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  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
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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

More Michael Hudson Quotes

  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - 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.

    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
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Trump’s junk economics is the illusion that if we cut the taxes on the wealthiest brackets, it’ll all trickle down. But it doesn’t trickle down.

    Trump’s junk economics is the illusion that if we cut the taxes on the wealthiest brackets, it’ll all trickle down. But it doesn’t trickle down.

    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 - Money is not a factor of production. But in order to have access to credit, in order to get money, in order to get an education, you have to pay the banks.

    Money is not a factor of production. But in order to have access to credit, in order to get money, in order to get an education, you have to pay the banks.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Small banks that lend to consumers are fine.

    Small banks that lend to consumers are fine.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - 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.

    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
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - 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.

    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
  • 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 - Debt deflation is when there’s less money that people have to spend out of their paychecks on goods and services, because they’re paying the FIRE sector. Oil going down is a function of the supply and demand of oil in the market. It’s a separate phenomenon.

    Debt deflation is when there’s less money that people have to spend out of their paychecks on goods and services, because they’re paying the FIRE sector. Oil going down is a function of the supply and demand of oil in the market. It’s a separate phenomenon.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - 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.

    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
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - I think the less fracking there is, the better it is for the economy and society.

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

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The ideological foundation of today’s business schools is that economic control should be shifted out of government hands into those of financial managers – that is, Wall Street.

    The ideological foundation of today’s business schools is that economic control should be shifted out of government hands into those of financial managers – that is, Wall Street.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The aim of promoting low down payments is to push prices back up so that fewer houses are going to be in negative equity and fewer people are going to walk away from the mortgages. That will save the from taking a loss on their junk mortgage loans.

    The aim of promoting low down payments is to push prices back up so that fewer houses are going to be in negative equity and fewer people are going to walk away from the mortgages. That will save the from taking a loss on their junk mortgage loans.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - 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.

    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
  • 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 - Either you can save the economy, or you can save the One Percent from losing a single penny.

    Either you can save the economy, or you can save the One Percent from losing a single penny.

    MICHAEL HUDSON