Unemployment cliff coming?

[Bullitt]

President Joe Biden on Monday challenged all landlords to hold off on evictions for the next 30 days and said he's asked his administration to consider the possibility of unilaterally extending a moratorium even in the face of legal concerns.

https://www.usatoday.com/story/news...-biden-extend-eviction-moratorium/5454861001/

What's in it for the landlords? And what happens if they don't - an army of social workers will be dispatched to the rental property manager's office?

Psaki said "to date" CDC Director Rochelle Walensky and her team have been unable to find legal authority to extend the moratorium. "Our team is redoubling efforts to identify all available legal authorities to provide necessary protections."

I'm afraid we're just going to keep printing....

 

[Bullitt]

It's really too bad some news agencies decided to create a state of panic last week to generate clicks, likes and retweets. If the schools don't open this year, we're all in trouble. People who are being forced to play the role of "non-union" home teacher can't afford another year of this.

No doubt it will be interesting. I'm sure the "peaceful protests" will make a comeback if the benefits expire.

Until then you have to wonder. Many sectors are struggling, particularly energy despite massive demand in July. Markets must be looking forward to less demand for everything once the stimulus money dries up.

 

[tsptalk]

There’s an unemployment cliff coming. More than 7.5 million may fall off

Federal unemployment programs that have paid jobless benefits since March 2020 are poised to end Sept. 6. It doesn’t appear Congress will extend them again.
Roughly 7.5 million people will lose benefits entirely at that time, per one estimate.

Those eligible to collect state unemployment insurance may continue to receive weekly payments past Labor Day. They would get $300 less per week.

https://www.cnbc.com/2021/08/01/an-...g-more-than-7point5-million-may-fall-off.html