It seems like the economists have a very short memory as to how fast an economy comes back after a crisis. I live in the Las Vegas area of Nevada and I surely do not have a memory lapse after 9/11; I surely do not have a memory lapse after the bubble bust of 2008 as to how long it took for the economy to come back and I can’t see any reason why it should change for the coronavirus crisis we are going through now and that means all the tourist areas in the United States. It was bankruptcies for at least a couple of years for each crisis because the people were just not coming in and the people that were here did not have the money to spend beyond their main bills and like I said multiply this situation with all the tourist states in our republic.
The following was posted by Christopher Carbone, published by Fox News: “What will America look like post-COVID-19?”
“That question is tough to answer now, with many states under stay-at-home orders and many industries rethinking a wide range of operations. A new survey reveals widespread anxiety among the public about returning to pre-coronavirus behaviors.”
“The survey, conducted by Vital Vio, reveals that 40 percent of Americans plan to avoid public spaces unless “absolutely necessary” long after the pandemic has subsided.”
“While COVID-19 conversations have started shifting from shutting down to reopening the country, the truth is that we’re far from normal life,” Colleen Costello, CEO and co-founder of Vital Vio, told StudyFinds. “In fact, our report spotlights how Americans’ heightened germ concerns could push them to avoid social interactions and public spaces unless absolutely necessary, even after it’s deemed safe by the government.”
This is some tough facts to accept but I understand it with the past economic experiences that Americans experienced in the past that I showed up above and that is only in the modern era. We should be all happy with the $1200 stimulus check we received but you see the timing was off and surely it is not enough for the hit the economy is gettring. The best we can do in the meantime is work with our lenders whoever that may be which is not one thing we have had luck with before only because President Trump has asked the lending institutions to give us a break wherever they can.
The topic these days is for states to open up and that should be a big concern concerning the fact there are governors out there who do not believe in reading the Bill of Rights before they decide when to open up their states and if they keep the states locked up too much longer I dont even want to witness the riots in our streets.
Naturally when I write something I hope I am right and I am right most of the time, this is the one time I hope I am wrong and the economy comes back immediately but because of the nature of the crisis I cant see how.