The New World
In my corner of the world, we are a little over a week into our 'Shelter in Place' order to fight the spread of the Coronavirus COVID-19. Our shelter in place is essentially the quarantine that most other countries have placed on their citizens although our population has been slow to adopt the advised precautions.
The initial panic buying of toilet paper, water, guns, and ammo did not subside as people adjusted to this new reality. Rather than staying home and staying safe, many venture out daily to snag any recent deliveries of toilet paper or meat. I have virtual acquaintances in Italy and have seen photos of bare streets in their most densely populated cities. Most have at best a balcony or terrace but are otherwise confined to a small apartment. Of course, Polizei and Carabinieri enforce the quarantines whereas we are left to self-police and I think we are probably doing okay considering that we don't have a lot of "adult supervision".
We are starting to get a little more accurate reporting as we get further in. During the first week as shoppers literally fought over packs of toilet paper, all the news agencies reported that the shortages were very temporary and no actual shortages existed gave way to admissions by manufacturers that they in fact cannot keep up with demand and as long as it continues, they will be behind. A number of years ago, I worked on the tech industry side of the adoption of Just In Time (JIT) manufacturing that made a lot of sense anytime except for this scenario. In this, it was a disaster.
Welcome to our new reality.
Even when the world returns to normal, it won't be the old normal. Will anyone buy one pack of toilet paper without thinking it would be a good idea to have a few as backup? Will any of us think of what we need for dinner tonight without thinking of how long the food in the pantry will last when the next coronavirus rolls through. Even if the next coronavirus that rolls around is tame in comparison, will the reaction be anything less than what it is now?
The company I left last year because of a dwindling role is considered an essential service and while undoubtedly struggling, is still making money and paying employees. Many companies aren't so lucky. My own business, under a year old, was struggling to gain momentum but nonetheless still showed promise. No more.
Like many, I have my retirement account invested in the stock market, which has plunged in the last few weeks. Many say the housing market will dramatically suffer, affecting my other large investment: my house. The government just passed a 2.2 Trillion dollar stimulus package that was sold to us as relief for the American people, but really bails out businesses and pushed through special pet projects of legislators. I heard yesterday that the promised $1000 payment to each American is not what it seems. It will likely be tied to what a person made the prior year. So, if they made a good salary in 2019, they won't be eligible to receive the relief payment even if they are currently unemployed because of COVID. Even if the package actually paid every single American that $1000, it would only amount to 15% of the total package. In reality it will account for something closer 5% - directly anyway.
However, there will be a massive amount spent on businesses and if used as intended, would go towards getting people working and paid. If it succeeds in that respect, the beating the stock market has already taken may respond well.
New York's governor, Andrew Cuomo, said yesterday that closing all the businesses and keeping people at home may not have been the best strategy. It took young people who could have been infected and placed in close proximity to older people. The quarantine is a reasonable response to the pandemic, but Gov. Cuomo raises an interesting question. You are taking people that are more spread out and putting them in relatively close proximity. Even with social distancing, contamination occurs.
I don't know, but I hope that the world's health professionals will properly autopsy the outbreak and response and come up with the best plan on both local and global scales for the next virus pandemic.
I've ordered a bidet. I'm set.