> So the lockdown will be indefinite - multiple years at least.
The lockdown can't last indefinitely. The US and EU will largely collapse, literally, in that approach before a year is out. This will become very apparent within a very short amount of time. The US and EU will go bankrupt trying to maintain lockdown mode.
The West will do the exact opposite. Before a few months are up, the lockdowns will end no matter what the circumstances are. The US and EU will switch to lockdown / quarantine for only those most vulnerable.
It's far cheaper, and a lot more sane, to handle the ICU cases than to spend $1 trillion every month on keeping the US or EU economies on life support. We'll invert the context: everyone on lockdown at enormous total cost to protect the most vulnerable, switched to a small percentage of the population on lockdown / quaratine at a far smaller cost.
The virus is likely extremely widespread. The US probably has a million cases of the virus already. China probably has had several million cases of it.
There is in fact no other possible scenario than to end the lockdowns, it will not really be a choice, it will have to occur. Neither the US nor the EU can sustain in perpetual lockdown mode, for obvious reasons related to food, supplies, production.
What are countries like Spain going to do, run $200 billion financial programs every other month? Of course not. It's obvious what the choice will be at this point.
Herd immunity is already underway, due to the extreme number of undetected cases. If any of the larger nations were really on top of this mess, they'd be doing massive randomized testing to confirm the hyper spread of the virus. Once that is confirmed, the only logical choice is to do what I've outlined. Each day that goes by, it will become more apparent that the virus has already hyper spread. Eventually that will be confirmed, right now it just appears they're going to get to that point unnecessarily slowly.