Bottom Quote by Michael Hudson

“What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they load it down with debt. They make their money by lending to the bottom 95%, or the bottom 99%. When you give them more after-tax income, it enables them to buy even more control of government, even more control of election campaigns. They're not going to spend this money back into the goods-and-services economy.”

Michael Hudson

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Bottom Campaigns Debt Economy Election Giving Goods Goods and services Government Income Lending Load Money Politics Taxes Use

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Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the…

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This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in a while somebody will buy a 50-year-old bottle of wine and say, "Wait a minute. This has gone bad." The answer is, "Well, that wine isn't for drinking; that's for trading." These $100 bills aren't meant…

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Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.

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Nothing could be better for the economy than to get rid of fracking.

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If you end internet neutrality and permit mergers of the big information technology corporations, that's a form of rent seeking. It's part of today's…

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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…

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What's bad for the frackers usually is good for the rest of the world.

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

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Actually, high housing prices don't help the economy. They raise the cost of living.

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When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are…

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

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On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top…

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The contempt for law and the contempt for the human consequences of lawbreaking go from the bottom to the top of American society.

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When I hit bottom, I can attack the problem and get to where I want to be.

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If I had lost the popular vote but won the electoral college and in my first day as president the intelligence community came to me and said, "The Russians influenced the election," I would've never stood for it. Even though it might've advantaged me, I would've said, "We've got to get to the bottom of this." I would've set up…

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