Although COVID-19 is still running rampant in the West, especially in the United States, I think when the dust is settling, everything will be amazing again. Why am I so positive like this even though we don’t even yet have a mass vaccination for the COVID-19 pandemic? Just let’s say I believe in the effects of human nature, and certain effects of human nature will never change even if the world is going to end tomorrow!
Right now, people are not going to movie theaters, eating out, shopping at luxurious malls, and whatnot, but believe me I think when COVID-19 is over — you can believe that people will do all of that and even more than they have had ever done in their entire life! I think the feelings of being pampered and served are so amazing that people want to feel something like that again! After all, they are being cooped up indoors for so long during the pandemic — once COVID-19 is gone — isn’t it obvious that there will be a revenge of massive consumerism on the service sector?
Currently, malls and other public physical consumerism/service spaces are not being favored by everyone for obvious reasons — DUH! — not getting infected by COVID-19… So, let me tell you why am I being Mr. Obvious(!) — well, let’s say it’s common sense folks! Let me ask you this, do you want to go out and having a fun dinner with your best friends in various delicious restaurants that you used to go out before COVID-19? I would! So, for me being optimistic about how things would return to normal or things would turn out to be even better than how things were before the whole COVID-19 thing is rather Mr. Obvious(!)…
One small problem though! I think my prediction could be a little off from the bulls-eye because of the negative effects of the COVID-19 aftermath. Although we’re not out of the wood yet and I still could imagine that the people — who are losing jobs due to the massive shutdown of various restaurants and other service businesses — may not be able to get back into the same job career that they had enjoyed before the COVID-19 pandemic. Companies that are being badly affected by COVID-19 may not be able to survive even if COVID-19 is going away. Many retail stores may have to file for bankruptcy! Survivable companies may have to employ more robots and automation to recuperate the costs that they lost during the COVID-19 pandemic, thus these companies may hire fewer human employees.
The negative effects of the COVID-19 aftermath could be so huge that it could push down the market prices for unfavorable real estate areas. For example, several real estate areas could see people walk away from their mortgage payments since they could not afford the mortgage payments any longer for not having to be able to find a new job. When the real estate sector turns negative — depending on how bad it could become — it could also affect the businesses in such neighborhoods. Local businesses could see a huge loss in revenues. It’s like a chain of effects or chain of reactions, and the negativities could multiply throughout the economy.
Nonetheless, I feel that the economy is a strange beast because it could contain both the negatives and the positives all at the same time. I could see a scenario of people will go hungry and yet some people go out and spend money like crazy to make up for the time that they were forced to be indoor for so long during the COVID-19 pandemic. Perhaps, we could see the unbalance of the income quality thus we could have huge inequality in income after the COVID-19 is going away. Some people will be able to do more and enjoy their life more during the COVID-19 aftermath, and other people will have to go hungry and become homeless. I just pray that everyone would be able to do better and feel better after this horrendous COVID-19 pandemic — but we all know praying might not be enough. Let’s hope I could be so wrong, and everything will be super-duper after the COVID-19 goes away.