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Europe has been left behind by the world's key economies, the USA and China
And soon Germany, the lone survivor in the top three, would be replaced by India.
So what is the Europeans' response? In a very detailed paper, the central planners are already pointing out that future waves of inflation will be countered with price controls.
And how are they gonna control it? By subsidies or by lowering interest rates. They already have these options but when these are required and can give you the best outcome, you say 'it's not over now'. So, they have chosen to wait till nothing will work.