Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — 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.… — Michael Hudson 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 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
One basic myth is that rich people get wealthy by earning income. But that's not how most get rich. Most of the… — 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
People are putting their money into treasuries because they worry that the risk of putting their money into the bond market, the… — Michael Hudson Copy Share Image
Governments create money and spend it into the economy by running budget deficits. The paper currency in your pocket is technically a… — 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
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
That's why Apple, Microsoft and the big information technology companies have kept so much money registered abroad (although in US dollar accounts… — 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
What's the best gamble in the world, right now? Its betting that Deutsche Bank stock is going to go down. Short sellers… — Michael Hudson 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 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
We've turned the post-war economy that made America prosperous and rich inside out. Somehow most people believed they could get rich by… — Michael Hudson 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 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 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 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
People think of a parasite as simply taking money, taking blood out of a host or taking money out of the economy.… — 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 Copy Share Image
Stocks always go down much faster than they go up. That's why it's called a crash. People who put their money into… — 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
Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending… — 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
In order to be an economist these days, you have to participate in this fairytale that somehow we can recover and still… — 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
The companies aren't hiring, because consumers don't have enough money to buy the goods and services. — 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
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
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
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
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
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
“Bankers are seeking to capture government and make financial policy immune from democratic choice. What promised to be a progressive social democratic… — 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
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
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
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
![“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/img-quotes/843/michael-hudson-2134_ability_the-most-serious-problems-lie-in-the-fin_1562200.jpg)
