New lockdowns could lead Europe into an economic depression

Daniel J. Lacalle

graphic image of lock with keyhole“The mistake of ignoring the economic impact of lockdowns creates a social crisis that may last many years. If the European economy was ill-prepared for a series of lockdowns in February, it is even weaker now. What created a recession of unexpected proportions may generate a depression that will likely last for a few years.

USAGOLD note:  Lacalle speaks to the issue as the United Kingdom regrettably goes into heightened restrictions that could be in place for up to six months.


Repost from 9-23-2020

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