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Coronavirus On The Economy -Lolita Bell, 4/5/20

Life is currently on pause right now and businesses are struggling. For example, Mark Canlis restaurant in Seattle was selling a 135 dollar tasting menu only two weeks ago every night. Now Marks restaurant is going to become a drive-through that will serve burgers. Barely holding up what he used to make just a few weeks ago. In addition, Kalena’s real estate agent in California was making offers of 1.2 million per home. Now Kalena is trying to save her sales as they keep falling through. Coronavirus changed how everything operates. All tournaments are canceled, all professional sports are on hold, even Disneyland is closed, even though it stayed open during a recession 10 years ago. This has not happened to the economy since September 11. This is not just the economy slowing down but actually put on pause. This outbreak will likely cause a major recession. Because of restaurants being closed, that means that over 800 employers have to be laid off. This affects people’s life tremendously. Due to restaurants closing, they will not need tablecloths delivered or alcohol, which means those businesses will lose a lot of money too. In addition, when people stop flying they don’t need taxis and users from the airport. So now that the outbreak has put a pause on life. People will have trouble making enough money to afford to live their daily lives. I believe that people will struggle financially for many years after this outbreak. Unfortunately, this unexpected recession has made many people struggle with their day to day lives.

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