The following report from one our portfolio manager partners talks about where we’ve been through the year in regards to how the pandemic affected the economies of the world, not to mention the tragic effect on the populous, as well as the economic responses from the various governments. Needless to say, significant stimulus has been injected into the economies and we’re starting to see the effects of this as the economies recover and grow. This is good news, as is the rapid development of vaccines, although we’re currently living though the fits and starts of a reactive roll out. We’re on the right trend, I for one am absolutely looking forward to later this summer as I expect that we’ll be once again able to get together in person.
The world has endured (and is continuing to endure) a period that will be studied for years to come across academic disciplines; and like any historically significant era before it, there are many key dates that will be long remembered.
The one date, however, that arguably stands out as a dividing line between the “normal” world pre- and post-COVID-19 is March 11, 2020 — one year ago today.
It was on this day, just after noon Eastern Time (EST), the WHO officially declared the coronavirus a global pandemic, as hopes of containing the spread of the virus faded and the focus shifted to trying to mitigate the outbreak so as to not overwhelm healthcare systems and create an increased proportion of worst-case outcomes.
That evening, it became not just evident that the situation was serious, but that things were quickly spiralling out of control and a new era was quickly being established.
At 9:00 p.m. EST, the President of the United States addressed the country from the Oval Office and proclaimed a ban on all travel from Europe (but not the UK, though it was added on March 15).
Read the complete report here: One year later_GCA Fischer Financial 2021
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