The Covid era allowed governments to paper over a long list of imminent crises. Extreme fiscal policy kept economies on life support. Extreme monetary policy kept bond markets from crashing… too quickly. Travel restrictions locked down international borders. Lockdowns prevented protests… unless they were for woke causes.
But with the end of Covid’s emergency measures, those old crises are threatening to make an unruly comeback. They were only ever temporarily suppressed by the pandemic’s blanket suspension of the “rules”.
European sovereign debt levels are dangerously high.
Demographics risk tipping societies into dysfunction.
Illegal immigration is causing even leading EU politicians to suggest a border fence might be a good idea.
Net zero’s impossible goals are bearing down on us. As are the policies designed to achieve them.
Now that crises are allowed again, which crises will make a comeback, bigger than ever?
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Editor, Fortune & Freedom