03-13-2020, 10:22 AM
(03-13-2020, 07:20 AM)jgsz Wrote: I have read estimates that COVID-19 could make 30% to 70% of the population sick. That's a scary number.
How will COVID-19 impact the Region of Waterloo?
Does the stock market crash mean the end of the building boom in KW?
Will local businesses be able to absorb the economic impact? I assume there will be bankruptcies.
Will the hospitals be overwhelmed?
Will there be financial help for people who can't go to work?
Will social norms change permanently?
What will be the social and financial costs if schools have to close for longer than expected?
Etc. etc. etc...
Personally I think it is being blown out of proportion. BUT, if it is 30-70%...
1) I imagine many people will be laid off at least temporarily. A short term spike in unemployment - perhaps 10-20% rate.
2) Not sure if that would happen. Perhaps a 6 month slow-down.
3) I'd imagine some local businesses to hurt -- though I do expect government help.
4) Only of that 30-70% comes true.
5) I imagine that unemployment rules might change a bit, possible interest freeze and debt repayment freeze.
6) They shouldn't, but we're a fear based society, not reality based.
7) Schools will need to do more online. It's a shame that media demonized online learning so bad because of their hatred for Ford and Conservatives, but now the reality is that this might be the ONLY way to finish school this year, at least high school. But if this more than the 2 weeks additional of high school missed, online will be mandatory for kids that want or need summer jobs or heading off to University.
On the last point, I believe that government needs re-address the online learning they wanted and perhaps force it. The teachers hate it, but the teachers can't teach now. Good mess.
Either way, as I mentioned, this covid-19 I believe is blown out of proportion. It's not going to kill more people than seasonal flu. It's not going to be life altering for younglings (which is so unusual, as you know). Humans have a unique at creating crisis where it doesn't exist that actually level of crisis.