Coronavirus: 5 Economic Ramifications From This Pandemic

Coronavirus: 5 Economic Ramifications From This Pandemic

This horrific pandemic, which can probably, become infamous, and mentioned , as something like, the Virus of 2020, etc, not only, has created, to date, within this nation, over 3 million infections, and 140, 000 deaths, but, many significant economic ramifications, which can have, long - lasting impacts, for a substantial , period of your time , into the longer term . 

Although, we should always prioritize the general public health impact, and specialise in proceeding with sense , like wearing a mask, social distancing, and washing/ sanitizing our hands, often, while placing the commonweal , and public, way before economic/ political necessities, if, our public leaders, acted more responsibly, they might proceed, with a well - considered, vision, and approach, to accomplish what's needed, and necessary, and truly, be leaders, for the greater good! thereupon in mind, this text will plan to consider, examine, review, and discuss, 5 economic ramifications, stemming from this health crisis.

1. Savings/ resources:

 due to the severity, and length of this crisis, many Americans have had to dig - deep, into their personal savings, and other financial resources, resorted to debt, fallen - behind on their rent/ mortgage payments, etc. Although, we are witnessing, within the last month, a true estate boom of activity, and sales. However, many are concerned, because, we also are , starting to see evidence, of a rise in foreclosures, evictions, etc. 

additionally , banks and lenders, already, have indicated, they're going to be using much more stringent guidelines, in terms of lending for, the larger, so - called, Jumbo Mortgages. While nobody , are often certain of the longer term , this appears, to not, bode - well!

2. Risk acceptance/ comfort level: Will this extended period of monetary anxiety, where numerous jobs, and businesses, are impacted, and lots of have lost their incomes, etc, create, a mindset, similar, to those, who lived through the good Depression (fear of it recurring, hoarding, and becoming more conservative, in terms of paying habits, risk acceptance, and their personal Comfort Zone)?

3. The New Normal: Will we return, anytime, within the near future, to normal, or, when, we do, will there become, a replacement Normal? Will more people, be telecommuting, and, therefore, will many companies, either reduce their space, leave of business (or seriously, alter, their business model), and the way might that accept, larger office buildings, retail space needs, etc? Will shopping malls, become a victim, unless they evolve, significantly? How about the restaurant industry, movies and theaters, sporting arenas, etc?

4. How might business change? Will the needed skill - sets got to change, and evolve? Will we see more reliance on preparation, a hybrid - type system, etc? Will certain commercial land suffer, while differing types , benefit? How will this nation evolve, to ensure, we are better prepared, for any future crisis, etc?

5. sorts of jobs/ careers: In immediate - terms, we are witnessing, many teachers, fearful, and reconsidering, their professions, especially supported an overall, risk/ reward, basis? Will we learn lessons, from this, or face undesirable ramifications, into the future? How will travel, etc, be changed, modified, and better prepared?

Wake up, America, because, we'd like better prepared, public leaders, if we'll be ready, willing, and able, to properly prepare, into the future! Demand better, and more, and do not accept empty promises, and rhetoric, but, rather, seek well - considered, viable solutions, and planning!

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