Ask HN: Economy after coronavirus – what can we do?
I&#x27;ve been thinking about this a lot and will be writing a blog post soon in terms of thinking about risk post-COVID-19. Thanks for asking the question because it&#x27;s an important one -- it&#x27;s easy to lose sight of the longer-term implications, given that we DO need to focus on saving lives in the short run.<p>There are a few things I&#x27;d say...<p>(1) COVID-19 is destroying international trust. The EU nations are closing their borders to each other, there is hoarding of supplies between countries, and stories are coming out now that countries might want to have exclusivity to vaccines. This is NOT supposed to happen with allies, and I think countries will have major trust issues and collaboration issues post-COVID-19.<p>(2) A lot of the economic stimuli will lead to significant increases in debt, but also NEW monetary and financial strategies. Countries are discussing encouraging central banks to buy stocks, mortgage-backed security, nationalize factories, and more. This means government debt will increase significantly, and corporate debt will be an issue as well. As earnings announcements are made for Q1, Q2, etc... we&#x27;ll see just how bad this has gotten.<p>(3) Small businesses will be shutting down. Even if there are debt forgiveness programs driven by government debt (i.e., #2 above), the stress and short-term cashflow issues of many small businesses will likely cause many to shut down.<p>I can go on and on... I can also provide citations for any part you&#x27;d like to see.<p>Having said all of that, I think a few things are important:<p>(1) Promote social cohesion. People are scared, nervous, unsure what to do -- organize online events, reach out to people, etc.<p>(2) When it&#x27;s safe, SPEND MONEY with SMALL BUSINESSES. I think this will be critical.<p>(3) Encourage your governments to work with other governments, and speak out against the politicians&#x2F;governors&#x2F;MPs&#x2F;whatever that specifically were irresponsible during this period. Don&#x27;t let them get re-elected.<p>... I can go on and on... Just let me know. :-)