Tag Archives: restaurant industry

The economic cost of shutting down the US economy

Two weeks ago I wrote a post in which I wondered about the risk and reward of bureaucrats shutting down local economies. From my post:

“In America, you are free to pursue the job of your dreams or start your own business. Imagine the government comes in and demands to shut down your employer or business for public safety. You are now forcibly being robbed of your economic freedoms. Does that not make you some form of an economic slave of the government?

You can’t shut down businesses and expect them to re-open with their regular customers. Those customers have now lost their jobs and will not have any disposable income to spend once the economy is back open for business. That “social distancing” will be long gone when unemployment has reached massive levels.”

Now we’re seeing the economic realities of what happens when you are ordered to stay home. As reported last week: “Jaw-Dropping 10 Million Americans File for Unemployment in Two Weeks.”

I don’t know why anyone would claim that is “jaw-dropping.”

You don’t need a master in economics to believe it was to be expected when businesses are ordered closed and people to shelter in place.

Restaurants are going to be particularly hurt – not just now but also in the future as I anticipate “social distancing” mandates will not go away any time soon. Going out with family and friends to socialize over dinner and drinks is currently a thing of the past.

Last night the owners of Logan’s Roadhouse might have realized the realities of their economic future as they announced they would close 261 restaurants and layoff 18,000 people. From their announcement:

“From the day Logan’s Roadhouse was founded, taking care of our guests and employees has been our top priority. Properly balancing the needs of so many through this COVID-19 crisis has been incredibly challenging for us all. After many long days and nights, we’ve made the difficult decision to temporarily close all corporate restaurants as of March 18, 2020 until further notice.”

Read their whole statement here.

As Deplorable Patriot noted yesterday, we did not shut down our country after 9/11, the swine flu outbreak nor after the attack on Pearl Harbor. We were smart enough to know that the result of shutting down our country would be more devastating than the attacker.

My city is ordered shutdown until the end of April. Another three and a half weeks. And we’ve been shut down since March 16.

There’s got to be a better way, bureaucrats. Because the reality is that the coming economic depression is going to come at a great cost to many of the lives you were trying to save.

DCG

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