With Many Jobs And Events Forcing To Close. There Will Be Major Financial Repercussions Of Coronavirus.
It’s all fine and dandy for those who work in industries they can have their employees work remotely. They actually are having a lovely little paid vacation. No commute just work on your task from home, it’s wonderful. Their financial repercussions of coronavirus will be minimal.
State workers and teachers will have state benefits look after them and many classes can simply move to online.
But those who actually have to get out and earn their living through a physical presence at their place of employment will suffer most.
The Bills Are Not Taking a Vacation.
As much as we would all love to put life on hold hunker down till this all passes we simply can’t.
Unless there is some mandate that suspends all expenses until the virus passes. We all still have to earn our keep. What about the parents that still need to work and yet their children are out of school. How do they manage their households?
Its so easy for government to mandate closures but they are not taking into account the what the financial repercussion of the Coronavirus have on a micro level. That is what is going to do the most damage.
It’s an interesting time. Right now it all seems like quite the over reaction. It’s a strain of flu that has a 2% mortality rate and that’s mostly amongst elderly people.
However, in researching what the Spanish flu of 1918 did. You can get yourself a little worried.
In a similar vein it came on around March with near identical affect. Targeting mostly the elderly. But by the next fall the strain had morphed into a far deadlier version of itself and began killing at will healthy young individuals by the millions. So it’s not really the first wave that creates the cause for an all out panic.
We also have to understand this was 1918 technology has far surpassed what is what then and I expect answers to come far faster then back then. But there are a lot more people now. And we have transportation systems that can take a virus all over the world in a matter of days if not hours.
What Can We Do?
I think a lot of the preemptive measures are on point but there are issues not addressed and that is mainly the financial ones. This may just be the virus that kills the poor since the wealthy can isolate themselves more. And the poor have to earn their living through mostly physical labor. The problem with that is it will still spread rapidly if not all citizens are looked after.
All we can do as individuals is practice impeccable hygiene avoid contact as much as possible. And if you’re sick stay at home.
We may have to find some side hustles in the meantime to cover our bills. I imagine if it gets bad enough maybe governments around the world will finally institute a universal basic income so necessities are covered. Because the financial repercussions of coronavirus, like the virus itself, is just getting started.