I’m not an economist. I didn’t even take economics in college (I should have).
As a matter of fact I’m not that great with numbers (more of a words person-can you tell?!). Nevertheless, I’m a novice with numbers but I can calculate accurate costs as it relates to percentages off sale items and my ability to mentally calculate ten, fifteen and twenty percent tip calculations on meals large and small are quite legendary.
Even so, as we continue to live through the current pandemic that has gripped the world; one big concern that comes up often is the economic repercussions related to the shutting down of our society. We are practicing social distancing as an attempt to slow down the spread of COVID-19.
New Rochelle, a city that’s only a short car ride away from me, is under the management of the National Guard as all hands are on deck to gain control of this pandemic. Grocery stores and big box stores like Costco have limited supplies as citizens stockpile essential items like toilet paper and hand sanitizer. Price gouging is becoming common as many attempt to profit off our mass hysteria as everyone attempts to stay safe during these troubling times.
One by one school districts across America are shutting down, like colleges and universities, some schools have closed until further notice and others for at least two weeks. The NBA as well as other professional sports have suspended games in light of athletes testing positive with COVID-19.
With all that’s happening, our country is forced to explore what the consequences will be for the gradual slowing down of our economy.
What happens to low wage workers whom can not afford to lose out on hours-or whom have limited child care options as schools are no longer open? How are we going to keep many from falling behind on rent and mortgage payments as more fall sick and don’t go to work in an effort to not spread the virus further?
It’s not just low wage workers whom are in a vulnerable position-many Americans do not have readily available liquid assets to cover daily expenses if they find themselves without a steady paycheck after a month or two.
As I mentioned earlier, I’m not an economist. However, it seems to me the federal government should take quick action and provide living wage stipends to all Americans to ease the financial struggles many are facing as we collectively hunker down and ride out the ever changing waves of this pandemic.
Let’s go Mr. President !
We have very little time to waste (as it looks to me the government took longer than necessary to recognize the severity of this health crisis for well over two months). This Administration should act hastily to ensure its citizens are able to provide for their families as all parts of our society is coming to a screeching halt.
What are your thoughts dear reader? How are you coping with the second by second changes for this pandemic? Any thoughts on how to avoid financial catastrophe? I eagerly await your thoughts. Blessings.