by James Rickards
The economy remains under lockdown, although some states are beginning to relax restrictions. As with so many other aspects of American life, there’s been a red state/blue state divide.
Red states are generally more willing to reopen their economies, while harder-hit coastal blue states are generally more reluctant to open theirs.
Regardless, the economic consequences of the lockdown have been devastating, and we’ll be feeling their effects for a very long time. We’ll also be feeling the effects of the massive monetary and fiscal responses to the crisis for a long time.
There are so many government “stimulus” programs underway to deal with the New Depression it’s hard to keep track.