Skip to content

People Quotes by Michael Hudson

46 People quotes by Michael Hudson

All People quotes Michael Hudson’s page

Michael Hudson explains that rich people often choose capital gains because they are taxed less than regular income. He describes a debt‑deflation cycle where households and businesses pay banks instead of buying goods. He also says that policies claiming to help the people actually move wealth upward to the rich.

Rate this collection: ★ ★ ★ ★ ★ No ratings yet

When Hillary Clinton said she's going to do just what Obama does and we're going to continue to recover, most people know…

Image

Textbooks don't teach people how to avoid paying any income tax. But that's what an army of tax lawyers and corporate tax…

Image

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

Image

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

Image

There really isn't a recovery, and no signs of it on the horizon, because people have to pay the banks. It's a…

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…

Image

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

Image

When we say "people worry" about inflation, it's mainly bondholders that worry. The labor force benefitted from the inflation of the '50s,…

Image

The United States is pushing as policy division of the world into rival currency camps - the dollar area on the one…

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…

Image

Almost all of the demand for oil that suddenly pushed prices up was speculative demand. People began to speculate not only in…

Image

When Mr.Trump says he wants to help all Americans, he means he wants to help all Americans in the 1% by really…

Image

People think that this concept of GDP is scientific economics, partly because it has a precise number and can be quantified. But…

Image

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

Image

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

Image

The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their…

Image

Everyone from Adam Smith, John Stewart Mill, they were all reforms. What they wanted to reform was getting rid of this parasitic…

Image

Most of these charges that people pay are economically unnecessary. There's no real cost behind them. There's no real value behind them.…

Image

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

Image

Mr. Trump wants to turn the U.S. economy into the kind of real estate development that has made him so rich in…

Image

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

Image

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

Image

I think something like three-quarters of American currency is held abroad, by drug dealers, by tax evaders, Russians and Chinese. Other people…

Image

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

Image

There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like…

Image

If the economy is growing, people want to employ more workers. If you hire more labor, wages go up.

Image

When you say "bank," a bank is a building, a set of computers and chairs and things. The bankers are the people…

Image

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

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…

Image

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

Image

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

Image

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

Image

The real estate interests and banks are in a kind of symbiosis. They're the largest-growing part of the economy. This is the…

Image

The price decline is a result of having to pay debts. That drains income from the circular flow between production and consumption…

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…

Image

So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages,…

Image

In housing you have jingle mail and you can walk away and leave the bank holding the bag. In the case of…

Image

Debts grow and grow. And the more they grow, the more they shrink the economy. When you shrink the economy, you shrink…

Image

People tend to think that paying a debt is like going out and buying a car, buying more food or buying more…

Image

There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens…

Image

Other authors on People

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…