There is no question about the financial devastation that is befalling American businesses all across the country due to Covid 19. Oh sure some businesses will actually do well due to Covid 19, but many businesses will stumble and fail from Covid 19. All you have to do is take a look at any businesses that has the public visit it in any way to see the carnage. Movie theatres, restaurants, concert venues, sporting arenas, airlines, and many more are literally sustaining drops in business as high as 80%. Even in the best of times most of these businesses will struggle to produce a profit. Now imagine your business revenue falling 20% in revenue much less 80%?
Yes, government stimulus has thrown a lifeline to many businesses and people but consider the national debt is at 27 trillion dollars and interest rates are already zero and that leaves little room for any further relief. We can already see the cracks developing in the economy with massive layoffs and now new rounds of layoffs as the winter months set in and business remains stagnant due to Covid 19. What this is a set up for is massive bankruptcy filings. It will be unavoidable for so many to hit the reset button and move on with their lives. How many store fronts have you seen lock their doors for good? All one has to do is walk in any downtown in America and you see store front after store front closed for good. Yes, the Amazon’s of the world are doing great. But as to your average mom and pop shop in down town America, it’s lights out.
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