There is no doubt about it: the UK and many other European countries are already in a depression. We think of a depression as even worse than a recession – as a sustained, long-term downturn in economic activity in one or more economies. A depression is generally deeper and longer lasting than a recession. As the daily drama of the Covid-19 count continues to scare everyone senseless, there is another a key indicator of economic rather than physical health that we also need to pay close attention to. That is how much unemployment there actually is, how much it has increased already and how much it will increase in ... (full story)