Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis

Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, per Goldman Sachs. Americans are defaulting on their credit cards and auto loans at levels not seen since the financial crisis. Increasing numbers of Americans are encountering difficulties in

Costco, $COST, is selling one-ounce gold bars and they are selling out within a few hours

Costco, $COST, is selling one-ounce gold bars and they are selling out within a few hours, per CNBC. Reportedly, they were recently fetching just under $1,900, as per discussions on Reddit. As of Wednesday afternoon, spot gold was trading at $1,876.56 per ounce. Irrespective of the price,

San Francisco Mayor London Breed is proposing new legislation requiring low-income residents to undergo substance abuse screening and treatment in order to receive welfare

San Francisco Mayor London Breed is proposing new legislation requiring low-income residents to undergo substance abuse screening and treatment in order to receive welfare, per NYP. Breed expressed that this move aims to instill accountability in addressing the city's challenges related to drugs and homelessness. “We need to

Gary Gensler says 90% of the SEC staff would be furloughed in a government shutdown

Gary Gensler says 90% of the SEC staff would be furloughed in a government shutdown. Republican U.S. House Speaker Kevin McCarthy dismissed a temporary funding bill making headway in the Senate on Wednesday, bringing Washington perilously close to its fourth partial shutdown of the U.S. government in a

US retailers are closing stores, cutting operating hours and changing product selections in response to an increase in crime

US retailers are closing stores, cutting operating hours and changing product selections in response to an increase in crime, per the National Retail Federation. Yesterday, Target, $TGT, said it will close nine stores across the country after struggling with crime and safety threats at those locations. "We cannot continue

Kevin O’Leary says a coming real estate collapse will lead to ‘chaos’ and banks "are going to fail because up to 40% of their portfolio is in commercial real estate"

Kevin O’Leary says a coming real estate collapse will lead to ‘chaos’ and banks "are going to fail because up to 40% of their portfolio is in commercial real estate," per BI. “Many of these office spaces are in sub-grade markets, but even in cities like Boston,

Gen Z falls for online scams more than their boomer grandparents do

Gen Z falls for online scams more than their boomer grandparents do, per Vox. According to a recent survey conducted by Deloitte, 5% of baby boomers reported falling prey to online scams. In stark contrast, a notable 16% of Gen Z users, more than three times the rate of the

Women say they would need to earn roughly $237,000 annually to be comfortable and about $502,000 a year to feel rich

Women say they would need to earn roughly $237,000 annually to be comfortable and about $502,000 a year to feel rich, per Bankrate. This is nearly $37,000, or 8%, more than men, per BankRate. 67% of those making $50,000 to $100,000 are living paycheck to

OpenAI says ChatGPT can now browse the internet

OpenAI says ChatGPT can now browse the internet. It said: ChatGPT can now browse the internet to provide you with current and authoritative information, complete with direct links to sources. It is no longer limited to data before September 2021. It added: Since the original launch of browsing in May,

American taxpayers are paying the salaries of Ukraine's first responders, all 57,000 of them

American taxpayers are paying the salaries of Ukraine's first responders, all 57,000 of them, per CBS. As the conflict in Ukraine approaches its third year, the United States has offered extensive aid, exceeding $70 billion in total. This financial support isn't limited solely to military

Target, $TGT, said it will close nine stores across the country after struggling with crime and safety threats at those locations

Target, $TGT, said it will close nine stores across the country after struggling with crime and safety threats at those locations. "We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance,"

Ticket resellers who passed $600 in ticket sales on marketplaces such as StubHub and Ticketmaster now need to report their activity to the IRS

Ticket resellers who passed $600 in ticket sales on marketplaces such as StubHub and Ticketmaster now need to report their activity to the IRS. Ticket platforms will now have the responsibility of reporting sellers' earnings to the IRS if their ticket sales in 2023 exceed $600. This marks a

Costco, $COST, members will be eligible for online primary care visits for $29 and mental health visits for $79

Costco, $COST, members will be eligible for online primary care visits for $29 and mental health visits for $79. The company, headquartered in New York, has clarified that its platform does not accept health insurance primarily because it caters to two main groups: uninsured Americans and those with high-deductible plans

Mortgage affordability in the US is at an all time low

Mortgage affordability in the US is at an all time low, per Bloomberg. A recent surge in U.S. mortgage rates has led to the lowest level of affordability in nearly four decades, leaving prospective homebuyers facing a risky dilemma as they await potential relief. The past year had offered

Credit card losses are rising at the fastest pace since the Great Financial Crisis

Credit card losses are rising at the fastest pace since the Great Financial Crisis, per CNBC. Losses in the credit card sector reached their lowest point in September 2021, and while initial increases likely resulted from the cessation of stimulus measures, they have been steadily climbing since the first quarter

Home prices in the US will fall 30%, per Jeremy Grantham

Home prices in the US will fall 30%, per Jeremy Grantham. This was on a podcast, per BI. "Forty years of lower and lower interest rates push asset prices up, particularly housing through the mortgage mechanism. How can it not? If you can afford to pay more for your

Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began

Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, per Bloomberg. For the bottom 80% of households by income, bank deposits and other liquid assets were lower in June this year

Baby boomers are becoming homeless at a rate ‘not seen since the Great Depression'

Baby boomers are becoming homeless at a rate ‘not seen since the Great Depression,' per Moneywise. Numerous individuals from the baby boomer generation across the nation are confronting a stark reality: dedicating one's entire adult life to work no longer guarantees a secure roof overhead during their

The FTC has sued Amazon, $AMZN, claiming it wields monopoly power and stunts competition

The FTC has sued Amazon, $AMZN, claiming it wields monopoly power and stunts competition. The lawsuit, which was joined by 17 state attorneys general, follows a four-year investigation and federal lawsuits filed against Alphabet's Google and Meta Platforms' Facebook. "The FTC and its state partners say

Reddit will start paying real money for posts, where eligible users will be able to convert their Reddit gold and karma into fiat currency

Reddit will start paying real money for posts, where eligible users will be able to convert their Reddit gold and karma into fiat currency. So far, the Reddit contributor program is limited to users in the United States (to start, at least) who are over the age of 18 and

The SEC has collected thousands of staff messages used on private devices from more than a dozen major investment companies

The SEC has collected thousands of staff messages used on private devices from more than a dozen major investment companies, including Carlyle, Apollo, KKR, TPG, Blackstone and Citadel, per Reuters. The regulatory body is currently examining discussions related to work transmitted via personal devices or applications by employees at firms

Justin Trudeau of Canada has said, per NYT: It really sucks right now. Like, everything sucks for people, even in Canada. We’re supposed to be polite & nice, but, man, people are mad.

Justin Trudeau of Canada has said, per NYT: It really sucks right now. Like, everything sucks for people, even in Canada. We’re supposed to be polite & nice, but, man, people are mad. People are mad at governments because things aren’t going all that well & people are

10% of home sales in the US are driven by employees who are forced to end remote work

10% of home sales in the US are driven by employees who are forced to end remote work, per Redfin. Meanwhile, mortgage rates on average 30-year mortgage in the US hit 7.39%, the highest since 2000, per Mortgage News Daily. Meanwhile, the American dream of owning a home is

67% of those making $50,000 to $100,000 are living paycheck to paycheck

67% of those making $50,000 to $100,000 are living paycheck to paycheck, per Bankrate. A third of Americans earning $150,000 a year or more say they're living paycheck to paycheck and many rely on credit cards to close the gap, per Moneywise. The use of

Americans filed more than 39,000 bankruptcy cases in August, an 18% increase from the same point last year

Americans filed more than 39,000 bankruptcy cases in August, an 18% increase from the same point last year. The month of August witnessed a consistent rise in consumer bankruptcies, highlighting the increasing financial distress faced by many individuals. Recent data from Epiq Bankruptcy, a firm specializing in bankruptcy data