The novel Coronavirus, or COVID-19, has reshaped how the world views preparedness - and revalidated the importance of self reliance, personal responsibility, and preparedness in general. The virus itself is a tragic event, and the world will take months, if not years, to fully recover from its effects. Unfortunately, the worst is yet to come and the death toll will continue to rise, as will governments' attempts to control the spread of the pandemic.
As we write this blog post, the economy steadily marches downward, and that is likely to continue for several months. The actions by the U.S. Federal Reserve and other national level central banks, and specifically the lowering of interest rates to zero and printing of unprecedented amounts of currency, will ultimately result in price inflation that will affect everyone who managed to escape the horrific physical effects of the virus.
Several countries around the world, including the United States, are experiencing mass restrictions in movement, closures of businesses, and broken down supply chains. All of this occurred within weeks - meaning if you were not prepared in advance, you are now struggling to keep your pantry stocked with the basics. Tens of thousands of people will lose their jobs as the movement restrictions slow the public's ability to earn and spend money.
Our own distribution supply chains - including from major companies like 3M and Dupont - have completely broken down as they have surged to meet the massive demand for Personal Protective Equipment (PPE) like N95 respirators, EN14126 certified coveralls, gloves, and face shields. We have never experienced anything like this, ever. However, we continue to serve customers.
At ReadyNation, we coach all of our consulting clients about the importance of short and long term preparedness, which includes financial preparedness as well as more traditional preparedness. Terms like "Bug In" and "Bug Out" come to mind in response to this crisis - though a federally mandated Bug In was something we did not fully anticipate. The Coronavirus event shows us yet again that there may be very little or no warning, and that global-scale events are possible. How prepared are you?
Give us a call at 833-2B-READY (833-227-3239) for a preparedness consultation today.
We continue our retail and ecommerce operations, however are unable to accurately keep inventories updated on our website due to supply chain instability. It's best to email us at email@example.com so we can address your needs directly.
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