(By Samuel Di Gangi) As COVID-19 continues to plague the United States and much of the world (over 182 nations), everyone from Rush Limbaugh to Politico has weighed-in on the potential fallout from the virus as it pertains to the economy. The former has even suggested that Dr. Fauci and certain members of the Trump Task Force are working behind the scenes as “Clinton sympathizers” to cripple the vibrant economy that the President has built.
There are two sides on the virus issue which tend to have views which are mutually exclusive. On one side are the people who are saying that America should just reopen and throw caution to the wind, while the other says that doing so will only lead to a sick workforce, more deaths, and an even worse economy. But, it seems that right now everyone is just hoping that this Coronavirus simply dies out during the summer.
One thing that both sides can agree upon fully: AMERICA’S ECONOMY IS BEING PUMMELED! While the U.S. Government has made a valiant effort to get financial aid to both businesses and to people directly, sadly, there are many businesses which may never recover.
For example, in California, countless businesses, hotels, stores, and others depend on just one music festival, Coachilla, to survive for the whole year. Some businesses in the Indio area, where the festival is held, make most of the year’s profit from that one festival. Now, multiply that by all of the festivals that happen all over the country. Even those companies that do get relief won’t be able to recover from the fact that they missed their big yearly money-makers.
In the Midwest, events like the Pro Football Hall Of Fame Enshrinement Festival in Canton, Ohio brings in the lion’s share of tourism every year to that area. If the fear of the virus should carry on until the start of the football season, countless small businesses in that area of would never recover after suffering all summer and losing the income from their most profitable festival weekend.
As a result, smaller businesses could sink even with the grant or loan money.
News Center Maine has reported that a great number of companies in that state have been affected, and that places like the famous “Eatons” will never re-open.
In another instance, a Goldman Sachs survey found that after surveying “more than 1,500 small business owners, they found that more than 50% of them said they didn’t think they could continue operating their businesses for more than three months amid the current conditions caused by the Coronavirus outbreak.” This means that, should the COVID-19 panic not die down in summer, or if it returns in the fall, things could be quite grim….particularly for Mom n’ Pop shops.
There is some good news, however. CNBC has confirmed that American creativity and adaptability is helping some businesses which were in danger to stay above water. In many cases, carry out and delivery has been added as an option, and the “shop local” mantra is helping it to happen.
Many companies which run medical supplies and medicines have seen an uptick in need, and so have hired out-of-work school bus drivers for delivery services.
Also, some landlords are deferring payments to assist tenants struggling to make rent, which is helpful in the short term….as long as payments can be made up in the future.
In closing, obviously the longer that this situation remains with us, the more dire the circumstances for many will grow. However, if each person is being mindful to take common sense precautions, it will help to stall the progress of the virus, which will likely work to speed up the reopening of our nation.
Samuel Earl Di Gangi is a writer, political commentator, graphic artist, DJ, and musician with a strong pro-Libertarian & pro-Christian lean. He is the curator of “The Correct Views”, or “TCV”, which is a member show of the newsgroup “The Media Speaks”.