Clearly, winning over the Covid-19 virus is paramount and the first target. Healthcare workers at all levels are showing great courage and we will owe them a debt of great gratitude. The second target is the economy which has suffered from the necessitated actions fighting the virus. Trump echoes the adage that the cure can't be wore than the disease. The old joke comes to mind, "the surgery was a complete success but the patient died". The emotional response varies from person to person, group to group and even country to country. I have long held that the strongest friendships are those that have weathered adversity together and overcome it. That is certainly in play for most. Unfortunately there are some types of people that seem to thrive on the misery of others and they don't get my time or attention. Good people when informed will do the right things.
Now, the 2 trillion dollars:
Individuals and couples will receive cash payments...no applications need
Businesses under 500 employees can apply for payroll and overhead loans at a local FDIC bank etc and these will be forgiven IF they commit to rehiring employees furloughed due to the covid-19 shutdowns
Unemployment is being bolstered and now even 1099ers can apply
Not unmentioned but less covered is the additional 4 trillion dollars that is provided for the Federal Reserve to bolster the credit markets etc., so this is in reality a 6.2 trillion dollar shot in the arm for the economy.
Does 6.2 Trillion dollars do the trick in keeping the economy strong? Maybe for a whiles but strong might be better replaced by alive. We simply want the stores and businesses that employee America to be ready and able when the virus gets handled. That will likely be a gradual process but news about preventive medicines, treatments and possible vaccines will be the key items to watch as will be the resulting statistics and the now famous flattening of the curve. When numbers flatten and then begin to go down, it will be good news.
Covid-19 will definitely get conquered in time. Meanwhile we want to protect all and have businesses ready to go as soon as possible. The hit we've taken will have plenty of blame associated with it, but the key is to buck up and focus on those things that will return people and business to health. We as a Nation might change going forward and that is an evolution of sorts.
Does 6.2 Trillion dollars conquer Covid-19? It will help if applied as intended. The real solution lays in our scientists and medical professionals. I have faith in them. If this virus turns out to be more similar to our seasonal flu, then that's good. Even though flu has a .4-.8 of a percent mortality rate, we'll have inoculations and treatments soon and end this pandemic. Perhaps this one will just become an additional seasonal flu we have to contend with. So be it, but it served to wake us up, educate us, reinvigorate the truly important things in our lives and for a moment put aside the partisanship I've grown to despise., When one side wants failure of the other side and lets the country gets squeezed, no one wins. Those who put their politics first when such a calamity strikes our country do not deserve our support and should be ousted from public service. I'm keeping a list and checking it twice.
Stay alert to the money flow that can come your way. It will help bridge the moment. Also, don't abandon the sensible guidance the CDC has issued. It may just save you and others. Clients can always call me for help and/or needed documents when applying for these new business loans etc. I want to know how you are all doing so call just to chit chat too.
NOTE: Any business closed due to this event will not get a bill for my services. I will continue to do the routine tasks keeping things current and reconciling monthly. If you are still open, you will get your regular invoice. Talk to me about this as you wish. It is simply intended to pitch in some help for those who have been shuttered.
Best,
Donn Marier