Michael Hudson Quotes About Balance

Quotes about: Balance

• The problems of 2008 were never cured. The Federal Reserve's solution to the crisis was to lend the economy enough money to borrow its way out of debt. It thought that if it could subsidize banks lending homeowners enough money to buy houses from people who are defaulting, then the bank balance sheets would end up okay.

  Michael Hudson

  People, House, Balance

  Source: www.counterpunch.org

• Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing part of the economy in every country has been the Finance, Insurance and Real Estate (FIRE) sector, which comprises the rent and interest paid to the economy's balance sheet of assets by debtors and rent payers.

  Michael Hudson

  Country, Real, Thinking

  Source: www.counterpunch.org

• When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are always two sides to the balance sheet. And one party’s money or savings is another party

  Michael Hudson

  Party, Balance, Speak

  Source: www.counterpunch.org

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