Covid Virus, Emergency Savings and Future Planning
FOR IMMEDIATE RELEASE:
Contact: Amanda Edmunds
I & E Insurance Agency
What the Covid-19 Chinese Virus should Tell us about Future Planning
( April 20,2020,Point Pleasant NJ )
The last few months have been unlike anything ever to happen to world. And in the United States our biggest crisis to effect our whole population since WWII. But this time is different , we can’t see the enemy, we cant touch it, we cant fight it, but the pain and suffering that is being felt by our people is the same as if our cities were attacked by a physical presence. How did this happen and what could we have done to minimize the pain and suffering inflicted on our people. That’s a subject we will leave to others to philosophize over and find scapegoats. But as we can see, there is only one culprit, the communistic government of China, they knew about the virus but decided to lie about it and hide the truth.
But for the purpose of this discussion, there is something we all can do as consumers, investors, parents and citizens that doesn’t hurt, doesn’t cost anything and can only help us in the future. lets first discuss the foundations of this reasoning
As we all know the US Government was forced in the middle of March to basically tell us all CLOSE DOWN- SHUT OFF THE LIGHTS; take some time off spend 1-2 months at home, don’t go out, don’t go to movies, sporting events, family event etc. Basically they wanted us to crawl into a cave and hibernate. Which on the surface sounded ok— stay home, sleep, watch TV but no one said we’d loose our jobs, our business and companies facing furloughs or even bankruptcy. Through no ones fault, no bad decisions, no illegal activities, business both large and small closed overnight. No baseball, No basketball, No gold, Airplanes grounded, Schools closed , Buildings empty, ships docked, the list goes on and on, about the only thing open was the food and medical related industries and of course internet based business. The virus caused some estimates of potentially 1-2 Million people may die in the US, so we were all told to stay away from each other, a new phrase socially distancing was used. President Trump fortunately got ahead of the wave in January and stopped travel from China, but that wasn’t enough as infectious travelers were coming into the US from as far back as late December, the die was cast, no one knew. The result of all this elimination of Business, of Life, was no business, no work, no money, as the weeks went on the questions arose- Is the cure worse than the disease? That’s another question for the History books. But the end results of all this, Is monetary pain and suffering. Although Uncle Sam has promised to provide financial resources there are no questions, many business will never come back, over 26 million people have lost their jobs based on projections of total deaths.
So we all have to rethink about the way we spend and save our money.