Finance
-
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…
-
Former ‘Citgo 6’ political prisoner sees ‘karma’ in Maduro ouster, but Venezuelan oil won’t rebound until there’s true regime change
Watching Nicolás Maduro transported in handcuffs by U.S. officials in January, José Pereira felt a sense of retribution and a release of eight years of pent-up anger. “That is exactly what this guy did to us,” Pereira said of the former Venezuelan strongman leader. “For me, it was like, ‘Wow, now you’re suffering. Now, this…
-
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…
-
Three oil supertankers appear to make move through Hormuz
Two Chinese supertankers loaded with crude appeared to be transiting the Strait of Hormuz hours after a Greek vessel moved through the waterway, in what would mark a significant uptick in oil shipping traffic days after a fragile ceasefire between the US and Iran was announced. If all three pass on Saturday — the journey…
-
Some of cheapest fuel can be found on Native American reservations as tribes are exempt from state gas taxes
Junelle Lewis was on the hunt for a reprieve from Seattle-area gas prices driven high by the Iran war when an app on her phone gave her the answer: the Tulalip Reservation north of the city, almost half an hour from her home. She didn’t hesitate. “I purposely drove here just for the gas,” Lewis…
-
Over a third of Ireland’s fuel stations are empty and truck and tractor drivers are protesting nationwide
Protests over the soaring cost of fuel spread disruption across Ireland on Saturday with many gas stations running dry as truck and tractor drivers staged a fifth day of blockades at the country’s sole fuel refinery and several depots. Vehicles blocking traffic led to closures of the main highway around the capital, Dublin, as well…
-
Data centers and gas demand make boring pipelines great again
New pipeline construction is almost as hard to find in New York and New England as the Loch Ness Monster is in Scotland. But there’s now a NESE (pronounced “Nessie”) sighting in Brooklyn. Oklahoma-based Williams Companies will break ground April 14 on the Northeast Supply Enhancement pipeline that expands its Transco natural gas network in…
-
The ‘affordability economy’ has created a housing market nobody predicted: Prices collapsing in the Sun Belt, soaring in the Rust Belt
U.S. housing is experiencing a historic “reversion to the mean.” In other words, the formerly sizzling metros have gone cold, and the unsexy plodders are back in vogue. That point comes through vividly in the new market snapshot just released by the highly influential American Enterprise Institute Housing Center. The AEI data, compiled by co-directors…