I believe that our economy is strong. I believe it is remarkably flexible and resilient. A couple of weeks ago I shared our thoughts in verse about economics considering COVID-19 and the “Oil Price War.” You also got a glimpse of my love for Mexican food. As we have watched the story unfold, we have revised our assumptions. The discipline of economics often feels like a luxury when it is growing and healthy, but we can’t forget the close relationship the discipline has with public welfare and social justice. I believe our response at local levels has caused significant economic damage (threatening small businesses and putting the vulnerable out of work and at risk), and will fail to protect our communities from COVID-19. WE MUST FOLLOW CDC GUIDANCE, but in fear, we have not. The future is in our hands.
You can download our in-depth study of what has been going on. The data shows a very different reality from the rumors that are circulating. If you know anyone in local or state government, please consider passing the study along to them.
As far as the Economy is concerned, The S&P 500 has priced in somewhere around twice as much economic castastrophe as seems likely to occur here. Furthermore, I have consistently been amazed by the fortitude and adaptation American businesses have shown in times of crisis. We will see this even more this year. We care about our employees, their families, and the people in our communities. We are likely at the bottom and will begin to recover soon.
WHAT YOU CAN DO: Small Businesses built our great nation. Even the largest businesses were once a kitchen table conversation. Our small businesses have carried us through “the best of times, and the worst of times.” We will continue to do so if we band together and refuse to give up. If you own a business, you’re our lifeline. You are our strength. Stay strong, and be the courageous entrepreneur God created you to be. Let’s carry our community through this. Never give up. Never give in.