If you’re worried about where you’ll be financially on the other side of the Covid-19 health crisis, you probably need to join in on this discussion with our partners, The Black Coffee Company.
On Wednesday, The Black Coffee Company is hosting an online discussion to talk about the short and long term implications of shutdowns occurring due to the global coronavirus health crisis. A special addition to their community conversation series, the event is organized as a way to respond to the growing concerns expressed by members of their business community during the pandemic.
“The world and our global economy is currently spinning to a halt due to this Corvid-19 epidemic,” says Jamin Butler, one of the five founders.
Butler goes on. “Our founders have taken up the charge and are committed to do two things; one make sure our community is educated to the dangers of this Corvid-19 outbreak; and 2, [to] make sure our members are prepared to participate in the financial opportunities that have now surfaced.”
Questions that will be explored during the discussion are the following: What are the macro and micro effects for the US economy? Globally? How will small business owners, entrepreneurs need to adapt in order to survive? What is a business payroll tax deduction?
President Donald Trump addressing White House press about the Covid-19 pandemic in the US.
“Due to our experiences with the 2008 financial crisis our collective can’t help but wonder are there other factors at play specifically within the financial markets in the global economy,” adds Butler.
After the 2008 financial meltdown, the Barack Obama Administration bailed out banks, insurance companies, real estate and the automobile industry. With The Emergency Economic Stabilization Act of 2008, a $700 billion fund infused major corporations with the idea that it would trickle down to the masses. However, banks’ small-business lending decreased dramatically and thousands of people lost homes. African Americans took the largest hit and lost millions in home equity assets.
As the infected rates increase in the US, states are gradually closing schools, bars, restaurants and other public facilities.
“I’m worried about the hourly staff at my school,” said Selma Augustine, an elementary school teacher in Los Angeles who says her school shuttered for at least a month and will be going online.
Along with businesses closing, the markets performed at an all time low. This week, the S&P 500 dropped to 2,386, and global oil prices fell below $30.
“The tanking of the financial markets is deliberate and those who are in position with cash, capital, and assets “the 1%” are going to once again reap the rewards of this rigged economy,” says Butler.
With talks of a bailout in a post-Covid 19 pandemic, small businesses and working citizens are unsure that they’ll be included. Already, the feds have cut interest rates to zero. Added, the Trump Administration proposed cutting a check for US citizens who cannot work. The amount is unknown, but the range is said to be around $1,000. Hopefully, this online discussion can provide answers.
The Zoom meeting will be held from 6:00 p.m. to 7:30 p.m. PST. For more information, go to their event page at Facebook.com/BlkCoffeeCo.
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