Eurocrats might be able to get tables in their favoured restaurants more easily while national governments take it on the chin. But this is a temporary situation which could easily evolve into a threat against the union.
As the nation-states take the brunt of their economic collapses on the chin, they will begin to realise that the EU superstate is little more than an obstructive and costly irrelevance.
The Italians could learn some lessons about healthcare from the South Koreans, who still maintain a robust private market in health insurance. Although the Koreans have relatively ample resources for COVID-19 patients, Italy's state-dominated system is quickly running out of options.
The Federal Reserve's monumental mistake of cutting rates this past week can only be understood in the context of the rising God complex of central planners: an overwhelming combination of ignorance and arrogance.
The coronavirus impact adds to an already weak and bloated global economy that was showing poor growth, high debt, and an evidently disappointing earnings season before any epidemic was included in estimates.
There are echoes of the 1973 oil shock in the current virus scare and resulting economic seize-up. Central banks are likely to respond similarly: with "stimulus" and inflation.
Trump clearly views trade in a zero-sum, mercantilist manner, with the country possessing a deficit “losing” and “down.” But continuing the trade war only makes recession more likely for both sides. Luckily China is stalling on committing to a trade agreement.
Allowing the market to operate with minimal government intervention has helped Chile become one of the freest and wealthiest countries in South America, especially when compared to its direct neighbors.
Antisecessionists insist that radical decentralization means more "nationalism" and protectionism. In practice, the exact opposite is more likely.
Like Trump, I want China to stop manipulating its economy. But not for the same reasons Trump does.
