A bubble is only called that after it bursts, after the insiders get out, leaving the pension funds and small investors, Canadians… — Michael Hudson 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
One basic myth is that rich people get wealthy by earning income. But that's not how most get rich. Most of the… — Michael Hudson Capital gains 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
When we say "people worry" about inflation, it's mainly bondholders that worry. The labor force benefitted from the inflation of the '50s,… — Michael Hudson Customer Copy Share Image
On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at… — Michael Hudson Flat tax Copy Share Image
Basically, unless you're willing to write down debts and save the economy, you're going to have deflation and a steady drain in… — Michael Hudson Customer Copy Share Image
Europe is acting in a very self-destructive manner, but is doing so because it's trying to be loyal to the United States. — Michael Hudson Acting Copy Share Image
Wages for the ninety-nine percent have gone down, steadily, since 2008. They've gone down especially for the bottom twenty-five percent of the… — Michael Hudson Blue Copy Share Image
To save the banks from making losses that would wipe out their net worth, you'll have to get rid of Social Security.… — Michael Hudson 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
Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets… — Michael Hudson Enterprise Copy Share Image
The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of… — Michael Hudson Customer Copy Share Image
We're at the end of long cycle that began in 1945, loading the economy with debt. We're not going to be able… — 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
People have to pay so much money to the banks that they don't have enough money to buy the goods and services… — Michael Hudson Banks 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 Europe Copy Share Image
Education is something that should not be organized on a for-profit basis, because in that case its purpose is not really to… — Michael Hudson 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
The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's… — Michael Hudson Ability 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 Neoliberal 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 Europe Copy Share Image
Seventy-eight percent of millennials are worried about not having enough good paying job opportunity to pay off their student loans. Seventy-four percent… — Michael Hudson Copy Share Image
From 2008 to 2016 all the growth in the American economy, all the growth in national income, was earned just by the… — Michael Hudson Copy Share Image
Most of the European leaders look at themselves as having to follow the United States, because if the US opposes them, there… — Michael Hudson Change Copy Share Image
Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw… — Michael Hudson Creating 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
If the economy is growing, people want to employ more workers. If you hire more labor, wages go up. — Michael Hudson Economics 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 Copy Share Image
The Eurozone die is cast. Countries must withdraw from the euro so that governments can create their own money once again, and… — Michael Hudson Country 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 Copy Share Image
The IMF acts as the collection agent for global bondholders. Its projections begin by assuming that all debts can be paid, if… — Michael Hudson 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 financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want… — Michael Hudson Ceo 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
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 Customer Copy Share Image
When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting.… — Michael Hudson Balance Copy Share Image
The result of this anti-classical revolution you had just before World War I was that today, almost all the economic growth in… — Michael Hudson Copy Share Image
Oil is a special case. Saudi Arabia is trying to drive U.S. fracking rivals out of business, while also hurting Russia. This… — Michael Hudson Climate 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 Customer Copy Share Image
![“The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to carry this debt. [...] The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real…” quote by Michael Hudson](https://sms4smile.com/quotes/i/843/michael-hudson-2134_ability_the-most-serious-problems-lie-in-the-fin_1562200.jpg)
