Doom: Into the depths of a Depression

The writing on the wall was easy to see, but it is still nevertheless difficult to fathom. This corona virus CoVid-19 has walloped our health and our economy, and now that it is out in the wild, there’s little we can do to prevent further damage. We are in for a terribly rocky ride.

Going on 7 months now, the lockdown we had to endure has decimated our economy. There was a virtual standstill of life. Wide swaths of the economy have ground to a halt, destroying companies in its wake.

  1. Entertainment: Restaurants, bars, travel, tourism have all been destroyed. With no income for 4-5 months and a second wave here, these industries, that employ a huge number of workers, cannot continue and thus have thrown their workers out into the cold. Rent is due and there’s not sufficient income to cover it. Hunker down, depend on savings, and possibly go out of business.
  2. Sports: Gyms, Yoga studios, dance studios have also ceased. Is there some way to wear a mask and allow these companies to open? This is really taking a tool on mental health.
    Retail: With people not able to go out, and stores locked shut for 5 months, retail is taking a beating. Malls and shopping centers have very little traffic and are under huge pressure to pay their mortgages. Leveraging up is the cement shoes of today.

I have always wondered what it was like during the 1930s depression. Here we are. This depression will reshape the thinking of people from here on in. Those that did live through the last depression have almost all died. Who can guide us through this dark time?

Though society is seemingly smarter than the 1930s and progress has been made, can we find novel ways to blunt the damage of such huge health and economic upheaval? I am not so sure. We shall soon find out. Brick by brick our society will fall apart. The rich will be able to sequester in their homes and wait it out, while the poor will need to make do.

I think a good and hard rethink of our society and how it runs is in order. Do the rules still make some sense? What is important to us, in our family and for our society?

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