I don't think that governments should permit speculation in raw materials, because they're what the economy basically needs. — Michael Hudson Economy Copy Share Image
Actually, high housing prices don't help the economy. They raise the cost of living. — Michael Hudson Cost Copy Share Image
You have a choice. Either you can have more oil, or more clean water. Fracking is not good for the water supply. — Michael Hudson Choices Copy Share Image
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Capital gains Copy Share Image
Trump's claims that he's making taxes more democratic for the people, but it actually is a vast sucking of income and wealth… — Michael Hudson Claims Copy Share Image
Nothing could be better for the economy than to get rid of fracking. — Michael Hudson Better 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… — Michael Hudson Flat tax Copy Share Image
Paying debt service to banks leaves less income to buy goods and services. — Michael Hudson Debt 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 Acquire 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 Bottom Copy Share Image
A bubble is only called that after it bursts, after the insiders get out, leaving the pension funds and small investors, Canadians… — Michael Hudson Bags 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… — Michael Hudson Creating 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 Change 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… — Michael Hudson Europe Copy Share Image
The banks' product is debt. They try to tell customers that "debts are good for you," but the customers can't afford any… — Michael Hudson Business 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 Debt Copy Share Image
Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending… — Michael Hudson Business Copy Share Image
Today's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim… — Michael Hudson Aim Copy Share Image
“A return to classical bank policy would deem loans fraudulent and annul debts when creditors do not lend with any reasonable calculation of… — Michael Hudson Life 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 Ability Copy Share Image
People tend to think that paying a debt is like going out and buying a car, buying more food or buying more… — Michael Hudson Buying Copy Share Image
When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the… — Michael Hudson Austerity Copy Share Image
For many people, the mortgages they took out before 2008 are so high that they would be better off walking away from… — Michael Hudson Better off Copy Share Image
Debtor countries may postpone the inevitable by borrowing from the IMF or U.S. Treasury to buy out bondholders. This saves the latter… — Michael Hudson Borrowing 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 Borrowed money Copy Share Image
“Europe’s war against debtor countries was turning into class war, which always ends up being waged on the political battlefield. One financial… — Michael Hudson Economics Copy Share Image
“Opinion polls showed that two-thirds of Greeks rejected the conditions attached to the bailout, but wanted to stay in the eurozone. Demonstrations… — Michael Hudson Copy Share Image
“Instead of leading to the promised leisure economy of abundance by freeing society from the legacies of feudalism and the hereditary privileges… — Michael Hudson Economics Copy Share Image
To the deficit commission, a depression is the solution to the problem, not a problem. — Michael Hudson Deficit Copy Share Image
What's bad for the frackers usually is good for the rest of the world. — Michael Hudson Good Copy Share Image
Money is not a factor of production. But in order to have access to credit, in order to get money, in order… — Michael Hudson Credit 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… — Michael Hudson Information technology Copy Share Image
Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets… — Michael Hudson Enterprise 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… — Michael Hudson Customer 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.… — Michael Hudson Balance Copy Share Image
If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way… — Michael Hudson Gross 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 Argument 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 Bits Copy Share Image
Oil now, as a result of the Saudi production, is priced so low that there are not going to be new fracking… — Michael Hudson Climate 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 Advisors Copy Share Image
