How Far Does The Domino Fall?
When a business fails, how far is that failure felt?
How far does it reach? How many people does it affect?
In the UK a clothing empire has failed, it has gone into administration, and in that became bankrupt.
Some of its assets have been bought up; the names within it and the stock have been purchased. But the main infrastructure, the buildings on the streets are not wanted, are no longer required.
Thousands have lost their jobs at all levels, from the shop assistant to management.
The loss of a job causes an impact a shockwave as that domino falls. If effects not just the person but also their family; they have reduced income, they have reduced spending power, they suffer a loss, both physically and mentally.
This effect travels in all directions, reaches out to many people, and that is just the person who lost the job.
In truth, a business failure affects not just the number who have lost their jobs, but creates a knock-on effect out to the people they were connected to; the cleaner, the electrician, the plumber, the window cleaner, the ‘mail man’, the accountant, the hairdresser, the manicurist, the supermarket, the corner shop, the insurance company, the vehicle sales people, the butcher, the grocer, the holiday industry; will all be affected by one person losing their job.
This is to name but just a few.
How far will this all reach, as this situation gathers pace?
We are seeing a shrinking economy taking shape; a contraction of people’s spending power.
Are we seeing the metaphorical snowball set upon its journey, only stopping when it has reached its conclusion? What will it gather, how big will it be, as it rolls down the mountainside collecting material as it goes?
Are we looking at an economic, once in a lifetime collapse in the making?
Even if they moved all purchasing online, even if they took the system cashless, tens of millions of people will lose their jobs, their livelihoods and their spending power; how far does the domino fall when there is no way of stopping it?
Can they borrow enough, can they convince enough of us to accept a new way of life; without jobs for all, a Universal Basic Income and a life in monotony for millions of people?
This will not be just the UK affected, the whole world is affected by a business failure; transportation, manufacturing; it all notices, it all feels the ill effects.
How many people of the world will wake up, in the not too distant future, ill from the economic impact of the domino effect?