Before you say thanks, please consider this

Thanksgiving is a national holiday devoted to gratitude for all we have. For many, 2020 will go down as the worst year ever due to loss of a loved one, friend, or a job, a career or business. For some it has been devastating. For others, 2020 is just an inconvenient truth.

Regardless of how you have been impacted, I encourage you to take a moment over the holiday to appreciate the severity of the pandemic and consider how fortunate you are to survive it. If you have been keeping up with all the news on COVID, read no further.

HAPPY THANKSGIVING!

If not, I offer a quick snapshot of the past 9 months and a few perspectives to consider. It goes without saying 2020 has been a year we will never forget. Plagued by what feels like a never-ending global pandemic, America has suffered over 250,000 deaths to date from the 11 million confirmed cases of COVID-19 so far. Last March there were all kinds of predictions. Look at these numbers below as of today.

Pandemic by the numbers.

It goes without saying 2020 has been a year we will never forget. Plagued by what feels like a never-ending global pandemic, America has suffered over 250,000 deaths to date from the 11 million confirmed cases of COVID-19 so far. Last March there were all kinds of predictions. Look at the numbers as of today.

While it is true that Covid-19 is not the only cause of death in many cases, a comparison with the American Wars (below) shows how devastating it has been and continues to be. Some predict the total death toll could exceed 600,000 in the US alone.

The deaths by region chart below shows how it’s moved from east to west in the past 5 months.

US Economy By The Numbers

Despite the three trillion economic PPP stimulus packages, a recent report predicts the Pandemic will cost the US over 16 trillion. And of course, this is a prediction based on having a cure soon- which we are all praying for.

If you don’t have a calculator that goes up to 16 trillion, let me put that number into perspective. The GDP (Gross Domestic Product) sum of all transactions in the US is 20 trillion on a good year. So, taking a 16 trillion dollar hit is huge!

Published in the Journal of the American Medical Association, was co-authored by former Treasury Secretary Lawrence Summers and Harvard University economist David Cutler. Summers was also a top economic adviser to Presidents Barack Obama and Bill Clinton and is a former president of Harvard.

Below are links to two of the sources for this months Changing Tides
Journal of the American Medical Association - $16 Trillion
Brookings Institute on the Pandemic Economy

I welcome your thoughts on this. Positive or negative. Please feel free to reach me anytime at byoung@youngcompany.com or 949-376-8404.

Client Spotlight: Palma Financial

Palma Financial was founded in San Jose, California by Miguel Palma, CPA/PFS, in 1998 and is currently in headquartered in Dublin, California. Palma and his staff work to exceed the expectations of their clients by looking after their financial wellness. Palma Financial devotes much of their practice to serving senior citizens, families, real estate professionals, dentists, independent business owners, and real estate investors alike.

Team Member Spotlight: Bart Young

November is the birth month of our amazing boss! Most of you already know him, but incase you don't, Bart began his career in advertising at the age of seven. Purchasing Speer, Young & Hollander from his father in 1983 he added over ten Fortune 500 clients to his roster and became nationally recognized for his creative advertising campaigns.

Shortening the name to Young Company in 1994, Bart guided a number of significant clients in attaining category leadership with award-winning advertising and public relations. Through his guidance and leadership Young Company is recognized as one of the top 25 business-to-business marketing agencies in the U.S. Bart loves what he does and we are proud to call him our boss.

Happy Birthday, Bart!