These are extraordinary times. While the economy has come to a screeching halt to fight the Covid-19 pandemic, President Trump must plan a robust strategic response on the dual fronts of this unprecedented crisis to protect the American brand. The American people need to hear a mid-range recovery game-plan that delineate viable guidelines to reopen the economy as safely as possible if there is any hope to stabilize the U.S. market for the remainder of the year. Will the $2 trillion stimulus relief package enough?
Welcome back to the JMS blog, Dear Readers! Thanks for all your emails voicing concerns and asking for our advice. As a crisis management firm in Philadelphia, the JMS team is all too familiar with the panic you all feel. Thankfully, as seen on the home page, JMS is in the business of designing recovery plans as robust as possible that avoid organizational and fiscal paralysis. Consequently, the JMS team will continue its special edition Facing The Coronavirus series to discuss the best public policies to implement now so that the U.S. economy does not go under forever due to this dangerous pandemic.
Last week, this blog discussed the importance of investing in the American brand. The coronavirus pandemic has highlighted just how vulnerable the American people are since the U.S. economy seems to be operating at the behest of Chinese medical and manufacturing supply chains. This week, this blog is diving deeper into what consideration should be at the forefront of our national policy agenda to get the economy back on track by the summer.
The $2 trillion stimulus relief package is, in fact, restitution to the American people since more and more state and local governments have been ordering businesses to cease operating during this period of national emergency.
This package, however, is not enough to jumpstart our economy. It’s a band-aid to remedy past but not future loss of economic activity on the national scale. What President Trump needs to do is to take the best-calculated risk that will save the highest number of lives. But remember Dear Readers, this is a two-front war that requires a dual policy strategy covering both public health and economic interests.
On the public health front, social distancing has been boasted as the solution to slow the progression of the contamination rate at first. Yet, very quickly, the policy moved to issue “shelter in place” and “stay-at-home” orders in many states. And this week, local governments issued cease-and-desist orders to businesses such as JoAnn Fabrics or Michaels deemed “non-essential” even though they are providing valuable assistance to many sectors of our economy in this great time of need. Indeed, while the simple act of living appears to be on life support, these businesses are invigorating all of us by delivering supplies to 1) make masks for our courageous healthcare warriors on the frontline of this pandemic, 2) for parents who must design educational programs for their children, 3) for small crafting micro businesses whose owners are continuing to create incredible videos on YouTube that are helping millions of viewers manage their anxiety, 4) for many Americans to avoid succumbing to depression and safeguard their mental health. Who knows what the next few weeks will bring to us!
What does that mean for all of us, Dear Readers, on the economic front? For public policies to be effective in times of crisis, it must be as reactive as possible and adapt as new data comes in with as little delay as possible. That’s how President Trump gets out us back on the road to prosperity. That’s how he protects the American Brand.
But what happens when public health concerns clash with economic priorities?
The only way to have a successful roll-out of public policies with seemingly divergent objectives is to gain a thorough understanding of the demands of each sector. To that end, President Trump is right to have extensive discussions with public health and economic experts at the same time to address the ever-changing targets of the national agenda. He has no other choice but to explore a contingency plan to restart the economy now even though the current recommended public health policy still encourages isolation.
Effective immediately, this pandemic has changed our lives forever. But, does it need to threaten our way of living forever as well? How do you expect all levels of government to operate if Americans are not returning to work soon? After all, tax revenue is what keeps the government open. We won’t make it alive if we all stop working. Neither will our government! This blog is not ready to see the American dream go in flames without a fight. Are you, Dear Readers?
For all these reasons, this blog agrees with the signal that comes from the White House: President Trump needs to think about an economic plan now to make sure that our economy does not flatline forever. Not to mention, Dear Readers, how much longer can this national quarantine last realistically? How much longer can you stay home without having a real case of cabin fever? Would you accept the trade-off to wear a mask and gloves for the foreseeable future if it meant returning to work and be able to provide for your family? These are the considerations that President Trump must bear in mind as he plans the next phase of our national response to this monstrosity. But, feel free to let us know what’s on your mind, Dear Readers, by email at jms@branding24seven.com, or by mail at:
JMStrategy LLC
21 S. 11th Street, 2nd Floor, Philadelphia, PA, 19107.
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!
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