Right now, the focus of FutureMoneyTrends.com is to make sure all readers are as UPDATED as possible on the Covid-19 pandemic.
I’m not going to sugar coat this for you. The best way to help our fellow Americans struggling to make ends meet due to job losses or cut hours is to immediately reopen the economy. It’s becoming clear that the longer Americans are living in fear in lockdown, the worse the economic aftermath of this is going to be.
It could get so bad, in fact, that there will be massive amounts of people committing suicide. Not to mention a healthy economy creates healthy people. If things don’t loosen up soon, we could very well see our fellow Americans take to stealing or worse just to try to survive. These are not acceptable outcomes and will quickly spiral out of control.
Other investors have come out saying the exact same thing. Michael Burry, who accurately predicted the housing market crisis in 2008 is saying the solution is simple. Reopen the economy and do it now. Stop waiting and procrastinating. “Universal stay-at-home is the most devastating economic force in modern history and it is man-made. It very suddenly reverses the gains of underprivileged groups, kills and creates drug addicts, beats and terrorizes women and children in violent now-jobless households, and more. It bleeds deep anguish and suicide,” Burry said.
Job losses and a crashed economy can still be avoided, by actions to get things reopened need to happen immediately, not in days, not in weeks, and certainly, not in months. Burry, who earned his M.D. at Vanderbilt University before he shifted gears to become a professional investor, has for weeks been railing against the government’s response to the pandemic. He’s not the only one. People across the country are speaking up as well.
Source: Michael Burry, Twitter
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In an email to Bloomberg, Burry reiterated his stance that Americans were not meant to be caged in their homes unable to provide for their children. He said he would immediately lift all stay at home orders and allow businesses to open in order to save the most lives.
“I would let the virus circulate in the population that is not likely to get severe disease from it,” he wrote. “This is the only path that comes close to balancing the needs of all groups. Vaccines are not coming anytime soon, so natural immunity is the only way out for now. Every day, every week in the current situation is ruining innumerable lives in a criminally unjust manner.”
I could not agree more with Burry. We cannot help everyone the way it is, and the longer people’s lives are shut down the more people will need help.
Americans have already been told they can’t even go to a church service this Sunday on Easter to celebrate what is, for many, the holiest day of the year. That’s criminal and a rights violation of itself.
Individually, if you can help a small business that’s suffered, do so. But if this goes on for even a few more days, the outcomes for far too many of our fellow Americans will be more severe than we could have ever envisioned.
The best way to help Americans right now is to allow them to help themselves.
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