Category Archives: Coronavirus and Bankruptcy

Paradox of The Coronavirus and Severe Economic Consequences

By Ryan C. Wood

So far the response to the Coronavirus is a paradox. Look it up. There is no question the reaction is hysteria. The evidence of this hysteria is the hoarding of toilet paper. That is hysteria. Look it up. It is impossible to know what has happened or what will happen regarding the Coronavirus at this point. What I do know is the response will absolutely cause severe financial hardship for those who can least afford it regardless of the severity of the Coronavirus. Seems like if you have just followed common sense about how not to get sick and if you have a normal immune system you will be just fine. But of course why take the risk. Our leaders are at the damned if you do damned if you don’t and being proactive is about all that can be done now. Bankruptcy attorneys like me will sadly see a spike in bankruptcy filings as a result. I really doubt the proposed government relief will actually prevent an increase in bankruptcy filings as a result of the Coronavirus response. I hope is helpful, but history says otherwise.

Is This Response Worth the Severe Economic Consequences?

The point is there are far more deadly and statistically more deadly issues facing all of us each day that existed yesterday, today and will continue to exist tomorrow. I am trying to shed light on the big picture and ask if the severe economic consequences of what is taking place are on balance with the clear economic consequences. The response is arguably unprecedented in recent times but is the Coronavirus really unprecedented?

I will continue to provide updates regarding what I am experiencing as a professional on the frontline of relief for people caught up in the real economic consequences of what takes place in the world.

Reactions Seems To Be Disingenuous Given The Leading Causes of Death

What about the leading causes of death? For example many of the current restrictions are aimed to safeguard the health and well-being of all. At the same time there are countless other perfectly fine things that are very much not to safeguard the health and well-being of all. So the following may seem a little much. Is it not true though?

Heart Disease, the leading cause of death in the United States, kills 636,000 people each year or 53,000 a month or 1,767 people a day. If you add in the second and third leading causes of death in the United States we are talking about approximately 1,428,000 deaths per year or 119,000 deaths per month or 3,967 deaths per day.

Here is what I know. The leading cause of death in the United States is heart disease. Will society no longer serve deadly food and beverages? Are you really committed to safeguard the health and well-being of all? Will there be a ban on all artery clogging foods served at countless arenas THAT HAVE FOR YEARS AND YEARS contributed to the 53,000 deaths per month of United States citizens? That is 1,709 death each day due to heart disease. Or are you going to disingenuously talk about the public health while continuing to contribute and profit from serving food that contributes to the leading cause of death in the United States?

Wow, the Federal Reserve slashed its benchmark interest rate to near zero on today and said it would buy $700 billion in treasury and mortgage-backed securities in an aggressive bid to prevent market disruptions from aggravating what is likely to be a severe slowdown from the coronavirus pandemic. What about the quiet pandemics that have existed already that kill far more people each day?The point is are all of these private and public entities being disingenuous given the leading causes of death? It sure seems so. There is an entire isle at the grocery store dedicated to CHIPS and SODA. Things that make you go hmmmmmmm. There are at least 6 different burger joints, with drive-throughs, in almost each and every city in the United States. Hmmmmmm.

Are establishments that serve alcohol going to breathalyzer each person before they leave to ensure no one drives a little drunk? Or are you going to disingenuously talk about the public health while continuing to contribute and profit from the leading cause of death in the United States? Statistically over the years how many people have been killed as a result of drunk driving after leaving a restaurant or arena?

Are various arenas going to remove hotdogs, nachos and burgers and all other artery clogging foods from the menu at all arenas to help combat the number one cause of death in the United States, heart disease? Or are you going to disingenuously talk about the public health while continuing to contribute and profit from the leading cause of death in the United States?

If The Leading Causes of Death in the United States Are Heart Disease and Cancer Why Are There Not Free Tests and Better Healthcare

Heart disease and cancer kill about 100,000 Americans each month. Cancer has devastated my personal family yet I could not even get my healthcare provider to conduct any type of test or scan to see if I had any cancer or cancer markers or cancer period given I had no symptoms. I have healthcare and was refused preventative precautionary tests. Crazy. Legislation will be passed for free Coronavirus tests though? Billions of dollars will be spent to combat the economic consequences of a hysterical response to a virus that is actually not new and not as deadly and what we face each day? All this will take place without any substantive change regarding the actually leading causes of death in the United States? Are you okay with this?

Are you okay with severe economic consequences and the no doubt increase in bankruptcy filings as a result? These opinions and commentary hopefully will make you think about what is taking place and are those of Ryan C. Wood. Please take every precaution to ensure your continued health and that of the public.

Hype and Hysteria About The Coronavirus Has Already Caused Bankruptcy Filings

By Ryan C. Wood

Update Number 8 – March 29, 2020Preface

Can you hear that? Mother Earth breathed a huge sigh of relief. Mother Earth said to herself: “They are finally taking a break from hurting me. I can recharge and cleanse some of the hundreds of years of damage humankind has inflicted upon me.” In 2020 the world took a pause from normal activity due to the Coronavirus and humankind saw the benefits of truly cleansing their world of their own damaging activity. The world as a result was more clean for benefit of the environment and health of all life on Earth. Surfaces that were supposed to be clean were actually continually cleaned properly. Humans had a greater respect for their shared space. Year 2020 marked a turning point in global total health for the benefit of all living beings.

It is unbelievable how social media and the media in general can influence the world today. Please keep reading for statistics about the leading causes of death and what you should be worried about once the coronavirus passes. But yes, of course the Coronavirus is not good.  At the same time there are concerning real threats to our lives we all should be concerned about just as much if not more.  How is there not a cure for cancer yet?  The flu is not good. According to the CDC 80,000 people in the United States died from the flu last year alone.  Vehicle deaths per day are not good.  Pneumonia is not good.  Heart attacks are not good.  Gun violence in the United States is atrocious.  The fact is the Coronavirus is just new and no worse or scary than what we all face each and every day of our life already.  So why are people changing their normal behavior because of the dreaded Coronavirus? Fear sells and it sells like nothing else. How will the fear now created be used?

I am all for warning about health issues. I have read and heard nothing that provides any of us should be worried. There seems to be an explanation for everything even though the mortality rate being reported is 1% or 2%. If new factual information comes out I will modify this article to say how wrong I was to even question any of this and all of the hype was well-founded. I am confident heart disease, cancer, gun violence and vehicle deaths will be far more likely to continue to be real concerns that need our undivided attention once this passes.

Center for Disease Control: “Both MERS-CoV and SARS-CoV have been known to cause severe illness in people. The complete clinical picture with regard to COVID-19 is not fully understood. Reported illnesses have ranged from mild to severe, including illness resulting in death. While information so far suggests that most COVID-19 illness is mild, out of China suggests serious illness occurs in 16% of cases. Older people and people with certain underlying health conditions like heart disease, lung disease and diabetes, for example, seem to be at greater risk of serious illness.”

OMG, you should always regularly wash your hands.  OMG, people should always just cover their mouth when coughing or sneezing. OMG, yeah give people some personal space when standing in line or in a crowd. OMG, if you have a healthy immune system you should be just fine.  OMG, stop wearing a face mask, hoarding hand sanitizer and toilet paper? OMG, if you are sick do not go to work and infect others. HAVE WE LOST ALL COMMON SENSE? NONE OF THIS IS FUNNY.  IT IS HAVING EXTREMELY HARMFUL CONSEQUENCES ON REAL PEOPLE AND THEIR LIVES. Wil all of the deaths that result from the economic fallout be reported? There will be thousands worldwide. These types of deaths are just lumped together in categories such as stroke, suicide or heart attacks. The underlying cause and contributing factor is economic stress though.

Hype, Hysteria and Information Have Already Caused Bankruptcy Filings

Unfortunately people are changing their daily behavior due to information about the Coronavirus whether accurate or not.  I have bankruptcy clients due to an entire company shutting down due to market changes caused by the Coronavirus hysteria.  The entire staff is being laid off at no fault of their own.  As a bankruptcy attorney I know all too well how circumstances that are not in control of my clients determine outcome good or bad.  It is sad that hysteria and misinformation over a not so deadly virus is and will continue to cause financial hardship outside the control of those who will feel the consequences.  I do not know the specifics about this company but the fact is hype and hysteria regarding the Coronavirus is the direct cause of the business no longer being viable.

What about the leading causes of death?  

How sad given the American Cancer Society reports 50,543 people on average die each month in the United States alone from Cancer.

How sad given the Center for Disease Control reports 5,083 people on average die each month in the United States alone from influenza. 

How sad given the Center for Disease Control estimates 4,167 people die each month in the United States alone from pneumonia.

How sad given the Center for Disease Control estimates 53,917 people die each month in the United States alone from heart disease.

How sad given the Highway Traffic Safety Administration estimates 3,054 people die each month in the United States alone in vehicle accidents.

How sad given the Center for Disease Control estimates 3,000 people die each month in the United States alone due to firearms.

How sad given according to the World Health Organization reports the top ten causes of death for the entire world are:

  1. Ischemic heart disease
  2. Stroke
  3. Lower respiratory infections
  4. Chronic obstructive pulmonary disease
  5. Diarrhoeal diseases; 2,195 children alone die each day, CDC provides that is 32 school buses of children dying each day from diarrhea ……… think about that
  6. Tuberculosis
  7. HIV/Aids
  8. Preterm birth complications
  9. Trachea, bronchus, lung cancers
  10. Road Injury

How sad given according to the Center for Disease Control reports the top ten causes of death for the United States are:

  1. Heart disease: 647,457 a year or 53,955 a month
    1. I read a cruise ship cannot enter a San Francisco port until all of the passengers are tested for the Coronavirus yet the food being served on the ship is far more harmful to society; hello heart disease
    1. Should you be more concerned about a burger joint every four blocks?
    1. Should you be more concerned about your lack of exercise ?
  2. Cancer: 599,108 or 49,926 a month
  3. Accidents (unintentional injuries): 169,936 or 14,161 a month
    • Happenstance of life is how many times more likely to kill you then the Coronavirus?  Wrong place wrong time is more likely to kill you.
  4. Chronic lower respiratory diseases: 160,201 or 13,351 a month
  5. Stroke (cerebrovascular diseases): 146,383 or 12,198 a month
  6. Alzheimer’s disease: 121,404 or 10,117 a month
  7. Diabetes: 83,564 or 6,694 a month
    • You should be more concerned about your consumption of soda
  8. Influenza and pneumonia: 55,672 or 4,639 a month
  9. Nephritis, nephrotic syndrome, and nephrosis: 50,633 a year
  10. Intentional self-harm (suicide): 47,173 a year
    • You should be more concerned about mental health and life in general for society and your fellow human

I just read that San Mateo County, where I live, declared an emergency regarding the Coronavirus.  Why do we not have an emergency declaration regarding the leading causes of death that are known? It seems disingenuous.

The Media and Social Media is Out of Control    

At this point I do not believe there is any going back.  The number of influencers and followers of other humans is here to stay.  When it comes to health and something like the Coronavirus the firestorm created by the media is not helpful and full of misinformation. You can form your own opinion of course.   

Rachel Clamp, PhD Candidate in History, Durham University, reports the Coronavirus has killed total globally about 3,000 people.  https://www.yahoo.com/news/coronavirus-black-death-spread-misinformation-143713853.html h

I highly recommend you read this excellent article about historical plagues and public reaction.  The world today seems to never be able to learn from history.  Nothing is new and if we cannot learn from history we are doomed to repeat horrible wrongs.  Horrible discrimination is taking place.    

Tangent: Hype About Bankruptcy Is Wrong Too

I repeatedly communicate that the Bankruptcy Code is the law.  Do not hate the player but hate the game.  Stop believing the hype and hysteria regarding bankruptcy. it is like suffering an illness and not choosing the a cure that exists. You can suffer for years treating the illness or cure your debt problems.  There is way too much hype regarding bankruptcy. If you do not like people filing for bankruptcy protection to seek relief from their creditors the law provides please vote for different politicians and advocate for a change in our laws.  Do not condemn bankruptcy lawyers or bankruptcy filers for merely following the law to obtain a legal discharge of debts.  Can we not all agree that life is short, nothing is perfect and generally we all are doing the best we can and circumstances outside of our control are far more powerful than any single humans’ choices?  A lifetime of hard work and dedication can be wiped out in a blink of an eye?  Hype and unfound hysteria about a virus can lead to behavioral changes that wipe out entire companies overnight?  We all need second chances given we are all imperfect beings.  Whether you file for bankruptcy protection or fail at something you must keep swinging the bat to try and hit a homerun.  Luckily we have laws that allow an orderly and legal method to clean up the mess so the game can continue.

Update Number 1 – March 11, 2020

I have received additional calls from people seeking bankruptcy due to the fallout over the Coronavirus. I file bankruptcy and earn a living doing so but I truly do not like the reality I will get more business as this saga continues. Also today the NBA announced the suspension of the NBA season until further notice. The Coronavirus is not an unprecedented virus but the suspension of the NBA season is unprecedented. This response is unprecedented. Those who work in sport arenas will not be able to pay their bills. They are not rich and are living paycheck to paycheck. Will government aid reach them or bankruptcy attorneys like me be the solution to their bad luck? I wish the world would take gun violence this serious. I wish people would drive safer each day. Why do people drive like maniacs right after getting through a traffic jam caused by a car accident? Will people exercise more and take their health more serious now?

Update Number 2 – March 15, 2020

So at this point there is no going back. Misinformation about elections/politics, health risks and what is going on in the world generally is here to stay. Regardless of the reality of risk the Coronavirus actually posed or poises the response will be the reality of whatever comes next. Deaths from Coronavirus will not be substantial and all the talking heads will cite the response as the reason and we will never actually know what the true risk poised. Do not mistake my tone for lack of empathy or wanting anyone to get sick. I do not. I have to wonder if everyone realizes that the Coronavirus is not going to go away? Are you always going to live in fear from this one way to get sick even though statistically just driving around and living life kills about 11,000 people each month in the United States alone? Wrong place wrong time; 11,000 people a month in the United States. Please research the leading causes of death in the United States versus the entire World. Diarrhea is the 5th leading cause of death worldwide killing approximately 2,195 children each month alone. By comparison even if the Coronavirus killed 500 people a day worldwide that would be nothing compared to what humans face everyday to stay alive.

The Federal government is passing legislation to deal with the Coronavirus hype and hysteria. Will that economic relief reach my potential clients and prevent increased bankruptcy filings? What about the top three leading causes of death in the United States: Hearth Disease, Cancer and then Accidental Deaths? Kind of seems like gun deaths in the United States is an emergency as compared to other developed countries in the world.

Update Number 3 – March 16, 2020

So the stock market dropped the most since 1987 today. Let us speculate that there are 5,000 worldwide deaths because by the coronavirus so far or 10 days worth of accidental deaths in the United States alone. Or about two and a half days of heart disease deaths in the United States alone. This is very serious. The Coronavirus. The response and the consequences of the response.

I just heard from the world media (this is a parody/joke) that all sporting event centers will no longer serve artery clogging food given they care about the public health and welfare in an effort to help combat the leading cause of death in the United States; heart disease.

I just heard from the world media (this is a parody/joke) that we will all share the world’s fresh water equally so every person on Earth has fresh water to drink from the moment they are born into this world because the world cares about public health and welfare. It is called “No Human Left Behind.” It will help prevent 2,195 daily child deaths due to diarrhea.

Update Number 4 – March 16, 2020

So this is as far from funny as it can get. In the Bay Area we now have a shelter in place order issued for the six county region that makes up the Bay Area. So does that mean that creditors will stop garnishing my clients wages given my clients have seemingly been told to not come to my office to obtain legal relief from their debts? Uh no!!!

Update Number 5 – March 17, 2020

Hopefully the shelter in place REQUEST will save the lives of the 90 people that die in car accidents each day in the United States. That is about 2,700 people each month. You are more likely to die because of the trash driving so close to you that you cannot see their license plate in your rearview mirror. You know, that person that is in such a hurry to get to the next red light so fast. So after the hype and hysteria passes are you going to drive more safe and help prevent the 2,700 deaths EACH MONTH from car accidents? Are you not going eat artery clogging foods and soda that cause heart disease and diabetes? Are will you have learned nothing from this experience?

Update Number 6 – March 22, 2020

Cannot play basketball at my local park given boards have been bolted to the tops of the basketball rims. Can I not shoot baskets by myself and get exercise?

Can let my dog poop on someone’s lawn, pick up poop, but their kids will get the residue poop on them when they go out and play in their yard next.

Can go to 7-Eleven and buy each and every item that leads to the 1st and 2nd leading causes of death in the United States. Cannot sit down in a restaurant and eat. Can hoard clean water while 2,195 children die each day from diarrhea worldwide.

Can still be one of the 1,314 murders that take place in the United States each month. Total worldwide coronavirus deaths 14,200 or 6.5 days of children diarrhea deaths. How can we share fresh water when toilet paper gets hoarded?

Please research the big picture. Who will get the $3 trillion of economic aid even though the GDP will be less in the United States and the United States is already running a budget deficit? National debt as the writing of this is $23.6 trillion or 108.8 % of GDP. What is the world GDP? $80 trillion or so. United States total population 323 million. Those that pay taxes 123 million.

See https://www.usdebtclock.org/

Update Number 7 – March 23, 2020

Can get killed from speeding tailgating drivers with no regard for human life contributing to the 90 people that die in car accidents each day in the United States. Seems the coronavirus scare has not helped people driver safely. Why social distance or take precautions only to drive like a manioc? That is 32,850 people per year die in car accidents in the United States.

Can run over family of eight killing mom for not social distancing contributing to thousands of pedestrians killed each year in the United States. This happened in New York. 17 pedestrians plus cyclists die each day in the United States or 6,205 a year.