The Coronavirus Recession or the Great Lockdown officially began on February 20th, 2020. We are waiting for the government to make a decision on when to lift the restriction and allow people to go back to work and reopen businesses. The question we should be asking is not when but, how do we return to normal after the restriction is lifted.
How Hospitals Can Return to Normal
Most hospitals have cancelled all the elective surgeries at the recommendation of the U.S. surgeon general, the American College of Surgeons, and the Centers for Medicare and Medicaid Services. This was due mainly to open up capacity, protect the patients and workers against transmission, conserve PPE supplies, and to allow deployment of staff to more critical areas such as the ICUs. Hospitals will need to address all these issues in order to return to normal operating pace.
Safe Surgeries
If you are in a leadership position, think about how you can provide safe surgeries and prevent your patients from contracting COVID-19. Hospitals have been able to drastically reduce iatrogenic infections and they can minimize the spread of COVID-19 by creating similar measures.
Staff Fears
You may also have some nurses or other health care workers who are afraid to take care of COVID-19 patients for fear they’ll bring it into their home. Having conversations about the real and perceived dangers will be necessary for the staff to return to their normal state of mind.
Personal Protective Equipments
We have seen the devastating effects of not having enough gowns, gloves, masks, and N95 respirators for the front line staff. According to the CDC report, as many as 9,000 health care providers have contracted the coronavirus and 27 have died. Many of them resorted to reusing the PPEs. Hospitals will need to stock their PPEs in order to return to normal operation. They will also need to anticipate the peak of COVID-19 admissions that have not occurred except in New York.
How Restaurants Can Return to Normal
How can we return to a normal dining out event? Restaurants can promote social distancing while the customers enjoy a good meal. First, separating the tables by 6 feet instead of stacking them so close that you can hear someone else’s conversation would be a start.
Second, the wait staff should wear masks. Customized masks with the restaurant’s logo would add some fun and lightness to the situation. The chef should wear a mask that goes on the chin and shields the mouth. This way, droplets from the chef’s mouth are contained. Just food for thought. Pun intended.
Finally, taking reservations to minimize waiting and therefore optimize social distancing would go a long way in restoring consumer confidence in dining out.
Markets
I’ve seen increasing number of markets wiping down the carts to prevent cross contamination of potential coronavirus infections. This is a great idea and should be the way of the future.
Cleanliness
South Korea, Japan, and Switzerland are few of the cleanest countries I visited. South Korea has been able to slow down the spread of coronavirus by cleaning and disinfecting the public buildings and the rails in the metro stations. In contrast, this is probably the cleanest America has ever been. Perhaps the coronavirus pandemic will kick start us in becoming a cleaner country.
How Work Can Return to Normal
The Great Lockdown forced Americans to work remotely through Zoom, Google Hangouts, Skype, and Microsoft Teams. Most noteworthy, telecommuting has decreased traffic, air pollution, driving time, while improving work-life balance. Thirty six percent of Americans are already engaged in the gig economy and this number is anticipated to grow. Working remotely should be incorporated into returning to normal work routine.
How Schools Can Return to Normal
The schools need to reopen in order for the adults to return to work. Denmark reopened their schools. Distancing the desks 6 feet apart, having the kids wash their hands every hour and by allowing smaller groups to recess may be the key in allowing the kids to return to a normal schedule.
Colleges
Remote learning has become popular for the reason that is convenient and cheaper. I remember hating the English 101 class in college due to the fact that it was at 8am on Monday mornings. In contrast, you can access the online classes in your pajamas when you get up at noon after a drunken stupor. This can’t be a bad thing.
How Air Travel Can Return to Normal
The airline industry has decline by 97% with 8 million jobs loss since the outbreak of the virus.
Airlines such as Alaska, Delta, and United Airlines have announced they are requiring passengers to wear masks. In addition, they would facilitate social distancing by limiting the number of passengers on the airplane and keeping middle seats vacant. Meanwhile, the airlines that are packing passengers at capacity without requiring passengers to wear masks are criticized.
Commercial airlines that promote safer flights will have an advantage with their customers. Add a nice, hot hand wipes before each meal and you got me on board.
Prepare for the Next Emergency
Additional outbreak exists either from people having a recurrent infection from a previous coronavirus exposure or something else entirely. Consequently, we must ready ourselves. Having a stockpile of emergency food, disinfectants, and toilet papers would be wise. Have an emergency fund to cover three months. Stash away some cash in case you can’t get to your bank. Think about other things you wish you had at the beginning of the Great Lockdown.
Entertainment
Having entertainment during the Great Lockdown can mean the difference between tranquility and domestic violence. Did you wish you had a treadmill or an elliptical during the stay in place? Perhaps some of the new ways of entertainment have become the new normal:
- Yoga at home
- Multiplayer games via the internet
- Singing on karaoke
- Having a Happy Hour on Facetime or Zoom with friends
- Streaming games
- Doing a 1000 piece puzzles
- Starting a blog
- Learning personal finance
How Can Real Estate Return to Normal
If you have been looking to buy, now may be a small window when you can find houses at a bargain from a panicked seller. Virtual Tours have become more popular since the Great Lockdown. In contrast, if you have wanted to list and sell your house, you may want to wait a little longer. Only time will tell how quickly the consumer confidence and economic recovery will occur. It will take some time for people to feel comfortable to make large purchases again.
The Stock Market
The DJIA went from 29,551 on 2/12/20 to 18,591 on 3/23/20. Don’t you wish you had bought more stocks on 3/23? It has rallied up to 23,876 as of 5/6/20. This doesn’t mean that the economy will bounce back up as quickly as the stock market. The stock market is an indication of how people project the economy will be. If you have extra cash, it is still a good time to buy stocks at a discount before the market returns to the new normal of what it was three months ago.
Final Thoughts
When the Great Lockdown lifts, what is the first thing you intend to do? What will it take to get you to return to normal way of working, dining out, traveling, and investing?
As always, stay safe, optimistic and live like there is no tomorrow.
“When it rains look for rainbows.
When it’s dark, look for stars.”
–Oscar Wilde
