The real estate interests and banks are in a kind of symbiosis. They're the largest-growing part of the … - Michael Hudson

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We all have different desires and needs, but if we don't discover what we want from ourselves and what we stand for, we will live passively and unfulfilled. Sooner or later, we are all asked to compromise ourselves and the things we care about. We define ourselves by our actions. With each decision, we tell ourselves and the world who we are. Think about what you want out of this life, and recognize that there are many kinds of success.

Michael Hudson

The real estate interests and banks are in a kind of symbiosis. They're the largest-growing part of the economy. This is the sector that backs the political campaigns of senators, presidents and congressmen, and they use this leverage to make sure that their people dominate the Federal Reserve, Treasury and the federal housing agencies.

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We go forward with our heads held high, but look back and remember where we come from.

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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 by lending to the bottom 95%, or the bottom 99%. When you give them more after-tax income, it enables them to buy even more control of government, even more control of election campaigns. They're not going to spend this money back into the goods-and-services economy.

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

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So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages, credit cards, student loans, bank loans and other obligations that they have less to spend on goods and services. So markets shrink. New investment and employment fall off, and the economy is falls into a downward spiral.

Fall, Markets, Mean, People, Service

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.

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