Could the real response to stopping this #pandemic of #COVID-19 be for #economies to just hit pause?
Well let me explain “pause”.
Whenever we watch a movie or make a journey with the need to attend to something else, we hit the pause button or stop for a bit to rest. Education allows for “gap” years and payment holidays at financial institutions are common around the holiday seasons.
The world right now needs to focus on combating the #pandemic and so “day to day” life not directly related to the response to COVID-19 has been suspended. Why then should the financial sector in direct relation to outstanding loans/mortgages and rents be any different and not hit pause?
Photo by cottonbro on Pexels.com
Yes, there are loan payments, rent payments etc etc. that are agreed and due but all of these have a timeline based on an imaginary exchange point – namely the “fiat” currency. Lets not forget that the greatest secondary fear of any individual is #income loss and #payment requests that place even more stress than the #virus itself are dangerous! The #stimulus packages worldwide don’t go far enough and somehow are missing the point of monetary exchange at a time of fear around job loss and bills that may never be met.
Photo by Andrey Matveev on Pexels.com
If a moment of clarity could just hit the world via institutions like the World Bank and the IMF providing guidance to other global and national financial institutions to suspend #interest and #payments such that it “freezes” time in relation to these monies. Once this is over (and it is our optimism that it can be handled) then the pause button can be released.
The conversation continues https://issuu.com/rdjbriefing