Experienced entrepreneur James Marchese highlights how the press ignoring good economic news
James Marchese has been President & CEO of MortgageNOW Inc. since 2002, serving those in debt trying to save their home as well as helping aspiring homeowners purchase the home of their dreams and enabling current homeowners obtain refinancing loans as and when needed. Like many small business owners throughout the nation, he has paid close attention to the COVID-19 economic shutdown and the devastating effect it has had on the economy. In a recent social media post, James takes the mainstream media to task for focusing too closely on the economic problems still ahead without noting the fact that some areas of the economy are clearly improving in spite of the ongoing lockdowns.
“The headers say that 38 million filed initial claims [for unemployment benefits], but fail to state 13 million are back to work”, James points out. James Marchese doesn’t get into details but careful analysis from pundits and experts shows that he is right to embrace a more optimistic point of view than mainstream outlets are pushing. FED Chairman Jerome Powell recently told 60 Minutes that he does not see the economy entering another depression and affirmed that the United States would not only get to an even better place than it was before the pandemic but that it wouldn’t take that long. “I think there’s a good chance that there’ll be positive growth in the third quarter. And I think it’s a reasonable expectation that there’ll be growth in the second half of the year,” Powell affirmed. Harvard Business Review concurs, noting that policymakers are taking action to come up with solutions to economic challenges arising from the COVID-19 pandemic and ensuring lockdown.
James Marchese isn’t shy about airing his political viewpoints. He is clearly on the side of business owners and those who want unnecessary lockdown restrictions lifted in order to get back to business. At present, the United States economy is sputtering as business owners struggle to either reopen their businesses and attract customers or gain permission to start working again. Some small business owners throughout the nation have been harassed by state governments and shut down even though the SMB owners were taking precautions to keep people safe. while allowing them to access goods and/or services. There is still much to be done for the United States economy to get back to normal; even so, James Marchese is right to point out that there are encouraging economic signs that the country isn’t doing as bad as some think. As Jim Marchese accurately notes, millions have gotten back to work, the people want to get back to work and the rate of new seriously infected has dramatically decreased. James opines; “Once restrictions are eased throughout the nation, we are sure to see an explosion of economic activity.”