Goantifraud
COVID-19 crisis: long-term consequences
COVID-19 crisis: long-term consequences
02-Jul-2020 15:40

COVID-19 crisis: long-term consequences

goantifraud

The economic crisis brought by the COVID-19 virus can have serious negative consequences not only in the short, but also in the long term. That is, we will be recovering from the pandemic for a long time yet; the long-term consequences will manifest themselves in different areas of our lives. Economists call this phenomenon the “scarring effect”. How to survive in a new reality and protect yourself as much as possible?

According to Gita Gopinath (IMF Chief Economist), the COVID-19 crisis is the worst in history since the Great Depression. In her opinion, the economic decline that awaits us may be comparable to the consequences of the Great Depression, but there is hope that the recession will not be so long. It is important to note that all crises in history were similar: they were primarily associated with the fact that demand was falling, and the state was taking measures to stimulate the economy. Now the situation is the opposite: states had to consciously reduce economic activity so that the virus would not spread. And this situation is unique: it never happened that countries deliberately limit their own economic activity.

Here are a few long-term negative consequences of the COVID-19 crisis that are predicted by experts:

  • Unemployment. Due to the temporary shutdown of the largest economic sectors, a huge number of people were left unemployed (in many countries this number was 20-30% of the total labor force). As a result, there is an increase in unemployment, and in many European countries open unemployment is simply limited by the fact that employers send employees on a leave of absence. And this will last for a long time.
  • Deterioration of human capital. The long-term effect of unemployment is the deterioration of human capital. This means that people without work will lose their professional skills, they will have difficulty finding a job in the future, they will face a reduction in their earnings, and their mental health may deteriorate (after all, there is a proven relationship between unemployment and human well-being).
  • Decrease in specific human capital. This means that when their job is lost, people are economically harmed because many people are productive in a particular workplace, and when applying for an alternative job, they may be less successful and useful, and earn less. For example, in Germany, the USA, and Portugal, after mandatory retirement and change of job, most of the people’s income decreases by 30-50% (during the year when the dismissal takes place).

What can be concluded from the above? That after the end of quarantine we will continue to "rake" the consequences of the pandemic for a long time, many people will face the problem of employment, earn less or not be able to find a job.

Is there a way to protect yourself at such a time? We believe that the best way is to start your own profitable business now, which will bring money at any time, even in times of crisis. An ideal example of such a business is the VoIP GSM termination. You can buy a ready-made business solution for the minimum amount, which will immediately begin to make a profit. This does not require specific knowledge and special skills. If you are interested, leave an application, and we will tell you everything in detail.

Start UP Light - $1300
If you purchase the START UP LIGHT package, you can get equipment at wholesale prices. Read more...
Start UP - $1900
If you purchase the START UP package, you can get equipment at wholesale prices. Read more...
DeLuxe - $5600
By purchasing the DELUXE package, you get equipment at wholesale prices. Read more...
DeLuxe Plus - $6700
By purchasing the DELUXE package, you get equipment at wholesale prices. Read more...
Ultimate - $10500
You are welcome to buy the ULTIMA package and get your equipment at wholesale prices. Read more...
corporate

Get free business advice

Get Consultation

Related Articles

GoAntiFraud

How to start a remote business from scratch

17 Jul 2020 06:36
After the beginning of quarantine, remote professions have become especially relevant, which allows earning money without visiting the office. Also, more and more people are thinking about opening their own online business that can generate income even in times of crisis and in case of quarantine. W...
GoAntiFraud

"Survivors": how people make money in a crisis

03 Aug 2020 10:58
The crisis caused by the COVID-19 pandemic has "gone" through everyone - both employees and business owners. But while some have given up or decided to wait through difficult times, others have found a new way to make money and, conversely, have accelerated. We have prepared for you several examples...
GoAntiFraud

Business opportunities after the COVID-19 pandemic

04 Jun 2020 13:58
During the coronavirus pandemic, businesses all around the world faced difficulties. The revenue of many enterprises decreased by 70-80%, debts increased, which entailed a reduction in staff and wages. Some enterprises had to close. How much will the business situation improve after quarantine? Def...
GoAntiFraud

3 main conclusions about the coronavirus crisis

07 Aug 2020 08:59
The crisis caused by the COVID-19 pandemic and quarantine measures is very different from all previous crises in history. Therefore, the conclusions that we decided to draw about the coronavirus crisis turned out to be non-standard. Why did we decide to draw these conclusions? Just because now, when...
GoAntiFraud

COVID-19 and GSM termination: 5 reasons to start the business now

21 May 2020 13:59
You think that now is not the time to start any business? Afraid of losing your money during the quarantine and crisis caused by the pandemic? Think it's worth to wait for better times? In fact, you can’t imagine a better time to start a GSM termination business! We will tell you why. 5 reasons to ...
GoAntiFraud

Start of a remote business in GSM termination: 5 steps

27 Jul 2020 10:09
Your own remote business in our realities is an opportunity not to depend either on the crisis, or on the employer, or on quarantine restrictions. The ideal option is GSM termination business. It does not require clients’ visits – all business processes take place remotely, online. At the same time,...
GoAntiFraud

COVID-19 and business: life goes on

19 Jun 2020 06:22
Now that we are accustomed to quarantine realities, it is difficult for us to imagine that the world will be the same again. But in reality, life is already beginning to return to its former rut: we go for a walk in the parks, visit beauty salons, meet friends, someone returns to work in the office....

GoAntiFraud

GoAntiFraud
GoAntiFraud
GoAntiFraud
GoAntiFraud
GoAntiFraud
GoAntiFraud
GoAntiFraud
GoAntiFraud
GoAntiFraud
GoAntiFraud GoAntiFraud GoAntiFraud GoAntiFraud GoAntiFraud GoAntiFraud GoAntiFraud GoAntiFraud GoAntiFraud