Michael Hudson

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

Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing…

— Michael Hudson

I think the Republican tax law is so bad that it almost guarantees a Republican victory, precisely because it's so bad. The…

— Michael Hudson

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

— Michael Hudson

That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In…

— Michael Hudson

People think of a business cycle, which is a boom followed by a recession and then automatic stabilizers revive the economy. But…

— Michael Hudson

High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low…

— Michael Hudson

Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is…

— Michael Hudson

Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices…

— Michael Hudson

“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

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

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

The fact that you have government-guaranteed student loans has created a whole new sector in the American economy that didn't really exist…

— Michael Hudson

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

When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the…

— Michael Hudson

The worst loophole is what Donald Trump has talked about: the tax deductibility of interest. If you let real estate owners or…

— Michael Hudson

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

You could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working…

— Michael Hudson

The problem is indeed that one party's debt finds its counterpart in some other party's savings. Not paying debts therefore involves annulling…

— Michael Hudson

For many people, the mortgages they took out before 2008 are so high that they would be better off walking away from…

— Michael Hudson

There are many ways to create economic suicide on a national level. The major way through history has been through indebting the…

— Michael Hudson

If you want to see where Trump is moving, look at what the United States neoliberals advised Russia to do after 1991,…

— Michael Hudson

Oil now, as a result of the Saudi production, is priced so low that there are not going to be new fracking…

— Michael Hudson

This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and…

— Michael Hudson