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Quote by William Forstchen

“If we all but had twenty-four hours more to live, what would we do? And for nearly all, the answer was 'Spend it with the ones I love.”

Quote by William Forstchen

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William Forstchen

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“Surprising as it may seem today, classical ideas of creating a free market were to be achieved by “socialist” reforms. Their common aim was to protect populations from having to pay prices that included a non-labor rent or financial tax to pay landlords and natural resource owners, monopolists and bondholders. The vested interests railed against public regulation and taxation along these lines. They opposed public ownership or even the taxation of land, natural monopolies and banking. They wanted to collect rent and interest, not make land, banking and infrastructure monopolies public in character.”

InterestCapitalismSocialismDebt BondageRentier ClassMichael HudsonEconomic Rent
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“When the volume of debt has grown as large as national income or GDP, and when it bears an interest rate (typically 5%) above the economy’s rate of growth (typically just 1% to 2%), then all the growth in national income is taken by the creditors.”

CapitalismDebtSocialismRentier ClassMichael HudsonEconomic RentJunk Economics
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“In fact, they are not taught in any university departments: the dynamics of debt, and how the pattern of bank lending inflates land prices, or national income accounting and the rising share absorbed by rent extraction in the Finance, Insurance and Real Estate (FIRE) sector. There was only one way to learn how to analyze these topics: to work for banks. Back in the 1960s there was barely a hint that these trends would become a great financial bubble.”

CapitalismSocialismDebt BondageRentier ClassMichael HudsonEconomic RentFinance Captialism
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“Popular morality blames victims for going into debt – not only individuals, but also national governments. The trick in this ideological war is to convince debtors to imagine that general prosperity depends on paying bankers and making bondholders rich – a veritable Stockholm Syndrome in which debtors identify with their financial captors.”

Debt BondageRentier ClassFinance CapitalismMichael Hudson
Book:Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy
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