Financial problems – R43DSFRS http://r43dsfrs.com/ Sun, 16 Jan 2022 13:54:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://r43dsfrs.com/wp-content/uploads/2021/07/icon-1.png Financial problems – R43DSFRS http://r43dsfrs.com/ 32 32 Montana Nursing Homes Face Financial Crisis Months After Federal Relief Funds Halt | national news https://r43dsfrs.com/montana-nursing-homes-face-financial-crisis-months-after-federal-relief-funds-halt-national-news/ Sun, 16 Jan 2022 13:30:00 +0000 https://r43dsfrs.com/montana-nursing-homes-face-financial-crisis-months-after-federal-relief-funds-halt-national-news/ Costs incurred in battling the COVID-19 pandemic have pushed nursing homes to operate at a loss throughout the country, and Montana is no exception. Nursing homes in particular have struggled with anemic Medicaid rates and a slowly declining resident count. But rising material costs, wage pressures and shrinking government relief funds have left more than […]]]>

Costs incurred in battling the COVID-19 pandemic have pushed nursing homes to operate at a loss throughout the country, and Montana is no exception.

Nursing homes in particular have struggled with anemic Medicaid rates and a slowly declining resident count. But rising material costs, wage pressures and shrinking government relief funds have left more than half of nursing home administrators uncertain whether their facilities will survive in the coming months.

There are 68 certified retirement homes in Montana.

Valley View Home in Glasgow can only last two or three more months without federal support, according to facility administrator Wes Thompson. After that, Thompson said he would consider a voluntary shutdown.

“It’s awful right now,” Thompson said. “We pray for funding wherever we can get it.”

Valley View Home is a 96-bed facility with an average pre-pandemic population of around 70 residents. In 2019, the daily cost of care was $239 per resident per day. Valley View Home, along with other retirement homes across the state, remained afloat. But now nursing homes are facing the worst financial crisis yet, health experts say.

“I’ve never seen them struggle like they do now,” said Rose Hughes, executive director of the Montana Health Care Association. “They’re in crisis mode.”

In 2021, daily care rates jumped to $379 per day at Valley View Home, and Medicaid reimbursement for the year only increased by 65 cents.

Early in the pandemic, federal relief funding helped cover rising costs for personal protective equipment, and Medicaid and CARES Act funds allocated an additional $40 for Medicaid reimbursement to help offset losses. financial due to the decrease in the number of residents.

In March 2020, the daily cost of care jumped to $319 per day for each Valley View Home resident. Without the federal support, most nursing homes would not have survived the early closings when new admissions stopped.

But now, skilled nursing facilities are responsible for all additional PPE, cleaning and other infection control costs. And in May 2021, the CARES Act funding ran out and was replaced by a $15 million lump sum in American Rescue Plan Act (ARPA) funds, which breaks down into an addition of 16, $82 at the Medicaid rate through May 2022 or $40 per additional day through October 2021. Facilities have only had their regular Medicaid rate since then, which averages $211.71 per day .

At Valley View Home, the average cost of care is now $379 per day, which means the facility loses about $167 per resident, per day, in Medicaid funding. By the end of 2021, Valley View Home had lost about $1 million, according to Daryl Toews, who sits on the board.

“Lawmakers thought the pandemic was over and payments should do the same as things got better. Unfortunately things have gotten worse since the end of Parliament, not better,” Hughes said.

The average actual cost per day in 2020 was $250 per day. If costs had increased by 5% per year, the actual cost would have landed at around $275 per day in 2021 and 2022. Instead, costs have increased by 15% to 20%, according to Hughes.

Nearly 70% of all nursing home residents receive Medicaid, which is why low Medicaid rates have such a severe impact on the ability of nursing homes to recruit and retain staff and provide care.

Today, institutions are responsible for the spiraling costs of fighting the pandemic, including the costs associated with ever-changing guidelines on how to handle “outbreaks” of infections.

An outbreak is defined as a positive case of COVID among staff or residents. Some local health jurisdictions in Montana still require facilities to stop admissions in the event of an outbreak.

In epidemic mode, visitors are prohibited from entering the establishment. Although more and more seniors have chosen to age with their families over the years, the fear that a loved one could catch COVID in the collective setting and the fear of being prevented from visiting have stimulated cultural change. towards aging in place.

To add to the excruciatingly low census, many establishments limit the number of residents due to a lack of staff. While shortages aren’t a new challenge for nursing homes, the pandemic has exacerbated the problem.

The evolution of directives has led to a increased need for healthcare workers, but as wages have doubled in the past two years, nursing homes have been unable to afford more staff. And without more staff, facilities cannot accommodate more residents. Without more residents, nursing homes cannot hope to pay more staff.

“There’s no increase in reimbursement that matches increased regulation,” Thompson said. “Every rural non-profit organization (is struggling) to retain staff. So they have to go to contract nurses.

And small, rural facilities will be the first to go, Thompson said. He cares for eight residents who came from out-of-county facilities forced to limit their number of available beds due to staffing issues. Thompson has six traveling nurses to help her despite the few residents.

Gallatin Rest Home, a county-owned skilled nursing facility in Bozeman, closed the rehabilitation portion of the facility due to staffing shortages, according to facility administrator Darcel Vaughn.






Darcel Vaughn, administrator of the Gallatin nursing home, stands at the nurses’ station in an empty wing of the Bozeman facility on Wednesday.




Without rehabilitation services, hospitals have few options for patients who need specialized therapy following a procedure.

The 69-bed facility only supports 31 residents.

To fill staffing gaps, three traveling licensed practical nurses (LPNs) and six traveling certified practical nurses (CNAs) are working at Gallatin Rest Home. Before COVID, Vaughn paid traveling CNAs less than $30 an hour. Now, the average cost of a traveling CNA in Montana is $60 to $150 per hour, according to data provided by Hughes.

Agencies that provide traveling staff to nursing homes in Montana charge for a traveling registered nurse $105 to $250 per hour and for an LPN $75 to $250 per hour. The establishment also pays the workers’ travel, accommodation and meal expenses.

Comparatively, the base salary of an employed RN is $32 to $41 per hour; the salary for an LPN is $24 to $34 per hour and the base salary for a CNA is $16 to $23 per hour.

The salary imbalance has had an impact on morale. Vaughn even had employees leave the facility, returning as expensive travelers.

“We wouldn’t be in business if we weren’t owned by the county,” Vaughn said, adding that last year the facility was short by nearly $1 million, but the loss was covered by county funds.

“It would have been worse without $1 million in federal COVID relief funds,” Vaughn said.

The combination of low Medicaid rates and limited staff makes it difficult to care for residents in need.

“Someone can be turned away because they’re too expensive…it’s hard because it’s a service we should be providing to the community,” Vaughn said. “On calls with other administrators, I can hear the stress in their voices. There is no doubt that facilities across the state are at risk of closing.






Gallatin nursing home

A visitor enters the Gallatin Rest Home on Wednesday in Bozeman.




Even with its diverse model, Immanuel Lutheran Ministries in Kalispell has felt the effects of limited funding and stifling guidelines.

When emergency funding stopped for nursing homes, “they made us the lowest priority,” said Jason Cronk, CEO of the Kalispell facility. “(Nursing home funding) is not something they thought was important.”

Cronk also points out that House Bill 702 is severely hampering the retirement home industry in Montana. The bill prevents employers from requiring healthcare workers to be vaccinated against COVID-19 or the flu.

When COVID transmission is high in a community, nursing homes should routinely test unvaccinated staff. Asymptomatic staff became the reason Cronk was unable to take a new admission for more than two months.

“We’re taking care of the most vulnerable population and we’re not as safe as we were a year ago,” Cronk said.

About 90% of nursing home residents are fully vaccinated, but only 65% ​​of staff are vaccinated according to the AARP Dashboard.

The state and “hero pay”

Hughes pushed the Montana Governor’s office, ARPA’s Economic Transformation Commission, and ARPA’s Health Care Commission to provide assistance in two main areas: funding to provide staff bonuses and oversight. infections.

She asked for funds to provide “hero pay” for direct care staff who worked during the pandemic, signing bonuses and retention bonuses.

A push for infection control was also a focus of discussion. Hughes applied for facility grants to improve ventilation systems, acquire portable systems and take other steps to improve infection control.

“There is no indication that we will receive the help we have requested,” Hughes said. “We need direct subsidies for our workforce to recruit or retain.”

The state Department of Public Health and Human Services is aware of the nursing home argument, but has no plans to provide additional emergency relief, according to DPHHS Director Adam meer.

“There’s a lot more that goes into revenue (than Medicaid funds),” Meier said. “Sometimes what is said is not accurate.”

Meier added that most nursing homes receive a large portion of funds from other sources.

Meier and Barb Smith, senior and long-term care administrator for the state, pointed to government relief funds issued in fiscal year 2020 that temporarily brought nursing homes out of the red. A report that analyzes Medicaid nursing facility rates for fiscal year 2021 will not be available until May.

Smith added that not all nursing homes participate in Medicare, which would add more funding.

Gov. Greg Gianforte has no plans to direct ARPA funds toward nursing home rescues, according to Meier.

“This is an evolving industry…we don’t want to keep kicking the road,” Meier said.

Instead, the state is looking for ways to make long-term care a more sustainable model by identifying ways for the industry to be more profitable.

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Opinion: Despite Ottawa’s claims, we’re heavily indebted to other countries https://r43dsfrs.com/opinion-despite-ottawas-claims-were-heavily-indebted-to-other-countries/ Fri, 14 Jan 2022 18:01:27 +0000 https://r43dsfrs.com/opinion-despite-ottawas-claims-were-heavily-indebted-to-other-countries/ Links to the breadcrumb PF Comment When you look at total debt, Canada is among the worst in the industrialized world Publication date : January 14, 2022 • 4 hours ago • 3 minute read • 6 comments The state of the Government of Canada’s debt load is all the more worrisome as Ottawa continues […]]]>

When you look at total debt, Canada is among the worst in the industrialized world

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By Jason Clemens, Milagros Palacios and Jake Fuss

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The latest federal fiscal update praised the Government of Canada’s low debt load, a recurring theme in Ottawa. According to the update, “Canada continues to have the lowest net debt-to-GDP ratio compared to its international peers.” The Trudeau government repeatedly uses this statistic to justify continued borrowing and the record deficits currently funding historically high government spending levels (which actually pre-date the COVID pandemic). But a broader assessment of the Canadian government’s indebtedness raises serious concerns about our country’s ability to continue financing its spending through borrowing.

The text of the update refers to “international peers”, but the comparison is actually limited to the G7 – Canada, Germany, UK, US, France, Italy and Japan. Among these countries, Canada has the lowest net debt as a proportion of its economy, at 23.4% in 2019. But why limit the analysis to the G7 only? Canada competes with many other industrialized countries. If the analysis is extended to the 31 high-income countries covered by IMF , Canada’s ranking for 2019 drops to 10th. (In fact, the IMF predicts that by 2021, Canada will fall to 11th place).

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The government’s traditional reliance on “net debt” is also a problem. Net debt takes into account financial assets such as foreign currency holdings and gold. It is a measure of how much debt a government would owe in the admittedly hypothetical event that it liquidated its financial assets. It excludes less liquid assets such as buildings and highways.

The use of net debt makes comparisons between Canada and other industrialized countries difficult. Canada’s public pension plans are unusual for the industrialized world. In most countries, public pensions invest in government bonds. the Canada Pension Plan and Quebec Pension Plan , however, invest in assets such as stocks and non-government bonds.

This makes our net debt better than other countries. When other countries’ public pensions invest in government bonds, it has no effect on the government’s net debt. There is both an asset for the public pension plan and a liability for the government. When the net debt of the whole of government is calculated, it cancels out.

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This is not the case when the CPP and QPP invest in non-government assets. While both public plans have increased their assets, the Government of Canada’s net debt position has improved. But this is misleading: the assets of the CPP and the QPP are not in fact available to either the federal government or the provincial government: they are committed to funding the benefits promised to retirees in the two programs.

When we look at total public debt rather than net debt—which essentially takes away CPP and QPP assets—Canada’s relative indebtedness is among the worst in the industrialized world. In 2019, it accounted for 86.8% of GDP, which ranked it 24th out of 31 industrialized countries. Only seven—Belgium, France, Italy, Japan, Portugal, Spain and the United States—had a higher debt-to-GDP ratio than Canada. The IMF expects us to remain 24th in 2021, even though our debt will reach 109.9% of GDP.

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The state of the Government of Canada’s debt is all the more worrying as Ottawa continues to dismiss the debt as a problem. In the recent throne speech , which set out the priorities of the federal government, the words “deficit” and “debt” were not once uttered, even as Ottawa continues to tout our low net debt which, as we have explained, is misleading.

Despite what Ottawa claims, we are very indebted compared to other countries. This poses serious risks to Canadians and to the economy. At the very least, Ottawa must recognize the true state of the Canadian government’s debt.

Jason Clemens, Milagros Palacios and Jake Fuss are economists at the Fraser Institute.

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As money flows through infrastructure, improving wastewater is essential https://r43dsfrs.com/as-money-flows-through-infrastructure-improving-wastewater-is-essential/ Thu, 13 Jan 2022 01:01:43 +0000 https://r43dsfrs.com/as-money-flows-through-infrastructure-improving-wastewater-is-essential/ HAYNEVILLE, Ala. – What’s babbling behind Marilyn Rudolph’s house in the rural countryside isn’t a stream. A stained PVC pipe sticks out of the ground 30 feet behind his modest, well-maintained home, spewing raw sewage every time someone flushes the toilet or runs the washing machine. It’s called a “straight pipe” – a rudimentary, unsanitary, […]]]>

HAYNEVILLE, Ala. – What’s babbling behind Marilyn Rudolph’s house in the rural countryside isn’t a stream.

A stained PVC pipe sticks out of the ground 30 feet behind his modest, well-maintained home, spewing raw sewage every time someone flushes the toilet or runs the washing machine. It’s called a “straight pipe” – a rudimentary, unsanitary, and notorious home sewer system used by thousands of poor people in rural Alabama, most of them black, who don’t cannot afford a basic septic tank that will work in the dense areas of the region. ground.

“I’ve never seen anything like it. It’s a bit like living with an addiction, and I can never, ever get used to it,’ said Ms Rudolph’s boyfriend Lee Thomas, who moved in with her three years ago from Cleveland.

“I’ve lived with this all my life,” said Ms Rudolph, 60.

If there’s one part of the country that stands to see the transformational benefits of the $1 trillion infrastructure bill that President Biden signed into law in November, it’s Alabama’s black belt, named after the soil. loam that once made it a center of cotton production by slaves. It’s a stretch of 17 counties stretching from Georgia to Mississippi where blacks make up three quarters of the population.

About $55 billion of the infrastructure act’s overall funding is dedicated to upgrading systems across the country that treat drinking water, wastewater, and stormwater, including $25 billion to replace existing water systems. failing drinking water in cities like Flint, Michigan, and Jackson, Miss.

Less attention has been paid to the other end of the pipe: $11.7 billion new funds to upgrade municipal sewer and drainage systems, septic systems and consolidated systems for small communities. It’s a torrent of cash that could transform the quality of life and economic prospects of impoverished communities in Alabama, Mississippi, North Carolina, Oklahoma, Illinois, Michigan and many tribal areas.

In this part of Alabama, the center of the civil rights struggle 60 years ago, the funding represents “a once-in-a-lifetime chance to finally get it right, if we can do it,” said Helenor Bell, the former mayor. of Hayneville in Lowndes County, who runs the town’s funeral home.

But while the funding is likely to lead to substantial improvements, there’s no guarantee it will deliver the promised benefits to communities that don’t have the political power or tax base to employ even the few staff needed to fill out applications. federal aid.

“I’m very concerned,” said Catherine Coleman Flowers, a MacArthur Fellow whose 2020 book “Waste” shed light on the sanitation crisis in Lowndes County. “Without federal intervention, we would never have had the right to vote. Without federal intervention, we will never have sanitation equity.

Mark A. Elliott is a professor of engineering at the University of Alabama and works with a university consortium designing a waste management system optimized for the region’s dense clay soil. He said he fears wealthier parts of the state will siphon off federal aid intended for the poor.

“I hope that at least 50% of this money will go to the people who need it most, and not to help subsidize the water bills of wealthy communities,” Mr Elliott said. “Sanitation is a human right, and these people need help.”

Straight pipes are just one element of a more widespread breakdown of outdated septic tanks, inadequate storm sewers, and poorly maintained municipal systems that routinely leave lawns covered in smelly sewage even after a light downpour.

The infrastructure package targets funding toward “disadvantaged” areas like Hayneville and surrounding towns, as part of the Biden administration’s goal to address structural racism. Yet the infrastructure package gives states wide latitude in how to allocate funding, and it contains no new enforcement mechanisms once the money is out.

Funding for wastewater comes through an existing loan program between the federal government and the state that typically requires partial or full repayment, but under the new legislation, local governments with negligible tax bases will not have not to repay what they borrow. As an added incentive, Congress reduced the required state contribution from 20% to 10%.

“A lot of people know that the bill is not just about drinking water, but the wastewater part is just as important,” said Sen. Tammy Duckworth, Democrat of Illinois, who helped draft the bills. provisions after helping two small towns in his state, Cahokia Heights and Cairo, upgrade failing sewage systems that flooded neighborhoods with raw sewage.

The Environmental Protection Agency, which administers the program, said in November that the first tranche of funding for drinking water and sanitation projects, $7.4 billion, would be sent to states in 2022, of which about $137 million dollars for Alabama.

Biden administration officials are confident that the scale of the new spending — which represents a three-fold increase in funding for clean water over the next five years — will be enough to ensure poor communities get their fair share.

“We want to change how the EPA and states work together to ensure overburdened communities have access to these resources,” said Zachary Schafer, an agency official who oversees program implementation.

But major questions remain – including whether individual homeowners without access to municipal systems can dip into the cash to pay for expensive septic systems – and guidance won’t be ready until late 2022.

Although the revolving loan fund is generally considered a successful program, a study last year by the Environmental Policy Innovation Center and the University of Michigan found that many states were less likely to tap into revolving loan funds on behalf of poor communities with larger minority populations.

According to the program’s annual reports, the Alabama Revolving Loan Fund has financed few projects in this part of the state in recent years, with the exception of a major sewer system upgrade in Selma. .

Water funding likely won’t be distributed in Alabama until later this year. The Republican-controlled state legislature is still negotiating with Gov. Kay Ivey, a Republican, over what to do with the tens of millions of dollars allocated under the $1.9 trillion stimulus package that Mr. Biden signed in March.

Every member of the state legislature is up for re-election next year, and lawmakers from the larger and more powerful communities of Birmingham, Huntsville and Mobile, eager to deliver to voters, have already begun preparing their nominations.

The state government has done little to address the problem on its own over the years. In November, the Civil Rights Division of the Department of Justice, citing the Civil Rights Act of 1964, opened an investigation accused that Alabama had discriminated against black residents of Lowndes County by offering them “reduced access to adequate sanitation facilities.”

One of the most significant recent efforts to address the problem came not from an official state initiative, but from the work of a senior state health department official. Sherry Bradley created a demonstration project to install more than 100 modern septic systems in Lowndes after tinkering with $2 million from the US Department of Agriculture and ripping off $400,000 from the state.

Other projects, including improvements in the town of White Hall in Lowndes, have also been ad hoc, disconnected from any larger plan to address the problem systemically.

The infrastructure bill is expected to change that dynamic, Biden administration officials said. Efforts to create a more holistic approach are underway, albeit slowly. Rep. Terri A. Sewell, a Democrat from Alabama who represents a majority-black district, began reaching out to local officials to compile a list of projects to prioritize.

For his part, Mr. Elliott, the professor of engineering, is particularly interested in the hamlet of Yellow Bluff, a scattering of 67 double-wide trailers, cabins and cinderblock houses under the chimneys of a huge Wilcox County paper mill. . Most houses in the hamlet use straight pipes discharging into streams, and Mr Elliott thinks Yellow Bluff could benefit greatly from the installation of a small grouped septic tank.

Despite these harbingers of progress, there is a deep-rooted sense of skepticism, bordering on pessimism, among local residents and activists weary of escorting journalists and academics on what they call “tours of poverty”.

Ms. Flowers, for her part, isn’t sure that anything approved by the state will be performed competently, so she’s pushing officials and other community leaders to demand extended warranties on all wastewater projects and rainwater.

“I think living with this situation has a profound psychological impact on people here,” she said. “It makes them feel left out, ignored, like it’s a failure on their part.”

Ms. Rudolph, who lives just outside Hayneville in the small town of Tyler, was one of the few people willing to talk about their straight pipe system, despite them being ubiquitous.

Walking down the hill, Ms Rudolph said it was important people saw how hard she worked to keep the pipe clean and unobstructed. She also wanted outsiders to understand the bitter hardships of it all.

“We can’t put toilet paper down the toilet like everyone else,” Ms Rudolph said. “We have to put it in the trash.

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Is Dave Ramsey a “bad Christian” for saying that landlords can raise the rent? https://r43dsfrs.com/is-dave-ramsey-a-bad-christian-for-saying-that-landlords-can-raise-the-rent/ Tue, 11 Jan 2022 05:00:00 +0000 https://r43dsfrs.com/is-dave-ramsey-a-bad-christian-for-saying-that-landlords-can-raise-the-rent/ Radio host Dave Ramsey got into a moral quagmire when he said landlords should be able to increase rent based on a property’s market value, not a tenant’s ability to pay. Raising the rent on his rental properties doesn’t make him “a bad Christian,” he said. But taking that stance made Ramsey the villain in […]]]>

Radio host Dave Ramsey got into a moral quagmire when he said landlords should be able to increase rent based on a property’s market value, not a tenant’s ability to pay. Raising the rent on his rental properties doesn’t make him “a bad Christian,” he said.

But taking that stance made Ramsey the villain in what has been called the world’s shortest play – the children’s sketch in which an evil landlord harasses a tenant saying “you have to pay the rent” until a hero steps in.

Ramsey, who said rental properties can be a way to build wealth, was discussing whether it is justifiable for landlords to increase rent even if the change creates hardship for tenants and forces them to move. If tenants can’t pay rent after an increase, the problem is their income, not the landlord, he said.

“I haven’t moved the person out of this house if they can’t afford it anymore. The market did; the economy did it, ”he said.

On social media, the comment landed particularly loud, as it did for a period of soaring gains in house prices, not to mention the ongoing pandemic.

But some have taken Ramsey’s position, with one saying, “Being a Christian doesn’t require you to rent your property at a loss any more than it requires you to rent your work at a loss. “

Ramsey explained his position in the full exchange, which was in response to a question from a homeowner in Washington, DC, and was posted on Youtube January 4.

He said he manages his properties with both “a heart and a head” and takes extreme circumstances into account. “Am I going to kick someone out (who has cancer) in the middle of chemo?” No, I am not, ”he said. Ramsey also said that treating others as we want to be treated is a Biblical mandate, but so is being a good steward of the assets we manage. The Bible does not say that businessmen should “pay less because we are Christians,” he said.

Having said that, it is one thing to price a lease at market price at the start of a lease; it’s another to dramatically increase the cost of a rental when a family has lived there for a while. To say, as Ramsey did, that the tenant should just go find cheaper accommodation seems to coldly disregard the realities of today’s housing market, in which house prices and rental costs are on the rise, driven in part by a slowdown in new home construction and also by a record number of investors buying single family homes with cash. In addition, in some cases, an increase in rent is also accompanied by an obligation for the tenant to pay a higher security deposit.

About 36% of Americans rent, and although their demographics are diverse, racial and ethnic minorities and low-income people are more likely to rent than own a home, according to Pew Research Center. For those who are already struggling, a move can be as financially devastating as a rent increase, given the moving costs, the security deposit, and the shared requirement to pay the first and second rent. last month in advance.

Moving to a cheaper neighborhood can also mean that children have to leave the schools in which they are enrolled. It’s not that simple, or even that doable, as Ramsey puts it.

On the other hand, inflation isn’t just hitting renters these days. Homeowners also have expenses: taxes, insurance, maintenance and repairs. And despite the evil trope, the mustached landlord growling “you have to pay the rent,” Pew reports, “Most rental properties – about seven in ten – are owned by individuals, who typically only own one or two properties.” In short, they also have people knocking on their door for payment.

Still, homeowners who pay more taxes have greatly appreciated the assets right now, while tenants just have higher bills. Some tenants have worse problems than that – the prospect of a winter eviction. The national moratorium on deportations expired in August, but some states, including New York and New Mexico, are still negotiating stays.

All of this means that it is useful to read the play when talking about complicated issues, especially when one is at a comfortable distance from the pain of others.

Despite the Christian standards Ramsey embraces and demands for his employees, Ramsey can be abrasive in his performance. And without any apparent financial problem (he recently sold his Tennessee estate for $ 10.2 million, Realtor.com reported), his words can often sound cruel, such as when he said last year about pandemic stimulus checks, “If $ 600 or $ 1,400 changes your life, you’re pretty much screwed already. . ” Whatever truth was in those words, it was kicked out in the delivery, as was its message on landlords and rent.

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Will consumer price inflation in the United States hit a new 40-year high? https://r43dsfrs.com/will-consumer-price-inflation-in-the-united-states-hit-a-new-40-year-high/ Sun, 09 Jan 2022 09:00:13 +0000 https://r43dsfrs.com/will-consumer-price-inflation-in-the-united-states-hit-a-new-40-year-high/ Will consumer price inflation in the United States hit a new 40-year high? Rising consumer prices in the United States likely hit a new four-decade high in December, ending a year of soaring inflation fueled by supply chain bottlenecks, labor shortages and heavy expenses. Economists polled by FactSet are forecasting a 0.5% month-over-month increase in […]]]>

Will consumer price inflation in the United States hit a new 40-year high?

Rising consumer prices in the United States likely hit a new four-decade high in December, ending a year of soaring inflation fueled by supply chain bottlenecks, labor shortages and heavy expenses.

Economists polled by FactSet are forecasting a 0.5% month-over-month increase in the Consumer Price Index when the Bureau of Labor Statistics releases its report on Wednesday. That would leave CPI inflation up 7.1% year on year, which would represent the largest annual increase since February 1982. In November, consumer prices rose 6.8% on a year-over-year basis. annual and 0.8% compared to the previous month.

Price hikes accelerated through much of 2021, prompting Federal Reserve officials to consider earlier and faster increases in interest rates as the central bank unwinds its economic support. in place at the start of the coronavirus crisis.

The minutes from the last Fed policy meeting noted that supply chain disruptions and labor shortages are expected to last longer than officials initially expected, adding to signs that high consumer prices could be here to stay even if inflation calms down in 2022.

“Inflation appears to be nearing its peak, as the collision of strong demand induced by the federal stimulus fades and supply chain problems ease,” said Brad McMillan, chief executive officer. Commonwealth Financial Network investments. “With weaker demand and higher supply, we should see price changes start to normalize in 2022.”

Analysts at the Wells Fargo Investment Institute recently predicted that annual CPI inflation will average 5.3% this year, alongside two interest rate hikes by the Fed. Matthieu rocco

Did UK monthly GDP growth accelerate before Omicron took hold?

The UK’s economic recovery is expected to gain momentum in November before the spread of the Omicron coronavirus variant hits the country, possibly reaching pre-pandemic levels for the first time since the onset of the crisis.

Bethany Beckett, an economist at Capital Economics and Ellie Henderson, an economist at Investec, both expect the country’s gross domestic product to rise 0.5% between October and November, the date of the data release Friday, marking an acceleration after the virtual stagnation of October.

The supply chain disruptions that dragged down manufacturing output in October “were still plentiful in November, only subsiding a little,” Henderson said. However, she believes “there should have been some rebound in mining and quarrying and utilities,” and output in the construction sector “may have partially recovered from its October drop. “.

With people returning to the workplace and city centers, and Christmas shopping taking place earlier, output in the service sector is also expected to have accelerated to 0.5% growth in November.

If such projections hold true, the UK’s monthly GDP measure could have returned to levels not seen since February 2020.

But momentum looks set to slow temporarily for December, as the Omicron spread has discouraged or halted some areas of economic activity even without legal restrictions in place. With the surge in Covid infections, production may have declined by around 0.8% in December, according to Beckett.

“Not only does demand appear to have been affected by the assembly of Omicron enclosures, but personnel shortages are also disrupting production in some areas,” said Henderson. Valentina romei

What future for gas prices in Europe after the crazy race in December?

Even in a year in which the rebound in the global economy and tight supply led to an unprecedented rise in global gas prices, December stood out.

In the week leading up to Christmas, futures contracts linked to the wholesale gas price in Europe, already at an all-time high, soared to over € 180 per megawatt hour as confidence in Russian supply weakened further.

The strength of the rally was such that ships carrying liquefied natural gas originally destined for Asia changed course midway through. In total, around 7.3 million tonnes of LNG were delivered to Europe in December, according to consultancy Rystad Energy.

Imports, aided by warmer-than-expected weather forecasts, have worked. As of January 4, European prices had stabilized at around € 90 per megawatt hour, although up around 350% compared to the same period last year.

The volatility is unlikely to end anytime soon. Rystad predicts that weak gas flows from Russia to Western Europe will continue as the showdown over Ukraine persists, leading to “still high prices.”

European storage levels, meanwhile, remain low, leaving the continent little wiggle room as it monitors the weather forecast for any sign of colder temperatures.

In Asia, the outlook is less worrisome, with large LNG stocks in place in several countries and current forecasts of temperatures at or above normal in the coming weeks. Tom wilson


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Only state that called on Fed emergency program repays $ 2 billion loan https://r43dsfrs.com/only-state-that-called-on-fed-emergency-program-repays-2-billion-loan/ Wed, 05 Jan 2022 23:20:00 +0000 https://r43dsfrs.com/only-state-that-called-on-fed-emergency-program-repays-2-billion-loan/ List of cookies A cookie is a small piece of data (text file) that a website – when visited by a user – asks your browser to store on your device in order to remember information about you, such as your language preference or your login information. These cookies are set by us and called […]]]>

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A cookie is a small piece of data (text file) that a website – when visited by a user – asks your browser to store on your device in order to remember information about you, such as your language preference or your login information. These cookies are set by us and called first party cookies. We also use third-party cookies – which are cookies from a domain different from the domain of the website you are visiting – for our advertising and marketing efforts. More specifically, we use cookies and other tracking technologies for the following purposes:

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We do not allow you to disable certain cookies, as they are necessary to ensure the proper functioning of our website (such as displaying our cookie banner and remembering your privacy choices) and / or to monitor the performance of the website. site. These cookies are not used in a way that constitutes a “sale” of your data under the CCPA. You can configure your browser to block or alert you to these cookies, but some parts of the site will not work as expected if you do so. You can usually find these settings in the Options or Preferences menu of your browser. Visit www.allaboutcookies.org
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We do not allow you to disable certain cookies, as they are necessary to ensure the proper functioning of our website (such as displaying our cookie banner and remembering your privacy choices) and / or to monitor the performance of the website. site. These cookies are not used in a way that constitutes a “sale” of your data under the CCPA. You can configure your browser to block or alert you to these cookies, but some parts of the site will not work as expected if you do so. You can usually find these settings in the Options or Preferences menu of your browser. Visit www.allaboutcookies.org
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The 10 best teachers in the history of television https://r43dsfrs.com/the-10-best-teachers-in-the-history-of-television/ Tue, 04 Jan 2022 01:40:24 +0000 https://r43dsfrs.com/the-10-best-teachers-in-the-history-of-television/ NBCU Photo Bank / Getty Images Miss Eva Beadle, Little house in the meadow Played by: Charlotte Stewart, 80 Why we love it: A staple in Walnut Grove for the show’s first four seasons, Miss Beadle cared deeply for her pioneering students, often doing all she could to help them when times got tough. When […]]]>




NBCU Photo Bank / Getty Images

Miss Eva Beadle, Little house in the meadow

Played by: Charlotte Stewart, 80

Why we love it: A staple in Walnut Grove for the show’s first four seasons, Miss Beadle cared deeply for her pioneering students, often doing all she could to help them when times got tough. When the Ingalls family face financial problems, for example, they buy Laura (Melissa Gilbert, 57) tablet paper so they don’t fall behind in their work. “Now we’re friends, aren’t we?” She asks Laura. “Well, when you have a problem you should be able to tell a friend, right?” Ahead of her time, Miss Beadle welcomes students from all walks of life – including Solomon Henry (Todd Bridges, 56), the son of former slaves, and a half-Sioux Spotted Eagle (Caesar Ramirez) – to her classroom at open arms.

Lessons taught: How to be good people in a cutthroat environment; how to talk about current controversial events, like the recently ended civil war, even if the class debate is heating up a bit.

Check this out: Little house in the meadow to Amazon prime, Apple tv, peacock


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What fault? With Confetti and Fanfare, Evergrande says he’s ready to build. https://r43dsfrs.com/what-fault-with-confetti-and-fanfare-evergrande-says-hes-ready-to-build/ Sun, 02 Jan 2022 05:39:02 +0000 https://r43dsfrs.com/what-fault-with-confetti-and-fanfare-evergrande-says-hes-ready-to-build/ To mark the completion of a residential complex called World City, indebted real estate giant China Evergrande Group held an elaborate red carpet ceremony on Monday, with eight cannons firing confetti in front of a cheering crowd. The company then released a series of images showing newly completed buildings covered in bright red decorations. A […]]]>

To mark the completion of a residential complex called World City, indebted real estate giant China Evergrande Group held an elaborate red carpet ceremony on Monday, with eight cannons firing confetti in front of a cheering crowd. The company then released a series of images showing newly completed buildings covered in bright red decorations.

A few weeks earlier, Evergrande had been declared in default. The developer has over $ 300 billion in unpaid bills and struggles to repay creditors and business partners. Some in China viewed the company’s celebrations as premature.

For months, Evergrande couldn’t pay its builders, painters and contractors. The company, whose problems have made investors suspicious of China’s once thriving real estate industry, has remained relatively silent as its debt problems sparked panic in global markets and among people across the country who had purchased apartments before their completion.

Construction of over a million homes was stalled, then two weeks ago Evergrande signaled it could no longer continue – officially defaulting after failing to pay the last debt payment to investors foreigners. Now, the developer has pledged to start paying workers again and delivering homes, as part of an initiative to restore confidence in the company and the sector.

“We are going to sprint at full speed,” Xu Jiayin, the billionaire founder of Evergrande, told senior executives on Sunday, according to an official. declaration. He did not provide any details on the source of the money, nor on the non-payment of foreign creditors.

Despite the company’s optimism, the challenges it faces remain enormous. Some homebuyers say they are still in the dark about their unfinished apartments. Former employees and contractors continue to await payment arrears. Dozens of business partner lawsuits that have piled up in court remain unresolved. Property sales across China, meanwhile, have fallen for five straight months.

A few weeks ago, government technocrats stepped in to help run the business. The head of China’s Housing and Urban-Rural Development Ministry said last week that Beijing is committed to “guaranteeing home deliveries, protecting people’s livelihoods and maintaining social stability.” With only a few days remaining in the month, Mr. Xu pledged Sunday to deliver 39,000 apartments by the end of the year.

The company also said it has renewed partnerships with more than 80% of its long-term material suppliers and said it will soon be able to pay off debt and start selling new apartments.

Evergrande’s sudden wave of promises has created more questions than answers for homebuyers, suppliers, contractors and creditors who have yet to hear directly from the company. Some people have started to figure out which of the hundreds of Evergrande real estate projects actually restarted construction.

Li Menghe, chairman of Qingdao Wanhe Construction & Decoration Group, an Evergrande glass supplier, has started using his official Weibo account to post daily details of the hundreds of projects that have picked up steam in recent days. Homebuyers respond to his messages with more questions as they try to determine if their apartments are likely to be completed.

A home buyer asked about intermittent construction progress for one of Evergrande’s residential projects in Shandong Province.

“Brother, there is no money in the supervised account,” replied Mr. Li, referring to the escrow account where Evergrande was supposed to place the money he had received in advance from the sale of the apartments. . He did not explain how he knew it, nor did he respond to a request for comment. But in some online government complaints forums, local officials have told homebuyers that developers’ escrow account money is lacking.

Zhang Yao, yoga teacher who taught at Evergrande Healthy Land, a health and wellness center to park in central Henan Province, said he was asked to resign in September but still owed $ 750. Ms. Zhang, 29, said she was paid by an employment agency but recently confronted an Evergrande manager, who could not give her a date when the company would pay her.

She said the manager told her that Evergrande’s own employees had not been paid since October. A representative for the company did not respond to a request for comment.

In September, Evergrande employees joined concerned homebuyers in protest outside the company’s China offices. Some were later arrested or visited by local police. Up to 80 percent of Evergrande employees have been asked at some point to put money in to help finance the company’s operations.

Mr Cao, an Evergrande home buyer who asked the New York Times to use only his last name for fear of being visited by the police, said he made a down payment on an apartment for $ 160. $ 000 in Jiangxi Province which was nearing completion and was supposed to be delivered in January. He doesn’t expect the apartment to be finished on time as there are only about 20 workers a day on the site, he said.

“I think the contractors still haven’t been fully paid,” he said. “If they had had the money, they should have worked faster for sure.”

Amid the uncertainty, the colorful founder of Evergrande, once known to wear a flashy gold-buckle Hermès belt, has been largely absent from the public. In early September, he posed behind senior leaders signing a “military order” pledging to deliver houses. (Over the next several months, Evergrande would finish less than 10,000 units.) In a memo leaked later in the month, he promised employees that they would “come out of obscurity soon.”

Last week, Evergrande released new photographs of Mr. Xu chairing a meeting in which he called on leaders to continue handing over the homes. And came dozens of photos suddenly completed apartment projects. Homebuyers were pictured happily signing documents that would allow them to finally take possession of their long-awaited apartments.

Some online commentators have expressed disbelief that Evergrande could suddenly go from the brink of collapse to the status quo, or bristled that buyers should celebrate receiving homes they already had. paid.

“Today people are getting so thankful and feel they owe the developer a big favor,” remarked Michael Yu, a popular influencer on Douyin, the Chinese version of TikTok. “What happened to people’s bottom line these days? “

With Evergrande under the leadership of government officials, some homebuyers and investors are likely to feel more optimistic. This week, the company delivered 1,419 apartments in its World City development as part of its drive to complete 39,000 units by the end of the year. But Evergrande is still hooked for around $ 1million more.


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The FTSE 100 rallies 14.3% in 2021, its best year since 2016 – business live | Business https://r43dsfrs.com/the-ftse-100-rallies-14-3-in-2021-its-best-year-since-2016-business-live-business/ Fri, 31 Dec 2021 13:45:56 +0000 https://r43dsfrs.com/the-ftse-100-rallies-14-3-in-2021-its-best-year-since-2016-business-live-business/ The skyline of the City of London as seen from London Bridge this week Photograph: Thomas Krych / SOPA Images / REX / Shutterstock Hello and welcome to our continued coverage of the global economy, financial markets, euro area and business. It is the last trading day of the year, and What it’s been a […]]]>



The skyline of the City of London as seen from London Bridge this week Photograph: Thomas Krych / SOPA Images / REX / Shutterstock

Hello and welcome to our continued coverage of the global economy, financial markets, euro area and business.

It is the last trading day of the year, and What it’s been a year.

It all started with the GameStop drama, when retail investors crammed into memes stocks and battled hedge funds. It has been dominated by the pandemic, with vaccines allowing economies to reopen, … and new variants of Covid-19 resulting in travel restrictions, blockages and supply chain disruptions.

Equity markets rallied while corporate profits held up. Commodities surged, pushing up costs for businesses.

Central banks continued to stimulate their economies throughout the year, lifting markets, before persistent high inflation forced some to change course.




How inflation rose until 2021

How inflation increased until 2021 Photograph: Moneyfarm

The result – Britain’s blue chip FTSE 100 The index gained more than 14% as it recouped its losses at the start of the pandemic, one of its best performances in the past 20 years.

Today is a half day session, so we’ll have the final score at lunchtime.

Frankfurt and Tokyo wrapped things up yesterday, with Germany DAX gaining 16% and Japan Nikkei up 4.9% to its highest year-end level since 1989.

Holger Zschaepitz
(@Schuldensuehner)

#GermanyDax’s Dax index ended the year with a gain of 16%, the best year since 2019 and almost double the long-term average performance of 8.5%. And it has been a very quiet year for Dax investors. The biggest drop in the Dax index was just over 7%. pic.twitter.com/1YeWJPxShi


December 30, 2021

Wall Street experienced a one-year crash, with the S&P 500 the index rose about 27% as tech mega-companies generated gains.

2021 has been a strong year for equity returns, says Richard Lin, CIO at Digital Wealth Manager Moneyfarm.


The second half of the year saw a little more volatility than the first half – largely thanks to the Omicron variant causing uncertainty – but countries like the United States, Europe and Japan experienced strong growth.

But the situation is a little different for emerging markets and the Asia-Pacific region, adds Flax:


EM performed negatively in 2021, with the problems really starting in early summer.

China is the main reason for this slump in performance – the two main issues affecting the group’s largest economy are the resurgence of Covid-19 and disappointing economic growth figures. The Chinese government’s crackdown on big tech companies has also impacted the country’s ability to function economically.

We will follow the action until the last day of the year and we will look to 2022.



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The editorial board: the new president of the ECC has the chance to put the college on a more secure footing | Editorial https://r43dsfrs.com/the-editorial-board-the-new-president-of-the-ecc-has-the-chance-to-put-the-college-on-a-more-secure-footing-editorial/ Wed, 29 Dec 2021 21:00:00 +0000 https://r43dsfrs.com/the-editorial-board-the-new-president-of-the-ecc-has-the-chance-to-put-the-college-on-a-more-secure-footing-editorial/ The City Campus, on the other hand, serves many low-income and minority students. There are other ways to provide a high quality education for students who might otherwise be attending the South Campus. Society has grown accustomed to virtual learning, which works best for older learners. Could this serve students while helping to reduce costs? […]]]>

The City Campus, on the other hand, serves many low-income and minority students. There are other ways to provide a high quality education for students who might otherwise be attending the South Campus. Society has grown accustomed to virtual learning, which works best for older learners. Could this serve students while helping to reduce costs?

Balkin succeeds Dan Hocoy who left after three years at the ECC, assuming the post of president at the Metropolitan Community College in Kansas City. The ECC board refused to offer Hocoy a contract extension. Hocoy was named president of Goddard College in Vermont last summer.

William D. Reuter, vice president of administration and finance at Hudson Valley Community College and former executive and financial director of ECC, deserves thanks for his work taking the helm in July 2020 as the college sought a new president. Reuter was not a candidate for the permanent post.

Balkin, who served as chancellor of Ivy Tech Community College’s South Bend-Elkhart campus in Indiana, seems well qualified not only to lead the college but also to rethink the model here. He has an impressive background, reaching the business field, creating beneficial partnerships.

Getting the ECC back on track was never going to be easy, but the pandemic has made it even more difficult. The work ahead will be marked by controversy, but it is clear that changes are inevitable. The hope is that Balkin’s track record makes him the one to run the college on more stable ground.


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