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  • Michael Hudson Quote - In fact, there’s no way that banks can be paid everything that they’re owed. Download This Image
  • Michael Hudson Quote - In fact, there’s no way that banks can be paid everything that they’re owed.
  • Michael Hudson Quote - In fact, there’s no way that banks can be paid everything that they’re owed.
  • Michael Hudson Quote - In fact, there’s no way that banks can be paid everything that they’re owed.
  • Michael Hudson Quote - In fact, there’s no way that banks can be paid everything that they’re owed.
  • Michael Hudson Quote - In fact, there’s no way that banks can be paid everything that they’re owed.
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In fact, there’s no way that banks can be paid everything that they’re owed.

Michael Hudson

More Michael Hudson Quotes

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

    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 HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - If the economy is growing, people want to employ more workers. If you hire more labor, wages go up. Download This Image

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

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Education is something that should not be organized on a for-profit basis, because in that case its purpose is not really to provide an education. Download This Image

    Education is something that should not be organized on a for-profit basis, because in that case its purpose is not really to provide an education.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Britain is having a referendum as to whether to withdraw from the European Union, and it looks more and more like it may do so. So the world’s politics are in turmoil. Download This Image

    Britain is having a referendum as to whether to withdraw from the European Union, and it looks more and more like it may do so. So the world’s politics are in turmoil.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices go down by only 3%, the house will be in negative equity and it would pay the homeowner just to walk away and say, “The house now is worth less than the mortgage I owe.

    Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices go down by only 3%, the house will be in negative equity and it would pay the homeowner just to walk away and say, “The house now is worth less than the mortgage I owe.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - We’ve turned the post-war economy that made America prosperous and rich inside out.

    We’ve turned the post-war economy that made America prosperous and rich inside out.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Europe is creating the flight of refugees that’s tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the Eurozone.

    Europe is creating the flight of refugees that’s tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the Eurozone.

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

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

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

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

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - When you say “paying the banks,” what they really mean is paying the bank bondholders. They are basically the One Percent.

    When you say “paying the banks,” what they really mean is paying the bank bondholders. They are basically the One Percent.

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

    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
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.

    Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that’s not permitted with student loans. So the effect is to impoverish many graduates with very high debts.

    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