Needless to say, banks and bondholders do not want to promote any arguments explaining the limits to how much can be paid… — Michael Hudson Argument Copy Share Image
A bubble is only called that after it bursts, after the insiders get out, leaving the pension funds and small investors, Canadians… — Michael Hudson Bags Copy Share Image
People tend to think that paying a debt is like going out and buying a car, buying more food or buying more… — Michael Hudson Buying Copy Share Image
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 Debt 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 Acquire Copy Share Image
You have a choice. Either you can have more oil, or more clean water. Fracking is not good for the water supply. — Michael Hudson Choices 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 Currency 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 Better off Copy Share Image
To the deficit commission, a depression is the solution to the problem, not a problem. — Michael Hudson Deficit 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 Aim 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 Economics Copy Share Image
“A return to classical bank policy would deem loans fraudulent and annul debts when creditors do not lend with any reasonable calculation of… — Michael Hudson Life Copy Share Image
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 Business Copy Share Image
I don't think that governments should permit speculation in raw materials, because they're what the economy basically needs. — Michael Hudson Economy Copy Share Image
Paying debt service to banks leaves less income to buy goods and services. — Michael Hudson Debt Copy Share Image
If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way… — Michael Hudson Gross 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 Business Copy Share Image
“Opinion polls showed that two-thirds of Greeks rejected the conditions attached to the bailout, but wanted to stay in the eurozone. Demonstrations… — 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 Accounts 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 Bottom Copy Share Image
If you want to see where Trump is moving, look at what the United States neoliberals advised Russia to do after 1991,… — Michael Hudson Advisors Copy Share Image
Debts grow and grow. And the more they grow, the more they shrink the economy. When you shrink the economy, you shrink… — Michael Hudson Ability 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 Economics Copy Share Image
I guess the main thing that came out of the Panama Papers was that Ukrainian President Poroshenko had promised to divest of… — Michael Hudson Accounts Copy Share 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.… — Michael Hudson Economist Copy Share Image
