The Covid 19 virus
The current state of Covid 19 is a touchy subject. In case you have had your head under a rock for the majority of February and March 2020 the Covid 19 outbreak is a viral outbreak of a particular nasty strain of coronavirus. This virus resembles the SARS virus (Severe Acute Respiratory Syndrome) that was first identified in 2003. There was an outbreak at that time in Southern China and ultimately affected 26 counties. The Covid 19 was originally sequenced and believed to be a version of that same virus that had mutated and as such, it was initially known as SARS2.
The Covid 19 virus has rapidly spread since its discovery and now effects a large majority of the world. It the number of cases in the US alone have now surpassed 53,000 according to CNBC. Do to the relatively high death rate associated with this virus it has caused many drastic actions in an attempt to control the spread.
The effects of the current state of Covid 19 on the economy, due to the dangers posed by this virus
As of this date, the majority of US states have closed school systems and requested that people remain home. According to the CDC recommendations there should be no gatherings larger than 10 people in one place and that the best way to avoid the virus is maintain social distance. This is basically remain at least six feet from any other people and wash your hands as often as feasible.
Due to the CDC’s recommendations many businesses have sent their employees home and several governors have shut down non essential businesses such as bars, gyms, non essential stores in restaurant dining. This has led to increased panic by the public and resulted in mass hysteria buying and stockpiling which has caused store shelves to be stripped of needed item, which in turn is causing more panic.
Illinois, Newyork and California have all locked down their states restricting all but essential movement, Individuals caught out that should not be face possible fines in these areas.
The Uncertainty increases due to the current state of Covid 19
Because of all of these temporary job shut downs, businesses being temporary closed and the lack of a clear voice a lot of people are uncertain as to what the future holds. The governor of Georgia announced yesterday that he was not locking the state down. However, many of the major counties locked their counties down. At the same time President Trump is advising he wants to end the shutdowns. With a goal of getting everything back running by easter.
This is leading to additional confusion since the CDC and other health officials are advising against returning to normal operations. Stating that our health care system cannot handle the cases that would arise.
What you should do for now
Despite the uncertainties some things have already begun to improve. Some of the stores have recovered from the initial shock/panic purchases and have items back on their shelves. You should self isolate and avoid contact with others.
Remain at home if possible. If you must go out for work or supplies then make sure and wash your hands often. Avoid close proximity with others and upon returning home go ahead and shower and change clothes.
If soap and water are not available then hand sanitizer is an acceptable substitute. Avoid unnecessary contact with high germ areas such as door handles etc. If possible use a paper towel or push the door open by applying pressure at the bottom kick plate.
Other ways to avoid potential contact with the virus
There are several other ways you can avoid contact with people and thus lesson your chance of encountering the virus. For example many businesses are offering to pick your items for you and deliver them to curbside so you do not have to go in, you can also order through sources such as UBER eats and other ride share programs. Amazon continues to deliver products daily as does USPS and UPS.
You might also consider sending out as few family members as possible, for instance one person is all who ever leave the residence as this makes it easier to monitor that persons behavior while out in public.
Future outlook and possible vaccine to alter the current state of Covid 19
There are numerous attempts to develop a solution for Covid 19 in the works. These attempts include pharmaceutical companies developing brand new medications. The testing of older medications such as Remdesivir which was originally developed to fight a different coronovirus. There is also hydroxychloroquine and chloroquine which are primarily used to treat malaria. These showing some potential in the treatment of the Coronavirus.
There are also studies which will involve blood transfusions from patients who have recovered from the virus. Since they have developed antibodies. Doing so will essentially introduce those antibodies into someone who was infected with the Coronavirus. By doing so it gives their body a jump start at fighting the disease.
There are numerous other ideas in the works and you can see the full article here. It is important to note that while it does include a time line that could change based on the effectiveness of a particular treatment or that treatment not being effective.
Is this likely to cause lasting effects on the economy.
From my stand point I feel that while we will return to being able to go out and about and carry on with our normal business many things will likely change for ever. For instance I see most of the world being more stand offish at least for the near future. The hand shakes and physical hugs that were common between acquaintances will likely be replaced with nods and verbal exchanges only.
There will be a change in the business front at least for the short term as many of the smaller businesses may not be able to recover causing them to shut their doors. There may even be some downturn from large social gatherings, but then again humans are social creatures so this will likely not be long lasting.
While there will be some negatives, I see that several potential advantages may arise. First, countries across the world are working together to come up with a solution. This is likely to result in stronger ties across the globe. This could potentially improve not only relationships, but also economies in many countries.
Next there has been a drastic push in the last few weeks for technology implementation. Technology that was already present was not being utilized and is now being adapted to meet emerging needs. For instance access to telecommuting, easier access to teachers via web chats, and video conferencing for students. Before recently it was unheard of to contact a grade school teacher and carry on a video chat. Even if this does not become the norm, the infrastructure has been put in place. This would allow hospital bound or home bound students who are facing other diseases, to access curriculum.
Like always humankind will overcome this test and will return stronger than before. It is just a matter of waiting out the storm and seeing where things go.
See also – Coronavirus Preparation