The following report is from WSBT 22:
The coronavirus pandemic has left a big imprint on our economy. Businesses have been forced to scale back operations and some forced to close. But what does the future hold as more people start to receive vaccines?
The economic downturn caused by the pandemic has been unlike anything we’ve seen before. Recessions historically have had a more widespread impact on people and industries. But this time, the hardship is not being felt equally.
We spoke with some of our area’s economic leaders to learn what this means for our future.
Some businesses have been hit hard – for a whole year. Stay-at-home orders have discouraged tourism and hotel stays and capacity restrictions have limited how many people can eat at a restaurant.
By adapting to the challenges, Cinco 5 in South Bend is still open. Co-owner Leonardo Duran says they were able to do that by expanding online ordering and carry-out and modifying staffing.
It’s not just because we adapted, it’s the support we got from our community, our guests, friends, family. So that is what played the most part into why were still here.
Joe Duran
Cinco 5 has been busy, but Duran says smooth sailing isn’t guaranteed. Notre Dame economics professor Rudi Bachmann says other businesses are in the same boat.
He expects more local businesses will shut down.
Until we can sort of you know – demand comes roaring back, more businesses will go under. I think that’s kind of inevitable.
Rudi Bachmann
Indiana Chamber of Commerce President and CEO Kevin Brinegar says that’s part of the state’s K-shaped recovery.
Some industries – including hospitality – are still struggling. But others – like RV companies – are surging.
We see many employers on that side of the K-shaped curve that are looking for people, have jobs available. They are trying to fill positions, find people with the skills they need.
Kevin Brinegar
But Brinegar says the pandemic has only sped up the push for many manufacturers to automate. That’s why he encourages lower-skilled workers to gain new knowledge to prepare for the post-pandemic world.
They’re going to need to go back for more training, for more education and lift up their skills.
In between the changes and ups and downs of the workforce, many people have not had interruptions to their income. In fact, this is the first recession where economists are seeing more people adding to their savings and disposable income.
That means a lot of people are sitting on a lot of purchasing power right now.
Rudi Bachmann
He and Brinegar say if people have the means, they’ll be ready to spend their money on activities that have been restricted during the pandemic.
I strongly believe that a necessary condition for a booming economy will be that we have the pandemic more or less under control.
Without question, there is a lot of pent up demand that we would hope by the second half of the summer and into the fall is going to be unleashed in a big way.
Kevin Brinegar
And as many business owners are hoping and planning on that happening, Duran says that means getting back to hiring.
I think we are going to be overwhelmed with people wanting to dine out. I don’t know if I’m ready!
Joe Duran
As our economy bounces back, some business trends that have emerged during the pandemic are expected to stay.
More people will keep working from home and business travel will stay down. Those changes could permanently suppress companies who previously catered to those workers.
AUTHOR COMMENTARY
This is one of the local news outlets from my area in St. Joseph County. I am mentioning this report because it further reiterates some of the things we have been writing and warning about. Indiana, among the other states, has been on, in my opinion, the “lighter side” of the draconian lockdowns that have allowed people a little more breathing room, but just enough restrictions to not get media chastisement. It is still oppression no matter how you slice it so I do not allow myself to get suckered into the nonsense of thinking my governor is a “Godsend,” like so many Republicans are doing with their governors right now with the lifting of restrictions. Our governor has yet to announce the lifting of masks mandates.
All of that to say, the lockdowns, obviously, have just crushed small business while the bigs continually got richer and will only continue to do so without another round of stimulus, which is a “scamulus” and should rightfully called for what it is: DEBT. When the media on both wings propagandizes the masses of job creation, they are flat out lying. They never tell you in what sectors they are, first of all; and secondly, these jobs are NOT created: they are jobs that were lost because the government inadvertently shutdown their business. So these “created jobs” are just people returning to the hospitality, service, and public sectors.
What’s lost is lost and will not be coming back. Period. The end.
A prudent man foreseeth the evil, and hideth himself; but the simple pass on, and are punished.
Proverbs 27:12
By faith Noah, being warned of God of things not seen as yet, moved with fear, prepared an ark to the saving of his house; by the which he condemned the world, and became heir of the righteousness which is by faith.
Hebrews 11:7
The report also brings up some important things to note. It is true that people are stocking up on cash more so than ever before. We reported how 38% people said in a survey they would give up sex just to travel. When the media, politicians, and medical mafia decided to let up on the nonsense, it will be the Roaring 2021. People will be spending like crazy and the debts will continue to pile again even higher. This will lead to the market’s inevitable correction and crash that will cause a chain reaction of so many bubbles popping that will lead to devastation we have never seen.
I am saying all of this because you need to be building your ark. You KNOW massive destruction is coming, so now, will you take heed to the warnings? Noah is described as a preacher of righteousness (2 Peter 2:5) – in the hundreds of years it took to build the ark he no doubt was preaching the coming judgment from the Lord: and the masses did not listen and only eight people were saved from the flood.
As more and more things open up and people go out and party, DO NOT get lackadaisical and conceited. Take the opportunities to prepare and stock up on things that will sustain you from the rough and murky waters approaching. If you do not, you will sink. Don’t think that just because you are saved that God is supposed to bless laziness. NEWS FLASH: he will not.
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