Sunday, January 17, 2021

Tag: Reopening in Words Only?

Reopening in Words Only?

by Paul Craig Roberts, Paul Craig Roberts:

The “reopenings” underway in 30 states in the US might be in words only just as the ballyhooed “open” Swedish economy is not open in fact and has been closed by non-participation.  The Swedish Riksbank reports that attendance at cinema, events, and sports is off 90%.  Business at restaurants and cafes is down 70%, and the hotel occupancy rate is a meager 10%.  The overall Swedish economy has declined 11%—more than the current estimate for the US—and consumer confidence surveys have plunged more in Sweden than in Europe as a whole.