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
What was said
"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.
Verification status
Attributed speaker claim
Egleze verified who said this and where. The underlying claim has not been independently established by Egleze.
Source and context
Egleze verified who said this and where. The underlying claim has not been independently established by Egleze.
- Programme
- Tom Bilyeu Impact Theory
- Episode
- Everything You Know About Government Debt Is Wrong | Steve Keen
- Clip time
- 25:09
- Original source
- Watch the source segment →
From this episode
Tom Bilyeu Impact Theory