Michael Hudson (economist)

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

— Michael Hudson (economist)

If you look at the speeches he gave just before he left the Fed, it's pretty much “After me - the Deluge. I'm getting out while my reputation's intact”.

— Michael Hudson (economist)

To the deficit commission, a depression is the solution to the problem, not a problem.

— Michael Hudson (economist)

...if you increase living standards you make labor more productive. This is why Asia today is becoming more productive than the United States.

— Michael Hudson (economist)

You could say that GDP (National Income) and prosperity and wealth grows fastest when income tax rates are highest. And wealth slows, the economy slows, when taxes are cut. That's counter intuitive but if you look at any chart comparing tax rates and economic growth rates that's what you find. The 19th century knew it, the 18th century knew it but today you have a kind of counter revolution of junk economics that is basically anti-labor economics.

— Michael Hudson (economist)

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 carry this debt. … The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real estate prices rather than to build new factories and employ more labor.

— Michael Hudson (economist)