There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they’ve run up – to pay their mortgage debt, to pay the credit card debt, to pay student loans.
MICHAEL HUDSON
MICHAEL HUDSON
Michael Hudson on running
Michael Hudson38 quotes“There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they’ve run up – to pay their mortgage debt, to pay the credit card debt, to pay student loans.”
More from Michael Hudson
Buddha might be the one thing that could settle Godzilla down. He might say, “Listen Godzilla, you don’t have to do all this. Just chill out a little bit and everything will be fine”.
Brad WarnerBrad Warner These $100 bills aren’t meant to circulate. They’re not to spend on goods and services. They’re a store of value. They’re a form of saving.
Michael HudsonMichael Hudson I don’t aim to offend.
Billy ConnollyBilly Connolly On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top of the pyramid.
Michael HudsonMichael Hudson Emotional stability and expression comes from women.
Bob HoskinsBob Hoskins If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way up, investment and savings going up.
Michael HudsonMichael Hudson When people are running up more and more debt for housing, they call that “real wealth.” It exposes what’s wrong in the mainstream economics and why most of the economics that justifies austerity programs and economic shrinkage is in the textbooks is not scientific.
Michael HudsonMichael Hudson A science is not mere knowledge, it is knowledge which has undergone a process of intellectual digestion. It is the grasp of many things brought together in one, and hence is its power; for, properly speaking, it is Science that is power, not Knowledge.
John Henry NewmanJohn Henry Newman Russia was under the impression that the neoliberal advisors were going to make Russia as rich as the United States. What they really did was create a kleptocracy that was virtually tax-free.
Michael HudsonMichael Hudson When you say “paying the banks,” what they really mean is paying the bank bondholders. They are basically the One Percent.
Michael HudsonMichael Hudson I didn’t really care if I had a coach that much, me personally, because I was brought up to think for myself.
Billie Jean KingBillie Jean King Seventy-eight percent of millennials are worried about not having enough good paying job opportunity to pay off their student loans. Seventy-four percent can’t pay the health care if they get sick.
Michael HudsonMichael Hudson People are putting their money into treasuries because they worry that the risk of putting their money into the bond market, the stock market or even the money markets is very high.
Michael HudsonMichael Hudson We know smoking tobacco is not good for kids, but a lot of other things aren’t good. Drinking’s not good. Some would say milk’s not good.
Bob DoleBob Dole I think the less fracking there is, the better it is for the economy and society.
Michael HudsonMichael Hudson To ask a politician to lead us is to ask the tail of a dog to lead the dog.
R. Buckminster FullerR. Buckminster Fuller
Original quotes
From our community writers
They bleed not in the mouth but through their ink – indelible and dark.
Juana GarciaJuana Garcia I would rather shoot my arrows than keep them in my bow, I would rather risk it all than risk nothing at all.
ShamaShama I wish I knew then all of the things I know now that I am enough.
TMCTMC I feel like I’m on fire, fighting for a moment on respite – I’m not placing bets.
M.K. StandbyM.K. Standby I found him in all the chaos, and that was when my world started making sense again.
MoomerMoomer The judgement that people cast on you for how you do or do not appear is nothing more than just a projection of their own wounds.
Taj AroraTaj Arora Be grateful for what you have now, even if it’s not everything you wanted.
Sonia SabnisSonia Sabnis It seems strange how we look in the same mirror, yet what stares back, is so painfully different.
Chris AllchinChris Allchin
More on running
Democracy may not prove in the long run to be as efficient as other forms of government, but it has one saving grace: it allows us to know and say that it isn’t.
Bill MoyersBill Moyers I think that it’s important if you run for President that you have to make those important decisions. And your father, if he can help, probably, he helps just by being your father without getting intimately involved.
Birch BayhBirch Bayh I don’t know if the presidential candidates are running for the White House or Animal House.
Bob HopeBob Hope The advice I have for beginners is the same philosophy that I have for runners of all levels of experience and ability — consistency, a sane approach, moderation and making your running an enjoyable, rather than dreaded, part of your life.
Bill RodgersBill Rodgers I worked out of desperation. I used to hit fast and run in hopes that people wouldn’t realize that I really couldn’t do anything.
Betty HuttonBetty Hutton In youth we run into difficulties. In old age difficulties run into us.
Beverly SillsBeverly Sills I find that if I use my time well and take care of my mind/body when I’m outside of work, then I feel more supported throughout my day. So, instead of waking up and going straight for my cell phone or running to the gym.
Beth RiesgrafBeth Riesgraf Careful as they may be, developers of Eiffel libraries will always run into cases in which, after releasing a library class, they suddenly experience what in French is called esprit de l’escalier or wit of the staircase: a great thought which unfortunately is an afterthought.
Bertrand MeyerBertrand Meyer