Money
Keen links credit swings to unemployment, citing a -0.93 correlation
Tom Bilyeu Impact Theory
Everything You Know About Government Debt Is Wrong | Steve Keen
"When I look at this data between 1990 and 2015, the correlation between credit and the unemployment rate is minus.93."
Keen says changes in bank credit are a primary driver of economic cycles and labour-market outcomes, arguing the relationship is visible in US data. He presents the figure as evidence that “credit goes up, unemployment goes down” and vice versa—contrary, he says, to standard textbook models.
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Tom Bilyeu Impact Theory