Dutch economy outperforming others because of “intelligent lockdown”

While the first wave of the coronavirus pandemic dealt an unprecedented blow to the Dutch economy, the Netherlands is still doing better than many other European countries, Statistics Netherlands reported on Tuesday. This may have to do with the Netherlands' "intelligent lockdown" keeping more sectors open than in other countries with stricter lockdowns.

In the second quarter, the Dutch economy contracted by 8.5 percent compared to the previous quarter. "This was the strongest contraction ever recorded," the stats office said. But compared to other European countries, the Dutch economy came off favorably. Germany's economy shrank by 9.7 percent, Belgium's by 12.1 percent, and France's by 13.8 percent

Read more at: Dutch economy outperforming others because of “intelligent lockdown” | NL Times

The Netherlands: Churchgoers in Dutch 'Bible Belt' defy coronavirus instructions

Hundreds of Dutch worshippers from a deeply conservative branch of Protestantism gathered in churches across the Netherlands on Sunday, defying government instructions to limit indoor groups to 30 to try to contain surging coronavirus infections.

Although Dutch churches are exempt on constitutional grounds from the government order, almost all church associations had said they would follow the rules, after massive gatherings in some Protestant churches last week had sparked outrage.

Reformed Protestant churches in what is known as the Dutch Bible Belt had made it clear they would continue to receive considerably more than 30 faithful at a time, despite the heavy criticism.

Read more at: 
Churchgoers in Dutch 'Bible Belt' defy coronavirus instructions | Reuters

The Netherlands: Coronavirus leads to increased risk of extremist attack in the Netherlands - by Victoria Séveno

The Dutch counter-terrorism unit (NCTV) has warned in its quarterly threat assessment that, while there is no indication that an attack is imminent, there is nonetheless an increased risk of attack in the Netherlands from radicalised right-wing extremists. 

Read more: 
NCTV: Coronavirus leads to increased risk of extremist attack in the Netherlands

Soccer: Italy 1-1 Netherlands: Improved Oranje earn point in Bergamo - Italy

The Netherlands kept their chances of progressing in the Nations League alive with a well-earned point against Italy in Bergamo.

Frank de Boer is still searching for his first win after four games as manager, but his team looked far more assured and incisive than they did in the goalless draw against Bosnia-Herzegovina on Saturday.

Read more at:
Italy 1-1 Netherlands: Improved Oranje earn point in Bergamo - DutchNews.nl

The US Economy and the US Dollar: the US is facing a dollar collapse by the end of 2021 and an over 50% chance of a double-dip recession, economist Stephen Roach says - by Shalini Nagarajan

• The US dollar could collapse by the end of 2021 and the economy can expect a more than 50% chance of a double-dip recession, the economist Stephen Roach told CNBC on Wednesday.
• The US has seen economic output rise briefly and then fall in eight of the past 11 business-cycle recoveries, Roach said.
• Grim second-quarter data cannot be dismissed, he said, pointing out that "the current-account deficit in the United States, which is the broadest measure of our international imbalance with the rest of the world, suffered a record deterioration."
• Roach last predicted a crash in the dollar index in June, when it was trading at about 96. He said at the time that it would collapse 35% against other major currencies within the next year or two.

The "seemingly crazed idea" that the US dollar will collapse against other major currencies in the post-pandemic global economy is not so crazy anymore, the economist Stephen Roach told CNBC's "Trading Nation" on Wednesday.

Roach,a former chairman of Morgan Stanley Asia, also said he sees a more than 50% probability of a double-dip recession in the United States.

He based that prediction on historical evidence, saying that in eight of the past 11 business-cycle recoveries economic output has risen briefly and then fallen.

"It's certainly something that happens more often than not," he said.

Roach last predicted a dollar crash in June, saying it would collapse 35% against other major currencies within the next couple of years. At the time, the dollar index traded at about 96. On Thursday, the index traded at about 94.41.

He said on Wednesday that he expected the collapse to happen by the end of 2021, but he did not say by how much.

Read more at: 
The US is facing a dollar collapse by the end of 2021 and an over 50% chance of a double-dip recession, economist Stephen Roach says | Markets Insider

The Netherlands goes into partial lockdown; face masks will be compulsory

Cafes, bars and restaurants in the Netherlands are to be shut for at least four weeks from Wednesday 10pm in an effort to get coronavirus under control, prime minister Mark Rutte told reporters on Tuesday evening.

The measures, in total, amount to a partial lockdown, Rutte said. ‘The number of social contacts and movements we make has to be cut drastically,’ he said. ‘It is the only way. We have to be tough on ourselves and on our behaviour.’

The number of newly notified positive coronavirus tests in the Netherlands soared by a further 7,393 cases in the 24 hours to Tuesday 10am and there were nearly 44,000 newly registered cases of coronavirus in the past week.

‘Too many people are not keeping to the rules,’ Rutte said.
‘Then we have no choice but to take tougher measures to make sure that we can no longer meet each other.’

The government also plans to make face masks compulsory in all indoor public spaces, but that still needs to be worked out legally. ‘We want to prevent discussion about the measures,’ Rutte said. ‘We want people to stick to them.’

 This is also why a ban on the sale of alcohol after 8pm is being introduced, Rutte said. ‘People were asking why cafes had to close at 10pm while they could still buy alcohol. So now we have dealt with that,’ he said.

 The measures, described by Rutte as a hammer, would be assessed after two weeks to see if any progress is being made. ‘But they will last at least four weeks and if that does not help, then we will go into a total lockdown.’

Read more at:
The Netherlands goes into partial lockdown; face masks will be compulsory - DutchNews.nl

The Global Pandemic: COVID-19 situation update worldwide, as of 12 October 2020

Since 31 December 2019 and as of 12 October 2020, 37 568 843 cases of COVID-19 (in accordance with the applied case definitions and testing strategies in the affected countries) have been reported, including 1 077 508 deaths.

Read more at: 
COVID-19 situation update worldwide, as of 12 October 2020