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Money Quotes by Michael Hudson

41 Money quotes by Michael Hudson

All Money quotes Michael Hudson’s page

Money is described as debt that shows up in every transaction. The notes say taxes make people avoid earned income, while capital gains are preferred. It also points out that governments fund spending by printing money and running deficits, and that banks are pulling back from lending to borrowers.

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Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.

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The one sure mark of a con, though, is the promise of free money.

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The companies aren't hiring, because consumers don't have enough money to buy the goods and services.

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More and more money is being extracted from of the production and consumption economy to pay the FIRE sector. That's what causes…

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Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to…

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Debt deflation is when there's less money that people have to spend out of their paychecks on goods and services, because they're…

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Money is not a factor of production. But in order to have access to credit, in order to get money, in order…

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In order to be an economist these days, you have to participate in this fairytale that somehow we can recover and still…

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The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want…

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If a lot of money goes into the stock market, it'll push up prices, making money for stock speculators. Then the insiders…

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When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting.…

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What's the best gamble in the world, right now? Its betting that Deutsche Bank stock is going to go down. Short sellers…

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What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they…

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That's why Apple, Microsoft and the big information technology companies have kept so much money registered abroad (although in US dollar accounts…

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People have to pay so much money to the banks that they don't have enough money to buy the goods and services…

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The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's…

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Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending…

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The problems of 2008 were never cured. The Federal Reserve's solution to the crisis was to lend the economy enough money to…

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Today's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim…

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The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or…

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“Europe’s war against debtor countries was turning into class war, which always ends up being waged on the political battlefield. One financial…

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“Bankers are seeking to capture government and make financial policy immune from democratic choice. What promised to be a progressive social democratic…

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People think of a parasite as simply taking money, taking blood out of a host or taking money out of the economy.…

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When you buy enough stocks to give you control of a target company, that's called mergers and acquisitions or corporate raiding. Hedge…

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So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after…

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For many people, the mortgages they took out before 2008 are so high that they would be better off walking away from…

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“Instead of leading to the promised leisure economy of abundance by freeing society from the legacies of feudalism and the hereditary privileges…

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Stocks always go down much faster than they go up. That's why it's called a crash. People who put their money into…

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Today, people are having to spend so much of their money, to acquire a house and to get an education that they…

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People are putting their money into treasuries because they worry that the risk of putting their money into the bond market, the…

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As you have to pay more interest and amortization on what you owe, you're left with less and less money to buy…

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Governments create money and spend it into the economy by running budget deficits. The paper currency in your pocket is technically a…

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One basic myth is that rich people get wealthy by earning income. But that's not how most get rich. Most of the…

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When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living…

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We've turned the post-war economy that made America prosperous and rich inside out. Somehow most people believed they could get rich by…

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Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices…

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If you're a wealthy heir with a trust fund, and you sell stocks, make your 10% gains since Donald Trump, and then…

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The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve…

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When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the…

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Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing…

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More by Michael Hudson

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…

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…

Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.

Nothing could be better for the economy than to get rid of fracking.

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…

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…

What's bad for the frackers usually is good for the rest of the world.

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…

Actually, high housing prices don't help the economy. They raise the cost of living.

When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are…

The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of spending their…

On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top…

Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets into deficit.…

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…

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…