Home / Quotes / Quote by Michael Hudson

Quote by Michael Hudson

“When Hillary Clinton said she's going to do just what Obama does and we're going to continue to recover, most people know that we're not recovering at all. We're shrinking.”

Author

Michael Hudson

Michael Hudson is a renowned economist, born in 1939. He has conducted extensive research in the field of economics, particularly in finance, real estate, and debt. Professor Hudson has held teaching positions at several prestigious universities and has authored numerous publications on economic theory and policy. more

“People tend to think that paying a debt is like going out and buying a car, buying more food or buying more clothes. But it really isn't. When you pay a debt to the bank, the banks use this money to lend out to somebody else or to yourself. The interest charges to carry this debt go up and up as debt grows.”

People Thinking Use Grows Interest Pay Car Clothes Debt Buying Going Out Buying A Car

Author:Michael Hudson

“No, I don't think about the myth of the West. It's not the kind of thinking I do. That's more suited to people who live in big towns on the West Coast or East Coast, people who stay under a roof, in a room, all the time.”

People Thinking Kind Bigs Rooms Towns West Myth East Roof Coast West Coast East Coast

Author:Tommy Lee Jones

“As you have to pay more interest and amortization on what you owe, you're left with less and less money to buy goods and services - unless you borrow even more and go further into debt.”

Left Interest Pay Debt Goods Goods And Services

Author:Michael Hudson

“Basically, unless you're willing to write down debts and save the economy, you're going to have deflation and a steady drain in purchasing power - that is, shrinking markets.”

Writing Economy Willing Debt Steady Drains Shrinking Purchasing Purchasing Power Deflation

Author:Michael Hudson