J. Crew Files for Bankruptcy Amidst the Ongoing Pandemic

Monday's bankruptcy filing from J. Crew delivers a stark reminder of the course our economy is headed in. Apart from devastating local populations across the breadth of our nation, the loathsome virus plaguing most of the globe has also had an irrefutable impact on financial trade and the quality of life for all -- including those who remain uninfected.

J. Crew filed Chapter 11 on Monday, as our economy is in dire straits. It's only a matter of time before others follow suit...

 So I suppose it should come as no surprise that other companies will inevitably follow suit. Even before the virus spread across borders, infecting nearly everyone it's come into contact with, the effect of .com business has devastated brick and mortar chain stores. It's hard to compete with companies that skirt the cost of renting thousands of shops, hiring employees, and providing government-mandated benefits. 

Which companies would you most expect to file Chapter 11 next? Forbes has given word that Neiman Marcus and JC Penney are the forerunners, but I find it hard to believe this news would surprise anyone. It's far more surprising that JC Penney has stayed open as long as they have. Who still shops there? 

But multiple governments are beginning to gamble with the lives of their citizens by reopening major cities for business and attempting to reach a level of normalcy which will likely seem foreign in the first stages of reassimilation. If the virus is already contained, then restarting the economy is a no-brainer. Yet... what if it's not? Few countries have even the slightest semblance of control, and their attempt

s to end the quarantine early can only lead to catastrophic failure and increased death. 

While I'd like to believe that the US government is doing everything in its power to fix the current situation, I can't help but view their efforts as too little, too late. Testing needs to be available nationwide, and that's simply not the case. Moreover, in many cities, teenagers have chosen to protest the quarantine by lending fuel to the already raging fire -- marching openly in city streets and defying the hardships those in isolation have endured.

What do you think of the current state of affairs? Are things getting any better where y0u live? Or have they only gotten worse? Don't forget to subscribe to the FB page for regular updates and discussions -- https://www.facebook.com/athoughspot