The Leap of 2020

Woodman, spare that tree! Touch not a single bough. In youth it sheltered me, And I'll protect it now.............George Pope Morris (1802-64)

Spare 2020; It may have started tough but in the end it would speak good tidings. From little Wuhan came the Covid19 Pandemic that has ravage over 1 million homes, destroyed businesses and transformed our working/social life to a new zoom normal of social distancing. From Trump White House comes the alternative truth protocols revolving staff turnover and the evangelical/republican delusional bias that establishes John Updike 1932 observation; "America is a vast conspiracy to make you happy" perhaps unhappy. From Lekki Toll Gate comes a generation of youth protesting for a just cause, hugging the national flag, singing the national anthem then at twilight murdered by the national army.

Facts on Recession

Financial Theories:

Financial Crisis Theory: Some recessions are associated with financial crises, such as the global financial crisis of 2007-2008. These crises can occur due to factors like excessive risk-taking, speculative bubbles, or the collapse of a major financial institution. Financial recessions often lead to a severe credit crunch, impacting the broader economy.

Psychological Theories:

Consumer and Business Confidence: Sentiment and confidence in the economy can play a significant role in triggering or exacerbating recessions. A sudden loss of confidence by consumers or businesses can lead to reduced spending and investment, contributing to a recession.

External Shocks:

Oil Shocks: Recessions can be triggered by external shocks, such as a sudden increase in oil prices. Oil shocks can lead to higher production costs, lower consumer spending power, and reduced economic activity.

It's important to note that recessions are complex events often influenced by a combination of factors. The specific causes and dynamics of a recession can vary from one episode to another. Economists and policymakers continually study and analyze these theories to better understand the factors that contribute to recessions and develop strategies to mitigate their impact. Additionally, the global economy is interconnected, from Trump to Wuhan, 

Recessions in one country can have ripple effects across borders, making the study of recessions a global concern.

In 2020: One could say, the land has been so devasted, another could weep; so much death. Perhaps, at the end we could find solace in a vaccine, a reformed white house and a regenerated youth.

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