"Far from austerity being a policy of reducing debt, it is simply a mechanism for transferring the debt burden (that governments incurred from bailing out the banks) to individuals."
"Banks gain by making labour pay more interest, fees and penalties on mortgages, and for student loans, credit cards and auto loans. That’s the postindustrial financial mode of exploiting labour and the overall economy." Michael Hudson
"By draining resources from the real economy, financial sector growth becomes a drag on real growth." Bank for International Settlements
"Next time someone says to you ‘we need to get the debt down’ ask them: whose debt? Government debt is perfectly manageable with almost zero interest currently being paid on it; whereas personal debt is a ticking-time bomb."