Top 50 Michael Hudson Quotes (2024 Update) [Page 2]

51. “One of the big problems in America’s economic polarization and shrinkage is that pensions can’t be paid. So there are going to be defaults on pensions here, just like Europeans are insisting in rolling back pensions. You can look at Greece and Argentina as the future of America.”

— Michael Hudson

52. “Debt leveraging is a major reason why the United States and Britain have lost their industrial advantage. Debt-inflated costs for housing, education and other basic needs have priced their labor out of markets abroad and at home.”

— Michael Hudson

53. “Eurozone financial institutions have sought to impose Latvia’s “model” austerity on Ireland, Spain and Portugal – and most of all, on Greece, which is being made an object lesson of how creditor powers will treat countries that try to extricate themselves from debt, unemployment, privatization, emigration and demographic collapse.”

— Michael Hudson

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