When Do You Think Our Economy Will Bounce Back?
- Category: Business
- Published: Thursday, 08 October 2020 13:54
Can you imagine when a vaccine hits these streets, borders re-open and the logistics and supply chains of global and international enterprises stabilize? I can.
I’ve asked this question many times to Orlando residents and involved members of various Black communities, to which they all had a different reply.
A tax and credit expert I know said she thinks it will be a slow grind. In result of folks losing their jobs, they are now behind on their bills. So, the first thing one must do is find a job, then they have to dig themselves out of the financial hole that is at least 1 year deep. What if they had to give an IOU to Peter in order to pay Paul? Or worst, borrow from Peter to pay Paul? To straighten out all of these things will take time.
Another answer I got didn’t sway one way or the other but it was extremely interesting. This came from the founder of one of Central Florida’s top Black media and marketing companies. He concludes that because of the untimely and catastrophic chain of natural and political events, there’s been a major shift on our mindset in reference to money and the U.S. economy. Before, we would look around our neighborhoods and see no change, resulting in us hanging our hats on the idea that politics and who was in office did not affect our everyday lives. However, these uncertain times have pulled back the curtain and yanked the rug from under us, revealing what really is essential. This was a hard but necessary lesson to be learned, because now, everyone is paying attention. I passionately believe the bounce back of the economy will heavily depend on who is elected, their plans for health care, stimulus relief bills, acts for small businesses, tax cuts and of course, wage and labor laws.
One guy I asked runs a small bar and grill downtown. The lounge opened for business, January 10th. He stated, “due to national layoffs in particular industries that have an astronomical impact on us, like retail, food and entertainment, I believe our economy will bounce back ONLY when people feel safe.”
3 months ago, I would have undoubtedly boasted that the economy will be back soon. But, valid points were made here and taking each difference of opinion into account on this topic left me asking myself again, will this be a swift or slow and excruciating bounce back? My answer is, Idon’t know. All I know is what I am currently feeling and what I feel is anticipation. Once things are declared safe, I’m going off the rails! All my coins will be spent on creating memories through travel and live experiences. There will be far less time spent on my devices and social media because I’ve got places to go, things to do and people to catch up with. As a fellow consumer and patron, I cannot wait to attend everybody’s festivals, basketball games and comedy shows. My vision board now includes visiting Universal Studios and shopping til’ I drop at the Prime Outlet mall, because for an entire year, I couldn’t.
By Lynsley Robinson,
Founder of Been on Brand