How the worst economic recession in the last 90 years created the best outcome for everyone.
WASHINGTON, DC, UNITED STATES OF AMERICA, December 23, 2020 /EINPresswire.com/ — Whether it’s true or not, one of the stories of the coronavirus pandemic was that the virus was first discovered in a wet market in Wuhan, China. The virus started being blamed as the culprit of many deaths.. According to the data, 9 out of 10 individuals are who are being identified as “death from coronavirus” are older than the age of 60 and already in a weakened condition with unhealthy immune systems. Due to the Coronavirus threat, organizations were mandated by Governors to reduce hours, reduce capacity, or shut down to reduce the rate of infection until “a cure was found.” These orders brought serious hardship to both employers and employees. Some employees were laid off, while some were asked to proceed on a compulsory leave without pay. The economic damage caused by forced closures is very clear, and it is regarded as the biggest economic stoppage most people in our world have ever experienced. The effect of the forced shutdowns has left business owners and leaders around the world hoping for a fast and sufficient economic stimulus. Most organizations and employees were not prepared for a situation like this, and almost all of them are at the mercy of the government loans, unemployment benefits, or other sources for survival.
In 2017, VOWAS was established to provide additional sources of income at a nominal cost. Short-term issues from the forced operational changes have already resulted in backlashes such as rioting, looting, and increased crime in 2020. The tremendous efforts by Congress to negate the negative effects on citizens through loans-only does not create a sustainable economy over the long run. Loans leave an unforgettable scar which shows up as debt over the lives of organizations. Did you know, if your organization is VOWAS accredited, they may also qualify for a 100% matching state and federal corporate tax credit program, and tools and resources to enable your organization’s manual laborers to work less each week and earn more income.
Big shifts were recorded in the stock markets in 2020. The FTSE, Dow Jones Industrial Average and the Nikkei all recorded a big decline in revenue as the number of Covid-19 cases increases. They recorded the biggest decline in revenue in the first quarter of the year since 1987. This led to the slashing of interest rate by the central banks in several countries, including the USA and other European countries, this was done in order to reduce the cost of borrowing and encourage spending to boost the economy.
Congress enabled the issuing of hundreds of billions in SBA sponsored, government-backed loans, which was was necessary. Some economic experts warned that there would be tension until fears the pandemic were gone. The truth is that various types of viruses will continue to be blamed on the deaths of people, every day. The forced business changes have left millions of people needing income from jobs all over the world. According to the International Monetary Fund (IMF), the number of people believed to be out of job topped around 10.4% in the United States. Millions of employees in many organizations have been put on government-supported job retention schemes as parts of the effort by the government to stabilize incomes. Tourism, sport, and hospitality industries were hit very hard as operations came to a standstill during lockdown.
The IMF believes the global economy will prove to have been reduced by 3% in the year 2020, making this year the worst economic contraction since the Great Depression happened in the 1930s. A 100-year economic tsunami was created in 2020. The IMF also believes the economy will grow and rise to 5.8% in the year 2021, if there is no resurgence of state Governor-forced closures and operations shutdowns. It may be important to note many leaders, including those supporting exiting President Donald Trump and entering President Joe Biden, believe forced closures were not truthfully going to solve the Coronavirus issue.
As common sense began to prevail in mid 2020, leaders all over the world began re-opening the economy. Football, soccer, and basketball fans are now allowed to enter the stadium in some countries but there are still fears from contracting coronavirus. The news about the progress of the development of a vaccine brings hope to the sick, the elderly, and the weakened as many people because believe it will help them continue life in a healthier fashion. Although it usually takes several years to develop a potent vaccine, thanks in part to “Operation Warp Speed” per POTUS, a vaccine appeared in only a few months. The success of developing a vaccine that quickly is a huge accelerated breakthrough, but there are no assurance the vaccine will work. Only time will tell if it helps prevent attribution of death to the Coronavirus.
VOWAS provides Portable Universal Total Care to help minimize out-of-pocket hospital and doctor costs, and provides cash allowances for their dependents including spouses, children, disabled, and retired family members. VOWAS also provides for qualified members up to a 100% personal income state tax credit and a 100% personal federal tax credit. More information about VOWAS can be seen on their website (https://www.VOWAS.org).
You have a right to VOWAS. Your existence gives value to your community and our economy. A benefits and services program provides you, your household, and your community with a financial safety net in order to ensure the rights to life, liberty, and pursuit of happiness is upheld by your nation.
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