Updated: Jun 11
I'm back again.
After a 5 month break and a little rebranding I am here again to glue your eyes to my words on this new blog, The Black Gold Economist. I will be writing about the latest economic news and how it links to social and political events.
Life is far from normal. We've had two major lockdowns, unprecedented spikes, and a small step back to economic normality. In the fourth quarter, There was a 1.1% growth and a 9.9% fall over the course of 2020. This fall has been said to be worse since 1709. By the beginning of 2021, we had started to ever so slowly recover with the hospitality, car and hairdressing industries, making up for some lost pennies. But in the first few months of this year, we have seen a slow drop again thanks to continued lockdown. Economists have said that the hit to the economy could last until early spring this year. But the real question is how will this link to the easing of lockdown restrictions. For the last two easing of restrictions, it was soon followed by a huge spike in cases that caused a fall from grace into the hell of self-isolation. And it seems like again, the Prime Minister and the people both want to get people back into public places and contributing to the economy again.
But at what cost? Because of the months we have spent aimlessly at home, people do not want to bat an eye at the possible wolf in the sheep's clothing. The wolf being a fourth national lockdown.
In conclusion, the more we decide to repeat patterns the more the cycle of easing and locking down will repeat. It is not rational to say that this could continue for a long time but we are definitely starting to see the ripple effects. Let's just hope these effects don't see 2022.