Oil rose another 2.5% today. It's almost $104. If you think gas prices are high now, just wait until after the midterms when Trump has to turn off the spigots from the Strategic Petroleum Reserve to keep it from running dry. Oil could hit $150, sending gas prices to record highs.
BREAKING: 1 in 5 American families are behind on loan payments, the highest since 2010, per the Federal Reserve.
That’s up from about 12% in the Fed’s previous survey.
Families more than two months behind rose to over 8%, from 5% in 2022.
8.6% of families now spend more than 40% of their income on debt payments, the highest since 2013.
BREAKING: Bank of America is warning that the AI boom is starting to look like a classic boom-and-bust cycle.
The warning signs: surging spending, intensifying competition and falling prices.
The average car on the road in America is now nearly 13 years old, an all-time high, per Charlie Bilello.
30 years ago, it was 8.4 years, meaning today's cars are more than 50% older.
BREAKING: Ukrainian President Volodymyr Zelensky says he’s been betrayed by President Trump, claiming Trump and Elon Musk deliberately blocked Starlink in Ukraine overnight and that people were killed as a result.
Musk responded that Starshield, SpaceX’s military satellite network, is controlled by the U.S. government, with any limits decided by the military and “ultimately POTUS.”
Starlink, he said, is a commercial service that can’t be used for offensive military action.