Rather, the business cycle reflects fluctuations in the rate of technological progress, which are amplified by the rational response of workers, who voluntarily work more when the environment is favorable and less when it’s unfavorable.
Unemployment is a deliberate decision by workers to take time off.
But there was something else going on: a general belief that bubbles just don’t happen. What’s striking, when you reread Greenspan’s assurances, is that they weren’t based on evidence — they were based on the a priori assertion that there simply can’t be a bubble in housing. And the finance theorists were even more adamant on this point. In a 2007 interview, Eugene Fama, the father of the efficient-market hypothesis, declared that “the word ‘bubble’ drives me nuts,†and went on to explain why we can trust the housing market: “Housing markets are less liquid, but people are very careful when they buy houses. It’s typically the biggest investment they’re going to make, so they look around very carefully and they compare prices. The bidding process is very detailedâ€
So any out there not working has decided on there won to help the county out of this problem, and you guys who lost what I pay for on my vacations are no really out any thing and every thing is prefect..
Care to read more about the people who have been running the show since 1980 or so and still due today and their vision of how every thing works, here the link, but warning this is heavy reading about economics for the sake of economics ( and not to make money )
http://www.nytimes.com/2009/09/06/magaz ... ted=1&_r=1
just reporting it, I live in the real world and understand it does not work that way-it is not that simple