by Mac Slavo
The real crisis of the coronavirus is that it’s going to bankrupt more people than it kills, especially in the United States. Household debt has skyrocketed in the years following the Great Recession, putting many at risk for a financial disaster.
Businesses are shutting doors and closing shop to prevent the spread of the coronavirus. But this in itself is a disaster for many who live paycheck to paycheck, which is almost 80% of Americans. Not to mention household debt in the U.S. reached a record of $14 trillion in February during the coronavirus’ spread around the globe.
COVID-19’s economic danger is exponentially greater than its health risks to the public. If the virus does directly affect your life, it is most likely to be through stopping you from going to work, forcing your employer to make you redundant, or bankrupting your business. According to the Independent, that’s the main concern.