Topic: Economy after COVID-19 - page 28. (Read 9008 times)

Goverment will try everything for the faster recovery of the economy. There may be additional taxes, and higher price of goods especially the main needs. Schools and classes will be back to normal. There are more employees who will come to work and ofcourse employees who will apply due to they lose their job because of this pandemic.

Credit card and debit cards have a difference though that helps banks make a profit. In debit cards you are not paying any interest rates, you basically spend the money you have and nothing more and banks are not making any profit from it at all, if you always live within your means and never take out a credit card or a loan and never make a debt that means banks could potentially never make a profit from individuals. They still have investment side of their business where they buy a ton of shares and make a profit but at least you prevent profiting from individuals which is a huge kick in the balls to banks.

Credit cards on the other hand are not like that, you spend the money you do not have right now but will have, you make a debt and then you pay it with interest when you have the money, sometimes very quickly right away, sometimes takes time but it is always a debt that you need to pay later on.

in my country has entered a new normal phase where we have to coexist with COVID-19 whether it is the right step or there will be another explosion of spread. however, some regions have already undergone normal economic activities but still follow the government's recommendation to wear masks. and in my opinion it takes about 1-2 years or more for the global economy to return to normal as before.

Covid 19 is really a big trial to all it is now the big problem that we are now facing, after this pandemic i am sure that the economy will fall, because everyone is now leaning on the government everyone's work is affected due to the continuous rise of the people who get infected to the said virus. But i believe that after this pandemic we wil still rise and we will back to normal life we need to pray for the emediate release of the vaccine to prevent this virus to scattered and no one will sacrifice life.

This method is still widely used because debit cards are one of the most effective payments for today, even with strong security compared to cryptocurrency when compared. Banks still have a lot of authority in this transaction, so it is impossible to close down, even if the reserves are very large if something happens. bad like because of this corona virus but still because it has become legal throughout the world then this physical transaction will be increasingly used even though we think it will be the spread of the virus because it is in direct contact with others.

It is true that debit cards and credit cards can be ascertained to be connected to machines that operate in the respective central banks. even in my country all transactions are centralized through the central bank to facilitate interbank transactions.

what you say is true that as long as there is a manual transaction especially with paper money, there will be a very slow transmission effect. and even in my country some are infected because shopping uses paper money and from there it is indicated infected because he has never left the house other than shopping. Likewise, the payment instrument using the card remains vulnerable because in my country using a pin that must be in contact with the tool.

the best way of course with a renewable system that has been widely circulated to avoid direct contact with hands, namely through a smart online application with a barcode facility on each transaction, so there will be no direct contact because it is enough with a cellphone.

Nope, you're totally wrong. The debit cards and credit cards you have mentioned here are controlled by banks, so how does making use of them put the banks out of business? It's not even possible.

I think banks now have many means that they can generate income and it's just about the fees for transactions that you're thinking it is. And moreover debit/credit cards are still physical means of making transactions, and you will have to hand it over to the cashier who will then use it on their POS to debit your account and make payments. So, there's still the possibility of spreading the virus through it. But I still don't think people will stop making use of these methods.

But where I live people are still leading usual life and acting like they don’t give a d*mn about the virus that’s killing lately. The most important is to make sure you wear your mask and avoid touching your face and also wash your hands regularly and keep things clean. You will hardly find places where cryptocurrency is being accepted as payment, unless you’re searching online. When it comes to online we already know there are sites similar to Amazon that we can buy things from using Bitcoin, such as Newegg and Overstock (each deals on particular products).

I read some part of people are making use of cryptocurrencies at a new high after covid19 pandemic but we are not seeing any spike on bitcoin market still if  this pandemic chaos is launching people to adopt cryptocurrency for their own level of convenience then I guess somehow they could build their economy better than before.

It's always the best ones that survives any financial situation.

Also, some industries and businesses thrive while others may fall, depending on the circumstances involved. That's why the key is to ensure that you follow where the market demand is going.

And with social distancing, a lot of people are often inside their homes, the thriving businesses right now are pointing online and online deliveries is likely going along for the ride as well.

With the Covid-19 process, many habits of people have changed and continue to change. Naturally, this change has also affected the economy because many sectors have been adversely affected after the pandemic process. In this process, we can see very comfortably that many businesses are on the brink of bankruptcy, people are becoming more impoverished, unemployment is increasing and country economies are declining. All these factors that I have mentioned will cause serious economic problems in the coming years and it will take a long time for these results to improve. In short, even if the disease has lost its effect, it has had enormous effects in a short period of time. If this disease does not cease in the near future, then these problems that I mentioned will increase gradually and the world economy will have to bear the pain of them very seriously.

I guess economy didn't take a huge hit due to lockdown and only a small part of businesses is affected. So it won't be much of a problem to restart the economy right after the lockdown is lifted off, as only a certain number of businesses are allowed to open in start so they will start building up the economy and gradually everything will open up even the schools and collages will also open and this will strengthen the economy more. Also banks will be willing to give loans at a cheaper interest rate than ever before so this will also be leaving good impact on the world economy.

what is needed when is the existence and needs of drugs and vaccines that must be found immediately. without it all that is done now is only trying to discipline people so there is no transmission from the sick to the healthy. but the main problem is that the corona pandemic stops not happening.

at the start of the pandemic, all the world was not ready and responsive and could handle it well, all stuttered because they did not expect the great impact. all funds and energy are mobilized so that they can be finished immediately, but not over.

Developed countries alone with this Corona pandemic their economy has been very disturbed. what about developing countries and poor countries is definitely the most impactful. how long the economy of each country can survive if not also can solve this pandemic. certainly needed assistance from developed countries to developing countries and poor, if there will be no new outbreaks of hunger.
 

   It will turn back to normal one day, I think the same, but with some changes. Some people already call it a "a new normal". That
term is not so suitable in my opinion, but I can't deny there's some truth in that. Some new rules and regulations are waiting for us,
and while some are reckless, there are people who respect this rules and trying to keep everyone safe from Coronavirus.
   There're elections all over the world, in my country too. They talk about second wave and new lockdown, I don't know is that
just a FUD or it's real and what to expect, but if it happens this will be a devastating year for the global economy.
   

Probably our economy will turn back to normal,but it might be recover in several years. The damages is too much for us to immediately recover.There are so many things we are accustomed to doing such as buying using internet. I think that kind of business is the appropriate business for us. Due to the pandemic many businesses were bankrupt and closed, and we need to find a way to get up to continue life for our family.We all know that this is not just a trial but a huge blow into our lives and our economy.

It may take a very long time for the economy to recover after COVID-19. Even the US' Chairman of the Federal Reserve Bank said so. With constant money printing, Fiat will continue to be debased. For the economy to get right on track, there needs to be a vaccine or cure available for COVID-19. Only then, people will feel safer in this world. After that, the unemployment rate will decrease as people start taking jobs to boost the economy. The current situation we're facing, looks very similar to "The Great Depression". I hope that people cooperate by following government safety guidelines in order to avoid further spread of the dreaded coronavirus disease. Because if everyone takes this easy and slow, I'm afraid that the world's economy will take decades to fully recover.

In the bright side, the impact of COVID-19 will change our lives for the better. It'll be end of physical cash, transitioning into a fully-digital economy. With social distancing measures, people will often do their jobs remotely. Salaries will be paid in CBDCs, while physical interaction will be a thing of the past. It'll be interesting to know how our economy will truly be in the future once the COVID-19 nightmare ends. I have a feeling that it'll never be the same as it was before. Just my opinion

That is why they are doing things for the better.

Our country is adding some things for them to gain more tax, right now resellers of online shops are being required to get their license. In the past, the government is not actually caring about these resellers but right now, since the lockdown and online shops are a hit, they will be making ways so that they could tax resellers. I am not against it but there will be a problem for some resellers about it.

I think the real crisis will come after COVID-19 The virus has crippled the economy of every country and if no vaccine has been discovered so far it will take a long time to recover. However if the government wants, it can improve the country's economy by investing in crypto Crypto plays a helpful role in improving the country's economy That is why every government in every country now wants to legalize crypto.

The vaccine needs a long time before it can release to the public because to found the vaccine itself is not easy. The vaccine needs to be tested before it is safe to be given to a human, and until that time, the government can use the other way to increase the immune of the infect people. As aside of that, the economy will recover by itself, and people will start to do something and back to make money while the government still help people to cure the virus. The using of paper money needs to reduce, and maybe people will start to use digital money to pay something. Maybe at that time, we will see a new transformation of the economy in many countries.

At least the initial step that must be completed is about the vaccine itself and if this pandemic really ends at least that's when the economy will recover soon and I'm sure about it will recover quickly. Regarding cryptocurrency, I personally believe that at least there will be definite steps for its use whether it is for digital transactions or other matters which will certainly prioritize digitalization to prevent the spread of any viruses that might happen again in the future, who knows and the steps for receiving cryptocurrency are proof or a solution for prevention, because the use of fiat should be reduced so that no more viruses spread.

It going to take some period of time before those economies becomes normal while this pandemic had already changed the orientation of people towards some businesses of course some these businesses might thrive again even in the aftermath of covid-19.
More so its becoming worrisome that a breakthrough in the vaccine had not yielded any positive result while some countries had already opened up their economy while the pandemic is still ravaging thus dealing a blow to many businesses I hope the pandemic should not linger on for years else the world economy will enter a total recession.