• 
• 
• 
• 
• 
• 

1. black
2. grey
3. blue
4. red
5. brown
6. white

You get a constituency; you make them believe your promises, and then you turn them over to your financial campaign backers. That’s what politics has become and that’s as much an art of deception as economics is.

Michael Hudson

Related Topics

Campaign

Popular Authors

Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

Prevoius| Next

More Michael Hudson Quotes

• 

  If the bank goes under, they get to keep all of these salaries and options – and the government will bail out the bank. These guys will take their money and run, which is pretty much what they’re doing now.

  MICHAEL HUDSON
  BankGoverenmentGuyMrun
• 

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

  MICHAEL HUDSON
  BadGoodWorld
• 

  It thought that if it could subsidize banks lending homeowners enough money to buy houses from people who are defaulting, then the bank balance sheets would end up okay.

  MICHAEL HUDSON
  HomeownerMoneyOkayPeopleSheets
• 

  Textbooks don’t teach people how to avoid paying any income tax. But that’s what an army of tax lawyers and corporate tax accountants do.

  MICHAEL HUDSON
  ArmyIncomePeople
• 

  If the economy is growing, people want to employ more workers. If you hire more labor, wages go up.

  MICHAEL HUDSON
  GrowingPeopleWages
• 

  New investment and employment fall off, and the economy is falls into a downward spiral.

  MICHAEL HUDSON
  DownwardEconomicEmploymentNewSpiral
• 

  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
  GonePeopleShrinking
• 

  While escalating war in Afghanistan and maintaining over 850 military bases around the world, the administration has run up the national debt that Smith decried.

  MICHAEL HUDSON
  AroundCountryDecoratedEscalatingMaintain
• 

  It’s amazing that Europe says, “What are we going to do with these refugees?” It’s as if it doesn’t realize that being part of NATO and bombing these countries forces them to choose to live by fleeing, or to stay and get bombed.

  MICHAEL HUDSON
  CountryFleeingPeoplePerson
• 

  I guess the main thing that came out of the Panama Papers was that Ukrainian President Poroshenko had promised to divest of his chocolate company and instead, he simply moved it into an offshore account.

  MICHAEL HUDSON
  ChocolateCountryGuessPeoplePromised
• 

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

  MICHAEL HUDSON
  DebtsGoodsIncomePayingServices
• 

  If you’re a wealthy heir with a trust fund, and you sell stocks, make your 10% gains since Donald Trump, and then you buy other stocks, you can avoid paying taxes. And if your accountant registers your wealth offshore in a Panamanian fund, like Russian kleptocrats do – and as more and more Americans do.

  MICHAEL HUDSON
  HeirsIncomePayingTaxes
• 

  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
  MakeOverParasiteSomethingTake
• 

  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 HUDSON
  CirculateSavingServicesSpending
• 

  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
  GoodLoansPercentSalaryStudent
• 

  The reason is that every recovery since 1945 has begun with a higher, and higher level of debt. The debt is so high now, that since 2008 we’ve been in what I call, debt deflation.

  MICHAEL HUDSON
  DebtDeflationHigherReason