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  • Michael Hudson Quote - One basic myth is that rich people get wealthy by earning income. But that’s not how most get rich. Most of the gains of the rich people since 1945 have been “capital gains”.
  • Michael Hudson Quote - One basic myth is that rich people get wealthy by earning income. But that’s not how most get rich. Most of the gains of the rich people since 1945 have been “capital gains”.
  • Michael Hudson Quote - One basic myth is that rich people get wealthy by earning income. But that’s not how most get rich. Most of the gains of the rich people since 1945 have been “capital gains”.
  • Michael Hudson Quote - One basic myth is that rich people get wealthy by earning income. But that’s not how most get rich. Most of the gains of the rich people since 1945 have been “capital gains”.
  • Michael Hudson Quote - One basic myth is that rich people get wealthy by earning income. But that’s not how most get rich. Most of the gains of the rich people since 1945 have been “capital gains”.
  • Michael Hudson Quote - One basic myth is that rich people get wealthy by earning income. But that’s not how most get rich. Most of the gains of the rich people since 1945 have been “capital gains”.
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One basic myth is that rich people get wealthy by earning income. But that’s not how most get rich. Most of the gains of the rich people since 1945 have been “capital gains”.

Michael Hudson

More Michael Hudson Quotes

  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Mathematically, debts grow exponentially at compound interest. Banks recycle the interest into new loans, so debts grow exponentially, faster than the economy can afford to pay.

    Mathematically, debts grow exponentially at compound interest. Banks recycle the interest into new loans, so debts grow exponentially, faster than the economy can afford to pay.

    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 - 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.

    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
  • 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 problems of 2008 were never cured. The Federal Reserve’s solution to the crisis was to lend the economy enough money to borrow its way out of debt.

    The problems of 2008 were never cured. The Federal Reserve’s solution to the crisis was to lend the economy enough money to borrow its way out of debt.

    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 - Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to support what the classical economists called “unproductive activity.” Download This Image

    Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to support what the classical economists called “unproductive activity.”

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want to take their money and run. That is the financial mentality.

    The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want to take their money and run. That is the financial mentality.

    MICHAEL HUDSON
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - The one sure mark of a con, though, is the promise of free money.

    The one sure mark of a con, though, is the promise of free money.

    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 Eurozone die is cast. Countries must withdraw from the euro so that governments can create their own money once again, and resist creditor demands to carve up and privatize their public domain.

    The Eurozone die is cast. Countries must withdraw from the euro so that governments can create their own money once again, and resist creditor demands to carve up and privatize their public domain.

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

    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
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - A bubble is only called that after it bursts, after the insiders get out, leaving the pension funds and small investors, Canadians and other naïve investors holding the bag. Download This Image

    A bubble is only called that after it bursts, after the insiders get out, leaving the pension funds and small investors, Canadians and other naïve investors holding the bag.

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

    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
  • Share on Facebook Tweet this! Share on LinkedIn Share on Whatsapp Share on Telegram Michael Hudson Quote - Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it’s a pro-Wall Street financial engineering gimmick. Download This Image

    Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it’s a pro-Wall Street financial engineering gimmick.

    MICHAEL HUDSON