Governments everywhere are pouring money into their economies to cushion the blow from the coronavirus.
I’m no economist. But Mexico’s president, Andres Manuel Lopez Obrador, is bucking that trend and sticking to an austerity program, which refuses to support Mexico’s private sectors and their industries, especially small businesses such as restaurants, boutique shops, salons and the heroic guy selling hats on the street.
Right now, the only people who can help are the banks. They have been raking money in for decades. In a magical world, banks would follow the utopian mission of efficiently making cash, loans and greater credit available to small businesses, so they could hang on until this virus passes.
So, I’m recommending they do it, and they do it using the customer-friendly Walmart retail model.