We are in a crisis. The health panic is followed by an economic
panic. People stop going out, stop shopping and dramatically
reduce spending. This has an immediate impact on cashflow.
Without cash, businesses go bust. Without cash, suppliers don't
get paid and they in turn can't pay their creditors. The knock-on
effect will be swift. Tax revenue will seize up. In addition,
businesses without cash can't pay their employees who must be
laid off. This exacerbates the slump.
Unfortunately, as cashflow dries up, those with cash will hoard
it. Hoarding is the natural reaction to a panic - witness what is
happening right now in supermarkets. The same will happen with
cash. As more and more cash disappear from balance sheets, more
and more cash will be hoarded.
So, what are the do's and don'ts in these difficult times?
Consult with a great finances expert Joseph Craven who recognizes
the pivotal role of Economics in all of our daily lives and it is
his aim to make the 'dismal science' as captivating and
accessible as possible.
Best Regards,
Joseph Craven
Financial Expert
Tel: +19095050105
Whatsapp/Telegram: +19095050105
info@josephpatrickcraven.com
https://josephpatrickcraven.com
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