An economic suicide (IM 548)

America, the powerhouse of economy is committing suicide as we are witnessing the largest economic shock in the history of human kind. It’s faster, bigger and more devastating than any world wars. Last week the unemployment skyrocketed to about 7 million which is a record high.

Though the stimulus bill was passed by the Congress, it’s not sufficient to support the economy and help businesses. According to some research, the portion of the stimulus meant to support business is enough to keep the economy going for just one week.  It’s obvious. Just think about it. The economy of America is about 20 trillion dollar every year. The stimulus bill can just to pacify the crisis for some time which is the reason people are beginning to panic.

This pandemic will surely last months but the bill passed to keep economy going lasted just a week which already passed. Not only small business are experiencing  a dead end but also the large corporation are going through the tough time. We will see many big companies going bankrupt this year including oils, Airlines and many others.

Coronavirus is the drug killing the modern economy and nobody knows the antidote. It has attacked the heart of economy making them commit suicide.

“Debt”, “credit”, “money”, and “finance”: these four social construct come into play during this crisis. But how will the America react to it before it’s too late?

 

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