If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way… — Michael Hudson Copy Share Image
Trump has said that he wants to remove the tax deductibility of interest. If he can do that, fine. But I hope… — Michael Hudson Copy Share Image
Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that's not permitted with student loans.… — Michael Hudson Copy Share Image
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
If the economy is growing, people want to employ more workers. If you hire more labor, wages go up. — Michael Hudson Copy Share Image
Most of the European leaders look at themselves as having to follow the United States, because if the US opposes them, there… — Michael Hudson Copy Share Image
There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like… — Michael Hudson Copy Share Image
If you increase living standards, you make labor more productive. This is why Asia today is becoming more productive than the United… — 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
When you say "bank," a bank is a building, a set of computers and chairs and things. The bankers are the people… — Michael Hudson Copy Share Image
If bankers can push the loans and make more profits for the bank, they get paid higher bonuses. They often also get… — Michael Hudson Copy Share Image
The United States is pushing as policy division of the world into rival currency camps - the dollar area on the one… — Michael Hudson Copy Share Image
It's amazing that Europe says, "What are we going to do with these refugees?" It's as if it doesn't realize that being… — 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
Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income.… — Michael Hudson Copy Share Image
The biggest industrial sector next to real estate is oil, gas and other mineral resources. They don't report any taxable income, because… — Michael Hudson Copy Share Image
If you're a wealthy heir with a trust fund, and you sell stocks, make your 10% gains since Donald Trump, and then… — Michael Hudson Copy Share Image
The worst loophole is what Donald Trump has talked about: the tax deductibility of interest. If you let real estate owners or… — 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
Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices… — 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
Trump's junk economics is the illusion that if we cut the taxes on the wealthiest brackets, it'll all trickle down. But it… — 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
The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve… — Michael Hudson Copy Share Image
The problems of 2008 were never cured. The Federal Reserve's solution to the crisis was to lend the economy enough money to… — Michael Hudson Copy Share Image
If a lot of money goes into the stock market, it'll push up prices, making money for stock speculators. Then the insiders… — Michael Hudson Copy Share Image
Seventy-eight percent of millennials are worried about not having enough good paying job opportunity to pay off their student loans. Seventy-four percent… — Michael Hudson Copy Share Image
I think something like three-quarters of American currency is held abroad, by drug dealers, by tax evaders, Russians and Chinese. Other people… — 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
