New lockdowns could lead Europe into an economic depression
“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