With everything that has been going on in the world as a result of the coronavirus, there are a lot of mixed feelings about whether or not it is time to open back up the economy to its regular form. This decision is far from simple as there are many factors to consider some of which are our own legal rights, the health and safety of the public, as well as the economic turmoil that has been plaguing the United States this entire year. With the unemployment reaching record highs since the great depression, the need for an optimal decision for the betterment of our nation is pivotal for the years to come. In this blog we’ll take a look at some of the possible outcomes if we do, or do not, open up our regular processes in the country and what can be expected as a possible result of a given decision.
Let’s first talk about unemployment. A common misunderstanding most people have is that if the economy were the open back to up to resume regular processes that the unemployment rate would immediately go back to the levels before this entire crisis. This thinking is absolutely incorrect because of one key detail which is that one cannot assume all of the small-scale as well as large scale businesses can just bounce back from this fiasco and bring back all of the workers that were furloughed. Countless businesses have been seen reporting bankruptcies as well as downsizing their entire operation which leads to the conclusion that the unemployment rate will not resume to pre-COVID levels as soon as the economic would open up. After all, there might not be a business to go back to as many entities have had to permanently close their doors as a result of this pandemic. Therefore, the unemployment rate would not necessarily be solved. Another big factor with opening up the economy would be the potential compromise of the health of those who are most at risk. Now this could very well not be as big of an issue due to the fact that if someone is an at-risk individual, they can simply stay home (assuming the government is aware of and aids these people) and avoid the potential health risk without compromising the entire flow of the economy. Now, regardless of whether or not we remain closed or decide to open up the United States, the fact remains that the result of this pandemic and how we handled it is yet to be seen from a financial and economic standpoint. Things are moving quite slow and the “collapse” has not occurred yet due to the government pumping trillions of dollars into the market which ultimately just puts the fall of the economy in slow motion. When the benefits and aid programs begin to run dry, only then will we see the true repercussions of how we handled the COVID-19 situation in the United States. In these situations, our character is what is most tested, and we must stay positive and strong during these trying times.
In addition to the concern regarding the coronavirus, protesting over the unfair treatment of colored people in the United States has taken the world by storm. With the unjust murder of George Floyd, the country needs powerful reform and the protests are a form of revolting against the oppression that is being done. While the country does have to open up, the resolution of this blatant racism must be put to an end and if that means that the country may take longer to open up as a result, at least lives would be saved. We encourage each and every one of you to do your part by sharing the information regarding the subject and educating those who are unaware of the events taking place, such as police brutality. Our voice needs to be heard in the sense that the behavior of authority in this country is intolerable and must have major reform. There are quite a few factors that play into whether or not we should open up as a nation and only time will tell as these events unfold that when is certainly the correct time to open.