A Quote by Michael Hudson

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

Quote Topics

America Argentina Back Big Big Problem Big Problems Economic Europeans Future Future Of America Going Greece Insisting Just Like Look Paid Pensions Polarization Problems Rolling Shrinkage

Quote Author

Michael Hudson
American - Professor
Born: 1939

There are tons of examples of U.K. and European mistakes. A classic one is pensions. That's obviously not an America-specific thing. The British and European economies are suffering under the weight of what is to come. The next great Ponzi scheme after Madoff is probably pensions.

Dambisa Moyo

In England pensions used to be given to aristocrats, because aristocrats had political influence, in order to corrupt them. Here pensions are given to the great democratic mass, because they have political power, to corrupt them.

William Graham Sumner

The Europeans waited so long that they are impacting people who depend on their pensions. We are still early enough to fix it for the next generation. A few states have started scaling back their programs, while others have come hat in hand for billion-dollar federal bailouts.

Tim Griffin

I respect the state workers and I respect their unions, but we simply can't afford to pay benefits and pensions that are out of line with economic reality.

Andrew Cuomo

I do believe in pensions.

Richard C. Armitage

When Matt Bevin tried to bully teachers and illegally cut their pensions, I proudly stood with them to fight back and win.

Andy Beshear

There's no pensions for old prize fighters.

Jake LaMotta

Public employee unions, in their defense, say politicians have unfairly made them into simplistic bogeymen, responsible for problems that have myriad causes. Not all government workers receive generous pensions, they note.

Charles Duhigg

So virtuous are the programs said to be - pensions for the elderly, compensation for the unemployed, medicine for the sick, and assistance for the disabled - few dare ring the alarm of looming economic catastrophe that threatens to destabilize the civil society.

Mark Levin

Let's also teach people about pensions and savings, insurance and the like. But if they aren't already familiar with numbers that won't be as effective as it might be.

George Osborne

The U.K. is one of the few places in the world that has final salary pensions.

Jim Ratcliffe

Democrats must adopt a progressive economic message that focuses on large, direct infrastructure investments, affordable health care, portable pensions, and public-private investments that promote advanced manufacturing.

Tim Ryan

I've had two pensions each that have gone down by 50%.

June Brown

As it has over the decades, the union movement stands for the fundamental moral values that make America strong: quality education for our children, affordable health care for every person-not just some-an end to poverty, secure pensions and wages that enable families to sustain the middle-class life that has fueled this nation's prosperity and strength. Union members and other working family activists don't just vote our moral values-we live them. We fight for them, day in, day out. Our commitment to economic and social justice propels us and everything we do.