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Quote by Marty Nemko

“What may create even more jobs is to develop more entrepreneurs, of course, ethical ones.”

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Marty Nemko is a career counselor and educational advisor, born on June 30, 1950. He is known for his unique approach to career planning and educational reform ideas. more

“People think of a business cycle, which is a boom followed by a recession and then automatic stabilizers revive the economy. But this time we can't revive. 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.”

People Thinking Reason Levels Economy Higher Debt Recovery Cycles Recessions Higher Level Revive Deflation

Author:Michael Hudson

“People have to pay so much money to the banks that they don't have enough money to buy the goods and services they produce. So there's not much new investment, there's not new employment (except minimum-wage "service" jobs), markets are shrinking, and people are defaulting. So many companies can't pay their banks.”

People Enough Jobs Pay Company Produce Investment Employment Goods Minimum Minimum Wage Shrinking Goods And Services

Author:Michael Hudson

“The banks' product is debt. They try to tell customers that "debts are good for you," but the customers can't afford any more debt, so there's no way the banks can continue their current business plan.”

Way Trying Plans Products Currents Debt Customers Business Plan

Author:Michael Hudson

“Basically, I was a hippie and still am a flower child.”

Children Stills Flower Hippie Flower Child

Author:Donna Karan

“In fact, there's no way that banks can be paid everything that they're owed.”

Way Facts Paid

Author:Michael Hudson

“We're at the end of long cycle that began in 1945, loading the economy with debt. We're not going to be able to get out of it until you write down the debts. But that's what the IMF believes is unthinkable. It can't say that, because it's supposed to represent the interest of the banks.”

Writing Believe Long Ends Able Interest Economy Debt Cycles Unthinkable Imf

Author:Michael Hudson

“There really isn't a recovery, and no signs of it on the horizon, because people have to pay the banks. It's a vicious circle - or rather, a downward spiral.”

People Pay Circles Recovery Horizon Vicious Spirals Vicious Circles Downward Spiral

Author:Michael Hudson

“If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent of your paycheck for the FICA for Social Security wage withholding. 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.”

Quote by Marty Nemko

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