Hey Reaper,
Hope you are staying safe and sane! I need a place to vent a little, but also don’t want to cross any lines. Don’t think I will, so here I go:
1. People are unemployed and afraid for their financial futures
2. Some small business owners (eg. in the hospitality and restaurant businesses) are suffering greatly due to COVID and closures.
So what’s the answer? Open up (hopefully responsibly) and hope people show up inside businesses? Disqualify employees to receive PPP now that you’re open, yet probably won’t come close to hitting the revenues you had prior to COVID? So in reality, you’d be better off staying closed so your employees can get unemployment + $600?
Here’s what I think needs to happen, IN THR SHORT TERM:
1. We bailed the banks and lenders out in 2008. It’s their turn now. DEFER (not forgive) debt payments for 3 - 6 months while people stay safe. No mortgage payments (for everyone, including landlords which means) no rent, no credit card payments, no car payments. In other words, people don’t have to stress too much about money
2. Fix PPP now. How the heck do the LA lakers qualify for this program when real small businesses are suffering?!?! The Lakers did the right thing by giving the money back, but which small businesses suffered because of the Lakers held up the money?
In other words, keep money in the pockets of people so they don’t have to worry about debt. Thus, it encourages social distancing as much as possible until a vaccine and/or tamiflu-like treatment can be developed. Simultaneously we come up with a plan to open the economy in a responsible way (including mask wearing and social distancing).
Unfortunately, it seems that we are just going to open up while the day-over-day death rate will increases. Given my concern that my son’s daycare will remain closed in June, coupled with my wife starting her new job on June 1, it means that I can’t feasibly work in June while she focuses on establishing herself in her new role. So we lose money by “forced voluntary” unemployment on my part - to take care of my son. I assume many other parents are finding themselves in a similar situation.
In my opinion, the reality is that we are going to be dealing with,and compensating for, COVID-19 for at least a couple years. Better for us to figure out a responsible approach sooner than later, in my opinion.
Off my soapbox now :)
AI
