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Are We Committing Economic Suicide In Response To Covid-19?
O
ur agency is principally focused on restaurant coverage and new business has dropped to zip since the onset of Covid-19. Several existing accounts are receiving cancellation warnings on premium financed policies. If the country can’t get back to normal soon, we are all in trouble. Your take? G.W. Pittsburgh, PA
health concerns, it is obvious that health concerns have taken priority over economic concerns, at least for now, with the IMF predicting a -3% global shrinkage in 2020. This is far worse than the global financial crisis of 2008-9 which only resulted in a shrinkage of -0.1%. may be even worse, in fact we may be committing economic Many feel that policy makers suicide. Actual suicides are also have a one dimensional up, along with bankruptcies, unemployment, view of the pandemic, as if massive the only bad thing that can mortgage defaults, lease happen is viral infection. The defaults, domestic violence, economic consequences of drug abuse and crime in imbalanced policy decisions general.
There is little doubt this Covid-19 pandemic and the associated lock down of the economy has resulted in the worst economic downturn since the great depression. In the delicate balance between the economy and 28
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MAY 2020
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