Coronaviris Economics/Finance

[groveChuck]

Thought I'd spin this off to look at the financial side- (no politics, please)

Personal/Business/National/Global. Problems, Resources & Solutions.

$ US Congress (the $1200 dollar bill).
TBD, allegedly coming to a mailbox near you soon, stay tuned (it's Congress, so it's politics, but here for informational purposes only, not discussion).
https://www.washingtonpost.com/us-po...-capitol-hill/
(Story includes Rand Paul becoming first US Senator to test positive for Covid-19 "Sunday after working out with fellow lawmakers in the Senate gym only that morning").

$ Florida Small Business 0% 1yr Disaster Loans. I posted this elsewhere- (check your state or equivalent).
I'll be getting one, not sure on the amount (counting months, reading the future, etc).
https://floridadisasterloan.org/application/

$ US Small Business Administration low interest loans:
https://disasterloan.sba.gov/ela/

$ If you have a mortgage, talk to your lender. I got a 90 day extension.
https://www.bankrate.com/banking/cor...cial-hardship/

$ There's also renter assistance, though I'm not sure where.

$ Auto Loans- my wife got a 90 day extension for her car loan.

$ Homeowners Insurance- checking Monday. Doubtful, but if you don't ask...

$ Business Liability Insurance- cancel it? Will discuss with my agent Monday, see if it's onerous restarting it.

$ Auto Insurance- haven't found anything there yet, but it's worth keeping up with.

Be careful, and don't get into worse debt trying to stay out of debt.

I'll post resources as I come across them, hope you will too. Money saving tips, career advice, whatever.
Good luck everybody!

[Run&Gun]

My understanding, the bill didn't not pass earlier this evening. And there are probably very few, IF any of us, unless you are a staffer somewhere, that would qualify. A few of us in our little "group" around here(guys I work with) actually have a client that we work for as W-2 employees, but no one has been "fired", laid off, furloughed, etc. We're not full time. We are just hired as needed. PLUS, most of us make too much money to qualify, anyway. I think I heard some numbers thrown around that were roughly in-line/mirrored the income levels that qualify people for insurance subsidies.

[groveChuck]

"The bill would seek to flood the economy with money in an effort to protect millions of jobs and businesses that now appear to be on the brink. It would direct payments of $1,200 to most American adults and $500 to children. It would steer $350 billion towards small businesses to stem the tide of layoffs, and push billions more towards hospitals and the unemployment insurance system...

...The direct payments to households would appropriate $1,200 per qualifying adult and $500 per child at a cost of around $250 billion. The cash disbursements in the new agreement would phase out for people with incomes of $75,000 and above"

[nutmegger]

About 12 years ago I took Dave Ramsey's Financial Peace University course at a local church. Glad I did. It teaches you how to prepare financially for something like this Coronavirus event.

https://www.daveramsey.com/fpu#in-progress=0

[OldCorpse]

My understanding, the bill didn't not pass earlier this evening. And there are probably very few, IF any of us, unless you are a staffer somewhere, that would qualify. A few of us in our little "group" around here(guys I work with) actually have a client that we work for as W-2 employees, but no one has been "fired", laid off, furloughed, etc. We're not full time. We are just hired as needed. PLUS, most of us make too much money to qualify, anyway. I think I heard some numbers thrown around that were roughly in-line/mirrored the income levels that qualify people for insurance subsidies.

Well, well, well. I wonder how this translates for CA, where the infamous AB-5 law made many formerly freelancers into employees. If indeed the relief only applies to employees, then I guess having tons of people who were re-classified is a huge boon to them. But sadly, this law only applied to CA, so those in CA will be super glad right now, and states that have no such law are out cold. Seems - yet again - CA is ahead of the curve. There was a lot of clothes-rending, crying, wailing, teeth gnashing and severe criticism of CA, but look at it now. I wonder if the author of that law will receive any apologies - that's OK, seems like this will boost her popularity for all time. Anyhow, the whole point of such laws is protection of workers. It's like insurance. One hates paying the premiums, but sure is glad it's there when disaster strikes. I think there's a lesson in all of this somewhere.

But this is a serious question - did AB-5 workers luck out? What about those whose industries or sectors that carved out exemptions - are those folks out of luck?

Given how many Americans work as freelancers, I think it's silly for Congress to not cover freelancers. I hope the bill will be amended to help everyone out.

Since it's not finalized, let's hope they pass something sensible. My best wishes go out to everyone in need. This is a good thread to keep track of it all.

[Run&Gun]

Well, well, well. I wonder how this translates for CA, where the infamous AB-5 law made many formerly freelancers into employees. If indeed the relief only applies to employees, then I guess having tons of people who were re-classified is a huge boon to them. But sadly, this law only applied to CA, so those in CA will be super glad right now, and states that have no such law are out cold. Seems - yet again - CA is ahead of the curve. There was a lot of clothes-rending, crying, wailing, teeth gnashing and severe criticism of CA, but look at it now. I wonder if the author of that law will receive any apologies - that's OK, seems like this will boost her popularity for all time. Anyhow, the whole point of such laws is protection of workers. It's like insurance. One hates paying the premiums, but sure is glad it's there when disaster strikes. I think there's a lesson in all of this somewhere.

But this is a serious question - did AB-5 workers luck out? What about those whose industries or sectors that carved out exemptions - are those folks out of luck?

Given how many Americans work as freelancers, I think it's silly for Congress to not cover freelancers. I hope the bill will be amended to help everyone out.

Since it's not finalized, let's hope they pass something sensible. My best wishes go out to everyone in need. This is a good thread to keep track of it all.

That's presuming that people actually got hired as employees anywhere. That was one of the flies in the ointment. A lot of businesses just parted company with their former freelancers as opposed to taking them on as employees.

[Eric Coughlin]

$500 to children.

Man, if I had been given $500 straight up as a child...the toys I could buy...

[DLD]

Well, gas prices are going down thanks to the tiff between Russia and the Saudi Arabia/OPEC.

To slightly twist Clausewitz, oil wars are politics by other means.

[alaskacameradude]

Well, well, well. I wonder how this translates for CA, where the infamous AB-5 law made many formerly freelancers into employees. If indeed the relief only applies to employees, then I guess having tons of people who were re-classified is a huge boon to them. But sadly, this law only applied to CA, so those in CA will be super glad right now, and states that have no such law are out cold. Seems - yet again - CA is ahead of the curve. There was a lot of clothes-rending, crying, wailing, teeth gnashing and severe criticism of CA, but look at it now. I wonder if the author of that law will receive any apologies - that's OK, seems like this will boost her popularity for all time. Anyhow, the whole point of such laws is protection of workers. It's like insurance. One hates paying the premiums, but sure is glad it's there when disaster strikes. I think there's a lesson in all of this somewhere.

But this is a serious question - did AB-5 workers luck out? What about those whose industries or sectors that carved out exemptions - are those folks out of luck?

Given how many Americans work as freelancers, I think it's silly for Congress to not cover freelancers. I hope the bill will be amended to help everyone out.

Since it's not finalized, let's hope they pass something sensible. My best wishes go out to everyone in need. This is a good thread to keep track of it all.

Sincerely doubt it will work that way. 'On the books' I'm an 'employee' of a certain big broadcast
company based in CA because of AB-5. I only work one to three days a year for them though.
Almost certain I'm not going to qualify for this money despite being 'an employee.' I don't even
live anywhere close to CA and I certainly don't qualify for their health benefits or company
match on retirement. But I get to receive a whole bunch of junk mail informing me all about
those things which I can't have....lol.

[alaskacameradude]

Man, if I had been given $500 straight up as a child...the toys I could buy...

Try Alaska where every man, woman and child who is a state resident is given a yearly PFD check.
The yearly check has ranged from $300 to a little over $3000.