The "Re-Opening" the Economy Thread

[China]

Not just a workplace issue, but..

 

Mental health is the next big workplace issue

 

Employees' mental health is quickly becoming a top concern for companies as they try to hold on to workers through the pandemic.

 

Why it matters: The firms that confront mental health are poised to win the war for talent.

 

"These days there are worker shortages everywhere," says Chris Swift, CEO of The Hartford, a financial services and insurance company. Mental health is a massive contributor to that, he says.

 

What's happening: The pandemic has dragged on, and people are dealing with even more loss and isolation — at the same time that America's opioid crisis has gotten worse. Burnout and addiction are seeping into the workplace.

 

Despite the fact that we've gotten used to pandemic-era living, workplace burnout is rising. 44% of workers say they feel fatigued on the job, up from 34% in 2020, per a study conducted by the human resources consulting firm Robert Half.

Drug overdose deaths spiked 30% in 2020 — to nearly 100,000 — and the bulk were opioid overdoses, Bloomberg reports. The deaths and drug addictions are contributing to the overall worker shortage.

It's harming workplaces.

 

A whopping 52% of U.S. employers say they are “experiencing significant workplace issues” with substance misuse or addiction by employees, according to a new survey from The Hartford. That's up from 36% in March 2020.

31% of U.S. employers say workforce mental health is having a severe or significant financial impact on the company, up from just 20% in March 2020.

 

Click on the link for the full article

[TheDoyler23]

23 hours ago, China said:

Suffering landlords are Washington’s new eviction problem

 

Landlords are unsympathetic figures in the eyes of many struggling tenants, but they’re emerging as a new economic problem for Congress and the White House, after Democrats prioritized renters by pushing for the revival of the eviction ban earlier this month. The Biden administration has yet to find a way to accelerate the release of federal rental aid, meaning property owners will continue to be squeezed until the eviction moratorium expires Oct. 3 or is struck down in court.

 

I wonder what the percentage of renters are struggling financially because of layoffs etc.  vs.  the ones who just went "**** it, not paying, they'll have to just evict me whenever this ends." 

 

[BatteredFanSyndrome]

28 minutes ago, TheDoyler23 said:

 

I wonder what the percentage of renters are struggling financially because of layoffs etc.  vs.  the ones who just went "**** it, not paying, they'll have to just evict me whenever this ends." 

 

I don't think there is any real way to determine that, but I can tell you from experiences with co-workers and neighbors that own rental properties, there was a whole lot of 'f it, I'm not paying you because I don't have to' going on.  Not renters simply being behind because they missed a few payments, but people who just immediately stopped paying anything the moment they figured out they couldn't be evicted.

 

[daveakl]

1 hour ago, BatteredFanSyndrome said:

I don't think there is any real way to determine that, but I can tell you from experiences with co-workers and neighbors that own rental properties, there was a whole lot of 'f it, I'm not paying you because I don't have to' going on.  Not renters simply being behind because they missed a few payments, but people who just immediately stopped paying anything the moment they figured out they couldn't be evicted.

 

Property Manager here. There are 100% some people doing that but its not a high %. Some of it is area specific though. Here in my area the rental market is ridiculous. Good luck finding anything.  If you come out of the moratorium owing 8-10 months in rent, get evicted and are searching for a new place, you're looking at having to move 30-40miles away.

[Cooked Crack]

 

 

[gbear]

22 hours ago, daveakl said:

Property Manager here. There are 100% some people doing that but its not a high %. Some of it is area specific though. Here in my area the rental market is ridiculous. Good luck finding anything.  If you come out of the moratorium owing 8-10 months in rent, get evicted and are searching for a new place, you're looking at having to move 30-40miles away.

I have been wondering at the short sightedness of the eviction moratorium.  It is not as if the back rent won't come due.  I think we will see a lot of personal bankruptcies as the end result of the eviction moratorium.  The question is whether those who file also become homeless because the numbers in that bucket could easily swamp our safety nets and pull down the economy once more.  At some point, we will need a way to reset hurting the least number of stakeholders in a survivable way.  I just haven't heard it yet.  Everything seems to kick the can a little further down the road.   

[TheGreatBuzz]

11 minutes ago, gbear said:

I have been wondering at the short sightedness of the eviction moratorium.  It is not as if the back rent won't come due.  I think we will see a lot of personal bankruptcies as the end result of the eviction moratorium.  The question is whether those who file also become homeless because the numbers in that bucket could easily swamp our safety nets and pull down the economy once more.  At some point, we will need a way to reset hurting the least number of stakeholders in a survivable way.  I just haven't heard it yet.  Everything seems to kick the can a little further down the road.   

 

I have a feeling that there is be some program where the government picks up the tab for unpaid rent/mortgage/etc so there isn't a sudden, massive spike in homelessness.  And I'll be pissed off because I actually continued to pay my bills and this will be just one more time where I miss out on free money because I acted responsibly.  

[Cooked Crack]

 

 

[tshile]

19 hours ago, TheGreatBuzz said:

this will be just one more time where I miss out on free money because I acted responsibly.  

Yeah, it’s sort of a recurring theme

 

It’s frustrating because I want to be a good person that cares about the well-being of others and helping in bad times but damn if it’s frustrating that time and time again the responsible get nothing but a bill for others

[BatteredFanSyndrome]

Quote

Our tenants don't have to provide any documentation to us, so they could be working, and we see that they're buying new goods, but they're not paying rent. We're not there yet, but if it becomes clear people are taking advantage of the moratorium, we will have to discuss action with our legal team.

Quoted from the above article...

 

This is the primary issue the people I know are facing.  There were never any measures put in place to where renters have to prove they actually have a hardship that's causing them not to pay rent.  So you've got people that have been working pretty much the entire time simply not paying their rent because they don't have to.  It's incredibly short-sighted, but you can see why people on the lower end of the income scale that scrape rent together each month may opt to just tell their landlord to stick it, because it's the one time in their lives that they can do that and get away with it....for a while at least.

[daveakl]

2 hours ago, BatteredFanSyndrome said:

This is the primary issue the people I know are facing.  There were never any measures put in place to where renters have to prove they actually have a hardship that's causing them not to pay rent.

The people you know need to do a better job of managing their properties. 

Per the CDC guidelines:

• Requires renters to provide their landlord with a signed declaration form to be covered. Renters who previously submitted declaration forms are not required to do so again; and 

• Does not relieve renters from their obligation to pay rent. 

They need to stress to their tenants that the obligation to pay the back rent does not go away and that signing a declaration that they are under a hardship and are unable to pay the rent could be illegal if its not truthful.

 

The vast majority of those not being able to pay their rent are doing it legitimately and have applied/received assistance. 

 

[Larry]

2 hours ago, BatteredFanSyndrome said:

Quoted from the above article...

 

This is the primary issue the people I know are facing.  There were never any measures put in place to where renters have to prove they actually have a hardship that's causing them not to pay rent.  So you've got people that have been working pretty much the entire time simply not paying their rent because they don't have to.  It's incredibly short-sighted, but you can see why people on the lower end of the income scale that scrape rent together each month may opt to just tell their landlord to stick it, because it's the one time in their lives that they can do that and get away with it....for a while at least.

 

Counter argument, though.  

 

What those people are doing with the money, is spending it.  Which is, in turn, helping the economy.  

 

Not saying that this justifies the current plan.  Just pointing out an upside.  (That might not justify the downside.)  

[BatteredFanSyndrome]

45 minutes ago, daveakl said:

The people you know need to do a better job of managing their properties. 

Per the CDC guidelines:

• Requires renters to provide their landlord with a signed declaration form to be covered. Renters who previously submitted declaration forms are not required to do so again; and 

• Does not relieve renters from their obligation to pay rent. 

They need to stress to their tenants that the obligation to pay the back rent does not go away and that signing a declaration that they are under a hardship and are unable to pay the rent could be illegal if its not truthful.

 

The vast majority of those not being able to pay their rent are doing it legitimately and have applied/received assistance. 

 

You make it sound like the declaration is some air-tight legally binding agreement.

 

It’s not, plenty of loopholes.  

 

I see the term "vast majority" used a lot with zero data to support it.  Whether that's liberals saying the "vast majority" are doing the right thing or conservatives saying the "vast majority" are all lazy losers feeding off the government teet.  I'd venture a guess, the truth is probably somewhere in between.

 

 

 

 

 

Edited August 18, 2021 by BatteredFanSyndrome

[BatteredFanSyndrome]

37 minutes ago, Larry said:

 

Counter argument, though.  

 

What those people are doing with the money, is spending it.  Which is, in turn, helping the economy.  

 

Not saying that this justifies the current plan.  Just pointing out an upside.  (That might not justify the downside.)  

I'm not really judging or justifying the actions of people who stopped paying rent.  Similar to the stay unemployed and get regular benefits +$600 to stay home situation, I can understand why folks on the lower end of the wage scale would choose to stay home and not aggressively look for a job that will pay them less than what they make on UE.  I can understand why folks that typically scrounge together money to make rent payments, would exercise this once in a lifetime opportunity to avoid eviction while not paying rent.  Both are short-sighted, but when you live check to check, a lot of decisions are made short-sighted. 

 

I'm just saying that it's a real thing - that yes, people do take advantage of these situations, and there is no true data to support how many are doing it legitimately and how many are taking advantage.  You've got the left who will tell you that the folks taking advantage are the outliers and you've got the right who will tell you that those who really need help are the outliers.   When in reality, nobody really knows.

[daveakl]

33 minutes ago, BatteredFanSyndrome said:

You make it sound like the declaration is some air-tight legally binding agreement.

 

It’s not, plenty of loopholes.  

 

I see the term "vast majority" used a lot with zero data to support it.  Whether that's liberals saying the "vast majority" are doing the right thing or conservatives saying the "vast majority" are all lazy losers feeding off the government teet.  I'd venture a guess, the truth is probably somewhere in between.

 

 

 

 

 

Here is the declaration form they should have their tenants fill out.

 

https://www.cdc.gov/coronavirus/2019-ncov/covid-eviction-declaration.html

 

Vast majority to me: I've got about 250 tenants. I've had 2 not be able to pay. Both qualified for the HOPE program and had 6 months covered.

[BatteredFanSyndrome]

1 minute ago, daveakl said:

Here is the declaration form they should have their tenants fill out.

That's the form I'm talking about, plenty of loopholes around that.  There are so many variables to all this as well, as I'm sure the amount of non-paying tenants varies greatly by rental type.  For example, your higher end rentals most likely are experiencing less issues than the lower end.  My 2-up manager owns a few apartment complexes in the south, not slumlord properties, but definitely lower end.  He's said it's been a real struggle for him, declaration or no declaration.

 

 

[daveakl]

7 minutes ago, BatteredFanSyndrome said:

I'm sure the amount of non-paying tenants varies greatly by rental type.  For example, your higher end rentals most likely are experiencing less issues than the lower end. 

No doubt but the ones that are gaming the system are the ones that would skip a lease early / get evicted / trash the property / cause problems /etc. in normal times.

There are countless rental assistance programs out there, and while it does take a month or two to get the check in, they cover 6 months of rent.

 

I dont believe it to be as bad as some people try to make it out to be but then again a report that says "most people are able to find rental assistance but some people are still being assholes and gaming the system" is way less clickbait.

[skinsmarydu]

3 hours ago, tshile said:

Yeah, it’s sort of a recurring theme

 

It’s frustrating because I want to be a good person that cares about the well-being of others and helping in bad times but damn if it’s frustrating that time and time again the responsible get nothing but a bill for others

I'm depleting my savings. Certain rules in Social Security are keeping me from widow's benefits, I have an attorney working on that.  I still have a very decent amount left, my property is worth about 8 times what I owe, and because I was always taught to live frugally, I'm ok despite my age in my industry.  The house needs work & I've gotten to take some time off after almost killing myself for 35 years.  I really, really enjoyed it.  

But I don't mind helping folks less fortunate.  You get what you give (Tesla reference). 

[China]

On 8/16/2021 at 10:43 AM, China said:

Not just a workplace issue, but..

 

Mental health is the next big workplace issue

 

Employees' mental health is quickly becoming a top concern for companies as they try to hold on to workers through the pandemic.

 

Why it matters: The firms that confront mental health are poised to win the war for talent.

 

"These days there are worker shortages everywhere," says Chris Swift, CEO of The Hartford, a financial services and insurance company. Mental health is a massive contributor to that, he says.

 

What's happening: The pandemic has dragged on, and people are dealing with even more loss and isolation — at the same time that America's opioid crisis has gotten worse. Burnout and addiction are seeping into the workplace.

 

Despite the fact that we've gotten used to pandemic-era living, workplace burnout is rising. 44% of workers say they feel fatigued on the job, up from 34% in 2020, per a study conducted by the human resources consulting firm Robert Half.

Drug overdose deaths spiked 30% in 2020 — to nearly 100,000 — and the bulk were opioid overdoses, Bloomberg reports. The deaths and drug addictions are contributing to the overall worker shortage.

It's harming workplaces.

 

A whopping 52% of U.S. employers say they are “experiencing significant workplace issues” with substance misuse or addiction by employees, according to a new survey from The Hartford. That's up from 36% in March 2020.

31% of U.S. employers say workforce mental health is having a severe or significant financial impact on the company, up from just 20% in March 2020.

 

Click on the link for the full article

 

More Americans Are Reaching Out For Mental Health Support — But Can't Get It

 

For many Americans who, like Parrish, live with a mood disorder, cost remains a major hurdle to accessing mental health care, according to a survey on mood disorders published this week by the National Alliance on Mental Illness, or NAMI.

 

Over half of the survey's respondents (which included people living with mood disorders and their caregivers) said that cost prevents them from trying a treatment they're interested in, says psychiatrist Ken Duckworth, NAMI's chief medical officer.

 

Cost was also the reason for discontinuing treatment for about a quarter of the respondents who were able to get care.

 

Click on the link for the full article

[China]

Is it really the right time to end pandemic unemployment insurance?

 

The dangerous delta variant is spreading. The future of schools is unclear. And millions of workers are about to be kicked off unemployment.

 

Sean thought he’d be back to work by now. Over the summer, the cafe where he worked before the pandemic reached out, saying he could have his old job back by early September. The cafe was located on a tech company’s campus in California, and his former boss wanted to staff up as office employees started coming in. (Sean spoke to Vox on the condition that his identity and that of his employer remain anonymous.)

 

It looked like his return to work would coincide pretty nicely with the wind-down of the unemployment insurance he’d been relying on to get by. “Everything was going fine,” he says — until it wasn’t. In mid-August, the cafe told him they wouldn’t need him back after all. “Due to the delta surge, the campus was completely closed again with no solid date for starting the process again,” he explains. “There’s a chance I get contacted in the fall, but my gut tells me it’s a done deal until next year.”

 

Like many workers relying on unemployment, Sean is hoping Covid-related unemployment benefits will be extended through the end of the year so he can find some time to devise a plan B, especially given that the delta variant is changing so many businesses’ plans. But that scenario is extremely unlikely. On Labor Day, expanded unemployment benefits put in place in response to the pandemic are set to expire, and there’s virtually no political appetite in Washington to extend them.

 

“The Biden administration has not made it a priority, and outside of [Democratic Sen.] Ron Wyden, you haven’t heard too many people in the Senate be willing to push on that,” said Andrew Stettner, a senior fellow at the Century Foundation, a liberal think tank. “It doesn’t seem like right now there would even be 50 votes in the Senate.”

 

That means that the extra $300 per week in federal employment benefits in place since December 2020 will end, as will programs aimed at people who wouldn’t normally qualify for unemployment insurance, such as freelancers, gig workers, and the long-term unemployed, which were put in place in the spring of 2020. Stettner estimates 7.5 million workers will lose all their benefits. Those who still qualify will only get what comes from states.

 

Click on the link for the full article

[China]

You May Have Gotten Shortchanged By $125 On That COVID Rebate For Your Car

 

If you had auto insurance during the pandemic, you may have received a refund from your insurance company.

 

According to two consumer groups, you got shortchanged.

 

The Consumer Federation of America and the Center for Economic Justice estimate that the auto insurance industry pocketed about $30 billion in revenue that should have gone back to policyholders when driving slowed last year.

 

An analysis released by the groups last month found that auto insurance companies raked in $42 billion in "excess premiums" in 2020, but only provided $13 billion in relief to drivers.

 

"In virtually every state, auto insurance premiums – by law – cannot be excessive," said J. Robert Hunter, the Consumer Federation of America's director of insurance. "The inability or unwillingness of almost all state insurance regulators to enforce the law and protect consumers raises serious questions."

 

Click on the link for the full article

[Cooked Crack]

 

 

[Cooked Crack]

 

 

[China]

Mitch McConnell says the GOP will vote for the US to default on its debt

 

As the White House stressed the urgency of raising the debt ceiling to avoid a government default, House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer said on Monday that the House would pass legislation to fund the government that includes a debt-limit suspension through the end of next year.

 

It was a dare to Senate Minority Leader Mitch McConnell, who would need to lend ten Republican votes for it to avert the filibuster and clear the Senate. The Kentucky Republican was unfazed.

 

"We will not support legislation that raises the debt limit," McConnell said after Pelosi and Schumer's announcement. "Democrats do not need our help."

 

Treasury Secretary Janet Yellen told Congress earlier this month that the government's money would likely run out in October because of financial uncertainty caused by the pandemic.

 

Click on the link for the full article

 

 

[Larry]

1 hour ago, Cooked Crack said:

 

 

 

So, is that proof of intent to distribute?  

 

And did they offer the cops any?