Credit card Quote by Michael Hudson

The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of spending their…

— Michael Hudson

When the economy's shrinking, providing jobs, spending on things like infrastructure can actually increase revenue and drive down debt. And then, there's going to…

— Barack Obama

Basically, unless you're willing to write down debts and save the economy, you're going to have deflation and a steady drain in purchasing power…

— Michael Hudson

When there's deflation, it means that although most markets are shrinking and people have less to spend, the 1% that hold the 99% in…

— Michael Hudson

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

— Michael Hudson

There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people…

— Michael Hudson

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

— Michael Hudson

Debt deflation is when there's less money that people have to spend out of their paychecks on goods and services, because they're paying the…

— Michael Hudson

Since loans are getting more expensive and there's less money available, we're seeing a commensurate decline in growth. Higher costs and lower growth, in…

— Paul Achleitner

Debts grow and grow. And the more they grow, the more they shrink the economy. When you shrink the economy, you shrink the ability…

— Michael Hudson

When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living and depend…

— Michael Hudson

When the average person is being financially squeezed, they cut back on spending, demand goes down and businesses have to lay people off. That's…

— Touker Suleyman