Economy
-
‘Almost unmanageable’: Raising a child in the U.S. now costs more than $300,000
The experience of being a parent may be priceless. But the reality is there’s a price tag on raising a child, and it’s up in the hundreds of thousands. The average cost of raising a child over the course of 18 years in the U.S. has reached $303,418, according to a new study from LendingTree.…
-
‘I just keep seeing a lot of different aspects of life getting more expensive’: New car prices are up 30% over 6 years
After a few years of sharing a 2019 Chevrolet Trax, Dana Eble and Tyler Marcus are finally looking for a second car. But as they jump into the market, the young married couple isn’t sure what they can afford. “I just keep seeing a lot of different aspects of life getting more expensive, and it’s…
-
Turns out the American middle class didn’t die. It got richer—and felt poorer
There’s a peculiar kind of vertigo that comes with being an affluent American in 2026. You’ve made it. By nearly every historical metric, you are living in spectacular abundance. You have a six-figure income, a retirement account, a nice car. And yet something feels wrong — crowded, competitive, precarious. The airport lounge is too full.…
-
‘People are trying to be creative’: Tariff-battered American companies are so cash-starved they are using refund claims as collateral for loans
When the Supreme Court struck down President Donald Trump’s tariffs two months ago, many companies rejoiced at the prospect of returning to pre-tariff prices and the possibility of getting a refund back from the government. However, the ruling may have also created a $166 billion problem. U.S. importers—who have shouldered the brunt of the tariffs—are…
-
The petrodollar faces increased risk, but a petroyuan is ‘far-fetched’ as fears of U.S. losing superpower status are overhyped, strategist says
President Donald Trump’s war on Iran has raised doubts about America’s superpower status and currency dominance as the Strait of Hormuz remains under Tehran’s control. But Dan Alamariu, chief geopolitical strategist at Alpine Macro, isn’t buying predictions about a U.S. decline: “Don’t Believe The Hype (Yet).” In a note on Friday, he acknowledged that if…
-
Average price of new cars nears $50,000 as automakers focus on big pickups and SUVs while cheaper sedans get phased out
After a few years of sharing a 2019 Chevrolet Trax, Dana Eble and Tyler Marcus are finally looking for a second car. But as they jump into the market, the young married couple isn’t sure what they can afford. “I just keep seeing a lot of different aspects of life getting more expensive, and it’s…
-
Inflation goes up by a whopping monthly rate of nearly 1%—and it’s hitting you at the grocery store and gas station
Can’t live without your morning cup (or cups) of coffee? Better taper down that caffeine addiction: it’s costing you a lot more to get your daily cup of joe. Inflation surged nearly a full percent in a month, according to the latest Consumer Price Index released today by the Bureau of Labor Statistics. Most of…
-
Trump’s gift to China: a booming market for cheap, state-of-the-art EVs amid the Iran War
China’s exports of passenger cars accelerated in March, an industry association said Friday, as Chinese automakers stepped up their push to grow overseas markets. Passenger car exports jumped 82.4% year-on-year last month to around 748,000 vehicles, according to the China Association of Automobile Manufacturers, up from the 586,000 vehicles exported in February. Exports of new energy…
-
‘Downward mobility is incredibly radicalizing’: The college bargain is broken. What comes next could reshape America
The warning signs were there two decades ago—long before ChatGPT, long before anyone worried about a robot taking their job. Around 2005, something quietly shifted in the American labor market. College degrees kept multiplying. Good jobs did not. “This is a generation of people that was really given the hardest sell of any generation in…
-
The next generation of senators has a ticking time bomb in its lap: Social Security’s impending insolvency and no plan for the national debt
The Committee for a Responsible Federal Budget (CRFB) has a ticker on its website: The Retirement Trust Fund Countdown. At the time of writing, it stands at six years, seven months, five days, seven hours, 28 minutes, and eleven seconds. This, the CRFB says, is when the Social Security program’s funds will be exhausted, and…