The Economic Turmoil of The Coronavirus
Start writing a post
Health and Wellness

The Economic Turmoil of The Coronavirus

The global pandemic known as the Coronavirus can spell one of the worst economic disasters in history

The Economic Turmoil of The Coronavirus

If you have been keeping up with the news, you know that the Coronavirus outbreak has been dominating the headlines over the past few months, and needless, it hasn't been pretty. What started out as an international outbreak originating from China has morphed into a global pandemic with nations including the U.S. all across calling for state of emergencies while cities are closing off. The Coroanvirus is indeed a serious health crisis for all nations, but the economic turbulence as a result is an even bigger concern.

As the pandemic continues to grow, the economy has taken a plunge. The stock market has dropped, international trade have been disrupted, and major annual events such as Coachella, SXSW Festival, and E3 to name a few have been cancelled over concern of the virus. Meanwhile, President Trump has proposed a complete cut of payroll taxes in effort to keep social security and medicare intact.

While there is no doubt everyone should be cautious about the health risks at hand, they should really take in consideration to the devastating effect it can have on the global economy. With many businesses closing down, many goods and services are slowly depleting and many are being laid off from their jobs. And with the CDC struggling to contain the pandemic, many believe we could be facing another economic disaster on the scale of the 2008 economic collapse, and that is a valid concern.

The idea is scary, especially for college kids approaching graduation, that is why it is important to take in consideration the economic struggle that is set to come even years after the the virus is contained and the hardships countries will face in trying to repair their economies. No doubt is the virus is serious threat to everyone's health, but the economic threat it poses is even more alarming.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.

A Complete List Of Women's Gifts For Christmas

If you're looking for the perfect gift, here's a list.

Wrapped gifts on the floor

In an age where women are multi-faceted and have a wide range of interests, finding the perfect Christmas gift can sometimes feel like a challenge. But fear not - we've compiled a list of unique and thoughtful gift ideas specifically tailored to delight the women in your life. Whether she's a fashionista, a tech enthusiast, or a book lover, there's something here for every woman to make her holiday season extra special.

Keep Reading...Show less

5 Different Religions And Their Unique Christmas Celebrations

From Hanukkah Lights to Nativity Scenes: 5 Faiths' Unique Takes on the Christmas Spirit

Christmas traditions

The Holidays are a time for being with friends and family and celebrating the birth of Christ, but sometimes we forget to acknowledge the other religions and what they celebrate. Some religions like the Islam do not even celebrate Christmas and then you have others, the Buddhists, who use the holiday to practice their religion of spreading peace and goodwill. In no particular order, I would like to demonstrate a little culture about the ways Christmas is celebrated or is not celebrated throughout five different religions.

Keep Reading...Show less

12 Reasons Why I Love Christmas

What's Not To Love? But These Reasons Are Why Christmas Is Best

Young woman with open arms enjoying the snow on a street decorated with Christmas lights.

There are so many reasons why I love the Christmas time! Check out the joy that makes this time of year truly special, from festive traditions to heartwarming moments. Enjoy!

Keep Reading...Show less

A Beginner's Wine Appreciation Course

While I most certainly do not know everything, I feel like I know more than the average 21-year-old about vino, so I wrote this beginner's wine appreciate course to help YOU navigate the wine world and drink like a pro.

White wine being poured into a glass

Keep Reading...Show less
Types of ice cream

Who doesn't love ice cream? People from all over the world enjoy the frozen dessert, but different countries have their own twists on the classic treat.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments