by Finn Andreen, Mises Institute:
An economic cataclysm has been unleashed upon the world by Western politicians and bureaucrats. Unbelievably, economic activity in the West has slowed to a creep, as entire populations have been confined to their homes for weeks, if not months. As a result, millions have had their lives turned upside down. Most entrepreneurs and self-employed persons have had their livelihoods jeopardized.
The EU economy may shrink by 5 percent according to the European Central Bank (ECB), and similar figures have been forecast for the US. The economic devastation wrecked upon Western economies by governments will have consequences for many years to come. It will inevitably lower European and US citizens’ quality of life for a long time, impacting their health as well.