COVID Economy

[ZiggysFryBoy]

First office duece in 18 months.  🤘🤘🤘

[Skatastrophy]

First office duece in 18 months.  🤘🤘🤘

Road wins aren't always easy. Proud of you, bro!

[pbiflyer]

Why exactly should remote employees be exempt from ANY corporate policy?

Pants.

[rocky_warrior]

Beware the "Delta Delay"

https://finance.yahoo.com/news/massive-china-port-shutdown-raises-210441619.html

[MU Fan in Connecticut]

We book containers and export all the time. As 2022 has gone on, it's gotten harder to make a booking, longer leadtime for delivery and receipt and more expensive.  And after you book a date, it usually gets delayed a few days to a week.

[MU82]

Cutting off jobless benefits early may have hurt state economies

https://www.nytimes.com/2021/08/20/business/economy/unemployment-benefits-economy-states.html?campaign_id=4&emc=edit_dk_20210820&instance_id=38383&nl=dealbook&regi_id=108420427&segment_id=66768&te=1&user_id=d36dcf821462fdd16ec3636710a855fa

When states began cutting off federal unemployment benefits this summer, their governors argued that the move would push people to return to work.

New research suggests that ending the benefits did indeed lead some people to get jobs, but that far more people did not, leaving them — and perhaps also their states' economies — worse off.

A total of 26 states, all but one with Republican governors, have moved to end the expanded unemployment benefits that have been in place since the pandemic began. Many business owners blame the benefits for discouraging people from returning to work, while supporters argue they have provided a lifeline to people who lost jobs in the pandemic.

Cutting off the benefits left unemployed workers worse off on average. The researchers estimate that workers lost an average of $278 a week in benefits because of the change, and gained just $14 a week in earnings (not $14 an hour, as previously reported here). They compensated by cutting spending by $145 a week — a roughly 20 percent reduction — and thus put less money into their local economies.

For those who reject information in the NYT just because it's in the NYT, here's the actual study (for which there also is a link in the second paragraph of the NYT article):

https://files.michaelstepner.com/pandemicUIexpiration-paper.pdf

From the study:

How did the policy affect income and spending? As Figure 5 shows, UI benefits fell by $278/week
by early August. We see a small (but precisely estimated) rise in earnings of $14/week, making up
around 5 percent of the shortfall from benefit decline. The reduced income was accompanied by
a $145/week (20 percent) fall in spending.

As has been stated many times, unemployment benefits are one of the best ways to help local and national economies. The vast majority of those who receive benefits do not stash them away in brokerage accounts. The vast majority spend that money on food, shelter, clothing, wifi capability, items for children such as diapers and formula, etc. Even those who spend on "luxury" items like cellphones, toys for kids, etc, are putting the money back into the economy.

[The Sultan]

I would argue that while jobless benefits certainly have good, short-term economy c benefits, enhanced benefits long-term aren't great. I mean, if you are just going to talk about the spending that resulted, we may as well just have a universal income policy. But that's not a good idea either.

[jesmu84]

I would argue that while jobless benefits certainly have good, short-term economy c benefits, enhanced benefits long-term aren't great. I mean, if you are just going to talk about the spending that resulted, we may as well just have a universal income policy. But that's not a good idea either.

OT, but I'd like to hear why you don't like the idea of ubi

[The Sultan]

OT, but I'd like to hear why you don't like the idea of ubi

Because anything like that should be targeted like the child tax credits, or post-secondary education grants, etc. The "universal" isn't really needed.

[Hards Alumni]

Because anything like that should be targeted like the child tax credits, or post-secondary education grants, etc. The "universal" isn't really needed.

I think he understands that was the point you were making, he is probably looking for the 'why' you feel that way.

[pacearrow02]

As predicted eviction moratorium extension put in place by CDC not exactly constitutionally up to snuff.

Tough week for Uncle Joe.

[4everwarriors]

Hey?

[Pakuni]

As predicted eviction moratorium extension put in place by CDC not exactly constitutionally up to snuff.

Tough week for Uncle Joe.

1. It was the correct ruling, unfortunately.
2. Being giddy over the fact that hundreds of thousands of your fellow Americans could now lose their homes because you think it's a political victory is kind of gross.

[Jockey]

Hey?

His reaction after reading one of Chico's posts.

[pacearrow02]

1. It was the correct ruling, unfortunately.
2. Being giddy over the fact that hundreds of thousands of your fellow Americans could now lose their homes because you think it's a political victory is kind of gross.

1) Being disappointed that 10s of thousands of everyday Americans who own 1 or 2 rental properties aren't going to go bankrupt/foreclose on their properties is pretty shameful Pakuni.  Not every landlord is Warren Buffet.

2) Get vaccinated, get back to work and hold up your end of the bargain to the rental agreement you signed.  It's a big bad world out there and life isn't always fair.

3) Washington is broken.  This problem didn't show up overnight and Congress has had ample time to hash out a solution.  They're all useless.

[JWags85]

I have a client who currently owns his landlord close to $75K in back rent.  He has plenty of money but is rather smug about the fact that he'd rather invest the money in a hot market and worry about paying it later.

I understood it at the time but the moratorium has gone too long

[MU82]

Local governments need to do a better job of distributing the money the feds made available to them to help both renters and landlords.

There are tens of billions of dollars still available.

[ATL MU Warrior]

I have a client who currently owns his landlord close to $75K in back rent.  He has plenty of money but is rather smug about the fact that he'd rather invest the money in a hot market and worry about paying it later.

I understood it at the time but the moratorium has gone too long

Sorry, but your client is a complete sh!t and is everything that is wrong with people in this country

[JWags85]

Sorry, but your client is a complete sh!t and is everything that is wrong with people in this country

FWIW, I was saying I understood the moratorium when it began. 

And I have no love for the dude, he's an a**. Kind of dude that needs to be pestered and prodded to pay every invoice that is always overdue despite wearing a $50K Rolex

[ATL MU Warrior]

FWIW, I was saying I understood the moratorium when it began. 

And I have no love for the dude, he's an a**. Kind of dude that needs to be pestered and prodded to pay every invoice that is always overdue despite wearing a $50K Rolex

Yeah I didn't read your comment correctly. He is definitely an a**.

[reinko]

I have a client who currently owns his landlord close to $75K in back rent.  He has plenty of money but is rather smug about the fact that he'd rather invest the money in a hot market and worry about paying it later.

I understood it at the time but the moratorium has gone too long

Seems like the kind of client who I would be weary of doing business with.

[MU82]

Economy is bullish for Florida funeral homes.

https://www.orlandosentinel.com/coronavirus/os-ne-florida-funeral-homes-overwhelmed-with-bodies-covid-19-surge-20210825-3dxrevbjvzffddfpdx6odpqcmm-story.html

[tower912]

Seems like the kind of client who I would be weary of doing business with.

Weary or wary?

[Pakuni]

A bunch of states cut off unemployment benefits deciding, as some here have, the cause of labor shortages was too many lazy people feeding off the government trough instead of going to work.
It appears they were wrong.

In all, 26 states have cut off some or all of the pandemic-era unemployment aid before the federal expiration to combat rising concerns over labor shortages. But the early terminations have not had their intended effect.
There is a "zero correlation" between state-level employment growth in July and the timing of the early cancellation of the benefits, according to an analysis by JPMorgan. Similarly, there's no difference in earnings growth or labor force participation in states that unenrolled from the programs early and those that didn't.

https://www.yahoo.com/money/workers-sue-states-over-misguided-labor-policy-151938928.html

[JWags85]

Weary or wary?

Weary is actually spot on, typo or not.  As for wary, probably, but unfortunately, in my industry, if I was wary of working with everyone that most businesses/industries would have big red flags with...I wouldn't have many customers