David McWilliams: The better the economy does, the more Covid-19 spreads
Bluntly, there will be no economic momentum as long as we have lockdowns
The lockdown robs us of future visibility ... In its stead, we get ingrained pessimism. Photograph: Gareth Chaney/Collins
In his Irish Times article today, my colleague Cliff Taylor asks “What happens next? How can economic momentum be built if we are facing rolling waves of restrictions”?
The honest answer is that economic momentum cannot be maintained with rolling lockdowns and, back in March, this is the reason I preferred to describe what we were experiencing as a “Pandession” rather a recession or depression.