On April 1, 2020, American businessman Mike Bloomberg publicized a flow chart depicting the current status of the economy after the outbreak of COV-ID 19.
This pandemic caused US president Donald Trump to give out a report entailing that Americans stay under self-quarantine until further notice. Other countries have also implemented procedures to counter the recent disease.
“As the world wrestles with the unprecedented implications of the COVID-19 coronavirus pandemic, we are facing a human crisis unlike any we have experienced” Amina J. Mohammed said, according to an April 13 CNN article. “Social fabric and cohesion is under stress.”
The quarantine is one of the most impactful parts to this world-wide event. Businesses are going down due to the lack of people stimulating the economy as some people cannot purchase or distribute goods or services.
“People do not buy a new outfit to stay at home,” chief executive Simon Wolfson said, according to a BBC article.
Some government officials have considered plans to aid or fix the dying economy. Starting programs, or even lending money are just some of the implications that may be issued.
Recently, the government proposed a Fiscal Policy to help restimulate the economy. They would do this by reducing their tax rates and spending levels to observe fluctuations within the change, hoping to aid middle class and lower class individuals that have been affected by and even before the coronavirus.
Several people were interviewed on their opinion of the COV-ID 19 outbreak. Kansas City Nail Salon owner, Tina Lake is one of the people that have entered self-quarantine.
“It’s not fun, I had to close my shop because I didn’t want my customers to get sick,” Lake said.
Some people have been reported to not be as affected by the Coronavirus. Kansas City landlord, Keithley Lake is one of the local business owners that is being affected by this pandemic.
“Getting tenants is hard these days, but I still have my side jobs to keep me stable,” Lake said.