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 Business Cycle in the US Economy

The economy has a healthy period and followed by these intermediate periods of time in which there's what's called an official recession. To me it's a disease that is symptomized by unwanted idleness. Here we have elevated unemployment rate. You had declining capital utilization and manufacturing. We have idle offices, idle apartments, idle homes. Something's gone wrong with our markets"

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