By all accounts, things are looking bleak for large segments of the population. What to do?
Unemployment claims are skyrocketing, business closures are rampant, disease statistics are depressing.
It sounds like bad news on top of bad news. And many prognosticators say that more economic bad news is imminent. Not yet released, but quarterly reports will be dismal.
Without
For those with little resources, this is time to scramble for help. Many await whatever stimulus (rescue) the government will send them. Food banks report unusually high demand. Expect many not to pay this month’s rent. Perhaps rent will be unavailable for a longer time. (At least landlord has cancelled April rent. It remains to be seen how other landlords will respond. Many likely will not be so magnanimous.)
The ripple effect will be deep and wide.
Survival
Having funds saved is the key to survival. Many do not. Some do. Those without are in a precarious situation. Homelessness is bound to soar.
Even those with funds will need to interact with the rest of the world. Home-stored food lasts only a certain amount of time. Eventually one runs out of other supplies as well.
Words
Already the current situation has been named a Recession. But in reality, signs point to it being much worse that the 2008-9 Great Recession, and thereby worthy of earning the name Depression.
Changes
So many people are staying put that scientists have determined that the earth’s crust is vibrating less.
Glimmer
While our garden is something we have always used, it now takes on a more significant purpose. Growing vegetables and fruit takes on a significance not previously so appreciated.
Distraction?
With all the sad news, sometimes it is hard to pay attention to the stock market. A distraction some times. But with prices so low, and likely going lower, some pundits are talking about a “opportunity of a lifetime.” And here and here.
It may be an opportunity, but only if we survive it. A declining market can be seen as a positive thing for dividend investors. That is, as long as there is an eventual recovery.
No Rose Garden
No guarantees, right? Each day seems destined to be like its predecessor, until there is a minor or major disruption. But now all bets are off. We are on the edge of a major shift. Where to? No idea. But somewhere different for sure.
Whatever
Sometimes it seems close to useless to plan. Endless news about infections and deaths do not a happy person make. When darkness descends upon us and things look bleak and gloomy, it pays to remember that there is a future.
How are you getting ready for the post-Coronavirus world? Comment here.
The pear tree flowering is in the foreground, the persimmon tree leaves are visible in the background. Photo taken in March 2020.
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