2min chapter

The Joe Walker Podcast cover image

Housing Bubble Week Finale: It's The Housing Cycle, Stupid! - Ed Leamer

The Joe Walker Podcast

CHAPTER

The Macroeconomic Story of the US Recession

Lamont: There are four things that decline, first it's homes, then it's consumer durables, automobiles. And the last thing, and the most related is business structures, factories and office buildings. Lamont: In coming out in the recovery, exactly the same ordering occurs. He says this macroeconomic story or pattern describes nine out of the eleven last post war US recessions.

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