Paying debt service to banks leaves less income to buy goods and services. — Michael Hudson Copy Share Image
The companies aren't hiring, because consumers don't have enough money to buy the goods and services. — 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
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
Deflation is a leakage from this circular flow, to pay banks and the real estate, called the FIRE sector - finance, insurance… — Michael Hudson Copy Share Image
Today, people are having to spend so much of their money, to acquire a house and to get an education that they… — 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
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
People have to pay so much money to the banks that they don't have enough money to buy the goods and services… — Michael Hudson Copy Share Image
If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent… — 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
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
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
