The federal government has set guidelines to reopen the economy! How will governors apply these guidelines to reopen their economies? What should the Trump administration do to ensure that the U.S. economy rebounds by the end of the year?
Welcome back to the JMS blog! Dear Readers, thank you very much for your continued support! As a consulting firm that advises teams how to manage crises of all sorts with efficiency and expediency, the JMS team is all too familiar with the panic you all feel. Thankfully, this blog can meet your concerns because JMS is in the business of designing recovery plans as robust as possible that avoid organizational and fiscal paralysis. Consequently, the JMS team is continuing its special edition Protecting The American Psyche Wellness series to encourage us all as we fight like hell to stay alive and beat this coronavirus monstrosity.
So far, this blog has been discussing at length the importance of reopening the economy since the end of March. Furthermore, the JMS team went over the intricacies of implementing public health guidelines when they class with economic priorities in the public health edition.
Today, this blog is examining the best overall strategy that would help the U.S. economy roar back to life. Interestingly, the devastation of the coronavirus has also brought clarity. The biggest revelation has been that the U.S. economy is much less robust than we thought and extremely vulnerable to global occurrences.
Indeed, it took this global pandemic to show what President Trump believed all along: past trade deals have been detrimental to the American people!
So, as we prepare to reopen the economy, this blog insists that the White House must have an overall strategic rollout that spans across many industries to ensure a better economic outcome for the American people in the long run.
It is not enough that President Trump intends to temporarily halt immigration to the U.S. in response to the coronavirus pandemic to protect jobs. He needs to create an incentive for companies across all sectors of the economy to hire our “GREAT American citizens”.
Some industries are already on life support. This blog believes to be the case for the service industry, especially when including hospitality and tourism fields as well. Who is taking a cruise any time soon? Hotels, theme parks, and airlines will not recover anytime soon (especially since there are rumors of a second wave of the coronavirus to whack us all in the fall).
Many more such as the retail industry could be on life support as unemployment continues to escalate at an alarming rate. Who is looking to buy a car, furniture, or sporting goods if people are out of work and opening dates for stadiums are not even under consideration at the writing of this publication?
Still, a few such as pharmaceutical and manufacturing industries need a complete overhaul that could fire up our GDP in a spectacular way. Interestingly, these are the industries President Trump could impact the most. Now is the time to double down on his America First Agenda! Indeed, this blog believes that as companies should be a lot more amenable to bringing pharmaceutical and manufacturing operations back to the U.S. as Goldman Sachs did cut Q2 GDP forecast to -34% at the end of March! What time are we living in that most firms forecast such sharp drops that our GDP will contract so much?!!!
The White House is in desperate need of a solid strategy to create new jobs for the American people in the immediate future.
And We, The People in the Land of the Free, should consider buying locally and investing in the American Brand. Dear Readers, this is how we can come together and get ourselves out of the economic disarray brought upon us by the coronavirus global pandemic! This is an urgent matter for President Trump to sort out! Indeed, local governments are bound to make the painful decision to slash their budgets and cut the very social assistance programs that could benefit the many Americans who did observe the “shelter in place” orders that prevented them from providing for their families. At a time when 26 million Americans have filed for unemployment in the last five weeks, these budget cuts will hurt even more!
There you have it, Dear Readers! Thank you for stopping by our blog today. As always, we want to hear from you! Do you think that we got it all wrong? Is this the end of globalization as we’ve known it? Do you think that President Trump’s pro-business agenda for America the key to unlock the economic morass we are currently experiencing? Let us know what you think of Trump’s handling of the pandemic so far. Tell us all about it in the comment section below, by email at jms@branding24seven.com, or by mail at:
JMStrategy LLC
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We salute the first responders, health professionals, national guard service members, and everyone who has been on the frontline of this crisis. We salute essential personnel who have been working hard to deliver food and medicine for us all. Your courage and dedication are appreciated. Thank you for everything that you are doing.
As always, Dear Readers, please stay safe! Also, please take all the precautions you need to protect your families and keep your spirits up. We shall overcome this! We are all in this together!
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