#ReopeningAmerica #COVID19 #coronavirus #FlattenTheCurve #BoomingEconomy
Wes Moss thinks America is headed for a great reopening of the economy.
Moss, who writes a “Money Matters “ column for The Atlanta Journal-Constitution, and has a radio show by the same name on WSB in Atlanta, sees four things that prompt him to see the boom coming. His column on this subject appeared in the March 28, 2021, edition of the newspaper.
He likens what has been created to “the most powerful locomotive ever built.”
As the COVID-19 pandemic begins to ease – most public health experts, however, warn that it may be too soon yet to let our guard down, though there is a light at the end of the tunnel – here’s what Moss sees:
• Stimulus packages have been approved, putting money in many empty pockets.
• Pent-up demand for goods and services after most of us have been locked at home for a year.
• Record savings rates among Americans over the last year, because people haven’t gone many places or done many things to spend it.
• Herd immunity, prompted by the creation and inoculation of vaccines.
Not everyone would agree with Moss, though it would be grand if he were proved right.
You hear lots of talk about government trying to do too much. Remember, lots of folks lost jobs
during the pandemic. As a result, many are having trouble paying rent and mortgages, some are even having trouble feeding themselves and their families.
The stimulus will help with that temporarily, but now these folks have to go out to find work.
A hopeful sign is that as many restaurants and other establishments begin to reopen, they are, and will be, looking for help.
Regarding pent-up demand and record savings, we have to be careful here. If people have saved as they haven’t for some time, they should take care on how they spend their money. Certainly, going out to eat on occasion or going on a vacation will help cure cabin fever, but, as Moss would likely advise, don’t spend that money frivolously.
The vaccines will help ease the fear of going out and about, but we would still be advised to use caution. For example, perhaps you could dine in a restaurant at times when it will be the least crowded. Hopefully, the restaurant management will stagger seating so people are not crammed in.
When you are not sure you can keep your distance from people, wear a mask. Eventually, we’ll get an all-clear signal from health officials to put away our masks, but we are not there yet.
Perhaps you’ve lost a job and it has permanently disappeared. Or, the job you had was not worth going back to. If you are in that situation, you may not see Moss’ optimism.
If so, you should know there are many programs out there that allow you to spend a few part-time hours a week (you still may need to get a job, at least for a time) and earn an income that could potentially dwarf what you would earn in a W-2 job. These programs require people of any age, education, background or experience to look at something they may have never thought they would do. And, if they see the potential, allow themselves to be coached.
To learn about one of the best such programs, message me.
If the economy takes off the way Moss sees it, in a few years the government will get back the money it’s investing now – and, perhaps, more.
It’s tempting for us to go hog wild as the restrictions ease, but it would be wiser for us to ease back to normal gradually. Those with pent-up demand should exercise discipline in unleashing it. Those who have saved more than they have been should continue to save while, at the same time, treating himself or herself once in a while.
Peter