America needs an ineffective president. That's much better than an effective president that's going to go to war with Russia, that's going… — Michael Hudson America Copy Share Image
There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like… — Michael Hudson Break Copy Share Image
So the Bush-Obama administration has taken a fiscal stance diametrically opposed to that of the patron saint of free enterprise. While escalating… — Michael Hudson Administration Copy Share Image
“Whom the gods would destroy, they first make mad.” And if they would destroy economies, they first create a wealthy class on… — Michael Hudson Human nature Copy Share Image
Deflation is a leakage from this circular flow, to pay banks and the real estate, called the FIRE sector - finance, insurance… — Michael Hudson Deflation Copy Share Image
When Mr.Trump says he wants to help all Americans, he means he wants to help all Americans in the 1% by really… — Michael Hudson Believe Copy Share Image
The price decline is a result of having to pay debts. That drains income from the circular flow between production and consumption… — Michael Hudson Consumption Copy Share Image
The biggest industrial sector next to real estate is oil, gas and other mineral resources. They don't report any taxable income, because… — Michael Hudson Accountants Copy Share Image
Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income.… — Michael Hudson Better off Copy Share Image
The concept of productivity in America is income divided by labor. So if you're Goldman Sachs and you pay yourself $20 million… — Michael Hudson Labor Copy Share Image
I think the less fracking there is, the better it is for the economy and society. — Michael Hudson Economics Copy Share Image
If you're a wealthy heir with a trust fund, and you sell stocks, make your 10% gains since Donald Trump, and then… — Michael Hudson Accountants Copy Share Image
“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 Confidence Copy Share Image
We go forward with our heads held high, but look back and remember where we come from. — Michael Hudson Commentators Copy Share 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… — Michael Hudson Crash Copy Share Image
Inflation usually helps the economy at large, but not the 1% if wages rise. So the 1% says that it is terrible. — Michael Hudson Economy Copy Share Image
The one sure mark of a con, though, is the promise of free money. — Michael Hudson Free money Copy Share Image
The effect of metals speculation was to push up the prices that China had to pay to countries like Australia. This squeezed… — Michael Hudson Australia Copy Share Image
In China the largest denomination bill they have is 100 yen, and that's maybe $7. So here you have a whole economy… — Michael Hudson Bills Copy Share Image
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 Availability Copy Share Image
The bank's product is debt, because the banks want to make sure that they can get paid for the debt. But ultimately… — Michael Hudson Creditors Copy Share Image
We're in a chronic debt-deflation. There's no way we can recover unless you write down the debts. And that's what the IMF… — Michael Hudson Business Copy Share Image
There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens… — Michael Hudson Cards Copy Share Image
Trump's junk economics is the illusion that if we cut the taxes on the wealthiest brackets, it'll all trickle down. But it… — Michael Hudson Brackets Copy Share Image
The United States Government has fought against creation of an international court to adjudicate the ability of national economies to pay debts. — Michael Hudson Ability Copy Share Image
