"There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans."

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Source : Source: www.counterpunch.org

Michael Hudson

#Running Quotes #Thinking Quotes #Two Quotes

“One genius is about all a house will hold.”
“If you really want to know how a person will operate, look at how they've lived their life.”
“You are forever alone.”
“I myself share with the Conservative Party a profound dislike for such fandangles as proportional representation.”
“The most permanent lessons in morals are those which come, not of book teaching, but of experience.”
“And the days went by like paper in the wind. Everything changed, then changed again. It's hard to find a friend. It's hard to find a friend.”
“Better a little which is well done, than a great deal imperfectly.”
“I'm not one of those actors who's very good at having a list of roles that I want to play someday - which is bad, because I really need to do it. I have people in theaters ask me what I want to do and I don't have an answer!”

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