Alan Greenspan spent an hour on CNBC's Squawk Box this morning and expressed an opinion that borders on the obvious. He said that the nation's emergence from the economic downturn depends on higher employment levels, and that employment levels cannot return to a reasonable level until the housing industry resumes building a large number of homes. Until housing recovers, there will not likely be employment recovery. There are few who disagree that unemployment levels, the housing industry, and the general economic condition of this country are dependent on each other. There is some disagreement on which is the cause of what, but that does not affect the fact that each is either the cause or effect of the other. There is some disagreement on the role of government in improving the si...
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