Very few of us actually need a debriefing on what went wrong in the economy over the past 18 months. Real estate construction, primarily precipitated by new housing starts, had gone wild. Fueled by “anyone who can fog a mirror can qualify for a mortgage” mortgage financing, prices for real estate skyrocketed virtually everywhere in [...]

This briefing was in the November 28th issue of The Week. It is probably one of the clearest explanations for how recessions occur and, most specifically, how they end. In the meantime, it tracks a number of specific recessions and how we got out of them. Specifically, note the supply demand access not only for [...]