The IMF acts as the collection agent for global bondholders. Its projections begin by assuming that all debts can be paid, if economies will cut wages and wiping out pension funds so as to pay banks and bondholders.
The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to … - Michael Hudson
The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to …
- Michael Hudson
A stand in is a politician who can deliver her constituency to her Wall Street backers. That's what a politician does in America. You get a constitue… - Michael Hudson
A stand in is a politician who can deliver her constituency to her Wall Street backers. That's what a politician does in America. You get a constitue…
Debts grow and grow. And the more they grow, the more they shrink the economy. When you shrink the economy, you shrink the ability to pay the debts, … - Michael Hudson
Debts grow and grow. And the more they grow, the more they shrink the economy. When you shrink the economy, you shrink the ability to pay the debts, …
The one sure mark of a con, though, is the promise of free money. - Michael Hudson
The one sure mark of a con, though, is the promise of free money.
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. - Michael Hudson
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.
You have a choice. Either you can have more oil, or more clean water. Fracking is not good for the water supply. - Michael Hudson
You have a choice. Either you can have more oil, or more clean water. Fracking is not good for the water supply.
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 clas… - Michael Hudson
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 clas…
What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they load it down with debt. They make their money… - Michael Hudson
What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they load it down with debt. They make their money…
The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial man… - Michael Hudson
The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial man…
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