Posts Tagged ‘Pandemic’

Preparing Your Finances for a Bird Flu Pandemic

June 7th, 2021

If you have been paying attention to the news lately you may of heard of the threat of bird flu and a world pandemic. What would this mean and how would it affect your financial holdings. The World Bank, which has estimated that a bird flu pandemic lasting a year could, cost the global economy up to $800 billion dollars. The economic toll on the world economy will be catastrophic. That is a forecast no investor wants to hear. Even a “mild” pandemic could wreck havoc with your investments.

During a flu pandemic millions of people would be unable to work due to illness and taking care of sick family members. Schools and businesses would be closed, transportation reduced or halted. Ill truck drivers, rail and warehouse workers would bring interstate commerce to a grinding halt. How many air traffic controllers could be out sick before flights were cancelled? International travel would all but be eliminated. Businesses hardest hit would include retail, trade, education, travel and tourism, public entertainment and anywhere large groups of people would gather such as sporting events and concerts. Import and exports markets would be devastated.

With millions out of work and unable to pay their bills including rent and mortgage payments, financial institutions facing mounting defaults would have no choice but to suspend debt owed until the pandemic was over. Other financial institutions would face similar threats of collapse until business returned to normal. But, how long would that take? Thousands of businesses may never be able to recover resulting in the loss of millions of jobs. Large and small businesses alike may loose key employees who would be difficult to replace. Moving forward businesses would face labor shortages due to the millions who died, making a return to full productivity difficult.

The global economy could take years to recover. Individual business recovery could be painfully slow. Government spending to aid recovery would go through the roof, yet they would be receiving less in tax revenue from businesses that closed and individuals out of work. The stock value of the largest businesses could collapse devaluing millions of investor’s portfolios. Investors may dump their stock holdings in favor of cash and hard assets like gold and silver. Housing prices could plunge as millions of homeowners go into default. Financial panic could wreck the markets in short order.

Many essential items could be in short supply due to loss of production capacity. Gas and oil deliveries could take months to return to normal production. Consumer spending would be down further delaying economic recovery.

Global instability would be the rule rather than the exception. 3rd world countries devastated by the pandemic could face new internal struggles for power as whole armies could be wiped out by the flu. International trade relations we once had may no longer be there.

A world pandemic would set the dominoes in motion. One event would trigger another; one financial collapse would bring on the next one. The results would be nothing short of catastrophic.

As an investor your first course of action is to stay informed. A bird flu pandemic may not happen for years, but health experts say it will happen, it is just a matter of time. But then there is always natural disasters and terrorism to worry about. The more you know about a possible bird flu pandemic the better position you will be in to adjust your portfolio accordingly when the time comes if not sooner.

Diverting a portion of your assets into stocking up on essential food and supplies may be a prudent move, since a pandemic may keep you housebound for months at a time. No well-diversified portfolio will help you out when the grocery stores are closed and you are waiting in line for a government hand out.

Does RCFE Continuing Education Include Pandemic Protocols?

February 7th, 2021

Due to the CoronaVirus pandemic crisis, the State of California’s requirements for continuing education will change in a couple of ways.

First, there will soon be additional information in the on-going education material explaining new procedures and protocols for dealing with the elderly you care for during a pandemic crisis.

Second, there will be temporary rules for complying with the continuing education requirements, as currently, some of the RCFE Continuing Education requires classroom time, and yet the same California State Authorities requiring this are now locking down society to prevent large gatherings and mandating social distancing.

What Additional Knowledge Will I Learn In My RCFE Continuing Education?

Okay so, what sort of knowledge and information will you be required to learn and know to complete your RCFE ongoing education requirements? Well, some are fairly simple such a how to prevent contamination from your PPEs when you move from room to room? The protocols for handwashing, and sanitizing, and for room cleaning. This is standard stuff you most likely already know and are already doing – yet, these new protocols will take it a step further.

You will probably also learn how and where to get tests for yourself so you don’t bring the virus into the facility. You will learn about new rules for visiting family members, and what the rules are for lockdown too.

What Changes Are Happening for RCFE Ongoing Education Recertification?

The State of California has postponed most professional licenses for 60-days and this may increase, we don’t know yet. However, this is no reason to rest on your laurels. You should, sign up for and pay for your ongoing education in advance and be working on your online classes simultaneously during these 60-days if you are coming close to the time to fulfill your every 24-month requirement. Why this Spertinent advice you ask?

It’s simple, once the postponement is over, and the CoronVirus pandemic crisis slows down, everyone that needs to renew their certification, and all those coming due will want to get those required classroom classes all at once. In the event the State of California decides (for the next year) it’s okay if 100% of the RCFE continuing education requirements are done online, you’ll already have your first half done, and you will have already signed up and paid.

Further, after this crisis is over, and it will be over at some point, there will be greater demand for the RCFE certified, and you know when demand is high, and the supply relative, the price will go up. See that point? Just like viruses are a fact of life, so too are free-market economics.