April 5, 2012
"One quarter of all American real estate today owes more money on the mortgage than it actually is worth. That means one quarter of homeowners—almost ten million people—could walk away from their property and come out ahead on their balance sheet. Donald Trump would walk away. Certainly, Goldman Sachs walks away from bad investments. But individuals are told that their debt should be paid, that only the debts of the rich don’t have to be paid. Only the debts of the 99% to the rich have to be paid. And there’s a shift in the understanding of how the economy works."

— Michael Hudson (via theamericanbear)

(via sociopoliticaldribble)

3:16pm  |   URL: http://tmblr.co/ZmCeYyJ8Fhci
(Notes: 131)
  
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