• 
• 
• 
• 
• 
• 

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

• 

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

  MICHAEL HUDSON
  BadGoodWorld
• 

  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
• 

  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
  CardsCreditFallLoanMeanPeople
• 

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

  MICHAEL HUDSON
  CountryRealThinking
• 

  You have to abolish pension plans. You have to abolish social spending. You have to raise taxes.

  MICHAEL HUDSON
  PensionPlansSimpleThinking
• 

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

  MICHAEL HUDSON
  EconomyFrackingThinking
• 

  Once the speculative demand ended, all of a sudden the added production facilities that had been brought into production by the high prices went out of production again, and there was a glut.

  MICHAEL HUDSON
  DemandEndedGlutOnceProduction
• 

  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
  BankerLoanPackageRunningThink
• 

  When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are always two sides to the balance sheet. And one party’s money or savings is another party

  MICHAEL HUDSON
  AccountingBalanceBookkeepingPartySpeak
• 

  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
• 

  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 HUDSON
  CountryInvestmentPeopleTrade
• 

  The United States Government has fought against creation of an international court to adjudicate the ability of national economies to pay debts.

  MICHAEL HUDSON
  AbilityCreationEconomy
• 

  The problem is indeed that one party’s debt finds its counterpart in some other party’s savings. Not paying debts therefore involves annulling some other party’s financial claims on the debtor.

  MICHAEL HUDSON
  AnnullingCounterFinancialProblem
• 

  Economists often define their discipline as “the allocation of scarce resources among competing ends.” But when resources or money really become scarce, economists call it a crisis and say that it’s a question for politicians, not their own department.

  MICHAEL HUDSON
  CrisisDisciplinePolitician
• 

  Much higher cost for all the infrastructure that he’s proposing. You could call Trump’s plan “public investment to create private profit”. That’s really his plan in a summary.

  MICHAEL HUDSON
  InvestmentPlanProposingSummary
• 

  you’ll load the company you take over with debt. But you don’t have to pay taxes on the profits that you pay out in this way. You can deduct the interest from your tax liability.

  MICHAEL HUDSON
  CompanyLiabilityOverPayProfitTax