Letters to Lou: COVID-19 Crisis

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Question: With the coronavirus and everything in the media, do you think this is worth panicking or is it government antics? I don’t know whether to stay inside or take advantage of all these low prices.

Answer: I was quite skeptical at first as well. I had a $30 round trip ticket to Miami in my cart. However, I had to realize as a civilian it is my duty to assist in coexisting.

It’s selfish of us, despite our reservations, to still go out while aware there’s a possibility of contracting the virus.

It’s not just that people are dying, but that many people can be carriers. A great amount of people who have tested positive for the virus have now shared they have no symptoms. So, I urge you to be mindful, to take precautions and to stay inside for the time being. The discounted prices should not be worth your life or your loved ones’.

Question: Do you think the fallout of this disease will be bad? Should I invest in these stocks while I can?

Answer: I think the government has been doing its part, or at least trying. The U.S. government is aiming to provide money to most households and state governments that are closing businesses to minimize contact. I think this is a great time for collaboration. People are coming together to keep small businesses afloat.

However, I am slightly nervous of a period of recession. There is potential it could be very bad, but it depends on how you look at things.

Recently I went to the store and saw streets being rebuilt, trash being picked up and less air pollution from the big trucks that usually populate the highways. This time spent at home could be giving everyone a chance to reset. We could end up seeing cleaner streets, more at peace and rested bosses and cleaner air.

In the past, the U.S. has had a recession and has been able to bounce back and rebuild, so I believe in us. Investing wisely could be good because once things go back to normal you could have a lot of corporate involvement/say so. However, survival is ultimately what is important. Make sure that if the investing doesn’t pan out, you are still able to provide necessities for yourself.

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