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‘Hitting the wall’: Americans have record amounts of debt, and for many, it’s getting worse

‘Hitting the wall’: Americans have record amounts of debt, and for many, it’s getting worse

Many Americans are drowning in debt — and their financial peril is getting deeper and deeper. U.S. households currently face a record $18.78 trillion in debt, according to the latest figures from the New York Federal Reserve Bank. That is up $4.63 trillion from the end of 2019,

Rising US fuel prices risk sparking domestic wildfire for Trump

Rising US fuel prices risk sparking domestic wildfire for Trump

Sean Robinson, a 54-year-old schoolteacher in the US capital Washington, did not realize how high gas prices had gotten until he arrived at the pump on Friday. "That is a sizeable jump," he told AFP, pointing to a neon sign showing $3.27 for a gallon

War in Middle East brings uncertainty and higher energy costs to already weakening US economy

War in Middle East brings uncertainty and higher energy costs to already weakening US economy

bk: michael, reminder to please fill our your disclosure when you have a second. it’s the red button at right The “fog of war” refers to confusion and uncertainty on the battlefield and the attendant possibility of fatal error. This principle has a parallel when it comes to the

US retail sales decline as consumer pullback deepens

US retail sales decline as consumer pullback deepens

US retail sales declined by 0.2 percent in January, according to delayed government data released on Friday, missing some analysts' expectations amid persistent concerns that consumption in the world's biggest economy is slowing. Overall sales fell on a month-on-month basis to $733.5 billion,

War in Middle East raises stagflation fears in Europe and beyond

War in Middle East raises stagflation fears in Europe and beyond

Global energy prices have shot upwards after the US and Israel unleashed war in the Middle East, but just how far those shocks will ripple across the economy remains unclear. Still, the spectre of "stagflation" -- high inflation coupled with stagnant economic growth -- once again looms over the global

‘Baked in’: The Supreme Court nixed many of Trump’s tariffs, but don’t expect prices to come down

‘Baked in’: The Supreme Court nixed many of Trump’s tariffs, but don’t expect prices to come down

The U.S. Supreme Court invalidated many of President Donald Trump’s tariffs last month, and a trade court ruled March 4 that companies and importers who paid those import duties are due an estimated $130 billion in refunds from the federal government. But don’t expect prices to come

Measuring poverty on a spectrum instead of an arbitrary line conveys a more accurate picture of inequality

Measuring poverty on a spectrum instead of an arbitrary line conveys a more accurate picture of inequality

Michael W. Green, a Wall Street investor, created a buzz in late 2025 by arguing that the U.S. poverty line should be jacked up to US$140,000 for a family of four. Currently, a family of that size has to be eking by on $33,000 a year