Tuesday, May 12, 2020
These are strange days with some businesses reopening and others still closed. Unfortunately, many small businesses will have to remain shuttered. Try to imagine the needs of a small restauranteur or gift shop proprietor wanting to reopen profitably after the long shutdown. My small city’s major industry is hospitality, it’s dependent on tourist traffic. Nowadays we doubt that vacationers soon will be traveling again to find sport and entertainment opportunities.
Everybody’s first priority will be to work hard and focus on recouping capital reduced during the Corvid-19 shutdown. In a deep economic depression like this people will draw on reserves to stay afloat. Even when our general economic situation improves, individuals will have trouble replenishing spent capital. Corvid-19 has affected everybody worldwide. Many have drawn from retirement funds and similar resources previously considered untouchable before a future time.
For retirees this situation is awful. Most won’t find or could handle work valuable enough to replace capital utilized for their survival. Organizations do offer temporary forgiveness of bill-paying for mortgages and various loans, but that’s a setting-aside of obligations. All due balances ultimately must be paid.
In the days when I was a young worker, the periodic financial crises little affected me. I do recall having to line up with other drivers and wait in my vehicle for gasoline during a major shortage of the stuff. I was a low-wage earner who didn’t get laid off and could roll with the punches.
America’s recent economic crises were different. The 2008 mortgage debacle and this Corvid-19 pandemic have rocked our world. These dire situations have ravaged personal, national, and international resources. And worst, Corvid-19 ups the ante by giving us a specter of more to come.
One might wonder, for example, if 2019 weren’t an election year, might our government have handled differently those early warnings and international evidence of an oncoming pandemic? Would the Republicans and Trump have responded in ways more positive and productive? Can post-mortems teach or are they worthless? Is what has passed simply done and let’s move on?
Everybody knows we must try to pick up and reconnect many pieces. We need resources for the tough times ahead. Those very able will seek well-paying work and go about reopening their businesses. Let’s hope for across-the-board successes. We hope retirees still have or may find adequate resources to continue their adventure, as history’s longest-living and largest elderly population.
Dear Friends: Traditional governing and leadership methods seriously need revitalizing. Diana