Coronaviruses are a large family of viruses, causing illness in people and disease in animals. Human coronaviruses are common and are typically associated with mild conditions, similar to the common cold. COVID-19 is a new disease identified in people. People infected with COVID-19 may have little to no symptoms or show symptoms that mimic the flu or common cold. Those symptoms are cough, fever, difficulty breathing and pneumonia in both lungs. As of May 7 2020, Canada as 1,001,958 people tested, 63895 confirmed cases and 4280 deaths. The virus path of destruction is more than a public health emergency. The economy of North America is at risk due to unemployment and dissolution as society ponder their financial situation and future. This article looks to enlighten the public to the real problem COVID19 poses and the real threat of particular groups of people losing their rights as citizens.
Our last global financial crisis, not including the depression of the 1930s dates back to 2007. As quoted from Wikipedia The trouble began in 2007 with a depreciation in the subprime mortgage market in the United States, and it developed into an international banking crisis with the collapse of the investment bank Lehman Brothers on September 15, 2008. Excessive risk takings by large banks served to magnify the problem creating an avalanche and a global economic downturn.
What did Canada do to alleviate the financial impact? The Bank of Canada has cut interest rates and provided liquidity to markets caught in a fevered rush to safe assets. The Trudeau government offered to lower rent as much as 75%, for small businesses forced to shut down due to COVID19. Businesses falling in this category paying less than $50,000 per month in rent and who have temporarily ceased operations, or have experienced at least a 70-per-cent drop in pre-COVID-19 revenues also qualify. The program is also available to charities and non-profit organizations. The Government of Canada websites indicates more than 800000 jobs lost. Statistics Canada graph shows that a $93 billion foodservice industry represents 4 per cent of the country’s GDP. Canada estimates that if conditions don’t improve, foodservice sales will be down nearly $20 billion for the second quarter of 2020. That said thousands of businesses will not qualify for this package.
The other fund is the $2,000 a month to workers who have lost income because of the COVID-19 pandemic. Estimate indicate more than 4 million people applying for this credit. The fund is to help workers pay rent and groceries for up to four months. He added the Government is also looking at boosting wage subsidies to businesses to avoid mass layoffs. The payments will be taxable income, and there will be a $200 income-tax deduction for a monthly total of $1,800.
Looking back at the past month, I see mixed reviews with regards to the policies implemented by our Prime Minister. Many believe the Government could have gone further by eliminating the GST charged on all products until our economy stabilizes. Others point to the job Donald Trump is doing south of the border-urging the public to give the Liberals some credit. Jennifer M Banks reply to the article in the Canadian Press is priceless. Jennifer Banks suggests a mortgage freeze (if applicable) and rent freeze. Banks states, businesses have to roll the dice that the Government has it right. There are just so many compounding factors with providing short term relief. For example, we see a resurgence of cases and these businesses have to close a second time without even recovering from the first. Moreover, what happens when businesses fail when owners incur debt they cannot pay?
The most heartfelt, intelligent comment and reaction to the growing crisis is from a young man of Guyanese Canadian heritage named Ben. Ben is a young man in the construction business working through the pandemic. Ben is concerned about the future of his industry and the effect COVID19 will take on future buyers unable to purchase property due to job losses. Ben also stressed he’s thankful for the immediate aid provided by Government to fulltime workers, businesses and post secoundary students. Like myself, he feels Trudeau government as left an essential group out of the funding. We all have suffered due to pandemic. However, it is the people working a full shift during this crisis who encounter a greater danger. Why can’t the Government release an allowance for these workers—the grant in the form of transportation relief or a 3.50 per hour wage increase during the lockdown?
The COVID19 pandemic is firstly a global health crisis. It is threatening economic stability around the world but in regions known for prosperity; you’ll see the souls of these political entities light up the skies. For example, Donald Trump plans to open the full economy scale even though virus as not fallen to safe numbers. I urge you as Canadians not to fall for this myth that millions more will die if we don’t sacrifice the lives of blue-collar workers classified as expendable. If we were all forced back to work, we would all be in fear. Opening the economy serves one purpose but to make the wealthy owners and executive rich. We have all seen documentaries and videos of super-rich investors who took their lives when they lost everything during the great depression.
Imagine John Bezos of Amazon closing everything down until this pandemic ceases to exist. You’ll not see this as Amazon, Ingram Micro and large food chains, and meat processing plants remain open. Do your research Ingram Micro owned by HNA technology a Chinese based business with 118 billion in assets, total equity of 12.77 billion and 322 million Canadian. Restarting America and opening our borders to American transportation for businesses purposes means more people will die.
In conclusion, I urge all citizens to watch the actions of our politicians very closely. A few weeks ago, a conservative MP in Ontario stated On FB that he agreed with Trump policy of forcing people back to work. He indirectly stated the working class must die and suffer to maintain the economy. That is the thinking of the wealthy and many Conservatives. To give the working class a better social standing along with higher wages and more responsibilities might someday take away the social edge and upbringing along with the economic wealth. A person is poor; he has only himself to blame—a blue-collar worker, unemployed, or homeless person. You should have the right to choose. The economy won’t fall only the pockets of billionaires.