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  • Michael Hudson Quote - Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.
  • Michael Hudson Quote - Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.
  • Michael Hudson Quote - Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.
  • Michael Hudson Quote - Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.
  • Michael Hudson Quote - Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.
  • Michael Hudson Quote - Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.
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Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.

Michael Hudson

More Michael Hudson Quotes

  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Somehow most people believed they could get rich by going into debt to borrow assets that were going to rise in price. But you can’t get rich, ultimately, by going into debt. In the end the creditors always win.

    Somehow most people believed they could get rich by going into debt to borrow assets that were going to rise in price. But you can’t get rich, ultimately, by going into debt. In the end the creditors always win.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The price decline is a result of having to pay debts. That drains income from the circular flow between production and consumption – that is, between what people are paid when they go to work, and the things that they buy.

    The price decline is a result of having to pay debts. That drains income from the circular flow between production and consumption – that is, between what people are paid when they go to work, and the things that they buy.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Europe is sort of like the Soviet Union in the ’30s and ’40s. There was an argument, is it reformable or not? There is a feeling, and I think it’s correct, that the European Union, the eurozone, and the euro, is not reformable, as a result of the Lisbon treaties and the other treaties that have created the euro.

    Europe is sort of like the Soviet Union in the ’30s and ’40s. There was an argument, is it reformable or not? There is a feeling, and I think it’s correct, that the European Union, the eurozone, and the euro, is not reformable, as a result of the Lisbon treaties and the other treaties that have created the euro.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages, credit cards, student loans, bank loans and other obligations that they have less to spend on goods and services. So markets shrink.

    So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages, credit cards, student loans, bank loans and other obligations that they have less to spend on goods and services. So markets shrink.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Most people think of the economy as producing goods and services and paying labor to buy what it produces.

    Most people think of the economy as producing goods and services and paying labor to buy what it produces.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - This means that they’ve gone down especially for Blacks and Hispanics and other blue-collar workers. Their net worth has actually turned negative, and they don’t have enough money to get by. Download This Image

    This means that they’ve gone down especially for Blacks and Hispanics and other blue-collar workers. Their net worth has actually turned negative, and they don’t have enough money to get by.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - You have to pay medical care, you have to pay the banks for your credit card debt, student loans. Then you only have about twenty-five or thirty-five percent, maybe one-third of your salary to buy goods and services. That’s all.

    You have to pay medical care, you have to pay the banks for your credit card debt, student loans. Then you only have about twenty-five or thirty-five percent, maybe one-third of your salary to buy goods and services. That’s all.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The parasite can’t simply come in and take something. First of all, it needs to numb the host. It has an enzyme so that the host doesn’t realize the parasite’s there. Download This Image

    The parasite can’t simply come in and take something. First of all, it needs to numb the host. It has an enzyme so that the host doesn’t realize the parasite’s there.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - People think of a parasite as simply taking money, taking blood out of a host or taking money out of the economy. But in nature it’s much more complicated.

    People think of a parasite as simply taking money, taking blood out of a host or taking money out of the economy. But in nature it’s much more complicated.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - I would much rather have an ineffective president than someone who’s going to do these bad things that I fear is going to come from Hillary and the Democratic Party.

    I would much rather have an ineffective president than someone who’s going to do these bad things that I fear is going to come from Hillary and the Democratic Party.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - When we say “people worry” about inflation, it’s mainly bondholders that worry. The labor force benefitted from the inflation of the ’50s, ’60s and ’70s.

    When we say “people worry” about inflation, it’s mainly bondholders that worry. The labor force benefitted from the inflation of the ’50s, ’60s and ’70s.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - We’ve turned the post-war economy that made America prosperous and rich inside out.

    We’ve turned the post-war economy that made America prosperous and rich inside out.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Most of these charges that people pay are economically unnecessary. There’s no real cost behind them. There’s no real value behind them. So, they’re what the classical economist called empty pricing. Prices with no real cost value. Download This Image

    Most of these charges that people pay are economically unnecessary. There’s no real cost behind them. There’s no real value behind them. So, they’re what the classical economist called empty pricing. Prices with no real cost value.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The myth is that if housing prices go up, Americans will be richer. What banks – and behind them, the Federal Reserve – really want is for new buyers to be able to borrow enough money to buy the houses from mortgage defaulters, and thus save the banks from suffering from more mortgage defaults.

    The myth is that if housing prices go up, Americans will be richer. What banks – and behind them, the Federal Reserve – really want is for new buyers to be able to borrow enough money to buy the houses from mortgage defaulters, and thus save the banks from suffering from more mortgage defaults.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their pension plans from defined benefit plans.

    The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their pension plans from defined benefit plans.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - This is the sector that backs the political campaigns of senators, presidents and congressmen, and they use this leverage to make sure that their people dominate the Federal Reserve, Treasury and the federal housing agencies. Download This Image

    This is the sector that backs the political campaigns of senators, presidents and congressmen, and they use this leverage to make sure that their people dominate the Federal Reserve, Treasury and the federal housing agencies.

    MICHAEL HUDSON