Money and Computing
Pew Trusts, Stateline: Poverty Grows Despite Economic Recovery; Left Behind
Even as average personal incomes rose during the pandemic largely because of government aid, millions of people who didn’t receive such help have fallen into poverty, struggling to pay for food and other basic expenses. That group, trying to get by with the help of local charities, may have been excluded from the federal payments because of immigration status, lack of time in the labor force needed to claim unemployment benefits, or just red tape in states that have been slow to pay jobless claims. And lawmakers in some states such as New York are proposing measures that would create relief funds for workers shut out of jobless payments. Houston-area food banks are employing some out-of-work restaurant employees to help with food distribution, regardless of immigration status, through a relief initiative called Get Shift Done. more »
Economic Research, Federal Reserve Bank of St. Louis: Shift in Confidence and Fear Could Prevent Consumers From Rebounding to Their Investment and Spending Habits
"The negative economic effects of the pandemic come from two sources: capital obsolescence and belief scarring. The pandemic and lockdowns forced consumers to work and consume differently, which can generate persistent changes in tastes and habits for years to come. Capital obsolescence reflects this long-lasting change in the economic value of installed capital. For example, in the post-pandemic world there might be more online shopping instead of in-store purchases. Hence, some installed capital, for example, commercial real estate such as shopping malls, could become obsolete." more »
Ferida Wolff's Backyard: Focusing on Nature is a Way to Step Out of Daily Worries, Be Lifted by Its Beauty or Delightfully Surprised by An Unusual Encounter
Ferida Wolff writes: What used to be in the background of our busy lives has come to be more prominent in our awareness as we become more locally aware. Focusing on nature is a way to step out of our daily worries and be lifted by its beauty or be delightfully surprised by an unusual encounter. I think of it as a gift that opens me up to a wider perspective. It made me also think of people who have passed away, especially now when so many have died from the corona virus. They may be virtually gone but they, too, have left roots in our society. Some of those roots can still be seen, biologically visible in relatives. But it is the impact they have made through their work and interactions in society that are the hidden roots, the connections that affect all of us. more »
Trump Administration Again Slashes Endangered Species Act Protections to Benefit Polluters Economic interests to Outweigh Science in Habitat Decisions
"The U.S. Fish and Wildlife Service (FWS) finalized a rule change that alters the process for designating critical habitat under the Endangered Species Act. This will weaken the ability to designate critical habitat for at-risk species and prioritize economics over science. The rule gives increased weight in decision making to developers to prioritize oil and gas development and other industries over safeguarding and restoring habitat for endangered species." more »