Oil prices are up, gas prices are rising, and the economic impact of conflict in Iran could reach $210 billion.
@alexsjacquez.bsky.social told @the-independent.com that markets may be overlooking the risk of a prolonged war — lasting energy price spikes that squeeze families across the economy.
Two polls. One story: families are going into debt just to get by.
Our polling with @borrowerjustice.bsky.social shows Americans are increasingly relying on credit cards and Buy Now, Pay Later loans to cover essentials like groceries, rent, utilities, and medical care.
The deterioration in the labor market is visible from space.
Jobs are down, gas prices are up, and America’s working class continues to pay the price.
groundworkcollaborative.org/news/labor-m...
Working families are resorting to scrapping metal and selling clothes to make ends meet.
The Federal Reserve’s report should serve as a major red flag for the White House that Trump’s economy is flailing.
🔗: groundworkcollaborative.org/news/februar...
@newsweek.com with the scoop 👇
A 10% credit card interest rate cap is popular. But voters are skeptical it will actually happen.
“If a credit card cap were a priority for the Trump admin, it should have been signed into law months ago,” as our Emily DiVito pointed out.
Gas prices jumped $0.11 overnight. Crude oil is ~$85 a barrel.
As @alexsjacquez.bsky.social told @nytimes.com: if this conflict drags on, consumers could face higher costs in “nearly every sector of the economy.”
This isn’t just about what you pay for gas. It's groceries, airfare, & heating bills.
The gym is today’s economy in miniature, highlighting a widening divide b/w higher-income households & more price-sensitive consumers who are showing signs of financial strain.
In a K-shaped economy, corporations adapt to serve the wealthy — while working families are left stretching every dollar.
We took a look at how “skimpflation” pads corporations’ profits while increasing prices for consumers back in 2024.
We found corporate profits drove 53% of inflation during the second and third quarters of 2023.
Make sure to check out our full report 👇
Our @lindsayowens.bsky.social told @planetmoney.bsky.social that this is not only a popular tactic to deal with rising costs while maintaining or increasing profitability, it’s one that has real health implications.
A Willy Wonka whistleblower called out Reese’s for swapping the real milk chocolate and peanut butter in their iconic sweet treats for lower quality ingredients.
We call it “skimpflation.” ⤵️
Over the past 20 years, time spent on customer service calls has risen 60%.
Meanwhile, enforcement against bad actors has been “virtually nonexistent,” as Chad Maisel told @usatoday.com.
Some of life’s hassles are costing you big time! We quantified just how much every year:
🗑️ $90B in junk fees
📄 $21.6B in insurance paperwork
📱 $25B lost to phone scams
Your time is valuable. Corporations just found a way to monetize it.
Oil prices are rising after the attacks on Iran & if the conflict drags on, we could see oil spike past $100 a barrel.
As @alexsjacquez.bsky.social tells @apnews.com, Americans already feel like Trump isn’t focused on what they care about most: the price of groceries & everyday essentials.
Trump says we’re in “the Golden Age of America.”
As @alexsjacquez.bsky.social points out, “People don't believe it. They don't feel it in their lived experience. They still feel that their prices are too high.”
Amazon may be rigging the game against you by blocking sellers from offering you a deal. That means you could end up paying more on Amazon — even if the seller would gladly charge you less somewhere else.
In other words: a lower price could exist. Amazon is just making sure you aren’t offered it.
Trump has failed to deliver on his economic promises, and he’s made health care even **more** expensive.
“I think the question is whether the actual policies put forward are having the outcomes that they intend here,” says @alexsjacquez.bsky.social.
“The business of sports is starting to really suck the fun out of it for all of us fans,” @lindsayowens.bsky.social tells @ksatnews.bsky.social.
The cost for a San Antonio family of 4 to attend the Houston World Cup Match would run them the equivalent of ~6 months of health insurance premiums.
🧾Tariffs acting as another tax on essentials
💡 Electricity bills soaring
📈 Health care costs spiking
💸 Household debt rising but Wages remain stagnant
“There are a lot of things going on at once and it’s not good,” our Liz Pancotti told @theguardian.com.
@bloomberg.com breaks down **why** Americans are feeling so squeezed & why everything is still (!) so damn expensive.
Groceries, housing, everyday & medical expenses have soared while wages haven’t kept up.
“There’s nothing else I can do. I’m terrified to see my next bill,” says a 67-year old.
Corporate America is in its golden era.
@kedseconomist.com explains why that’s not helping workers 🎥
As @lindsayowens.bsky.social told @yahoofinance.com, the economy used to be Trump’s “superpower.” Now?
Americans oppose Trump’s tariffs ~2-to-1, & a clear majority disapprove of Trump's handling of the economy.
“It’s been really an incredible reversal of fortune for the president & Republicans."
This is “just the tip of the iceberg,” says @nealemahoney.bsky.social.
Read the full report ⤵️
The Annoyance Economy costs $165B a year in wasted time, fees, & resources. And it hits working families especially hard:
Hourly workers “can’t take that hour off to cancel that subscription… they don’t have the time to go back & forth,” @nealemahoney.bsky.social tells @marketplace.org.
@repcasar.bsky.social gets it exactly right 🎯
“Americans already work hard and will continue to. The question we face is whether that labor pays off for workers – with the time off to enjoy it – or if it just makes the very rich even richer.”
The economy might not be in a recession, but Black workers are already feeling the strain.
Full analysis from @centeronbudget.bsky.social ⤵️
🧵: Black workers tend to be concentrated in sectors like the federal government and manufacturing.
But since Trump became president, 277,000 federal jobs are gone. Manufacturing jobs are down too, thanks to his chaotic tariff rollouts.
@alexsjacquez.bsky.social spoke w/ @sarajacobs.house.gov about Trump’s economy.
The labor market has collapsed. Utility prices are up 10%.
“These are the prices that people are mad about that they see every single day. It's why we're seeing some of the worst consumer sentiment we’ve ever tracked.”
I took some time at home after my son’s birth.
It was the most meaningful time of my life.
I was lucky. But this shouldn’t be a matter of luck.
All Americans should be able to take time — for a new baby, to get better or care for a sick loved one, and to enjoy life.
