Recessions are bound to happen but it is important to remember that they do not last forever. In spite of all of the economic losses humanity is currently experiencing, it is important to understand that the economy functions in a vicious cycle filled with bull and bear markets. We live in a world where multiple vaccines were produced in less than two years. And fortunately, we’re better equipped to handle the problem, he says.” In the 1900’s when the Spanish flu had spread, society at the time had neither the manpower nor the advanced technology to cope with the virus. “ Pandemics are not new to the human species - “they’re just new to us,” Christakis says. The pandemic, as terrible as it was, could have been worse. Stocks such as GameStop and American Multi-Cinema have been some of the most shorted stocks in this past year due to the businesses suffering financially and having to close shops in their various locations. Although messages of remaining local and keeping small businesses open have been put out, almost one in three small businesses have closed which has added to the incurred losses of the economy. The mere concept of COVID-19 being a conspiracy has led to division and conflict not only amongst the people but also between the general public and the government. Reconstituted 24 June 1921 in the Organized Reserves as the 312th Infantry and assigned to the 78th Division. Organized August-September 1917 at Camp Dix, New Jersey. Even with attempts to enforce social distancing measures, some insist on being without masks. Constituted 5 August 1917 in the National Army as the 312th Infantry and assigned to the 78th Division. Patrick De Haan, Head of Petroleum Analysis for the website and app GasBuddy, stated “Prices are going up significantly not just because demand is up, but because OPEC has cut production in the last 12 months because of the pandemic.” Moreover, with the winter storm in Texas refineries in the state had to shut down.ĭespite the emphasis on the importance of global solidarity government organizations have been putting out, the reality is that there has been more disunity. With the heavy reliance on automobiles the demand for gas has been higher whilst the supply of it has been lower. Gas price has steadily increased for the past year due to the invisible hand of the market. And yet, Christakis foresees the beginning of 2024 to be the start of the post-pandemic period, similar to the Roaring 20’s. was already in debt prior to the pandemic and now the government is neck-deep with debt. Already, millions of people have lost their jobs, lost their businesses, and their children have lost their education. Anthony Fauci, only 85%-90% herd immunity would be needed for life to return as it was, but time is lost as we wait. ![]() In his most recent book, he details that a vaccine alone is not enough to curb the spread of COVID-19- herd immunity is needed. Professor of Natural and Social Sciences at Yale University, Nicholas Christakis, predicts the pandemic to actively impact our economy till 2024. And experts are predicting a double-dip recession. There may be a shortage of vaccines but there is no shortage of negative impacts COVID-19 is having on the economy.
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