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 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
So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after… — 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 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
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
The companies aren't hiring, because consumers don't have enough money to buy the goods and services. — 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
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
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
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
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
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
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
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
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
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
