Michael Hudson Quotes About Pensions

Quotes about: Pensions

• 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

  America, Rolling, Argentina

  Source: www.counterpunch.org

• You have to abolish pension plans. You have to abolish social spending. You have to raise taxes. You have to have at least fifty percent of the European population emigrate, either to Russia or China. You would have to have mass starvation. Very simple. That's the price that the Eurozone thinks is well worth paying.

  Michael Hudson

  Simple, Thinking, Pension Plans

  Source: www.counterpunch.org

• The only way people can repay the debt is by cutting their living standards very drastically. It means agreeing to shift their pension plans from defined benefit plans - when you know what you're going to get - into just "defined contribution plans," where you put money in, like into a roach motel, and you don't know what's coming out.

  Michael Hudson

  Mean, Cutting, Pension Plans

  Source: www.counterpunch.org

• The IMF acts as the collection agent for global bondholders. Its projections begin by assuming that all debts can be paid, if economies will cut wages and wiping out pension funds so as to pay banks and bondholders.

  Michael Hudson

  Cutting, Assuming, Economy

  Source: www.counterpunch.org

• A bubble is only called that after it bursts, after the insiders get out, leaving the pension funds and small investors, Canadians and other naïve investors holding the bag.

  Michael Hudson

  Leaving, Bags, Fund

  Source: www.counterpunch.org

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