Michael Hudson

In fact, there's no way that banks can be paid everything that they're owed.

— Michael Hudson

Paying debt service to banks leaves less income to buy goods and services.

— Michael Hudson

We go forward with our heads held high, but look back and remember where we come from.

— Michael Hudson

To the deficit commission, a depression is the solution to the problem, not a problem.

— Michael Hudson

Small banks that lend to consumers are fine.

— Michael Hudson

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

— Michael Hudson

I think the less fracking there is, the better it is for the economy and society.

— Michael Hudson

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

— Michael Hudson

That's the "magic" of double-taxation treaties: you can shop around for the lowest taxer.

— Michael Hudson

The vast majority of $100 bills are abroad, not in the United States. So yes, of course there's a use here but…

— Michael Hudson

Debtors will seek to cancel their debts. Creditors will try to collect, and the more they succeed, the more they will impoverish…

— Michael Hudson

Either you can save the economy, or you can save the One Percent from losing a single penny.

— Michael Hudson

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

We're still in the collapse that began after 2008. There's not a new collapse, there hasn't been a recovery.

— Michael Hudson

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

— Michael Hudson

Inflation usually helps the economy at large, but not the 1% if wages rise. So the 1% says that it is terrible.

— Michael Hudson

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

Just like a house is worth whatever a bank's going to lend against it, an education is worth whatever the bank is…

— Michael Hudson

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

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

It's amazing that Europe says, "What are we going to do with these refugees?" It's as if it doesn't realize that being…

— Michael Hudson

Trump has said that he wants to remove the tax deductibility of interest. If he can do that, fine. But I hope…

— Michael Hudson

When they say inflation is bad, deflation is good, what they mean is, more money for us 1% is good; we're all…

— Michael Hudson

You're having government spending on the economy being cut almost everywhere. That means that the only source of spending for growth has…

— Michael Hudson

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

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

— Michael Hudson

Europe is sort of like the Soviet Union in the '30s and '40s. There was an argument, is it reformable or not?…

— Michael Hudson

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

— Michael Hudson

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

— Michael Hudson

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

— Michael Hudson

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

— Michael Hudson

US opposition to Russia and China has entailed sanctions against Russia, and Russia in turn has made counter-sanctions against Europe. So Europe…

— Michael Hudson

“To enable lending to proceed when the IMF’s sustainability criteria were not met, its bureaucrats designed the “systemic risk waiver.” It was…

— Michael Hudson

“Net wages: “It’s not what you make, but what you net” after paying the FIRE sector, basic utilities and taxes. The usual…

— Michael Hudson

“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

“Free Trade: The stage of trade policy that followed mercantilist and protectionist success in raising first Britain and then the United States…

— Michael Hudson

“Neofeudalism: Much as warlords seized land in the Norman Conquest and levied rent on subject populations (starting with the Domesday Book, the…

— Michael Hudson

“Just as the drivers in Gatsby and Bonfire responsible for crashes left others to bear the blame, so the One Percent seeks…

— Michael Hudson

“Oligarchy: Rule by the few, usually the richest One Percent. In Aristotle’s political theory, oligarchy is the stage into which democracy evolves,…

— Michael Hudson

“Ideally, a fair and equitable society would regulate debt in line with the ability to be paid without pushing economies into depression.…

— Michael Hudson