If bankers can push the loans and make more profits for the bank, they get paid higher bonuses. They often also get… — Michael Hudson Copy Share Image
When you say "bank," a bank is a building, a set of computers and chairs and things. The bankers are the people… — Michael Hudson 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 Copy Share Image
Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending… — Michael Hudson Business 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 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
Today, people are having to spend so much of their money, to acquire a house and to get an education that they… — Michael Hudson Copy Share Image
The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial… — Michael Hudson Business Copy Share Image
People think of a parasite as simply taking money, taking blood out of a host or taking money out of the economy.… — Michael Hudson Brain Copy Share Image
When you buy enough stocks to give you control of a target company, that's called mergers and acquisitions or corporate raiding. Hedge… — Michael Hudson Borrowed money Copy Share Image
So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after… — Michael Hudson Economy 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 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 Copy Share Image
If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent… — Michael Hudson Copy Share Image
Look at Ukraine. Its currency, the hernia, is plunging. The euro is really in a problem. Greece is problematic as to whether… — Michael Hudson Britain Copy Share Image
When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living… — Michael Hudson Bond market 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
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
Today's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim… — Michael Hudson 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 Copy Share Image
We're living in a world that's divided into two economies: the economy of the 1%, and the economy of the bottom 99%.… — Michael Hudson 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
People are putting their money into treasuries because they worry that the risk of putting their money into the bond market, the… — Michael Hudson Bond market Copy Share Image
As you have to pay more interest and amortization on what you owe, you're left with less and less money to buy… — Michael Hudson 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 Copy Share Image
One of the big problems in America's economic polarization and shrinkage is that pensions can't be paid. So there are going to… — Michael Hudson America 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
So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages,… — Michael Hudson Copy Share Image
In housing you have jingle mail and you can walk away and leave the bank holding the bag. In the case of… — Michael Hudson Copy Share Image
Debts grow and grow. And the more they grow, the more they shrink the economy. When you shrink the economy, you shrink… — Michael Hudson Ability Copy Share Image
People tend to think that paying a debt is like going out and buying a car, buying more food or buying more… — Michael Hudson Buying 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 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 Copy Share Image
Economists often define their discipline as "the allocation of scarce resources among competing ends." But when resources or money really become scarce,… — Michael Hudson Competing 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 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 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 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 myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve… — Michael Hudson Copy Share Image
Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing… — Michael Hudson Copy Share Image
