The IMF acts as the collection agent for global bondholders. Its projections begin by assuming that all debts can be paid, if… — Michael Hudson Assuming Copy Share Image
The current U.S. and Eurozone depression isn't because of China. It's because of domestic debt deflation. Commodity prices and consumer spending are… — Michael Hudson Commodity Copy Share Image
You have to abolish pension plans. You have to abolish social spending. You have to raise taxes. You have to have at… — Michael Hudson Abolish Copy Share Image
“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 Cable tv Copy Share Image
High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low… — Michael Hudson Arabia Copy Share Image
When there's deflation, it means that although most markets are shrinking and people have less to spend, the 1% that hold the… — Michael Hudson Creditors Copy Share Image
The worst loophole is what Donald Trump has talked about: the tax deductibility of interest. If you let real estate owners or… — Michael Hudson Company Copy Share Image
The other dynamic keeping the stock market up - both for technology stocks and others - is that companies are using a… — Michael Hudson Behinds Copy Share Image
“Just as the drivers in Gatsby and Bonfire responsible for crashes left others to bear the blame, so the One Percent seeks… — Michael Hudson Motivation Copy Share Image
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 Causes Copy Share Image
We're still in the collapse that began after 2008. There's not a new collapse, there hasn't been a recovery. — Michael Hudson Collapse Copy Share Image
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 Banking Copy Share Image
The problems of 2008 were never cured. The Federal Reserve's solution to the crisis was to lend the economy enough money to… — Michael Hudson Balance Copy Share 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… — Michael Hudson Accountants Copy Share Image
The establishment Trump talked about wasn’t really Wall Street. He said, “When Washington got rich.” Bernie Sanders would have said, “When Wall… — Michael Hudson Bernie sanders Copy Share Image
A stand in is a politician who can deliver her constituency to her Wall Street backers. That's what a politician does in… — Michael Hudson Art Copy Share Image
“The idea that the euro has “failed” is dangerously naive. The euro is doing exactly what its progenitor – and the wealthy… — Michael Hudson Evil genius Copy Share Image
The aim of academic trade theory is to tell students, "Look at the model, not at how nations actually develop." So of… — Michael Hudson Academic Copy Share Image
The aim of promoting low down payments is to push prices back up so that fewer houses are going to be in… — Michael Hudson Aim Copy Share 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… — Michael Hudson Economics Copy Share Image
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 Betting Copy Share Image
So the political choice today is much like the 1930s, when the global economy also broke down. The choice is between nationalism… — Michael Hudson 1930s Copy Share Image
“Ideally, a fair and equitable society would regulate debt in line with the ability to be paid without pushing economies into depression.… — Michael Hudson Economics Copy Share Image
Mathematically, debts grow exponentially at compound interest. Banks recycle the interest into new loans, so debts grow exponentially, faster than the economy… — Michael Hudson Compound interest Copy Share Image
To save the banks, you would have to turn the entire Eurozone into Greece. — Michael Hudson Eurozone Copy Share Image
