Hurricanes have been in the news again recently as Hurricane Sally is wreaking havoc, slowing moving along the gulf coast with damaging winds and heavy flooding expected from the Florida Panhandle through Southeastern Mississippi.
The COVID-19 crisis can be viewed as being hurricane-like in its impact, moving slowly along the national landscape causing damage of all kinds. While some recent numbers have been encouraging, many experts are concerned that we may be in the eye of the hurricane...a brief calmness before the second wave of the storm hits. They are concerned that a relaxing of measures leading into seasonal flu season and upcoming fall and winter weather driving people into fewer social distancing options....could result in a spike we are not prepared to handle.
Regardless of whether or not their health concerns are accurate, there is no denying the economic impact is certainly about to be felt in a 'second wave' type pattern.
Yesterday, for example, Nashville released figures stating that the crisis has cost the city nearly $3 BILLION in tourist revenue alone. (story here)
Economies all across the nation, across Tennessee, and in every local county and town are being affected by this crisis. The tax revenue impact is ultimately felt by everyone, as governmental services will be affected and ultimately those who need help the most are hurt worst. The effects of the COVID-19 crisis haven't really been felt just yet, and they will be long term in their reach.
Smart families are planning their next steps, including debt resolution or bankruptcy choices.
If you already feel your financial situation is out of control...contact us for a FREE CONSULTATION for debt resolution and/or bankruptcy at (731) 423-1888. The law office of T. Verner Smith has helped thousands overcome financial problems, and can help you too. Call today!
Verner smith blog
Call us at (731) 423-1888