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or… — Michael Hudson 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
So the Bush-Obama administration has taken a fiscal stance diametrically opposed to that of the patron saint of free enterprise. While escalating… — 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
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
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
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Copy Share
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
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
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
Actually, high housing prices don't help the economy. They raise the cost of living. — Michael Hudson Copy Share
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
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
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
Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets into deficit.… — Michael Hudson Copy Share
Debtor countries may postpone the inevitable by borrowing from the IMF or U.S. Treasury to buy out bondholders. This saves the latter from taking… — Michael Hudson Copy Share
No price is too high to pay to try to make the financial system go on a little bit longer. But ultimately it can't… — Michael Hudson Copy Share
![“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/i/843/michael-hudson-2134_ability_the-most-serious-problems-lie-in-the-fin_1562200.jpg)