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I think the less fracking there is, the better it is for the economy and society.

  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The other dynamic keeping the stock market up – both for technology stocks and others – is that companies are using a lot of their income for stock buybacks and to pay out higher dividends, not make new investment,.

    The other dynamic keeping the stock market up – both for technology stocks and others – is that companies are using a lot of their income for stock buybacks and to pay out higher dividends, not make new investment,.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - More and more money is being extracted from of the production and consumption economy to pay the FIRE sector. That’s what causes debt deflation and shrinks markets. If you pay the banks, you have less to spend on goods and services.

    More and more money is being extracted from of the production and consumption economy to pay the FIRE sector. That’s what causes debt deflation and shrinks markets. If you pay the banks, you have less to spend on goods and services.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - You’re having government spending on the economy being cut almost everywhere. That means that the only source of spending for growth has to come from borrowing from the banking system. Download This Image

    You’re having government spending on the economy being cut almost everywhere. That means that the only source of spending for growth has to come from borrowing from the banking system.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Paying debt service to banks leaves less income to buy goods and services. Download This Image

    Paying debt service to banks leaves less income to buy goods and services.

    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
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it’s a pro-Wall Street financial engineering gimmick. Download This Image

    Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it’s a pro-Wall Street financial engineering gimmick.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The bankers are the people running these banks. They’re the chief officers, and they push the loans because they don’t care if they go bad. For one thing, they may package these bad loans and sell them off to gullible institutional investors.

    The bankers are the people running these banks. They’re the chief officers, and they push the loans because they don’t care if they go bad. For one thing, they may package these bad loans and sell them off to gullible institutional investors.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - It will make his fellow developers rich, and it will make the banks that finance this infrastructure rich, but the people are going to have to pay for it in a much higher cost for transportation.

    It will make his fellow developers rich, and it will make the banks that finance this infrastructure rich, but the people are going to have to pay for it in a much higher cost for transportation.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The result of this anti-classical revolution you had just before World War I was that today, almost all the economic growth in the last decade has gone to the One Percent. It’s gone to Wall Street, to real estate. Download This Image

    The result of this anti-classical revolution you had just before World War I was that today, almost all the economic growth in the last decade has gone to the One Percent. It’s gone to Wall Street, to real estate.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Deflation is a leakage from this circular flow, to pay banks and the real estate, called the FIRE sector – finance, insurance and real estate. These transfer payments leave less and less of the paycheck to be spent on goods and services, so markets shrink. Download This Image

    Deflation is a leakage from this circular flow, to pay banks and the real estate, called the FIRE sector – finance, insurance and real estate. These transfer payments leave less and less of the paycheck to be spent 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 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 - I think I’m just going to move out and buy a cheaper house.” So it’s very risky when you have only a 3% or 3.5% equity for the loan. The bank really isn’t left with much cushion as collateral. Download This Image

    I think I’m just going to move out and buy a cheaper house.” So it’s very risky when you have only a 3% or 3.5% equity for the loan. The bank really isn’t left with much cushion as collateral.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The one sure mark of a con, though, is the promise of free money.

    The one sure mark of a con, though, is the promise of free money.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - 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 on earning money for what they can spend. Download This Image

    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 on earning money for what they can spend.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Europe is acting in a very self-destructive manner, but is doing so because it’s trying to be loyal to the United States.

    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
  • 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