The European Union Energy Crisis Is Getting Worse Than Most People Think

Eric Liu: The problem in the European Union right now is massively high energy prices for any US citizen. He says it's much worse than what people perceive when I see some of the macroeconomic estimates for the European Union for 2022 and particularly for 2023 they are clearly ignoring that this is not a winter problem this is a long-term problem. Is it possible that EU policy makers were actually foolish enough to believe that these sanctions were going to boomerang? And if so, how do we get here? We're talking about an economic slowdown already evident before the Ukraine crisis but also very negative for growth.