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Covid-19 Is Bankrupting American Companies at a Relentless Pace
- wonderwonder 6y agoI fear things are going to get worse soon. By ignoring the pandemic and encouraging the economy to reopen we are seeing a resurgence of the virus and squandering all of the very real capital we spent on the initial shutdown. We are going to alienate and reduce our foreign trade as Americans are going to be banned from travelling to nations where the virus is under control. We have no proof yet of gained immunity once one has had the virus so people could very well get sick again. Compounding this is a massive culture war where one side is deriding science and expertise. Unemployment is going to continue at a massive pace and soon state level governments will start running into funding issues if they have not already. The federal government has shown a reluctance to help out there. Now the federal government is calling for schools to reopen with no plan to do so and is very soon going to force both people and teachers to make awful choices. The plan of ignore the virus, its going to disappear very soon and lets move on with our lives is very clearly not working. The rest of the world realized this, why haven't we?
- theandrewbailey 6y agoLots of these companies had an incredible amount of debt. Turns out that it can be bad for business just as much as individuals.