The Pandemic, Vaccines, and the Economy

Published: February 23, 2021

Courtesy of Coronavirus vaccines are coming, but

On Sunday, February 21, 2021, we have lost 500,000 souls to the United States’ coronavirus. Many scientists say this did not have to happen; however, the past administration lied to us and played down this virus’s severity. There has been an increase in vaccinations to the new administration’s credit, and the death count has begun to fall. The projection is that with the advent of the several vaccines being implemented into society, our economy will require a turnaround with a steady increase throughout the year as confidence increases in the public and business community.

The Pandemic

 Andrew Joseph, in his article in Stat January 4, 2021, Andrew spoke about five milestones to look for in 2021 and how corvid19 has reshaped our lives. Several vaccines have been developed, such as Moderna and Pfizer/BioNTech will grow. The U.S. could also see the influx of shots from such companies as Johnson & Johnson, AstraZeneca, and Novavax, depending on clinical trial data and regulatory authorization.

Then you have other pundits that give a prediction on the end of the pandemic in 2021. In their January 20, 2021 article predicts Mckinsey and company  the future of the pandemic and the transition back to normalcy. Their prediction for return to normalcy in the second quarter of 2021 and the herd immunity will transpire in the third and fourth quarter. However, the new strains’ emergence will short circuit this timeline, and the slow start of implementing the vaccines due to the past administration lied to the nation. Plus, it was slower than expected placement into the arms of the public.

The Global Economy

The worldwide economy is expected to expand 4% in 2021 by implementing the various vaccine to hit the market and put into the public’s arms. Thus, it is dependent on the government showing a leadership position and policymakers moving programs forward to tame the pandemic and usher in confidence in the economy through business support. This projection was made in January 2021, and other weather events, such as the one that hit Texas with a cold snap that caused many Texans to lose the essentials of comfortable living, breached through the loss of power and bursting of pipes. Then there was the sharp increase in public utility charges that spiked from a few hundred dollars to as much as $10,000 for a single month’s electrical bill for one consumer.

A few of these types of global weather calamities can throw this projection out of sink.  Derick Thompson, a staff writer at the Atlantic, where he writes about the economy, technology, and the media, predicts 2021 in the U.S. In contrast, one is dismal, and the other is robust.

2021 U.S. Economic Projections

As of this editorial’s penning, the Biden administration has stepped up with a proposed 1.9 trillion dollar proposal to put America on the ground of “Making America Better.” Through infrastructure, giving businesses and families money to ride out this pandemic, and regroup and reopen the various companies that have shut down due to government demands in 2020. Thus, a new downtown landscape, whereas a 15-minute walk to anything one wants to do, will be within walking distance. Derick Thompson of the Atlantic envisions the restructuring of where cars park, giving way to more space for restaurant patrons to dine outdoors.

Public transportation slashed nationwide, as office workers will continue to work at home, and organizations will save money because of this.  The restructuring of the real estate market will also benefit from this change of more downtown dwellings, reducing public transportation and more activities within the complexes in which one lives.

The Biden Small Business PPP

President Joe Biden has put together a 1.9 trillion dollar program that will benefit small businesses with less than twenty employees. Consequently is the third PPP money that has been administered to enterprises that remain decimated by the pandemic. However, in the past two rollouts, larger organizations with relationships with banks or have attorneys or accountants they can call on were the recipients of getting this money, not the smaller firms it was meant for. The restaurants have been single-handedly devastated by this industry’s forced shutdown, and now many of them will not return to do business.

These small businesses will have a two-week window to apply before anyone else can submit their application. Women and people of color own the bulk of these businesses. These small businesses’ criteria are to have twenty or fewer employees, the backbone of small enterprises, not the three to five hundred employees given in the small business overview.

Then there are other caveats that this group will benefit from as of the certain releasing of prohibitions that in the past would alleviate small-business practitioners from gaining assess to acquiring funds as others have. Such as lending to organizations that have less than twenty-percent ownership. Or people who were arrested or convicted of crimes from a nonfraud felony in years past. And another caveat is the forgiving of student debt or the relief of those who have missed payments, and recognizing non-citizen legal residents can now as well apply for the PPP.

It appears the Biden administration is undoing the wrongs that the prior administration had done. Data has revealed that minority organizations that needed the promoted resources never had a chance, for their white counterparts got there’s much quicker with less resistance. The new PPP started January 11, 2021, and will end March 2021, and we will continue to monitor this new program and see how it fairs with minority businesses.

Final Thoughts

The pandemic, vaccines, and the economy are three different transitions we must move through in 2021 and maybe 2022. It appears the new administration has taken it seriously this war on the pandemic. Estimated by the summer we should have most Americans taking the vaccines, and the herd immunity will take care of the rest as we move back to normalcy.

The successful passage of the 1.9 trillion dollar PPP should give the nation the lift that it needs to boost confidence in the market that should bring sustainability for the rest of the year. This is The “Building Back America” that president Joe Biden has been speaking about and campaigned on, his vision for America. Now, let’s do the work.

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Donald E. Mitchell, D.B.A., M.B.A., B.B.A.

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