Coronavirus = Massive financial crisis up to 63% - MellonPost
October 29, 2020

Coronavirus = Massive financial crisis up to 63%

Coronavirus = Massive financial crisis

Coronavirus = Massive financial crisis up to 63% and savings all gone!

The recent coronavirus pandemic has shocked the world in a way that has never been seen before. Just when we are beginning to see some drop in the number of coronavirus infection rate something else is beginning to loom in the clouds of financial stability.

According to Huffington Post a recent survey released by NPR, the Robert Wood Johnson Foundation and Harvard University’s T.H. Chan School of Public Health. It was discovered that people who suffered from the virus have found themselves in a dire financial straits.

According to the report, those who are the hardest hit are those who are earning less than $100,000 a year, people of colour, the disabled and particularly those who have contracted the virus.

The reported figures are quite alarming as up to 72% of Latinos and about 60% of black households have been seriously affected and also more than half of the native Americans.

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63% of those who have contracted the COVID-19 are facing serious financial crisis, while 46% of those who didn’t contract the virus are also having troubles. For many, their savings are all gone and they are having hard times paying their debts.

A 39-years old home health care worker Desirae Hernandez, who is among those that have been affected, had narrated her story to Huffington post saying, “I probably have enough to pay the mortgage next month, but no food or bills, I’m a wreck to be honest with you. I’ve had breakdowns, throughout this.”

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Even though the government had handed out stimulus cheques to most Americans providing them with $1200, expanding unemployment insurance to include those not traditionally covered and even other payment of $600 a week, it all still didn’t do the magic.

The Stimulus cheque has been spent and people are back to the reality of unemployment and furlough.

Where is the next cheque going to come from?

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