An L-Shaped Recovery Is Not an Anomaly, It Is the Norm | Daniel Lacalle
Channel: misesmedia
Date: 03/06/2020

The massive bailout of indebted sectors that already had overcapacity and were in process of obsolescence may also drive the largest wave of malinvestment in decades. If the previous recoveries came with poor wage and capital expenditure growth and high debt, the next one will likely be even worse.

Original Article: https://mises.org/wire/l-shaped-recovery-not-anomaly-it-norm

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