October 3, 2024 • 23 mins
Host of “How to Money” on KFI Joel Larsgaard joins the show to discuss the economic impact of the longshoremen strike, responding to work emails is leading to burnout, student loan repayment, and economists disliking both candidate’s economic plans. You have homeowners’ insurance, but is it enough to rebuild you home? Gascon gave teen killer a scond chance.. now she's charged again
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Episode Transcript
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Speaker 1 (00:01):
You're listening to Bill Handle on demand from KFI AM
six forty And this.
Speaker 2 (00:07):
Is KFI AM six forty Bill Handle on a Thursday morning,
October third, the big longshore per person's because its not
longshore men's anymore. So long shore persons strike is going
on on the East Coast and the Gulf, and it
is a mess. And there's a run on toilet paper
for no reason, by the way, none But hey, we
(00:30):
are sheep, as Neil has said earlier, and then we
are awaiting.
Speaker 1 (00:34):
The Israeli retaliation against Iran.
Speaker 2 (00:37):
I have no idea how far, how deep, and when
it's happening, but it's going to happen soon.
Speaker 1 (00:42):
All right. It is time for Joel Larsgard how.
Speaker 2 (00:45):
To Money, and he's on Sunday twelve to two pm
right here on KFI. Good morning, Joel, morning Bill. Okay,
so let's talk about the longshore person strike and how
it is really going to affect is for.
Speaker 1 (01:00):
Real, toilet paper not an issue.
Speaker 2 (01:04):
For those of us, those of us on the West Coast,
not a big issue.
Speaker 1 (01:08):
But it is going to have.
Speaker 2 (01:11):
Even short term problems, much less medium or long term issues.
Speaker 3 (01:16):
Oh yeah, for sure.
Speaker 4 (01:17):
And it's one of those things where you know, inflation's
getting back under control, We're getting used to more normalcy,
and think about gas prices, you know, getting into kind
of normal sphere. And then this conflict happens in the
Middle East, and now this this long short person strike,
which I appreciate the way you so that that this
is going to potentially, depending on how long it lasts,
(01:37):
it could lead to another ramp up in inflation. It
could lead to more It will lead to more supply strain.
It already is leading to more supply strain on certain items.
Think about just bananas starting to rot. I mean, how
long do they actually stay fresh for. They're not going
to stay fresh for all that long coffee sitting there
right on the East coast ports. And so depending on
how long this lasts, like we could see significant packs
(02:00):
down the line. If there's an agreement reached in short order,
I think the impact is going to be minimal. But
if this goes on for a week or longer, we
could be talking about even like job losses in places
that don't seem like they would be impacted right now
by the strike.
Speaker 1 (02:17):
Yeah, one of the things.
Speaker 2 (02:18):
And now we're going to get into not hard money,
but more philosophically and societally.
Speaker 1 (02:24):
Let me get this, okay, I got the mute off.
Speaker 2 (02:28):
Now, is that the long short people are the union
is asking for two things. One wages, which I clearly
understand that's typical with the union, benefits, wages, retirement plans,
medical and how far is it go. The other one,
which I'm having a very hard time with, is automation,
(02:49):
saying into the terminal worker, terminal operators, you have to
stop automation, you cannot use technology or limit technology.
Speaker 1 (03:00):
Is that bode for the future.
Speaker 4 (03:02):
Well, I think you can see why you would ask
for that as a as a long short person working
on the docks, you can you can see why they
would want that. Like, listen, these these new technologies are
threatening to eliminate some of the jobs. We might be
handsomely paid now, but in the future, maybe five six
years down the road, there might be a whole lot
less of us, and we might not have as much
(03:23):
bargaining power, and so trying to stave off this technological
revolution which impacts businesses all across the country and all
across the world. I get why you would ask for that,
but the problem is, like you can't stop technology you're talking.
Speaker 1 (03:38):
About exactly you're trying to. Can you imagine, oh yeah.
Speaker 3 (03:42):
You were talking about chat GPT just a few minutes ago.
Speaker 4 (03:44):
That's one of those things where it's there is no
stopping these these language models from being built. And so
even if we create rules inside of the United States
of America to slow things down, well they're gonna have
China is going to develop.
Speaker 3 (03:58):
Things like that. You can't you can leash put a
leash on technology.
Speaker 4 (04:01):
And so again I understand the ask, but it's a
terrible idea, and it's one of those things where I
think that's going to be the sticking point, and I'm
curious to see how that gets resolved in I.
Speaker 2 (04:11):
Don't know how the terminals, you know, negotiations on pay.
I can see that they've already offered fifty percent over
six years, the long shore union one seventy seven percent.
Speaker 1 (04:20):
I can't get all that.
Speaker 2 (04:22):
But to try to stop technology, as you just pointed out,
I mean, can you imagine the United Auto Workers saying
no robots and the manufacturing process none, that's everything has
to now be done by hand. No.
Speaker 1 (04:38):
It just it's crazy.
Speaker 2 (04:40):
That's and that's what frightens me about this by the way,
that issue. Okay, let me do we didn't take an
early break? Sure, Kno, let's take an early break here,
And did you say no, I've never had you know what.
Speaker 1 (05:01):
We've reached the point now.
Speaker 2 (05:02):
Where this thing is getting too loose and easy. Okay,
if you would like to be here tomorrow. That was
the last time you ever did that? All right, Okay, Joel,
We're gonna take an early break. If that's okay with you.
Speaker 3 (05:18):
I'm fine with u.
Speaker 1 (05:19):
See Cono, did you hear that?
Speaker 3 (05:21):
I heard it.
Speaker 1 (05:21):
I'm fine with that sheep.
Speaker 3 (05:23):
He's a sheep.
Speaker 2 (05:24):
Okay, we'll be right back, and Joel Larsgard with us.
Joel has heard every Sunday twelve pm to two pm.
He's host of How to Money, which is I think
what we cleverly call this segment.
Speaker 1 (05:35):
Someone went out of their way to try to figure
this one.
Speaker 3 (05:37):
Out, Joel. That's right.
Speaker 1 (05:40):
Yeah.
Speaker 3 (05:40):
A marketing team.
Speaker 2 (05:42):
Yeah, look, Joe, our marketing team goes all out. All right, Beck,
we go to I think we've done the long shortman strike,
the long short person strike and what it's going to do,
and it's just a question of time, as you pointed out,
if it ends the next couple of days, We're okay
if it keeps on going. The scary part is the
head of the union, and this is fifty thousand members strong,
(06:02):
said it outright. We are prepared to go for months,
and we are prepared to let the world collapse.
Speaker 1 (06:10):
Literally, that's a quote. Thank you.
Speaker 3 (06:12):
That's frightening.
Speaker 1 (06:13):
That's right, it certainly is, and they could probably do it. Okay.
Speaker 2 (06:16):
Now, student loans, we talked about that a whole lot
of times over the last several years. There was a
payment pause, right, There was a moratorium that started at
pandemic time and it's lasted.
Speaker 1 (06:30):
What four years now.
Speaker 2 (06:32):
Basically, let's talk about that, because you know, this is
not forgiveness, which is and everybody's can for a lot
of people are conflating this.
Speaker 4 (06:42):
Yeah, I want to come back to forgiveness, by the way,
but yes, the payment pause was something like three plus years,
and then there has been over the last year essentially
this grace period for people who weren't ready to make
their student loan payment.
Speaker 3 (06:55):
So interest has been accruing.
Speaker 4 (06:56):
But if you were unable or you just said you
were unable to make your student loan payment, you didn't
have to because what was going to happen. Was no
consequences at least to your credit, your credit report, your
credit score, And so a lot of people have not
been paying their student loans over the last year, even
though student loan payments kind of are back online with
that payment pause being over. But yeah, now at this point,
(07:19):
as of October first, essentially if you don't pay your
student loan, not only are you accruing interest, but now
you can start being reported to the credit bureaus and
that can damage your score. So everybody out there with
student loans needs to know that.
Speaker 2 (07:34):
Hey, Joel, when you talk about interest accruing, does that
from the day one that the moratorium kicked in or
does it start now that you're liable for payments.
Speaker 4 (07:45):
No, it's been a crazy So there was no interest
accruing during the payment pause, that three plus year payment pause,
but once that pause was over and it was just
kind of that amnesty period the one year, that is
when the interest started accruing again. And so if you
haven't been paying your student loan payment for the last year,
like you didn't have to, y're't going to at least
(08:06):
see the consequences on the credit score, but you are
seeing a larger balance.
Speaker 2 (08:10):
Okay, And so does that just extend the period of
time that you have to pay off the loan inclusive
of that interest, or does that kick up your payments
now because you owe that much more money because of
the interest That makes.
Speaker 4 (08:25):
Ansor are going to be determined on different There are
different ways of determining that payment based on what payment
plan you're on, and so much if it comes down
to your income. But yeah, it's for a lot of people,
it's going to mean it's going to take longer to
pay off that student loan. And interestingly enough, you mentioned forgiveness,
and that's one of those things that's been this essentially
political and legal battle going on on that front. And
(08:46):
there's like kind of breaking news on that actually right
now that a judge basically said that the Biden administration
can move forward with student loan forgiveness right now. That
kind of tossed out one of the states challenges to
the Biden Administry's plan to forgive student loan debt. Again,
this has been back and forth of political football. If
I was someone with hefty student loans, I would be
(09:09):
thrilled to hear this, But I also I also wouldn't.
I would take it with a grain of salt, because
my guess is this is going to continue to be
battled around and that this isn't like some sort of
final ruling yet.
Speaker 2 (09:20):
All right, moving over to work emails, after hours work emails,
and that's been fairly controversial because well, a whole lot
of people, most people who have email and its connected
to work after hours, they in fact still work, and.
Speaker 1 (09:38):
So yeah, let's talk about that a little bit.
Speaker 4 (09:40):
Yeah, it's like, how do we even think about overtime now, right,
because new ways of working and new ways of living
kind of require new ways of thinking about this stuff.
And typically was like, well, I didn't just work eight
to five. I worked eight to eight, and so I
deserve some overtime hours. And now it's one of those
things where work can be this twenty four to seven attachment,
and so some countries are laws to basically tamp down
(10:02):
on that and telling employers, hey, after work hours, you
can't actually send an email to your employee. That's against
the law now. And so there are like studies out
there talking about how the Australia was one of the
most reasons I think Spain has also has also done that,
but there's like surveys out there, And of course this
makes sense that the effects, the mental effects of staying
(10:23):
connected to your smartphone and to your boss, whether it's
via text or via email, is leading to burnout and
it's causing a lot of people to feel a lack
of love for their job. And so I think for
in this kind of new environment, we're all navigating this
constant connected environment, which whether it's friends or loved ones
(10:44):
or however, like you're.
Speaker 3 (10:45):
Attached to things.
Speaker 4 (10:45):
The work, of course is one of the biggest things
where we need to be able to sever that tie
at certain points in our lives. And I think it's
going to take a frank, heart to heart discussion and
some negotiations with the boss. Maybe you have been connected
like twenty four to seven and you feel like you
have to respond to emails at nine pm at night
and you're tired of it. You might have to have
a frank discussion and say, hey, listen, my boundaries are shifting.
Speaker 3 (11:07):
How can we make this work where.
Speaker 4 (11:10):
I'm helping you know, I'm doing the things I need
to do, but I'm also not expected to respond at
all hours.
Speaker 3 (11:15):
Of the day.
Speaker 2 (11:15):
Yeah, it makes a lot of sense, because you're gonna
hear business schools talk about this a whole lot that
it is the more connectivity there is, the less productivity
and the more unhappy employees are.
Speaker 1 (11:27):
And I think I.
Speaker 2 (11:29):
Certainly experienced that, not personally because I don't talk to
anybody ever, but it's certainly a co worker's in line
that I know. It's like, I think France passed the
first law limiting this. You know, they've already had a
law that you're not allowed to work during work hours,
but now you're not allowed to work after work hours.
Speaker 4 (11:50):
Right right, So just no work at all ever getting
done in France with that's France.
Speaker 1 (11:54):
Oh yeah, that's the way it should be.
Speaker 3 (11:55):
That's the way it should be.
Speaker 2 (11:56):
Oh yeah, the French and they take on by the way, August,
the entire country goes on vacation.
Speaker 1 (12:02):
You know that. Oh yeah, in August, there's nobody there.
Speaker 4 (12:06):
Right, So if you've ever rode the trains in France,
you never know if one's going to be shut down
due to a strike. Somewhe of the long short persons strike.
And I think too, when you look at kind of
the upper crust of some of these businesses, the CEOs,
the people who are in positions of power, they're migrating
back to dumb phones. They want to reduce interruptions in
(12:26):
their life. There's kind of this anti tech movement happening,
which is so funny because it's been around in the
tech industry for a long time. It's like, Hey, we're
gonna make iPads. We're not going to give them to
our kids, but we sure hope you give them to
your kids. And so I think we as the commoners,
the normal folks out there, we have to be able
to say to our bosses, hey, listen, if I'm expecting,
what are the expectations? When am I expected to respond?
(12:48):
If I get an email at eight can I respond
at eight thirty in the morning instead, Because yeah, if
you don't stick up for yourself, no one else is
going to.
Speaker 2 (12:55):
All right, Joel, as always, thanks much. Sunday twelve to
two pm. Social address at how to Money Joel catch.
Speaker 1 (13:04):
Over the weekend, Joel sounds good.
Speaker 3 (13:06):
Thanks may right.
Speaker 2 (13:07):
Okay, So when I tell you that when you don't
have insurance, you're completely screwed. And I've said that we're
talking about home insurance now or auto insurance, doesn't matter
but this has to do with home insurance. Because of
the recent wildfire's. Home insurance is very difficult to get.
In wildfire areas or what they call wildfire areas, you.
Speaker 1 (13:28):
Can't get it.
Speaker 2 (13:30):
And I have people call me on handle on the law.
They have all kinds of problems, and I asked, do
you have home insurance? No, I'm self insured. You know
what self insured means that you have no insurance. And
so for those of you that have no insurance, you
are screwed. Sometimes it's your fault, sometimes it is not
(13:53):
your fault, for example, living in a wildfire area where
you simply can't get insurance, and then you have to
go to what is called the California Fair Plan, which
does it's a state program that does give you fire insurance,
but fire insurance.
Speaker 1 (14:08):
Only, and it is hideously expensive.
Speaker 2 (14:13):
You don't get liability, you don't get any kind of
other insurance, and all you get is fire for a
whole lot of money, far more than what you used
to pay. Those are for people that don't have insurance now,
and you're screwed, by the way, completely screwed.
Speaker 1 (14:30):
Now.
Speaker 2 (14:31):
I want to talk to people who do have home insurance,
and I'm pleased to say you are completely screwed too.
But wait a minute, I have insurance. Well maybe maybe
What does that mean? Every year you have to look
(14:52):
at your home insurance policy and update it and what's
going to happen at the end of your home at
the end of your policy, at the end of your
policy time whatever that is, and they usually give it
one year at a time. Take a look at it,
see what you're deductible is, and see how much it
costs to replace your house. If it's the value of
(15:14):
the house, for example, it may cost you more than
the value of the house to replace that house or
to repair the damage.
Speaker 1 (15:24):
And let me tell you about insurance companies.
Speaker 2 (15:26):
As a given, insurance companies are fighting to not pay
you money. If you have one hundred thousand dollars worth
of damage, legitimately you are going to argue and hopefully
get eighty thousand dollars to repair your home, and you're
simply going to get screwed. What is happening today is
(15:47):
you do have insurance, but in reality you don't have insurance.
Speaker 1 (15:53):
Is it enough to rebuild your house?
Speaker 2 (15:55):
No?
Speaker 1 (15:56):
Absolutely not.
Speaker 2 (15:58):
So my insurance lapse, not through my fault. The insurance
company just said no, thank you. I was able to
get a policy for a lot more money. My policy
doubled in price, my deductible was higher, and the maximum
they would pay me would not cover.
Speaker 1 (16:20):
My house being lost in a fire. And that's with insurance.
Speaker 2 (16:27):
The only way out of this is you have to
buy as much insurance as you can, and sometimes that's limited.
Speaker 1 (16:33):
I mean, if you happen to be under the California
Fair Plan.
Speaker 2 (16:36):
And by the way, this is for everybody, but there
are enough people that do have two million dollar homes.
It is not unique in southern California. You'd have a
two million dollar house. I mean, you're not talking about
someone being a billionaire. Here's the problem with a California
Fair Plan is you pay buckets of.
Speaker 1 (16:53):
Money because you're in an area that can't be insured.
You pay buckets of money. You have a huge deductible.
Speaker 2 (16:59):
It is very, very expensive, and the limit is two
million dollars. So if you have a three million dollar home,
guess what happens. They'll give you two You get to
pay for the rest of it. And so the answer is,
and there is an answer. Every year you look at
it and you look at the cost of it.
Speaker 1 (17:19):
What it's going to cost you to rebuild.
Speaker 2 (17:22):
I mean, what it costs five years ago to rebuild
is nothing compared to what it is today. Materials, labor
have just exploded like everything else.
Speaker 1 (17:36):
And so you can do one of several things. My
suggestion every year you look at it. You call an.
Speaker 2 (17:40):
Insurance broker if you have one. And I'm a big
fan of insurance brokers because they know what they're doing.
There is insurance that talks about replacement value over and
above the value of your home. You can go one
hundred and twenty five percent or one hundred and fifty
percent that they'll go.
Speaker 1 (17:58):
I have that, and I pay for it. But there's
a limit.
Speaker 2 (18:03):
And so do yourself a favor, really look at your
insurance policy. So I end with the wonderful phrase. If
you don't have insurance, you're completely screwed. If you do
have insurance.
Speaker 1 (18:16):
You're completely screwed. I've just described this show, haven't I
all right?
Speaker 2 (18:23):
I want to finish with a story about a galvan
Shanise Amanda Dyer, seventeen years old and manned.
Speaker 1 (18:33):
Was she a bad person?
Speaker 2 (18:35):
She was a member of the Cryps and she wanted
to help the Cryps retaliating for killings by a rival group.
So the targets that the gang chose were completely at random.
So there was an expectant father, his close friend who
was in the doctorate program. That you see a car
pulls up, DIYer is inside boom. She and two other
(18:58):
defendants unleasha all you of gunfire, killing both killing everybody
as a matter of fact, and Dyer sends a text
message taking responsibility, saying she was quote satisfied.
Speaker 1 (19:08):
Made headlines.
Speaker 3 (19:09):
Okay, she.
Speaker 2 (19:12):
Was tried as a juvenile because that was George Gascone's position.
And she went on to commit or accused of committee
another murder, and of course everybody went crazy, and George
gascon this is going to be a big, big issue
for him.
Speaker 1 (19:27):
He's just way too liberal.
Speaker 2 (19:29):
Okay, so that's easy, that's broadbrush, so let's get a reality.
Gascone changed at midterm. He said, Okay, obviously, public pressure
means you don't want to give everybody who commits a
crime as a juvenile to be tried as a juvenile.
Let's try some people as adults. He allowed the das
to make that choice. And let me tell you who
(19:49):
decides to try people or to try juveniles as adults.
A judge, the prosecuting attorney has to go in front
of a judge and ask that the juvenile be charged
as an adult. You know last year how many there
were on that one. Two judges just don't do it.
(20:16):
The bar is very high. There's some laws on the
books that make it almost impossible. Gascon backed up those bills,
by the way, So he's going to lose the election
because of that stuff. But when you hear one illegal
alien killing somebody in g if we don't let anybody
in or one person in jail, remember George do Caucus
(20:37):
when he was running for president, the Willie Horton story.
Speaker 1 (20:41):
Okay, that was one guy let out of prison.
Speaker 2 (20:44):
Well, the Caucus was governor I think it was Maryland
went on to kill someone and that cost him the presidency.
If he had stayed in jail, this never would have happened. Okay,
these are individual cases.
Speaker 1 (20:55):
They are not broad brush.
Speaker 2 (20:57):
However, they do give us an idea indication of where
someone is going. Gascon is gone the other way, just
to let you know, I mean, he is spinning on this.
So it's a lot more complicated than we have a
DA in Los Angeles who happens to be a super liberal,
and we'll never charge a juvenile as an adult.
Speaker 1 (21:15):
Yeah, yeah, he will. It's just that the courts make
it very, very difficult.
Speaker 2 (21:21):
So there's a lot more to the story than just
a DA being a super liberal.
Speaker 1 (21:27):
All right, We're done, guys until tomorrow.
Speaker 2 (21:30):
Quickly, I am taking phone calls for Handle on the
Law off the air. I'm starting in just a few moments.
And as I tell you, there are no interruptions. We
have no commercials, we have no news, we have no breaks,
and we have no patience. So putting all that together,
I go through these calls fairly quickly. I'll be doing
(21:51):
them for about half an hour, forty minutes. Feel free
to call eight seven seven five two zero eleven fifty.
You can call right now. In the meantime, comes tomorrow morning,
five am. It's Amy with wake up call. Here she is, Hi, Amy,
And oh god, that was so nice of me, wasn't
it if you actually saw my face when I did that? Hey, Amy,
(22:13):
Tomorrow morning five am with wake up call, and then
Neil and I jump aboard from six to nine and
we have this rip roaring great show. Was I particularly obnoxious? Today,
by the way, more so than usual.
Speaker 3 (22:28):
You know, I would say I am looking forward to
twenty four hours from right now.
Speaker 2 (22:33):
Yeah, I mean today was I have to be honest
with you, today was a little bit rough. And when
you have a little bit of an off day, it
shows like crazy. So for those of you that found
that the show was a little bit off today and
I was a little bit rough, I have absolutely no
intelligent intention to apologize at all.
Speaker 1 (22:51):
Okay, we're done, or make it better tomorrow, or make
it better tomorrow. Eight seven seven five two zero eleven fifty.
Speaker 2 (23:00):
This is Kay of High Am six forty Live everywhere
everywhere on the iHeartRadio app.
Speaker 1 (23:06):
You've been listening to the Bill Handle Show.
Speaker 2 (23:08):
Catch My Show Monday through Friday six am to nine am,
and anytime on demand on the iHeartRadio app.
You're listening to Bill Handle on demand from KFI AM
six forty And this.
Speaker 2 (00:07):
Is KFI AM six forty Bill Handle on a Thursday morning,
October third, the big longshore per person's because its not
longshore men's anymore. So long shore persons strike is going
on on the East Coast and the Gulf, and it
is a mess. And there's a run on toilet paper
for no reason, by the way, none But hey, we
(00:30):
are sheep, as Neil has said earlier, and then we
are awaiting.
Speaker 1 (00:34):
The Israeli retaliation against Iran.
Speaker 2 (00:37):
I have no idea how far, how deep, and when
it's happening, but it's going to happen soon.
Speaker 1 (00:42):
All right. It is time for Joel Larsgard how.
Speaker 2 (00:45):
To Money, and he's on Sunday twelve to two pm
right here on KFI. Good morning, Joel, morning Bill. Okay,
so let's talk about the longshore person strike and how
it is really going to affect is for.
Speaker 1 (01:00):
Real, toilet paper not an issue.
Speaker 2 (01:04):
For those of us, those of us on the West Coast,
not a big issue.
Speaker 1 (01:08):
But it is going to have.
Speaker 2 (01:11):
Even short term problems, much less medium or long term issues.
Speaker 3 (01:16):
Oh yeah, for sure.
Speaker 4 (01:17):
And it's one of those things where you know, inflation's
getting back under control, We're getting used to more normalcy,
and think about gas prices, you know, getting into kind
of normal sphere. And then this conflict happens in the
Middle East, and now this this long short person strike,
which I appreciate the way you so that that this
is going to potentially, depending on how long it lasts,
(01:37):
it could lead to another ramp up in inflation. It
could lead to more It will lead to more supply strain.
It already is leading to more supply strain on certain items.
Think about just bananas starting to rot. I mean, how
long do they actually stay fresh for. They're not going
to stay fresh for all that long coffee sitting there
right on the East coast ports. And so depending on
how long this lasts, like we could see significant packs
(02:00):
down the line. If there's an agreement reached in short order,
I think the impact is going to be minimal. But
if this goes on for a week or longer, we
could be talking about even like job losses in places
that don't seem like they would be impacted right now
by the strike.
Speaker 1 (02:17):
Yeah, one of the things.
Speaker 2 (02:18):
And now we're going to get into not hard money,
but more philosophically and societally.
Speaker 1 (02:24):
Let me get this, okay, I got the mute off.
Speaker 2 (02:28):
Now, is that the long short people are the union
is asking for two things. One wages, which I clearly
understand that's typical with the union, benefits, wages, retirement plans,
medical and how far is it go. The other one,
which I'm having a very hard time with, is automation,
(02:49):
saying into the terminal worker, terminal operators, you have to
stop automation, you cannot use technology or limit technology.
Speaker 1 (03:00):
Is that bode for the future.
Speaker 4 (03:02):
Well, I think you can see why you would ask
for that as a as a long short person working
on the docks, you can you can see why they
would want that. Like, listen, these these new technologies are
threatening to eliminate some of the jobs. We might be
handsomely paid now, but in the future, maybe five six
years down the road, there might be a whole lot
less of us, and we might not have as much
(03:23):
bargaining power, and so trying to stave off this technological
revolution which impacts businesses all across the country and all
across the world. I get why you would ask for that,
but the problem is, like you can't stop technology you're talking.
Speaker 1 (03:38):
About exactly you're trying to. Can you imagine, oh yeah.
Speaker 3 (03:42):
You were talking about chat GPT just a few minutes ago.
Speaker 4 (03:44):
That's one of those things where it's there is no
stopping these these language models from being built. And so
even if we create rules inside of the United States
of America to slow things down, well they're gonna have
China is going to develop.
Speaker 3 (03:58):
Things like that. You can't you can leash put a
leash on technology.
Speaker 4 (04:01):
And so again I understand the ask, but it's a
terrible idea, and it's one of those things where I
think that's going to be the sticking point, and I'm
curious to see how that gets resolved in I.
Speaker 2 (04:11):
Don't know how the terminals, you know, negotiations on pay.
I can see that they've already offered fifty percent over
six years, the long shore union one seventy seven percent.
Speaker 1 (04:20):
I can't get all that.
Speaker 2 (04:22):
But to try to stop technology, as you just pointed out,
I mean, can you imagine the United Auto Workers saying
no robots and the manufacturing process none, that's everything has
to now be done by hand. No.
Speaker 1 (04:38):
It just it's crazy.
Speaker 2 (04:40):
That's and that's what frightens me about this by the way,
that issue. Okay, let me do we didn't take an
early break? Sure, Kno, let's take an early break here,
And did you say no, I've never had you know what.
Speaker 1 (05:01):
We've reached the point now.
Speaker 2 (05:02):
Where this thing is getting too loose and easy. Okay,
if you would like to be here tomorrow. That was
the last time you ever did that? All right, Okay, Joel,
We're gonna take an early break. If that's okay with you.
Speaker 3 (05:18):
I'm fine with u.
Speaker 1 (05:19):
See Cono, did you hear that?
Speaker 3 (05:21):
I heard it.
Speaker 1 (05:21):
I'm fine with that sheep.
Speaker 3 (05:23):
He's a sheep.
Speaker 2 (05:24):
Okay, we'll be right back, and Joel Larsgard with us.
Joel has heard every Sunday twelve pm to two pm.
He's host of How to Money, which is I think
what we cleverly call this segment.
Speaker 1 (05:35):
Someone went out of their way to try to figure
this one.
Speaker 3 (05:37):
Out, Joel. That's right.
Speaker 1 (05:40):
Yeah.
Speaker 3 (05:40):
A marketing team.
Speaker 2 (05:42):
Yeah, look, Joe, our marketing team goes all out. All right, Beck,
we go to I think we've done the long shortman strike,
the long short person strike and what it's going to do,
and it's just a question of time, as you pointed out,
if it ends the next couple of days, We're okay
if it keeps on going. The scary part is the
head of the union, and this is fifty thousand members strong,
(06:02):
said it outright. We are prepared to go for months,
and we are prepared to let the world collapse.
Speaker 1 (06:10):
Literally, that's a quote. Thank you.
Speaker 3 (06:12):
That's frightening.
Speaker 1 (06:13):
That's right, it certainly is, and they could probably do it. Okay.
Speaker 2 (06:16):
Now, student loans, we talked about that a whole lot
of times over the last several years. There was a
payment pause, right, There was a moratorium that started at
pandemic time and it's lasted.
Speaker 1 (06:30):
What four years now.
Speaker 2 (06:32):
Basically, let's talk about that, because you know, this is
not forgiveness, which is and everybody's can for a lot
of people are conflating this.
Speaker 4 (06:42):
Yeah, I want to come back to forgiveness, by the way,
but yes, the payment pause was something like three plus years,
and then there has been over the last year essentially
this grace period for people who weren't ready to make
their student loan payment.
Speaker 3 (06:55):
So interest has been accruing.
Speaker 4 (06:56):
But if you were unable or you just said you
were unable to make your student loan payment, you didn't
have to because what was going to happen. Was no
consequences at least to your credit, your credit report, your
credit score, And so a lot of people have not
been paying their student loans over the last year, even
though student loan payments kind of are back online with
that payment pause being over. But yeah, now at this point,
(07:19):
as of October first, essentially if you don't pay your
student loan, not only are you accruing interest, but now
you can start being reported to the credit bureaus and
that can damage your score. So everybody out there with
student loans needs to know that.
Speaker 2 (07:34):
Hey, Joel, when you talk about interest accruing, does that
from the day one that the moratorium kicked in or
does it start now that you're liable for payments.
Speaker 4 (07:45):
No, it's been a crazy So there was no interest
accruing during the payment pause, that three plus year payment pause,
but once that pause was over and it was just
kind of that amnesty period the one year, that is
when the interest started accruing again. And so if you
haven't been paying your student loan payment for the last year,
like you didn't have to, y're't going to at least
(08:06):
see the consequences on the credit score, but you are
seeing a larger balance.
Speaker 2 (08:10):
Okay, And so does that just extend the period of
time that you have to pay off the loan inclusive
of that interest, or does that kick up your payments
now because you owe that much more money because of
the interest That makes.
Speaker 4 (08:25):
Ansor are going to be determined on different There are
different ways of determining that payment based on what payment
plan you're on, and so much if it comes down
to your income. But yeah, it's for a lot of people,
it's going to mean it's going to take longer to
pay off that student loan. And interestingly enough, you mentioned forgiveness,
and that's one of those things that's been this essentially
political and legal battle going on on that front. And
(08:46):
there's like kind of breaking news on that actually right
now that a judge basically said that the Biden administration
can move forward with student loan forgiveness right now. That
kind of tossed out one of the states challenges to
the Biden Administry's plan to forgive student loan debt. Again,
this has been back and forth of political football. If
I was someone with hefty student loans, I would be
(09:09):
thrilled to hear this, But I also I also wouldn't.
I would take it with a grain of salt, because
my guess is this is going to continue to be
battled around and that this isn't like some sort of
final ruling yet.
Speaker 2 (09:20):
All right, moving over to work emails, after hours work emails,
and that's been fairly controversial because well, a whole lot
of people, most people who have email and its connected
to work after hours, they in fact still work, and.
Speaker 1 (09:38):
So yeah, let's talk about that a little bit.
Speaker 4 (09:40):
Yeah, it's like, how do we even think about overtime now, right,
because new ways of working and new ways of living
kind of require new ways of thinking about this stuff.
And typically was like, well, I didn't just work eight
to five. I worked eight to eight, and so I
deserve some overtime hours. And now it's one of those
things where work can be this twenty four to seven attachment,
and so some countries are laws to basically tamp down
(10:02):
on that and telling employers, hey, after work hours, you
can't actually send an email to your employee. That's against
the law now. And so there are like studies out
there talking about how the Australia was one of the
most reasons I think Spain has also has also done that,
but there's like surveys out there, And of course this
makes sense that the effects, the mental effects of staying
(10:23):
connected to your smartphone and to your boss, whether it's
via text or via email, is leading to burnout and
it's causing a lot of people to feel a lack
of love for their job. And so I think for
in this kind of new environment, we're all navigating this
constant connected environment, which whether it's friends or loved ones
(10:44):
or however, like you're.
Speaker 3 (10:45):
Attached to things.
Speaker 4 (10:45):
The work, of course is one of the biggest things
where we need to be able to sever that tie
at certain points in our lives. And I think it's
going to take a frank, heart to heart discussion and
some negotiations with the boss. Maybe you have been connected
like twenty four to seven and you feel like you
have to respond to emails at nine pm at night
and you're tired of it. You might have to have
a frank discussion and say, hey, listen, my boundaries are shifting.
Speaker 3 (11:07):
How can we make this work where.
Speaker 4 (11:10):
I'm helping you know, I'm doing the things I need
to do, but I'm also not expected to respond at
all hours.
Speaker 3 (11:15):
Of the day.
Speaker 2 (11:15):
Yeah, it makes a lot of sense, because you're gonna
hear business schools talk about this a whole lot that
it is the more connectivity there is, the less productivity
and the more unhappy employees are.
Speaker 1 (11:27):
And I think I.
Speaker 2 (11:29):
Certainly experienced that, not personally because I don't talk to
anybody ever, but it's certainly a co worker's in line
that I know. It's like, I think France passed the
first law limiting this. You know, they've already had a
law that you're not allowed to work during work hours,
but now you're not allowed to work after work hours.
Speaker 4 (11:50):
Right right, So just no work at all ever getting
done in France with that's France.
Speaker 1 (11:54):
Oh yeah, that's the way it should be.
Speaker 3 (11:55):
That's the way it should be.
Speaker 2 (11:56):
Oh yeah, the French and they take on by the way, August,
the entire country goes on vacation.
Speaker 1 (12:02):
You know that. Oh yeah, in August, there's nobody there.
Speaker 4 (12:06):
Right, So if you've ever rode the trains in France,
you never know if one's going to be shut down
due to a strike. Somewhe of the long short persons strike.
And I think too, when you look at kind of
the upper crust of some of these businesses, the CEOs,
the people who are in positions of power, they're migrating
back to dumb phones. They want to reduce interruptions in
(12:26):
their life. There's kind of this anti tech movement happening,
which is so funny because it's been around in the
tech industry for a long time. It's like, Hey, we're
gonna make iPads. We're not going to give them to
our kids, but we sure hope you give them to
your kids. And so I think we as the commoners,
the normal folks out there, we have to be able
to say to our bosses, hey, listen, if I'm expecting,
what are the expectations? When am I expected to respond?
(12:48):
If I get an email at eight can I respond
at eight thirty in the morning instead, Because yeah, if
you don't stick up for yourself, no one else is
going to.
Speaker 2 (12:55):
All right, Joel, as always, thanks much. Sunday twelve to
two pm. Social address at how to Money Joel catch.
Speaker 1 (13:04):
Over the weekend, Joel sounds good.
Speaker 3 (13:06):
Thanks may right.
Speaker 2 (13:07):
Okay, So when I tell you that when you don't
have insurance, you're completely screwed. And I've said that we're
talking about home insurance now or auto insurance, doesn't matter
but this has to do with home insurance. Because of
the recent wildfire's. Home insurance is very difficult to get.
In wildfire areas or what they call wildfire areas, you.
Speaker 1 (13:28):
Can't get it.
Speaker 2 (13:30):
And I have people call me on handle on the law.
They have all kinds of problems, and I asked, do
you have home insurance? No, I'm self insured. You know
what self insured means that you have no insurance. And
so for those of you that have no insurance, you
are screwed. Sometimes it's your fault, sometimes it is not
(13:53):
your fault, for example, living in a wildfire area where
you simply can't get insurance, and then you have to
go to what is called the California Fair Plan, which
does it's a state program that does give you fire insurance,
but fire insurance.
Speaker 1 (14:08):
Only, and it is hideously expensive.
Speaker 2 (14:13):
You don't get liability, you don't get any kind of
other insurance, and all you get is fire for a
whole lot of money, far more than what you used
to pay. Those are for people that don't have insurance now,
and you're screwed, by the way, completely screwed.
Speaker 1 (14:30):
Now.
Speaker 2 (14:31):
I want to talk to people who do have home insurance,
and I'm pleased to say you are completely screwed too.
But wait a minute, I have insurance. Well maybe maybe
What does that mean? Every year you have to look
(14:52):
at your home insurance policy and update it and what's
going to happen at the end of your home at
the end of your policy, at the end of your
policy time whatever that is, and they usually give it
one year at a time. Take a look at it,
see what you're deductible is, and see how much it
costs to replace your house. If it's the value of
(15:14):
the house, for example, it may cost you more than
the value of the house to replace that house or
to repair the damage.
Speaker 1 (15:24):
And let me tell you about insurance companies.
Speaker 2 (15:26):
As a given, insurance companies are fighting to not pay
you money. If you have one hundred thousand dollars worth
of damage, legitimately you are going to argue and hopefully
get eighty thousand dollars to repair your home, and you're
simply going to get screwed. What is happening today is
(15:47):
you do have insurance, but in reality you don't have insurance.
Speaker 1 (15:53):
Is it enough to rebuild your house?
Speaker 2 (15:55):
No?
Speaker 1 (15:56):
Absolutely not.
Speaker 2 (15:58):
So my insurance lapse, not through my fault. The insurance
company just said no, thank you. I was able to
get a policy for a lot more money. My policy
doubled in price, my deductible was higher, and the maximum
they would pay me would not cover.
Speaker 1 (16:20):
My house being lost in a fire. And that's with insurance.
Speaker 2 (16:27):
The only way out of this is you have to
buy as much insurance as you can, and sometimes that's limited.
Speaker 1 (16:33):
I mean, if you happen to be under the California
Fair Plan.
Speaker 2 (16:36):
And by the way, this is for everybody, but there
are enough people that do have two million dollar homes.
It is not unique in southern California. You'd have a
two million dollar house. I mean, you're not talking about
someone being a billionaire. Here's the problem with a California
Fair Plan is you pay buckets of.
Speaker 1 (16:53):
Money because you're in an area that can't be insured.
You pay buckets of money. You have a huge deductible.
Speaker 2 (16:59):
It is very, very expensive, and the limit is two
million dollars. So if you have a three million dollar home,
guess what happens. They'll give you two You get to
pay for the rest of it. And so the answer is,
and there is an answer. Every year you look at
it and you look at the cost of it.
Speaker 1 (17:19):
What it's going to cost you to rebuild.
Speaker 2 (17:22):
I mean, what it costs five years ago to rebuild
is nothing compared to what it is today. Materials, labor
have just exploded like everything else.
Speaker 1 (17:36):
And so you can do one of several things. My
suggestion every year you look at it. You call an.
Speaker 2 (17:40):
Insurance broker if you have one. And I'm a big
fan of insurance brokers because they know what they're doing.
There is insurance that talks about replacement value over and
above the value of your home. You can go one
hundred and twenty five percent or one hundred and fifty
percent that they'll go.
Speaker 1 (17:58):
I have that, and I pay for it. But there's
a limit.
Speaker 2 (18:03):
And so do yourself a favor, really look at your
insurance policy. So I end with the wonderful phrase. If
you don't have insurance, you're completely screwed. If you do
have insurance.
Speaker 1 (18:16):
You're completely screwed. I've just described this show, haven't I
all right?
Speaker 2 (18:23):
I want to finish with a story about a galvan
Shanise Amanda Dyer, seventeen years old and manned.
Speaker 1 (18:33):
Was she a bad person?
Speaker 2 (18:35):
She was a member of the Cryps and she wanted
to help the Cryps retaliating for killings by a rival group.
So the targets that the gang chose were completely at random.
So there was an expectant father, his close friend who
was in the doctorate program. That you see a car
pulls up, DIYer is inside boom. She and two other
(18:58):
defendants unleasha all you of gunfire, killing both killing everybody
as a matter of fact, and Dyer sends a text
message taking responsibility, saying she was quote satisfied.
Speaker 1 (19:08):
Made headlines.
Speaker 3 (19:09):
Okay, she.
Speaker 2 (19:12):
Was tried as a juvenile because that was George Gascone's position.
And she went on to commit or accused of committee
another murder, and of course everybody went crazy, and George
gascon this is going to be a big, big issue
for him.
Speaker 1 (19:27):
He's just way too liberal.
Speaker 2 (19:29):
Okay, so that's easy, that's broadbrush, so let's get a reality.
Gascone changed at midterm. He said, Okay, obviously, public pressure
means you don't want to give everybody who commits a
crime as a juvenile to be tried as a juvenile.
Let's try some people as adults. He allowed the das
to make that choice. And let me tell you who
(19:49):
decides to try people or to try juveniles as adults.
A judge, the prosecuting attorney has to go in front
of a judge and ask that the juvenile be charged
as an adult. You know last year how many there
were on that one. Two judges just don't do it.
(20:16):
The bar is very high. There's some laws on the
books that make it almost impossible. Gascon backed up those bills,
by the way, So he's going to lose the election
because of that stuff. But when you hear one illegal
alien killing somebody in g if we don't let anybody
in or one person in jail, remember George do Caucus
(20:37):
when he was running for president, the Willie Horton story.
Speaker 1 (20:41):
Okay, that was one guy let out of prison.
Speaker 2 (20:44):
Well, the Caucus was governor I think it was Maryland
went on to kill someone and that cost him the presidency.
If he had stayed in jail, this never would have happened. Okay,
these are individual cases.
Speaker 1 (20:55):
They are not broad brush.
Speaker 2 (20:57):
However, they do give us an idea indication of where
someone is going. Gascon is gone the other way, just
to let you know, I mean, he is spinning on this.
So it's a lot more complicated than we have a
DA in Los Angeles who happens to be a super liberal,
and we'll never charge a juvenile as an adult.
Speaker 1 (21:15):
Yeah, yeah, he will. It's just that the courts make
it very, very difficult.
Speaker 2 (21:21):
So there's a lot more to the story than just
a DA being a super liberal.
Speaker 1 (21:27):
All right, We're done, guys until tomorrow.
Speaker 2 (21:30):
Quickly, I am taking phone calls for Handle on the
Law off the air. I'm starting in just a few moments.
And as I tell you, there are no interruptions. We
have no commercials, we have no news, we have no breaks,
and we have no patience. So putting all that together,
I go through these calls fairly quickly. I'll be doing
(21:51):
them for about half an hour, forty minutes. Feel free
to call eight seven seven five two zero eleven fifty.
You can call right now. In the meantime, comes tomorrow morning,
five am. It's Amy with wake up call. Here she is, Hi, Amy,
And oh god, that was so nice of me, wasn't
it if you actually saw my face when I did that? Hey, Amy,
(22:13):
Tomorrow morning five am with wake up call, and then
Neil and I jump aboard from six to nine and
we have this rip roaring great show. Was I particularly obnoxious? Today,
by the way, more so than usual.
Speaker 3 (22:28):
You know, I would say I am looking forward to
twenty four hours from right now.
Speaker 2 (22:33):
Yeah, I mean today was I have to be honest
with you, today was a little bit rough. And when
you have a little bit of an off day, it
shows like crazy. So for those of you that found
that the show was a little bit off today and
I was a little bit rough, I have absolutely no
intelligent intention to apologize at all.
Speaker 1 (22:51):
Okay, we're done, or make it better tomorrow, or make
it better tomorrow. Eight seven seven five two zero eleven fifty.
Speaker 2 (23:00):
This is Kay of High Am six forty Live everywhere
everywhere on the iHeartRadio app.
Speaker 1 (23:06):
You've been listening to the Bill Handle Show.
Speaker 2 (23:08):
Catch My Show Monday through Friday six am to nine am,
and anytime on demand on the iHeartRadio app.
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