The New Abnormal - Continuing After COVID Crisis
I don’t know about you, but I like new. When I think of the re-opening of our economy, I get very excited; not the anxious kind of excited, but the anticipatory kind of excitement.
There wasn’t anything inherently wrong with pre-COVID life mind you. Perhaps it was a bit too comfortable and we had been lulled into a familiar but complacent rhythm. We were experiencing an amazing economic run, or at least many were. Employment by most definitions was high and the rise of the gig economy was pronounced. Our work - life rhythm was stable. We spent time dwelling on difficult decisions like where to have breakfast, what to have for lunch, or what new place to try for dinner. We spent hours researching which entertainment events were coming in the upcoming weeks and figuring out math homework to make sure the kids were prepared for the day ahead. Life was sweet, and then overnight it wasn’t.
Life as we know it is never going to be the same; we saw the end. There have been few events in history that have yielded such a bold statement. Many people have live their lives and never experience the trauma we have collectively experienced the past few months. We have heard about the Great Depression, but few living today experienced it. Future generations will read about the pandemic of 2020 and how the world shut down, and we will become case studies and blog material for the research of crisis management in the wake of massive disruption.
We will have to manage the consequences of haphazard cash injections and chaotic governmental interventions. With so little time to develop a strategic plan, and how ill-equipped governments were to execute programs, we have to live with the future impact, knowing posterity was given little consideration. Economists and business gurus admonish deficit spending, and like magic, there seemed to be no limit to the trillions of dollars the federal government can print and infuse in the economy.
As the curtain closes on the old normal, the new abnormal begins its ascent to the global stage. In the dawning we see how the forces of capitalism and free enterprise respond with innovative solutions to the needs of the new society. America has an amazing history of coming together and adapting to a new day. There will be better, faster, and cheaper products and services and, rapid expansion with new jobs. As much “new” as one can imagine - unimaginable new. The world our grandchildren will see will evolve and be filled with wonder and amazement on steroids.
The Great Depression lasted ten years and we are experiencing high anxiety after 90 days. We likely have some time to exercise patience and good sense while we wait for the new abnormal to show signs of life. My hope and prayer is that you are excited, as I am, about the new abnormal and you will prosper, live well, and love well.
Larry Felts has over 40 years of professional service and has learned that his greatest satisfaction is derived from being part of the successes of family, friends and colleagues and clients. This has fostered a focus on building relationships, not just a book of business.
Being part of a firm where the focus is on the clients' success, is a true blessing. For those that seek a firm and a seasoned professionals to help you achieve your visions, The KF Group is ready to serve.