The Economy and a Second Lockdown
I was talking to a friend who lives in the United States and she told me she is out of job now for the second time as there is a second lockdown in her state. It is true that some states in the US are already going into lockdown again. No one ever thought that the year 2020 would look like a holiday, we expected the best from it, having plans and thinking of so many things to do but it isn’t happening as a lot of people have been on holiday. My friend made me understand that over 4 states including Arizona where my friend live are going into a second phase of lockdown and this is affecting businesses and jobs.
How long will this go on?
We all have been scared of this virus hitting December and thought we could find a solution to it before the end of first quarter but it looks like we got a different result from our expectation. A lot of people believed that a vaccine would come out around March but got a shocker when WHO said it would take an average of 1 year even if they were to run it as fast as they could so now we have to wait for the end of the year to get a solution to this.
A lot of people want to go back to work, the government is tired of pumping too much money into the economy (maybe they aren’t tired), investors want the market to go back to normal but are scared of the fact that the virus will keep sinking their money if they keep investing which might make them become poor, also business owners want to have a very good year but this year doesn’t look good after all. I must tell you something that there will be no back to normal if a vaccine isn’t out as soon as possible.
What do we do to this?
A lot of people have gone against mandatory wearing of mask since a lot of countries are in a democracy and have the right to do whatever they want as the government cannot mandate choices on them as it would infringe human right but wearing of mask is one way we can get out of this and still allow the economy to remain stable.
The economy will remain at its worst state until we can get a vaccine for the virus. The virus will remain a threat and would slow down economies of different country. We might need innovations in companies so they can remain relevant else companies that have been losing money will keep losing money. And if there I no solution to this virus, the world can’t see normality again.
