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Rolling Shutdowns and Their Devastating Impact on Our Economy
The initial shutting down, reopening and threat of further shutdowns has created an unprecedented amount of economic instability and uncertainty. If we continue this way, we’re undoubtedly headed for a financial catastrophe of epic proportions.
Recent financial figures confirm that consumer confidence is at an all-time low. People are concerned that we aren’t fully reopening and worried about what that means for the wider economy, as well as their personal finances.
The truth is, we can’t afford any more instability, and we can’t wait for a vaccine for us to get back to normal. We also can’t keep shutting down every time the infection numbers rise.
If we can’t commit to normalization with the virus and we can’t shut down, we have to find a reasonable middle ground. I believe there is a way for us to get our economy back on its feet, while still protecting the vulnerable people in our population from the virus.
Why is it impossible for our economy to bounce back if we continue having these shutdowns? Why does the risk go beyond the economy and money? In this episode, I talk about why rolling shutdowns should worry us.
3 Things We Learned From This Episode
How rolling shutdowns are impacting consumer confidence Consumers just aren’t confident that we’ll be able to resume any type of normalcy. If they don’t feel confident, and aren’t feeling positive about how things are going, they won’t spend money and our economy won’t recover.
Why shutting down isn’t just about the economy There have been real hardships for people who have lost their jobs and don’t have the ability to support their families. As a result many people have turned to unhealthy coping mechanisms and this has increased abuse, addiction, and depression.
The reality about the economy that we just can’t ignore Our economy has not yet felt the sting of the coronavirus because of the stimulus and CARES Act, which have been cushioning the blow. Unfortunately, this is not sustainable. We can’t stimulate the economy forever.
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By Rebecca Walser
4.8
8787 ratings
The initial shutting down, reopening and threat of further shutdowns has created an unprecedented amount of economic instability and uncertainty. If we continue this way, we’re undoubtedly headed for a financial catastrophe of epic proportions.
Recent financial figures confirm that consumer confidence is at an all-time low. People are concerned that we aren’t fully reopening and worried about what that means for the wider economy, as well as their personal finances.
The truth is, we can’t afford any more instability, and we can’t wait for a vaccine for us to get back to normal. We also can’t keep shutting down every time the infection numbers rise.
If we can’t commit to normalization with the virus and we can’t shut down, we have to find a reasonable middle ground. I believe there is a way for us to get our economy back on its feet, while still protecting the vulnerable people in our population from the virus.
Why is it impossible for our economy to bounce back if we continue having these shutdowns? Why does the risk go beyond the economy and money? In this episode, I talk about why rolling shutdowns should worry us.
3 Things We Learned From This Episode
How rolling shutdowns are impacting consumer confidence Consumers just aren’t confident that we’ll be able to resume any type of normalcy. If they don’t feel confident, and aren’t feeling positive about how things are going, they won’t spend money and our economy won’t recover.
Why shutting down isn’t just about the economy There have been real hardships for people who have lost their jobs and don’t have the ability to support their families. As a result many people have turned to unhealthy coping mechanisms and this has increased abuse, addiction, and depression.
The reality about the economy that we just can’t ignore Our economy has not yet felt the sting of the coronavirus because of the stimulus and CARES Act, which have been cushioning the blow. Unfortunately, this is not sustainable. We can’t stimulate the economy forever.