Michael Hudson Quotes:
Ocupation: Professor
Life: b. 1939
Deflation is a leakage from this circular flow, to pay banks and the real estate, called the FIRE sector - finance, insurance and real estate. These transfer payments leave less and less of the paycheck to be spent on goods and services, so markets shrink.
source: Source: www.counterpunch.org
topic: Real, Fire, Pay, Leakage, Deflation
