There really isn't a recovery, and no signs of it on the horizon, because people have to pay the banks. It's a… — Michael Hudson Circles Copy Share Image
The world's politics are in turmoil, not to mention the Mideast, where the US has mounted attacks from Libya to Iraq to… — Michael Hudson Attacking Copy Share Image
The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve… — Michael Hudson Able Copy Share Image
So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages,… — Michael Hudson Credit card Copy Share Image
People think that this concept of GDP is scientific economics, partly because it has a precise number and can be quantified. But… — Michael Hudson Economics Copy Share Image
Throughout history, the only way of restoring stability is to write down the debts. That is treated now as if it's something… — Michael Hudson Debt Copy Share Image
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 American economy Copy Share Image
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 Cheaper Copy Share Image
The companies aren't hiring, because consumers don't have enough money to buy the goods and services. — Michael Hudson Company Copy Share Image
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 Bombs Copy Share Image
Every government, from the Obama administration right through to Angela Merkel, the Eurozone and the IMF, promise to save the banks, not… — Michael Hudson Administration Copy Share Image
Economic polarization is also occurring between creditor and debtor nations. This issplitting the eurozone between Germany, France and the Netherlands in the… — Michael Hudson Economic Copy Share Image
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 Democratic Copy Share Image
“The collapse of Inter-Ally debts and German reparations in the 1920s showed that “debts that can’t be paid, won’t be.” What blocks… — Michael Hudson Copy Share Image
In real estate you can avoid ever having to pay a capital gains tax, decade after decade, century after century. When you… — Michael Hudson Capital gains Copy Share Image
Since 2008 you've had the largest bond market rally in history, as the Federal Reserve flooded the economy with quantitative easing to… — Michael Hudson Bond market Copy Share Image
I think something like three-quarters of American currency is held abroad, by drug dealers, by tax evaders, Russians and Chinese. Other people… — Michael Hudson Bills Copy Share Image
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or… — Michael Hudson Collapse Copy Share Image
Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to… — Michael Hudson Economist Copy Share Image
In order to be an economist these days, you have to participate in this fairytale that somehow we can recover and still… — Michael Hudson Economist Copy Share Image
The real estate interests and banks are in a kind of symbiosis. They're the largest-growing part of the economy. This is the… — Michael Hudson Agency Copy Share Image
If a lot of money goes into the stock market, it'll push up prices, making money for stock speculators. Then the insiders… — Michael Hudson Ifs Copy Share Image
I think we're in the take-the-money-and-run stage of the economy. So the banks may go under, but the bankers, who make the… — Michael Hudson Bankers Copy Share Image
The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their… — Michael Hudson Benefits Copy Share Image
In fact, there's no way that banks can be paid everything that they're owed. — Michael Hudson Facts Copy Share Image
