Patti and I are hunkered down in Pittsburgh. I assume you are hunkered, too. This is a National Emergency like no other I’ve witnessed in my lifetime. This is only the second National Emergency related to stopping a virus killer, and this killer is a far more efficient killing machine than the prior one – H1N1 in 2009. Patti found this article yesterday. The purpose of this post is to pass this on. I think it is EXCELLENT as to why we should take NO HALF MEASURES. We have to SLOW THIS KILLER DOWN. Be happy to hunker. You may be saving your life and the lives of others.
When I read this yesterday, it jumped out to me that we were twiddling our thumbs. By 6 PM it was clear that governors and mayors had gotten the message. At 8 PM our governor announced all restaurants are closed in our county that encompasses Pittsburgh. Our county executive asked all non-essential businesses to close for 14 days. I had a business appointment this afternoon, and the owner texted me at 10:30 last night to cancel the meeting. Good for her.
These actions are consistent with the idea that we should act as if it will be the worst, and then adjust when you find it isn’t the worst. That’s the exact thinking behind Nest Egg Care.
My concern would be: Are we really acting as if it will be the worst? Are these strong enough actions? Should we be on total lockdown like Italy or Spain? Should all non-essential businesses be required to close now?
== What can we do? ==
We’re going to stay hunkered for at least two weeks.
We will sit out the decline in our portfolio – stocks are down about 8% today. Our economy will suffer – we likely will be in a recession soon if we aren’t in one now. But all nesteggers have the capacity to weather this storm. We all have enough cash and bonds such that we don’t have to sell stocks for many months, even years.
Patti and I texted Cindy who would normally come Friday to clean. We told her not to come, but I mailed her the normal check.
We’re going to eat more take-out than normal, I think. We have plenty to eat here, but I want to support our local restaurants and workers. Folks who have no savings and live paycheck to paycheck will really suffer. I don’t how know will they buy food and pay bills when they have no work. In this National Emergency, how will we put money in their hands?
Conclusion: This is a National Emergency like no other we’ve witnessed in our lifetimes. We all have to pull out all the stops to SLOW DOWN and IDEALLY STOP THIS KILLER. Our economy will suffer. Our portfolios will decline. We nesteggers can ride this out. We are far better off than the folks who have no savings and live paycheck to paycheck. They will really suffer. I haven’t figured out how best to help them.