5 Things the Working Class Can’t Afford Anymore Due To Inflation and the Cost of Living Crises
Rising inflation, stagnant wages and higher interest rates have pushed five once‑routine expenses out of reach for many American workers. As of April 2026 the median home price sits at $408,800, a fast‑food family meal costs $14, and a new car averages $49,275 with payments over $700. Full‑time child‑care now runs $15,000‑$25,000 per year, while health‑insurance premiums keep climbing, forcing many into minimal coverage. The article argues these unaffordable basics erode wealth‑building and labor participation for the working class.
Inflation Forces Working Class to Lose Everyday Essentials
5 Things The Working Class Can’t Afford Anymore Due To Inflation And The Cost Of Living Crises https://t.co/H9mtcUTN4g
Consumer Sentiment Has Never Been This Bad
The University of Michigan’s Index of Consumer Sentiment plunged to 47.6 in the preliminary April 2026 reading, the lowest level since the survey began in the 1970s and below the previous record set in mid‑2022. The current‑conditions sub‑index fell to...
U.S. Inflation Stays Hot Despite Hormuz Shock
New at THE OVERSHOOT: "Look Through" the Hormuz Shock if You Want. U.S. Inflation is Still Running Hot. https://t.co/fwWOwt7491 Plus: explaining the CPI-PCE gap https://t.co/0DPKZoAo2y
"Look Through" The Hormuz Shock if You Want. U.S. Inflation Is Still Running Hot.
The closure of the Strait of Hormuz has forced Saudi Arabia, Kuwait, Iraq and the UAE to cut roughly 7.5 million barrels per day of crude output in March, with shut‑ins expected to reach about 9 million barrels per day in April...
Universal Basic Income Offsets AI Unemployment Without Causing Inflation
Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI. AI/robotics will produce goods & services far in excess of the increase in the money supply, so there will...
Fed Governor Stephen Miran Scales Back Rate‑Cut Outlook as Inflation Mix Turns Less Favorable
Federal Reserve Governor Stephen Miran told the Washington Economic Festival that recent inflation data have become less favorable, prompting him to trim his projected number of rate cuts from four to three this year. The shift reflects a reassessment of...
Goldman Sachs Flags Overvalued US Stocks, Unveils Six Options‑Based Hedge Strategies
Goldman Sachs warned that US stocks are overvalued and outlined six hedging transactions that use options structures to limit downside while targeting returns of up to 13.2 times the investment. The bank’s report, released April 16, recommends SPY put spreads,...
Fed’s Williams Says Rates Will Hold Steady Amid Middle East Conflict
Federal Reserve Bank of New York President John Williams told reporters Thursday that the central bank will keep interest rates unchanged for now, citing the heightened uncertainty from the Middle East war. While he stopped short of forward guidance, Williams...
IMF Warns US Treasury Premium Eroding as Debt Issuance Swells
The International Monetary Fund warned that the surge in U.S. Treasury issuance is eroding the safety premium investors have long demanded, pushing up borrowing costs worldwide. The IMF’s Fiscal Monitor cites a 6% of GDP budget deficit and a shift...
US Inflation Just Begun: The Genie Won’t Return
My view in @FortuneMagazine on how US inflation is JUST GETTING STARTED: “It’s at the point now where the inflation genie is clearly out of the bottle and won’t be put back in anytime soon.” https://t.co/40tVOVEUt1
Senate Democrats Move to Stall Trump’s ‘Absurd’ Bid to Install New Fed Chair
Senate Democrats on the banking committee have asked Republican leadership to postpone the confirmation hearing for Kevin Warsh, President Donald Trump’s nominee to replace Federal Reserve Chair Jerome Powell. The request comes as the Justice Department investigates Powell over a...
Taxing, Borrowing, and Printing: Three Ways America Pays for Government
America finances government through three mechanisms—taxes, borrowing, and inflation. Taxation claims about 39% of a median two‑income family’s earnings and adds roughly $7,100 per person in state and local levies, plus an estimated $600 tariff‑related charge per household in 2026....
Democrats Propose $5,500 Earned Income Tax Credit Boost for Young Children
Rep. Kristen McDonald Rivet introduced the Working Parents Tax Relief Act, a Democratic bill that would add a $5,500 credit per child under age four to the Earned Income Tax Credit and raise the income ceiling to $100,000. The proposal aims to...
Jefferson Health’s $180 Million Loss Highlights GLP‑1 Drug Cost Surge for Employers
Jefferson Health’s employee insurance plan posted a $180 million loss in 2025, about one‑third of which stemmed from coverage of GLP‑1 weight‑loss drugs. The surge forced the nonprofit system to tighten eligibility rules, sparking a broader debate on how rising prescription...
A World Going Broke: IMF Says America’s $39 Trillion National Debt Is Actually a Global Problem—And AI May Be the...
The IMF’s latest Fiscal Monitor warns that global public debt will reach 99% of world GDP by 2028, with a 95th‑percentile stress scenario pushing it to 121% within three years. The United States, carrying a $39 trillion debt, is projected to...
Industrial Production Declines 0.5 Percent in March but Feb Revised Higher
The Federal Reserve’s March 2026 industrial production report showed a 0.5% month‑over‑month decline, yet the index still reflected a 2.4% annualized growth rate for the first quarter. Manufacturing output slipped 0.1% in March but posted a 3.0% quarterly gain, while...
How Are Consumers Still Spending So Much?
U.S. consumer spending remains robust despite higher inflation, gas price spikes and a softer labor market, with retail sales climbing to $638 billion in April 2026. Household balance sheets have shifted dramatically: consumer debt rose to $18.8 trillion, yet total assets surged to...
America’s Productivity Pop Has a Startup Backstory
U.S. labor productivity has edged up, marking the strongest post‑Great‑Financial‑Crisis gain, but analysts caution the metric’s volatility and the fact that higher output per worker can stem from workforce composition shifts. The recent surge in business‑formation applications—up roughly 20% over...
After Pandemic Relief Ended, CBO Shows Federal Taxes Remained Progressive in 2022
The Congressional Budget Office’s 2022 income distribution report shows the federal tax and transfer system stayed progressive after pandemic relief expired. Household after‑tax income growth slowed, driven by the loss of recovery rebates, expanded unemployment benefits, and the temporary child‑tax‑credit...
Mortgage Rates Drop to 6.3%
The Freddie Mac 30‑year mortgage rate slipped 7 basis points to 6.30% after a cease‑fire was announced in the Iran conflict, a move mirrored by a decline in the 10‑year Treasury yield. While the dip offers a brief reprieve, its durability...
Placer.ai Macroeconomic Indicators Analysis, March 2026 – Placer.ai Blog
Placer.ai’s March 2026 macro‑economic indicators show retail foot traffic holding steady overall, while e‑commerce distribution‑center visits surged 16.2% year‑over‑year and manufacturing facility visits edged up 0.7%. The flat retail numbers stem largely from a calendar shift—fewer Saturdays—rather than a demand dip....
What a Time to Be a Central Bank
In this brief Marketplace segment, chief economist Diane Swank of KPMG breaks down the Federal Reserve’s looming decision on interest rates, highlighting how the war in Iran and lingering supply‑chain disruptions are pushing policymakers toward higher rates despite a surprisingly...
Economists Predict US GDP Growth Lagging White House Forecasts
The growth outlook for the United States is muted. Economists estimate GDP growth for the next 3 years will be significantly below White House estimates. @morningjoe
Bottom Wage Growth Outpaces Top in 2026 Q1
New data on 2026 Q1 usual weekly earnings in the US have implications for the K-shaped debate. 1. Measured against pre-pandemic (1st chart), the bottom has done meaningfully better on nominal wage growth than the top. 2. Over last few...
Scaramucci Declares U.S. Economy Already in Recession, Citing Middle‑Class Strain
Former White House communications director Anthony Scaramucci told Business Insider the United States is already in a recession, pointing to flat growth, falling middle‑class spending and lingering energy shocks. His assessment adds a high‑profile voice to a growing chorus of...
Fed's Lax Stance Hurts 60/40 Returns, Needs Tighter Policy
Lot of folks suggest the Fed is "not restrictive". Based on the level of assets or the some cherry picked recent rally in assets. They may be right but its also true that if you bought a standard 60/40...
CPI’s OER Weight Masks Inflation; PCE Shows Hotter Price Pressure
This is not inflationary....Lots of conflicting data on inflation now.... Does CPI come in below expectations on the OER weighting while PCE comes in hot? CPI — Owner's Equivalent Rent (OER) is the single largest component, carrying a weight of roughly 26–27%...
Early Signals About Retail Sales : An Advance Data Release From the Chicago Fed
The Chicago Federal Reserve has released its Advance Retail Trade Summary (CARTS) data on the FRED platform, offering weekly estimates of U.S. retail and food‑service sales that exclude motor vehicles and parts. Between April 2025 and March 2026, CARTS’ benchmarked weekly averages...
Recession Fears Dispelled: Jobs, Manufacturing Surge, Markets Soar
FEAR WAS WRONG. THE DATA JUST PROVED IT. Everyone was screaming recession… but something weird just happened. The jobs numbers came in strong. Manufacturing surged. US, UK, China & Australia all beat expectations. $SPX just hit fresh record highs 🚨 The fear was loud....
Jobless Claims Confirm US Labor Market Resilience
Weekly jobless claims are perhaps the best real-time pulse check on US jobs, and this morning, they’re signaling a continued resilient labor market. (Bloomberg headline below.) #economy #jobs #employment #markets
New York Fed President Williams Worries War Will Slow Growth, Aggravate Inflation
New York Fed President John Williams warned that the ongoing Iran war is already nudging U.S. prices higher while dampening economic growth. He highlighted rising energy costs and broader supply‑chain pressures that could trigger a stagflation‑like environment. Williams reaffirmed the Fed’s...
Initial Jobless Claims Fall 11,000 to 207,000
"In the week ending April 11, the advance figure for seasonally adjusted initial claims was 207,000, a decrease of 11,000 from the previous week's revised level."
US Initial Jobless Claims 207K vs 215K Expected
U.S. initial unemployment claims dropped to 207,000, comfortably beating the 215,000 forecast and marking a decline from last week’s revised 218,000. The four‑week moving average steadied at 209.75 K, signaling a still‑tight labor market despite seasonal noise. Continuing claims rose modestly...
US April Philly Fed Business Index +26.7 vs +10.0 Expected
The Philadelphia Fed’s March manufacturing survey posted a robust index of +26.7, far outpacing the +10.0 forecast. New orders surged to 33.0 and shipments rose to 34.0, marking the strongest activity in months. However, the employment component slipped into negative...
Fed's Rate‑Cut Dilemma: Weak Economy vs Rising Inflation
Normally a weaker economy might lead the Fed to cut rates. But if inflation is also rising, rate cuts risk adding fuel to the price problem. Two goals, one instrument, lousy trade-off.
Diesel Prices Surge 60% Year‑Over‑Year
Diesal prices are up almost 60% from a year ago https://t.co/BZjCIh8l7U Too bad Trump can't find out about this.
Treasury Secretary Bessent Forecasts 3%‑plus US Growth Amid Inflation Concerns
Treasury Secretary Scott Bessent told a Washington audience that the U.S. economy remains strong enough to grow beyond 3% in 2026, despite higher oil prices and global inflation risks. His upbeat outlook clashes with recent IMF downgrades and rising energy...
Tax Complexity Costs Billions, Not Treasury Revenue
My new Capitolism @TheDispatch - and the debut of the NEW Dispatch Markets vertical - is a deep dive on the ever-growing scourge of US tax complexity: "Americans Paid Billions this Tax Day—But Not to the Treasury" https://t.co/63iDhmrmYH https://t.co/mUdi5gLRvB
Trump's Fed Influence Could've Cut Rates by 100bps
If Trump had been able to pack the Fed, rates would have been 100bp lower going into this price shock.
125 Months Sub‑5% Unemployment Marks Potential Record Expansion
If you take out the pandemic data (it was a fake recession) the unemployment rate has been sub-5% for 125 months Is this the longest economic expansion in history? Why has everyone been so wrong about this cycle? https://t.co/jcHreRBsjB https://t.co/aJhhsPzsZB
U.S. Home Prices Continue Steady Gains, Up 0.6% MoM
U.S. home prices, as measured by the Zillow Home Value Index, rose +0.6% month-over-month between the February 2026 and March 2026 Year-over-year: +0.8% Since 2022's peak: +2.2% Since March 2020: +44.1% Table via @ResidentialClub https://t.co/HanulIqzx2
Strong Fundamentals Keep Equities Resilient Amid Mid‑cycle Economy
The saving grace for equities are strong fundamentals with a US economy firmly in mid-cycle, earnings estimates growing at double digits, and valuations not out of whack against metrics such as credit spreads and operating margins. https://t.co/YcF7Fv550i
US Consumer Debt Delinquency Hits 9‑Year High
JUST IN: US consumer debt in delinquency rises to 4.8%, the highest level in 9 years
Initial Jobless Claims Remain Unusually Low Recently
Interesting chart. Just going based on the last few years, initial jobless claims are unusually subdued https://t.co/3oUeLlzLaW
Corporate Profits Outpace Growth, Workers' Share Plummets
"US corporate profits have been growing faster than the domestic economy since the year 2000. The relationship between the two sits at/near record highs:" @DataTrekMB Meanwhile, "American workers’ share of economic activity has been declining rapidly over the same timeframe"...
Jobless Claims Beat Forecasts, Layoffs Remain Stalled
Still nothing doing on the layoff front *US JOBLESS CLAIMS 207,000 IN APRIL 11 WEEK; EST. 213K
Consumer Debt Delinquency Spikes as Job Growth Revision
Follow the $$$: “HH delinquency worsened in Q4 2025, w/4.8% of debt in delinquency…BLS benchmark revisions showed 2025 payroll growth revised from 584k to 181k…combination matters…consumer more leveraged & labor market was softer in real time than first draft data suggested.”
Fed Leadership Uncertain After Trump's Threat to Fire Powell
If no chair is confirmed by May 15, who leads the Fed? The Fed and the White House seem to have very different answers—a suddenly live dispute after Trump’s latest threat to fire Powell. It’s a question that a 28-year-old John Roberts...
Trump Seeks to Turn Fed Win Into Prolonged Defeat
President Trump seems to be trying to find a way to turn an easy win on the Fed into a long slog of a loss. My latest column: https://t.co/K1glC171IN