[{"id":"FgqEIDZX","title":"What We Can Learn From A Woman Who Lived On A Supermarket Roof For A Year","summary":"This anecdote highlights a critical nationwide problem.","_updatedAt":"2024-05-12T22:26:31Z","image":{"attribution":"YouTube screenshot/NBC News","asset":{"_updatedAt":"2024-05-12T22:24:59Z","originalFilename":"Screenshot 2024-05-12 at 6.24.32 PM.png","extension":"png","metadata":{"hasAlpha":true,"lqip":"data:image/png;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":2686,"aspectRatio":1.9866863905325445,"height":1352},"isOpaque":true,"blurHash":"MhO|CJWB%gaLn%~qt7xujabHIpogRPfkRj","_type":"sanity.imageMetadata","palette":{"darkVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0,"background":"#592a34"},"lightMuted":{"population":5.32,"background":"#ccbead","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"vibrant":{"foreground":"#fff","title":"#fff","population":3.12,"background":"#aa5163","_type":"sanity.imagePaletteSwatch"},"dominant":{"background":"#ccbead","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":5.32},"_type":"sanity.imagePalette","darkMuted":{"background":"#67313c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0},"muted":{"foreground":"#fff","title":"#fff","population":4.28,"background":"#9f787c","_type":"sanity.imagePaletteSwatch"},"lightVibrant":{"title":"#000","population":0,"background":"#fcc4dc","_type":"sanity.imagePaletteSwatch","foreground":"#000"}}},"sha1hash":"98a1e66db4a0e031361c7ce17464de240876b1d4","path":"images/8mioycse/v3/98a1e66db4a0e031361c7ce17464de240876b1d4-2686x1352.png","size":2047784,"_rev":"4iC5ZsZNZdYNHyHsi8oWRu","mimeType":"image/png","_id":"image-98a1e66db4a0e031361c7ce17464de240876b1d4-2686x1352-png","assetId":"98a1e66db4a0e031361c7ce17464de240876b1d4","_createdAt":"2024-05-12T22:24:59Z","uploadId":"otjevW5Dk6Fhs6QpGbdhRAO6lkQm532X","_type":"sanity.imageAsset","url":"https://cdn.sanity.io/images/8mioycse/v3/98a1e66db4a0e031361c7ce17464de240876b1d4-2686x1352.png"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.9280821917808219,"x":0.5},"_type":"image"},"_rev":"4iC5ZsZNZdYNHyHsi8oaCA","_type":"story","body":[{"style":"normal","_key":"2012c1344c56","markDefs":[{"_type":"link","href":"https://www.nytimes.com/2024/05/11/us/family-fare-michigan-woman-sign.html","_key":"d5e26f1e1150"}],"children":[{"_type":"span","marks":[],"text":"Times are tough for millions of Americans and many millions more living in nations around the world. Making matters worse in a growing number of communities is a lack of affordable housing, which has ","_key":"a4085ee0936d0"},{"_type":"span","marks":["d5e26f1e1150"],"text":"forced","_key":"a4085ee0936d1"},{"_type":"span","marks":[],"text":" too many individuals to make some very tough choices.","_key":"a4085ee0936d2"}],"_type":"block"},{"_key":"23b638ecafd9","markDefs":[],"children":[{"_type":"span","marks":[],"text":"That brings us to the case of a 34-year-old Michigan woman.","_key":"8f04be404b940"}],"_type":"block","style":"normal"},{"style":"normal","_key":"ffebb51e085b","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Show me a sign","_key":"e17b72b3b7810"}],"_type":"block"},{"_key":"55453e72cc04","markDefs":[],"children":[{"_type":"span","marks":[],"text":"According to police in Midland, the woman was recently found by contractors working at the Family Fare grocery store after she had been living inside its rooftop sign for months.","_key":"793d1becd4ce0"}],"_type":"block","style":"normal"},{"_key":"97943cafa6e6","markDefs":[],"children":[{"marks":[],"text":"“I personally have ","_key":"1a79a00e282e0","_type":"span"},{"_type":"span","marks":["strong"],"text":"never encountered a situation like this","_key":"426ca1b982ee"},{"_type":"span","marks":[],"text":", and neither have my colleagues,” explained Officer Brennon Warren.","_key":"ba16a8796519"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Here’s what we know about the makeshift shelter she created in the triangular sign:","_key":"f574f6053e920"}],"_type":"block","style":"normal","_key":"f9ea09269e5a"},{"children":[{"_type":"span","marks":[],"text":"The area was less than ","_key":"e2c8ee166a1b0"},{"marks":["strong"],"text":"15 feet long, about five feet wide, and eight feet tall ","_key":"72ab3319dd6d","_type":"span"},{"text":"at its apex.","_key":"f1ee35da247c","_type":"span","marks":[]}],"level":1,"_type":"block","style":"normal","_key":"f8c4ddefcdb9","listItem":"bullet","markDefs":[]},{"style":"normal","_key":"a11891cd6e40","listItem":"bullet","markDefs":[],"children":[{"text":"She took steps to make the place habitable, including with","_key":"8958c305db2c0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" bedding and a floor","_key":"3800c6ebab06"},{"marks":[],"text":".","_key":"6b1f197b977f","_type":"span"}],"level":1,"_type":"block"},{"level":1,"_type":"block","style":"normal","_key":"5f3e5b8357cc","listItem":"bullet","markDefs":[],"children":[{"text":"Police also found a ","_key":"94dd1a82ea6f0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"coffee maker, computer, desk, and printer ","_key":"eea54d80a3c6"},{"_type":"span","marks":[],"text":"in the small space.","_key":"cdb7661a8a9c"}]},{"children":[{"_type":"span","marks":[],"text":"It was unclear how she gained access to the location, but authorities say she successfully evaded detection for about a year.","_key":"60225db8ea6e0"}],"_type":"block","style":"normal","_key":"5972d2bfac34","markDefs":[]},{"style":"normal","_key":"e17004d6ab84","markDefs":[],"children":[{"marks":["strong"],"text":"A broader problem","_key":"d6eff073cbcc0","_type":"span"}],"_type":"block"},{"_type":"block","style":"normal","_key":"b3c89a747a81","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Upon being confronted by police, the woman reportedly acknowledged that she shouldn’t have been living there and agreed to leave. As of the latest updates available, she was","_key":"3c0c6cd8ce2f0"},{"_type":"span","marks":["strong"],"text":" not facing any criminal charges","_key":"b3c279e0bebd"},{"_type":"span","marks":[],"text":".","_key":"20ece2d15115"}]},{"markDefs":[],"children":[{"_key":"45d85f8936660","_type":"span","marks":[],"text":"Family Fare staff said they’d ensure that she received all of her property."}],"_type":"block","style":"normal","_key":"7d0001c70aba"},{"_key":"9cd29816ca27","markDefs":[],"children":[{"_type":"span","marks":[],"text":"But this case is just one example of the many individuals struggling to find long-term housing in the area and beyond. Saralyn Temple, who runs a local shelter and soup kitchen, said she has seen","_key":"813b871381f90"},{"_type":"span","marks":["strong"],"text":" a significant increase","_key":"ebc8b5d0273e"},{"_type":"span","marks":[],"text":" in demand. After welcoming about 40 people daily last year, she said: “Now we’re seeing in the 50s every day for lunch.”","_key":"d4aef2464579"}],"_type":"block","style":"normal"}],"slug":"/story/2024/05/what-we-can-learn-from-a-woman-who-lived-on-a-supermarket-roof-for-a-year","publishDate":"2024-05-13","author":{"_ref":"phCNL32Gn","_type":"reference"},"category":"economy","_id":"ff8b5864-a872-4079-aa81-608755b5ebc5","visibility":"true","_createdAt":"2024-05-12T22:26:31Z"},{"_createdAt":"2024-05-07T23:39:14Z","author":{"_ref":"phCNL32Gn","_type":"reference"},"visibility":"true","publishDate":"2024-05-08","body":[{"_key":"b54bc482fdc4","markDefs":[],"children":[{"_type":"span","marks":[],"text":"There’s been a growing call among some elected officials and business leaders for a shift toward so-called “universal basic income,” which at a fundamental level simply refers to providing all applicable individuals with","_key":"646dfb4450a40"},{"_type":"span","marks":["strong"],"text":" a set amount of money","_key":"4d0e82d4e866"},{"_key":"54a209f34a43","_type":"span","marks":[],"text":" regardless of employment or other factors."}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"635843c3168f","markDefs":[{"href":"https://www.yahoo.com/tech/google-co-funding-guaranteed-basic-122625604.html","_key":"3427f18e2baa","_type":"link"}],"children":[{"marks":[],"text":"Now, an influential tech company is putting some ","_key":"ac3a811dab0d0","_type":"span"},{"text":"money","_key":"ac3a811dab0d1","_type":"span","marks":["3427f18e2baa"]},{"_type":"span","marks":[],"text":" where its corporate mouth is.","_key":"ac3a811dab0d2"}]},{"_type":"block","style":"normal","_key":"9889a1dc6f9e","markDefs":[],"children":[{"marks":["strong"],"text":"Details of the plan","_key":"98d8a949b27f0","_type":"span"}]},{"style":"normal","_key":"63f7b64ab1db","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Although still in its infancy, recent reports laid out some of the basics included in Google’s plan, which include:","_key":"b38198cd3b260"}],"_type":"block"},{"listItem":"bullet","markDefs":[],"children":[{"text":"A total of ","_key":"09284ca830850","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"$2.8 million","_key":"e923ddea3a96"},{"_key":"419af29d515a","_type":"span","marks":[],"text":" in total guaranteed income"}],"level":1,"_type":"block","style":"normal","_key":"328d1486ee87"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"225 families will receive ","_key":"0483f42da43e0"},{"text":"$12,000 per year","_key":"e7aadb3f622d","_type":"span","marks":["strong"]}],"level":1,"_type":"block","style":"normal","_key":"237ff245a44f","listItem":"bullet"},{"style":"normal","_key":"24447b230789","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Another 225 families will get ","_key":"d6c039e31da70"},{"_type":"span","marks":["strong"],"text":"$50 monthly payments","_key":"1c69b4a1cd19"}],"level":1,"_type":"block"},{"children":[{"_type":"span","marks":[],"text":"70% include a ","_key":"4841135127850"},{"_key":"8c59d27ac336","_type":"span","marks":["strong"],"text":"single mother "},{"_type":"span","marks":[],"text":"and children under 5","_key":"277278ce3a1c"}],"level":1,"_type":"block","style":"normal","_key":"199681f02e59","listItem":"bullet","markDefs":[]},{"_type":"block","style":"normal","_key":"92f710b841af","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As it stands, the individuals set to benefit from this program are all living in the Bay Area of California and have been identified as in danger of slipping into homelessness. The root goal of Google’s program is to gauge ","_key":"f3a6d13f03350"},{"_type":"span","marks":["strong"],"text":"how effective UBI is","_key":"91419e346b6a"},{"text":" at helping those most at risk to secure adequate housing.","_key":"4875dd9b3c64","_type":"span","marks":[]}]},{"_type":"block","style":"normal","_key":"59caa003925b","markDefs":[],"children":[{"_key":"2817c2510cd60","_type":"span","marks":[],"text":"There have been a number of other efforts to implement such guaranteed income on a trial basis, but with Google’s deep pockets and a partnership with an MIT research center, this could have a better chance than most at propelling the idea forward."}]},{"markDefs":[],"children":[{"_key":"67a69511d4d80","_type":"span","marks":["strong"],"text":"Part of a bigger vision"}],"_type":"block","style":"normal","_key":"9ef03d3528d8"},{"style":"normal","_key":"a6d5c27b8b39","markDefs":[],"children":[{"_type":"span","marks":[],"text":"This aspect of Google’s outreach is focused specifically on those believed to be within months of losing pivotal housing assistance, but it’s just one facet in a broader mission to tackle homelessness around San Francisco.","_key":"02e3c0dd772d0"}],"_type":"block"},{"markDefs":[],"children":[{"_key":"ff3a95b7ba7d0","_type":"span","marks":[],"text":"In total, the Big Tech titan has vowed to distribute "},{"text":"$1 billion to aid ","_key":"63656bbe895b","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":" to those struggling to find long-term housing. Google’s parent company, Alphabet, has seen its value soar in recent months as revenue spiked by a whopping 15% during the first quarter of 2024.","_key":"f70e802a018a"}],"_type":"block","style":"normal","_key":"b292a42cf1c9"}],"image":{"attribution":"Giphy","asset":{"_updatedAt":"2024-05-08T03:39:37Z","_type":"sanity.imageAsset","sha1hash":"8c11ec39da0dee65d995532746f5d946905862fa","url":"https://cdn.sanity.io/images/8mioycse/v3/8c11ec39da0dee65d995532746f5d946905862fa-480x269.gif","size":1747762,"metadata":{"_type":"sanity.imageMetadata","palette":{"_type":"sanity.imagePalette","darkMuted":{"background":"#3c8a3c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.32},"muted":{"background":"#4ca24f","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":3.6},"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":0.57,"background":"#acfab0"},"darkVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.54,"background":"#286f13"},"lightMuted":{"foreground":"#000","title":"#fff","population":0.02,"background":"#7cc47f","_type":"sanity.imagePaletteSwatch"},"vibrant":{"population":4.9,"background":"#59a43b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"dominant":{"background":"#59a43b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.9}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAALABQDASIAAhEBAxEB/8QAGAAAAgMAAAAAAAAAAAAAAAAAAAUCAwT/xAAgEAACAgEEAwEAAAAAAAAAAAACAwERAAQSITEFI0FS/8QAFgEBAQEAAAAAAAAAAAAAAAAABgAB/8QAGhEAAgIDAAAAAAAAAAAAAAAAABEBEiEiMf/aAAwDAQACEQMRAD8ASpWCW7zGCr6U5qFC2vEmbZA/zxtxjq0rhSqAer6yOqmlDEVFx8jDTXQ43kXs8O2TKUu9d8c4ZclrBChKYi8Mrwbsf//Z","dimensions":{"aspectRatio":1.7843866171003717,"height":269,"_type":"sanity.imageDimensions","width":480},"isOpaque":true,"blurHash":"M390utQoMMpFpG8#V@ZkZ*QoMM*HQ;V_pG"},"assetId":"8c11ec39da0dee65d995532746f5d946905862fa","_createdAt":"2024-05-08T03:39:37Z","_id":"image-8c11ec39da0dee65d995532746f5d946905862fa-480x269-gif","_rev":"wB0WK8lj43kJgbaPQHPwdN","originalFilename":"ezgif-4-7ee4e4d5d3.gif","extension":"gif","uploadId":"PwxK7tdu619c4OYgNlJWftx7QelfNMKd","mimeType":"image/gif","path":"images/8mioycse/v3/8c11ec39da0dee65d995532746f5d946905862fa-480x269.gif"},"_type":"image"},"_rev":"wB0WK8lj43kJgbaPQHPwrJ","_type":"story","_updatedAt":"2024-05-08T03:39:41Z","summary":"It's part of a $1 billion commitment the California-based company has made.","_id":"930e5185-01a3-4d22-91d7-d8a1982bb3ad","slug":"/story/2024/05/google-announces-a-major-step-in-its-push-for-universal-basic-income","id":"gy1snkS7","category":"economy","title":"Google Announces A Major Step In Its Push For Universal Basic Income"},{"_type":"story","_createdAt":"2024-05-06T23:23:13Z","slug":"/story/2024/05/the-us-government-is-paying-some-eyepopping-interest-on-its-massive-debt","summary":"It's gotten a lot worse in the era of elevated rates.","body":[{"_type":"block","style":"normal","_key":"cbcc73fcd0b3","markDefs":[],"children":[{"_type":"span","marks":[],"text":"For ordinary working-class Americans, receiving $2 million would be a life-changing windfall. But that’s how much the federal government paid","_key":"6f3ba08b59ab0"},{"_type":"span","marks":["strong"],"text":" every 60 seconds ","_key":"59985ddf9645"},{"_type":"span","marks":[],"text":"last month just to maintain the interest on its debt!","_key":"1b8d6b166b83"}]},{"markDefs":[{"_type":"link","href":"https://markets.businessinsider.com/news/bonds/us-government-interest-payments-soar-2-million-per-minute-rates-2024-5","_key":"0958bd9593bc"}],"children":[{"_type":"span","marks":[],"text":"And with interest rates remaining high, we can only ","_key":"2c2aa73029fa0"},{"_type":"span","marks":["0958bd9593bc"],"text":"expect","_key":"2c2aa73029fa1"},{"text":" these staggering interest payments to continue.","_key":"2c2aa73029fa2","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"f1ac7416b290"},{"style":"normal","_key":"e2730ac89308","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"How we got here","_key":"99c20378b7250"}],"_type":"block"},{"_key":"f9554dcdb280","markDefs":[],"children":[{"_type":"span","marks":[],"text":"There’s plenty of blame to go around, but the fact is that the U.S. government is currently in debt","_key":"dddf7855c0000"},{"marks":["strong"],"text":" to the tune of $34 trillion","_key":"ebdd15f115e0","_type":"span"},{"_type":"span","marks":[],"text":". That’s an absurdly high number that is constantly accruing interest.","_key":"a3e14686dff9"}],"_type":"block","style":"normal"},{"_key":"8ca0ad2ba5e4","markDefs":[],"children":[{"_type":"span","marks":[],"text":"In March, the Treasury Department paid","_key":"ec9673fcd1d20"},{"_type":"span","marks":["strong"],"text":" $89 billion in interest alone","_key":"d75bfef4dece"},{"_type":"span","marks":[],"text":", which did nothing to reduce the overall debt. Essentially, all the taxes you and everyone you know will ever pay in your entire lives won’t put a dent in the amount it takes just to make interest payments on the debt for even a few minutes.","_key":"639bc75bbd11"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Annual interest payments are ","_key":"b9ae76c9df610"},{"_key":"d62659d33419","_type":"span","marks":["strong"],"text":"expected to top $1 trillion"},{"marks":[],"text":" this year for the first time, representing a sum nearly twice as high as before central bankers raised rates in response to inflation.","_key":"f63e04c8e633","_type":"span"}],"_type":"block","style":"normal","_key":"ea958c013e8a"},{"_type":"block","style":"normal","_key":"80c0c3d3b860","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Where we go next","_key":"90fd731b84be0"}]},{"_key":"35ec420b9cdb","markDefs":[],"children":[{"_type":"span","marks":[],"text":"In many ways, the damage seems to already be done. Arguments can be made about how the government can","_key":"6d904ef08ed30"},{"_type":"span","marks":["strong"],"text":" cut spending and/or raise taxes","_key":"10bdabc0b99e"},{"_type":"span","marks":[],"text":", but this whopping debt load isn’t going anywhere.","_key":"8078d90f5844"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"marks":[],"text":"And while investors in the bond market are benefiting from the 10-year Treasury yields that have risen alongside interest rates, most of the country is anxious for rate cuts. Although it seems counterintuitive, JPMorgan strategist Jack Manley says lowering rates could help bring consumer costs down.","_key":"dbfdca2045be0","_type":"span"}],"_type":"block","style":"normal","_key":"f09e1ddf05ef"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"“You’re not going to see","_key":"3259acd9e36a0"},{"_key":"29ef60913918","_type":"span","marks":["strong"],"text":" meaningful downward pressure"},{"_type":"span","marks":[],"text":" on inflation until you see meaningful downward pressure on shelter costs,” he said. “And you’re not going to see meaningful downward pressure on shelter costs until the Fed lowers interest rates.”","_key":"53451f9b4144"}],"_type":"block","style":"normal","_key":"a430772b449a"}],"image":{"asset":{"url":"https://cdn.sanity.io/images/8mioycse/v3/aaed3e9482523df78ed7cdd244b0e31f95f35483-480x278.gif","assetId":"aaed3e9482523df78ed7cdd244b0e31f95f35483","_id":"image-aaed3e9482523df78ed7cdd244b0e31f95f35483-480x278-gif","originalFilename":"46e54882-4513-4dc4-b472-dfc384cd1bf5.gif","_type":"sanity.imageAsset","path":"images/8mioycse/v3/aaed3e9482523df78ed7cdd244b0e31f95f35483-480x278.gif","_createdAt":"2024-05-06T23:21:30Z","_updatedAt":"2024-05-06T23:21:30Z","metadata":{"_type":"sanity.imageMetadata","palette":{"darkVibrant":{"background":"#73181c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":1.57},"lightMuted":{"foreground":"#000","title":"#fff","population":0.69,"background":"#d3bfad","_type":"sanity.imagePaletteSwatch"},"vibrant":{"title":"#fff","population":0,"background":"#b44454","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"dominant":{"background":"#6a4635","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.55},"_type":"sanity.imagePalette","darkMuted":{"background":"#6a4635","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.55},"muted":{"background":"#987260","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":1.95},"lightVibrant":{"foreground":"#000","title":"#fff","population":0.24,"background":"#e5ae96","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7266187050359711,"height":278},"isOpaque":true,"blurHash":"M7DlTZ}[w|?H^4~pOX0fNa?GRhkCxuadxu"},"uploadId":"3ObRZQJhIPGe4R4QJcXK50hwuZ0wdpNr","source":{"name":"Joe Biden GIF by GIPHY News","id":"K0b142kLiZd4GQ6EhH","url":"https://giphy.com/gifs/news-default-debt-ceiling-K0b142kLiZd4GQ6EhH"},"size":4119750,"extension":"gif","_rev":"bCk4A661i0BHrBzQZ4EtfV","mimeType":"image/gif","sha1hash":"aaed3e9482523df78ed7cdd244b0e31f95f35483"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"_type":"sanity.imageHotspot","width":0.9041095890410955,"x":0.5,"y":0.5,"height":1},"_type":"image","attribution":"Giphy"},"_rev":"bCk4A661i0BHrBzQZ4EzAn","_updatedAt":"2024-05-06T23:23:13Z","category":"economy","publishDate":"2024-05-07","title":"The US Government Is Paying Some Eye-Popping Interest On Its Massive Debt","_id":"ae38ee70-9299-49da-a2ea-d8673a476d24","id":"c0vd9brP","author":{"_ref":"phCNL32Gn","_type":"reference"},"visibility":"true"},{"_updatedAt":"2024-04-24T22:02:19Z","body":[{"children":[{"_type":"span","marks":[],"text":"On a basic level, you probably understand what worker productivity is, i.e., a broad measurement of the output generated by the workforce. But unless you’ve got an economics degree, you might not fully realize how integral this","_key":"59772bbf0a780"},{"_type":"span","marks":["strong"],"text":" somewhat nebulous factor","_key":"8b620d4dd64c"},{"_type":"span","marks":[],"text":" is within the larger economic system.","_key":"fc4154f2f5dc"}],"_type":"block","style":"normal","_key":"afb5c6604d96","markDefs":[]},{"markDefs":[{"_type":"link","href":"https://www.axios.com/2024/04/24/labor-market-worker-productivity-fed-economy","_key":"9b7c1751ec47"}],"children":[{"_type":"span","marks":[],"text":"And, despite a year spent fretting over inflation, high interest rates, and a potentially looming recession, 2023 was","_key":"babc3a5ce3fc0"},{"_type":"span","marks":["9b7c1751ec47"],"text":" a good year","_key":"babc3a5ce3fc1"},{"_type":"span","marks":[],"text":" for productivity.","_key":"babc3a5ce3fc2"}],"_type":"block","style":"normal","_key":"80a4ea45b36c"},{"_key":"cf861d12928f","markDefs":[],"children":[{"text":"Cause and effect","_key":"12311860b3800","_type":"span","marks":["strong"]}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"As the jobs market approached pre-pandemic normalcy last year, the stars began to align for an improvement in worker productivity — and sure enough, ","_key":"206658d949420"},{"_type":"span","marks":["strong"],"text":"that’s exactly what experts found","_key":"96b722d9c9dd"},{"_type":"span","marks":[],"text":". There are several ways to boost output, and two of the most prominent appeared to be responsible for the impressive results recorded last year.","_key":"2b4a79b051a8"}],"_type":"block","style":"normal","_key":"a9762d6214f4","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"For starters, a long period of low unemployment has","_key":"534a1351bf650"},{"marks":["strong"],"text":" increased the pressure on employers","_key":"c5f02c7ab5da","_type":"span"},{"_type":"span","marks":[],"text":" to raise wages, but by doing so they’ve had to figure out ways to justify the cost through increased productivity.","_key":"c0b4656fdc67"}],"_type":"block","style":"normal","_key":"3911ca5382fd"},{"_key":"c5c1e41bd548","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The second factor is technology, which has long played a role in increasing productivity but has accelerated tremendously in recent years.","_key":"a15babc36b7f0"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"marks":["strong"],"text":"But will it last?","_key":"ad49d877a6820","_type":"span"}],"_type":"block","style":"normal","_key":"0ddde33b2b02"},{"_type":"block","style":"normal","_key":"486ec7d1d0d1","markDefs":[],"children":[{"_type":"span","marks":[],"text":"There are still some fundamental questions about the health of the U.S. economy, with the inflation rate still stubbornly high and the Federal Reserve unwilling to make a commitment about interest rates. Nevertheless, consultant Rich Lesser explained, ","_key":"34f8cfa96bdd0"},{"_type":"span","marks":["strong"],"text":"both productivity and wages","_key":"0f18b59bcc11"},{"_type":"span","marks":[],"text":" remain high.","_key":"5a679de2320b"}]},{"children":[{"_type":"span","marks":[],"text":"“Right now most companies don’t feel like they have anywhere near the pricing power that they had a year or two ago,” he explained. “And yet ","_key":"d8fc2b3c8f160"},{"_type":"span","marks":["strong"],"text":"wages continue to go up","_key":"04930c3715ad"},{"_type":"span","marks":[],"text":" 3 or 4 percent.”","_key":"40fabb670388"}],"_type":"block","style":"normal","_key":"baa38471fac8","markDefs":[]},{"children":[{"text":"In some cases, as with fast-food chains required to implement $20 minimum hourly wages, productivity comes at the expense of jobs. Many of these businesses have laid off workers in favor of implementing self-service kiosks.","_key":"0fc9c8c7b3450","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"f6134b19c9bb","markDefs":[]}],"category":"economy","publishDate":"2024-04-25","visibility":"true","author":{"_ref":"phCNL32Gn","_type":"reference"},"_id":"64be5910-d40f-40a1-b3d9-8666c2c03dc5","title":"Understanding The Correlation Between Low Unemployment And High Productivity","slug":"/story/2024/04/understanding-the-correlation-between-low-unemployment-and-high-productivity","image":{"asset":{"_type":"sanity.imageAsset","_id":"image-567b4e07d916ab8e14a726e4769ffc8593fa3c85-480x262-gif","originalFilename":"e7c04deb-5a56-4635-9500-eef529a7295d.gif","uploadId":"30FSpPAi8tLPOMzRb8bwRm7JBIo9UC4b","source":{"name":"Barbara Lee California GIF","id":"CeREFhDC1PKk6PKGJj","url":"https://giphy.com/gifs/california-election-2024-primary-CeREFhDC1PKk6PKGJj"},"size":1171354,"assetId":"567b4e07d916ab8e14a726e4769ffc8593fa3c85","_updatedAt":"2024-04-24T22:00:19Z","extension":"gif","mimeType":"image/gif","sha1hash":"567b4e07d916ab8e14a726e4769ffc8593fa3c85","path":"images/8mioycse/v3/567b4e07d916ab8e14a726e4769ffc8593fa3c85-480x262.gif","metadata":{"_type":"sanity.imageMetadata","palette":{"muted":{"title":"#fff","population":8.81,"background":"#a47454","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"background":"#f4ea63","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":5.65},"darkVibrant":{"foreground":"#fff","title":"#fff","population":15.2,"background":"#0454bc","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"background":"#b79282","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":1.53},"vibrant":{"background":"#0454c4","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":17.62},"dominant":{"background":"#0454c4","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":17.62},"_type":"sanity.imagePalette","darkMuted":{"background":"#63462e","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":2.67}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.83206106870229,"height":262},"isOpaque":true,"blurHash":"MUC%Xwoh0ubd$04}WE%Dob$_%YkCV[jXIw"},"_rev":"DpWLjYkwm1nYY081eZwgX5","url":"https://cdn.sanity.io/images/8mioycse/v3/567b4e07d916ab8e14a726e4769ffc8593fa3c85-480x262.gif","_createdAt":"2024-04-24T22:00:19Z"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"_type":"sanity.imageHotspot","width":0.85958904109589,"x":0.4965753424657534,"y":0.5376450904527866,"height":0.9247098190944267},"_type":"image","attribution":"Giphy"},"_rev":"DpWLjYkwm1nYY081eZwqqE","_type":"story","_createdAt":"2024-04-24T22:02:19Z","id":"8n5UjpJ9","summary":"The current economic environment is having a notable ripple effect."},{"_id":"aebeb616-32fa-47ba-84bf-14fc07143c9f","image":{"asset":{"size":1040386,"extension":"gif","_type":"sanity.imageAsset","path":"images/8mioycse/v3/f619e7777c29358d1fb9766534e35c1155301e79-451x254.gif","mimeType":"image/gif","_createdAt":"2024-04-16T03:16:39Z","_updatedAt":"2024-04-16T03:16:39Z","url":"https://cdn.sanity.io/images/8mioycse/v3/f619e7777c29358d1fb9766534e35c1155301e79-451x254.gif","sha1hash":"f619e7777c29358d1fb9766534e35c1155301e79","assetId":"f619e7777c29358d1fb9766534e35c1155301e79","_id":"image-f619e7777c29358d1fb9766534e35c1155301e79-451x254-gif","originalFilename":"ezgif-2-13613ee56d.gif","metadata":{"isOpaque":true,"blurHash":"MREV:F4nNhS7%1x|IWR.xvRj_4M|V?t6oI","_type":"sanity.imageMetadata","palette":{"dominant":{"foreground":"#fff","title":"#fff","population":9.96,"background":"#044bac","_type":"sanity.imagePaletteSwatch"},"_type":"sanity.imagePalette","darkMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":7.76,"background":"#27304c"},"muted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":2.09,"background":"#a9775d"},"lightVibrant":{"background":"#cfdafc","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":0.32},"darkVibrant":{"title":"#fff","population":0.02,"background":"#053ca1","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightMuted":{"title":"#fff","population":0.14,"background":"#b1bfd8","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"foreground":"#fff","title":"#fff","population":9.96,"background":"#044bac","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"aspectRatio":1.7755905511811023,"height":254,"_type":"sanity.imageDimensions","width":451}},"uploadId":"3QrnQXads8vC9QPIA9ljiOR4q3td8sC0","_rev":"5epH8zzXrDlp8uFNp0UEZv"},"_type":"image","attribution":"Giphy"},"_rev":"5epH8zzXrDlp8uFNp0UF0D","slug":"/story/2024/04/its-a-tough-time-for-homebuyers-but-for-others-its-impossible-to-sell","id":"nMkWE8I5","_createdAt":"2024-04-15T23:00:45Z","_updatedAt":"2024-04-16T03:16:48Z","author":{"_ref":"phCNL32Gn","_type":"reference"},"summary":"Mortgage rates are high, which is paralyzing those who locked in low ones.","category":"economy","visibility":"true","_type":"story","body":[{"style":"normal","_key":"75eb3de2c7d3","markDefs":[],"children":[{"text":"Whether you’re in the market for real estate or not, you’ve certainly heard some of the complaints from folks who are shopping around for a home. Mortgage rates are at heights we haven’t seen in a long time and","_key":"d7363db8c24b0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" home values have soared ","_key":"d5142e5aa2f2"},{"_type":"span","marks":[],"text":"in recent years, meaning that the once-ubiquitous aspect of the American dream is slipping out of the grasp of many working-class families.","_key":"09beb903d0ca"}],"_type":"block"},{"style":"normal","_key":"f05e5f5d66dd","markDefs":[{"_type":"link","href":"https://www.nytimes.com/2024/04/15/upshot/mortgage-rates-homes-stuck.html","_key":"6041265834db"}],"children":[{"text":"But there’s another ","_key":"b7f8436386ec0","_type":"span","marks":[]},{"_key":"b7f8436386ec1","_type":"span","marks":["6041265834db"],"text":"side"},{"text":" to this coin. Homeowners with low fixed-rate mortgages say it just doesn’t make sense to sell, even if they want to.","_key":"b7f8436386ec2","_type":"span","marks":[]}],"_type":"block"},{"style":"normal","_key":"70e7db5316b8","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"The pandemic divide","_key":"41b69de5d2e90"}],"_type":"block"},{"_type":"block","style":"normal","_key":"941574dadc6c","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Like many complexities at play in the current economy, COVID-19 is a contributing factor. Stimulus money was flowing freely during the pandemic and ","_key":"20301e5a2f420"},{"text":"rock-bottom mortgage rates","_key":"dea1af3f0490","_type":"span","marks":["strong"]},{"_key":"762988280634","_type":"span","marks":[],"text":" were widely available. Now, many of the people who took advantage of the opportunity to buy are having second thoughts."}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"And data from the Federal Housing Finance Agency has puts the situation in stark focus:","_key":"cff56f663e2a0"}],"_type":"block","style":"normal","_key":"65f943fb7699"},{"style":"normal","_key":"4848114cee75","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Roughly","_key":"822eb045b8250"},{"_type":"span","marks":["strong"],"text":" 1.3 million fewer homes","_key":"349d4d9a23ad"},{"text":" were sold nationwide between spring 2022 and the end of 2023.","_key":"5fd8ef997381","_type":"span","marks":[]}],"level":1,"_type":"block"},{"level":1,"_type":"block","style":"normal","_key":"41b366025ea8","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"About","_key":"e66c83dca0bd0"},{"_type":"span","marks":["strong"],"text":" 70% of mortgage holders","_key":"af82ea2dfec9"},{"_type":"span","marks":[],"text":" had a rate more than 3 points lower than the average current market rate.","_key":"5cfeec1bf303"}]},{"children":[{"_type":"span","marks":[],"text":"At no time between 1998 and 2020 did more than ","_key":"c40a2e27d4830"},{"_key":"7639a8ba90d7","_type":"span","marks":["strong"],"text":"40% of locked-in rates "},{"_key":"b89c8e17a085","_type":"span","marks":[],"text":"undercut the market by more than 1 point."}],"level":1,"_type":"block","style":"normal","_key":"8cb050a9a505","listItem":"bullet","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Inflation complications","_key":"95fca48960410"}],"_type":"block","style":"normal","_key":"5c475da5df18"},{"children":[{"marks":[],"text":"Now that we live in an era of rapidly increasing prices (and rates), those with sub-3% fixed rates are in great shape, at least on paper. It’s an asset that currently translates to roughly $50,000 — ","_key":"4e170396643c0","_type":"span"},{"_key":"21aaae13bb73","_type":"span","marks":["strong"],"text":"or more than $500 a month"},{"_type":"span","marks":[],"text":" — based on current trends.","_key":"85713ae15d49"}],"_type":"block","style":"normal","_key":"619c9c7a5cb9","markDefs":[]},{"markDefs":[],"children":[{"marks":[],"text":"But it’s also trapping those borrowers in homes, jobs, and communities that they might otherwise want to leave.","_key":"45be80382e850","_type":"span"}],"_type":"block","style":"normal","_key":"6b7e3ea72379"},{"style":"normal","_key":"97236e74428d","markDefs":[],"children":[{"_type":"span","marks":[],"text":"So whether buying a home, selling one, or both is on your agenda, you’re not alone if you’re feeling stuck.","_key":"127ff4d0832e0"}],"_type":"block"}],"publishDate":"2024-04-16","title":"It’s A Tough Time For Homebuyers … But For Others, It’s Impossible To Sell"},{"author":{"_ref":"phCNL32Gn","_type":"reference"},"body":[{"_key":"efc193b3339a","markDefs":[],"children":[{"text":"If your last visit to the Golden Arches included an exclamation about how much everything cost, you’re not alone — and it’s definitely not just your imagination.","_key":"bdb168ecf0080","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"_key":"0ebb879593ab","markDefs":[{"_type":"link","href":"https://www.businessinsider.com/mcdonalds-doubled-prices-for-popular-menu-items-since-2014-study-2024-4","_key":"1fc2ceffce04"}],"children":[{"_type":"span","marks":[],"text":"While inflation has sent","_key":"01054b83e2d60"},{"_type":"span","marks":["strong"],"text":" the price of just about everything","_key":"a0bb5d7ae4e7"},{"marks":[],"text":" soaring in recent years, many formerly affordable McDonald’s menu items have been ","_key":"fb4609c9186d","_type":"span"},{"_type":"span","marks":["1fc2ceffce04"],"text":"outpacing","_key":"01054b83e2d61"},{"_key":"01054b83e2d62","_type":"span","marks":[],"text":" the inflation rate by leaps and bounds. Comparing current prices to those from just 10 years ago puts the trend in sharp focus."}],"_type":"block","style":"normal"},{"_key":"2d55dfe80dac","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"The most notable culprits","_key":"56f10088b7260"}],"_type":"block","style":"normal"},{"style":"normal","_key":"a23762635eb9","markDefs":[],"children":[{"marks":[],"text":"According to recent research from FinanceBuzz, McDonald’s saw the steepest price increases of any major fast food chain, with most items outpacing the average 31% inflation rate of the past decade. And a few menu items led the pack, including:","_key":"66635c0cf3a40","_type":"span"}],"_type":"block"},{"children":[{"_type":"span","marks":[],"text":"The McDouble, which","_key":"7a8e394497150"},{"_type":"span","marks":["strong"],"text":" was $1.19 on average","_key":"cce6f9315857"},{"_key":"95ab1daea7f1","_type":"span","marks":[],"text":" in 2014 and $3.19 now"}],"level":1,"_type":"block","style":"normal","_key":"c24c18a52a26","listItem":"bullet","markDefs":[]},{"_key":"0685f40d72e6","listItem":"bullet","markDefs":[],"children":[{"text":"A medium order of fries","_key":"5f58792c5e810","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" increased by 138%","_key":"6e2da3f26c47"},{"text":" from $1.59 to $3.79","_key":"a7628344281e","_type":"span","marks":[]}],"level":1,"_type":"block","style":"normal"},{"level":1,"_type":"block","style":"normal","_key":"a6c2bfcc9381","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"A quarter pounder with cheese meal ","_key":"46e2a359bc3a0"},{"_type":"span","marks":["strong"],"text":"more than doubled ","_key":"fb9117de808d"},{"_key":"e965d7bf4289","_type":"span","marks":[],"text":"to $11.99"}]},{"_key":"9ec3564fbbfb","markDefs":[],"children":[{"_type":"span","marks":[],"text":"While McDonald’s has acknowledged that it is losing value-conscious customers, other fast food joints are","_key":"b81c719f294b0"},{"marks":["strong"],"text":" hoping to capitalize on the situation","_key":"0b732a90c132","_type":"span"},{"text":". Burger King issued a statement affirming that it will “continue to be very thoughtful about making sure our guests receive great value for the money they spend with us.”","_key":"0152b15a4852","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"_key":"282df701408d","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Subway and Starbucks increased prices by a relatively low 39% on average since 2014.","_key":"310e752604d60"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_key":"65c639ff9d8e0","_type":"span","marks":["strong"],"text":"Taking issue with the report"}],"_type":"block","style":"normal","_key":"5553bc85e4c9"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"While FinanceBuzz was clear about the statistics that it used to arrive at its findings, McDonald’s nonetheless thinks the report is an unfair reflection on the brand as a whole.","_key":"6cb808cc79930"}],"_type":"block","style":"normal","_key":"baba30912b97"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"According to a spokesperson, the average prices listed were “","_key":"6e0aaf82bb570"},{"_key":"d2f380a7e8fd","_type":"span","marks":["strong"],"text":"not an accurate representation "},{"_type":"span","marks":[],"text":"of pricing at McDonald’s restaurants,” though there was no specific information provided to refute the report.","_key":"90696a36fd9c"}],"_type":"block","style":"normal","_key":"ad5ace36e360"},{"_type":"block","style":"normal","_key":"392e5167802a","markDefs":[],"children":[{"_key":"3c89f74a12360","_type":"span","marks":[],"text":"The source did, however, stress that “pricing is set by individual franchisees and varies by restaurant.”"}]}],"_createdAt":"2024-04-04T23:37:26Z","category":"economy","visibility":"true","_rev":"Ageu6TTgJ7vZkt7g9Vz4Y9","title":"Your McDonald’s Meal Might Be Nearly 3 Times More Expensive Than It Was In 2014","_type":"story","_id":"71aaf4ed-85e5-4c4d-8b30-80e154814168","summary":"It's not just your imagination.","id":"sUjAn7yM","_updatedAt":"2024-04-05T01:59:38Z","publishDate":"2024-04-05","image":{"_type":"image","attribution":"Giphy","asset":{"mimeType":"image/gif","source":{"name":"Season 2 S02 GIF by DREAM CORP LLC","id":"4JVP2YSZSaq4crXDlq","url":"https://giphy.com/gifs/dreamcorpllc-dcllc-season2-s02-4JVP2YSZSaq4crXDlq"},"path":"images/8mioycse/v3/694d2fdbb83b350a1bd66537de1084a86a0e1f44-480x270.gif","size":1323461,"assetId":"694d2fdbb83b350a1bd66537de1084a86a0e1f44","uploadId":"GvWqNXfavNy0LdpO8pbRPsMQKadaydKz","originalFilename":"6ba7186e-4b61-4534-91c8-156fa0ca0c1b.gif","sha1hash":"694d2fdbb83b350a1bd66537de1084a86a0e1f44","_type":"sanity.imageAsset","_id":"image-694d2fdbb83b350a1bd66537de1084a86a0e1f44-480x270-gif","_updatedAt":"2024-04-05T01:59:34Z","metadata":{"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAALABQDASIAAhEBAxEB/8QAFwABAQEBAAAAAAAAAAAAAAAABAAFB//EACAQAAIBBAMAAwAAAAAAAAAAAAECAAMEBRESISIxUaH/xAAWAQEBAQAAAAAAAAAAAAAAAAACAwT/xAAaEQACAwEBAAAAAAAAAAAAAAAAARESIQJR/9oADAMBAAIRAxEAPwDg2EsVuKnOoWCqPyOy7EUU4MFC+QV66+zDY5mTBh1On38wta4qtb1FZ9gqd9CZplga6tjzwEMgV8uRUI65GUy5S9EOWf/Z","dimensions":{"width":480,"aspectRatio":1.7777777777777777,"height":270,"_type":"sanity.imageDimensions"},"isOpaque":true,"blurHash":"M15#zu%w00DSOp:u4;Kwb_^M_+H@HAYiix","_type":"sanity.imageMetadata","palette":{"darkVibrant":{"population":7.76,"background":"#1a6346","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0,"background":"#1f7955"},"vibrant":{"foreground":"#000","title":"#fff","population":0,"background":"#35c98e","_type":"sanity.imagePaletteSwatch"},"dominant":{"population":7.76,"background":"#1a6346","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":5.73,"background":"#64532f","_type":"sanity.imagePaletteSwatch"},"muted":{"background":"#ac9457","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":2.71},"lightVibrant":{"title":"#000","population":0,"background":"#95e3c4","_type":"sanity.imagePaletteSwatch","foreground":"#000"}},"hasAlpha":true},"_rev":"Ageu6TTgJ7vZkt7g9Vz47w","url":"https://cdn.sanity.io/images/8mioycse/v3/694d2fdbb83b350a1bd66537de1084a86a0e1f44-480x270.gif","_createdAt":"2024-04-05T01:59:34Z","extension":"gif"}},"slug":"/story/2024/04/your-mcdonalds-meal-might-be-nearly-3-times-more-expensive-than-it-was-in-2014"},{"title":"Flying Coach Gets A Bad Rap On TikTok, But These Influencers Want To Change That","_id":"8b67326b-d177-4022-bd27-676ac062581b","image":{"_type":"image","attribution":"Giphy","asset":{"assetId":"40d3c58ee9e82e31f26a5df3cfd7cb21d93ea63d","_updatedAt":"2024-03-29T03:31:08Z","_type":"sanity.imageAsset","size":2295003,"originalFilename":"ezgif-7-71047c38b5.gif","extension":"gif","metadata":{"_type":"sanity.imageMetadata","palette":{"dominant":{"background":"#9c9ccc","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":9.05},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":0.38,"background":"#503f66","_type":"sanity.imagePaletteSwatch"},"muted":{"population":8.55,"background":"#8e925f","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightVibrant":{"title":"#fff","population":0.1,"background":"#8d93ee","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"darkVibrant":{"background":"#881206","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":8.85},"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":9.05,"background":"#9c9ccc"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":6.51,"background":"#dbba2e"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7843866171003717,"height":269},"isOpaque":true,"blurHash":"MOGua:#MH@amMKR]t9%EkrI[TMNgxunfS7"},"uploadId":"3LANLw3sxt8nqbls3eIT1ltfYacZVjK7","_createdAt":"2024-03-29T03:31:08Z","_id":"image-40d3c58ee9e82e31f26a5df3cfd7cb21d93ea63d-480x269-gif","_rev":"xsJlBnLx23003tnPWW7xvW","mimeType":"image/gif","sha1hash":"40d3c58ee9e82e31f26a5df3cfd7cb21d93ea63d","url":"https://cdn.sanity.io/images/8mioycse/v3/40d3c58ee9e82e31f26a5df3cfd7cb21d93ea63d-480x269.gif","path":"images/8mioycse/v3/40d3c58ee9e82e31f26a5df3cfd7cb21d93ea63d-480x269.gif"}},"_updatedAt":"2024-03-29T03:31:11Z","author":{"_ref":"phCNL32Gn","_type":"reference"},"_rev":"zSdPAFI4Bqf7mL4AEQW5vw","_type":"story","summary":"There seems to be some pushback against the big-spending trend.","publishDate":"2024-03-29","slug":"/story/2024/03/flying-coach-gets-a-bad-rap-on-tiktok-but-these-influencers-want-to-change-that","_createdAt":"2024-03-28T23:20:33Z","body":[{"_key":"740970c64f9e","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Cramped seats, loud passengers, and limited amenities. That’s the price airline passengers have to pay to get the cheapest seats on a jet, right?","_key":"04e061f5dbc70"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"Some TikTok influencers insist there’s no substitute for ","_key":"381082786ea30"},{"text":"upgrading to business class,","_key":"2a7baca8c884","_type":"span","marks":["strong"]},{"text":" but a new wave of creators are pushing back against that narrative and paying ","_key":"fec235730e0f","_type":"span","marks":[]},{"_type":"span","marks":["d591a77394a5"],"text":"respect","_key":"381082786ea31"},{"marks":[],"text":" to air travel’s unsung hero.","_key":"381082786ea32","_type":"span"}],"_type":"block","style":"normal","_key":"98e1dc23b567","markDefs":[{"_type":"link","href":"https://www.businessinsider.com/tiktokers-want-normalize-flying-economy-after-excessive-luxury-content-2024-3","_key":"d591a77394a5"}]},{"style":"normal","_key":"f4703be79f38","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"It’s not really that bad","_key":"0160180506b60"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"That’s the main takeaway from a flood of recent posts from travelers who saved a bunch of cash by opting for coach or economy class tickets instead of springing for an upgrade.","_key":"40519ae108250"}],"_type":"block","style":"normal","_key":"2effbf524ee4"},{"_key":"5e943e05b783","markDefs":[],"children":[{"_key":"90816c2b2d3e0","_type":"span","marks":[],"text":"A lifestyle-focused TikToker with the handle Hybee offered this advice: “"},{"text":"Normalize flying in economy","_key":"36d4132b665d","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":".”","_key":"8386b5d05275"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Of course, as many of you already know, there’s nothing abnormal about buying economy class tickets. In fact, there are far more coach seats on a plane than there are in business class. But many influencers who thrive on presenting a particular image to their audiences wouldn’t dare be caught amongst the common folks.","_key":"848ee40966e80"}],"_type":"block","style":"normal","_key":"93cb6df6784c"},{"_key":"4b123df31b2b","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Hybee bucked that trend during a recent 15-hour flight and provided a fairly complimentary review.","_key":"0c2255d2e0dd0"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"0e64d31b12ae","markDefs":[],"children":[{"_type":"span","marks":[],"text":"“Not luxury but still yummy,” she said of her beef-and-veggie meal. The restroom was “","_key":"515deab85f710"},{"text":"cramped, but it does the job","_key":"0bb9c7a7a31c","_type":"span","marks":["strong"]},{"text":",” she added, and determined that the cheap seats are “fine.”","_key":"65ddaa0ccb4b","_type":"span","marks":[]}]},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"A means to an end","_key":"4c2c736b87970"}],"_type":"block","style":"normal","_key":"cf55f6e8d59a"},{"children":[{"text":"Unless you're flush with expendable income and planning a very long trip, there’s really ","_key":"c363f0974d2e0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"not much justification","_key":"3c118ac46b38"},{"_type":"span","marks":[],"text":" for spending so much more for tickets that will get you to the same destination.","_key":"274201fde330"}],"_type":"block","style":"normal","_key":"92fb07aa534d","markDefs":[]},{"markDefs":[],"children":[{"text":"Ordinary travelers already know this, and some TikTokers are getting the message. Travel industry entrepreneur Jessica Dante said such content is far more relatable, explaining: “The vast majority of flyers will take economy and they still want to see videos that review airline experiences, ","_key":"9539e78cdd2b0","_type":"span","marks":[]},{"text":"show how people can get rest","_key":"7976f3828ac3","_type":"span","marks":["strong"]},{"text":" on long-haul economy flights.”","_key":"649ed1586183","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"83e72e0b4bf0"}],"id":"ESx5OnYM","category":"economy","visibility":"true"},{"image":{"_type":"image","attribution":"Giphy","asset":{"assetId":"b7dafba23b031dcb202d7c3eb91f4878c863588d","_updatedAt":"2024-03-26T01:56:42Z","originalFilename":"2ea85b79-024f-4a13-ba9f-14ea2ac28249.gif","uploadId":"omY2DF7ZtD82DJvo2oOKK8w4YmtvXCWo","source":{"name":"Work Text GIF by Petas.gr","id":"QVT4xk2sLKzwM2klE6","url":"https://giphy.com/gifs/Petasgr-petas-petasgr-petastravel-QVT4xk2sLKzwM2klE6"},"_id":"image-b7dafba23b031dcb202d7c3eb91f4878c863588d-480x270-gif","_type":"sanity.imageAsset","_createdAt":"2024-03-26T01:56:42Z","url":"https://cdn.sanity.io/images/8mioycse/v3/b7dafba23b031dcb202d7c3eb91f4878c863588d-480x270.gif","size":199934,"extension":"gif","metadata":{"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"aspectRatio":1.7777777777777777,"height":270,"_type":"sanity.imageDimensions","width":480},"isOpaque":true,"blurHash":"MZEfpb.AVqxYNfX:%hadRi%M%GaxSjofn#","_type":"sanity.imageMetadata","palette":{"darkVibrant":{"foreground":"#fff","title":"#fff","population":0.01,"background":"#6d3c07","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"title":"#fff","population":0.63,"background":"#d3b89c","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"title":"#fff","population":1.57,"background":"#098ee8","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"dominant":{"foreground":"#000","title":"#fff","population":7.59,"background":"#96bedc","_type":"sanity.imagePaletteSwatch"},"_type":"sanity.imagePalette","darkMuted":{"background":"#543129","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":1.26},"muted":{"foreground":"#fff","title":"#fff","population":6.56,"background":"#906255","_type":"sanity.imagePaletteSwatch"},"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":7.59,"background":"#96bedc"}}},"sha1hash":"b7dafba23b031dcb202d7c3eb91f4878c863588d","path":"images/8mioycse/v3/b7dafba23b031dcb202d7c3eb91f4878c863588d-480x270.gif","_rev":"FmA2Rjw7J9QUQYhZBjPl5h","mimeType":"image/gif"}},"_rev":"FmA2Rjw7J9QUQYhZBjQdAX","summary":"This one has been circulating far and wide for many years.","title":"It’s Time To Debunk A Common Myth About Finding The Best Airline Deals Online","category":"economy","slug":"/story/2024/03/its-time-to-debunk-a-common-myth-about-finding-the-best-airline-deals-online","body":[{"children":[{"_type":"span","marks":[],"text":"While incognito mode has several uses (some of which we don’t need to get into here), there’s one ","_key":"7a55f1d750480"},{"text":"alleged","_key":"7a55f1d750481","_type":"span","marks":["04d85c1cfa65"]},{"marks":[],"text":" benefit of using the more private web browsing option that simply doesn’t hold water.","_key":"7a55f1d750482","_type":"span"}],"_type":"block","style":"normal","_key":"c7cb0f5ffd66","markDefs":[{"_type":"link","href":"https://gizmodo.com/incognito-mode-does-not-help-you-find-cheap-flights-1851360398","_key":"04d85c1cfa65"}]},{"_type":"block","style":"normal","_key":"b6bca9dcb69f","markDefs":[],"children":[{"_key":"427cb6909c090","_type":"span","marks":[],"text":"Despite what you might have heard, you won't find cheaper tickets for your next commercial flight just by switching into incognito mode."}]},{"children":[{"_type":"span","marks":["strong"],"text":"Where did the myth come from?","_key":"46130f77a33d0"}],"_type":"block","style":"normal","_key":"6d47b357ea41","markDefs":[]},{"_type":"block","style":"normal","_key":"51b4aec97f0f","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The airline industry isn’t alone in","_key":"d3ae1a2d0f8a0"},{"_key":"4166ed9de4f9","_type":"span","marks":["strong"],"text":" fueling the misconception"},{"_key":"4ffc9ba731ec","_type":"span","marks":[],"text":" that keeping one’s identity a secret will somehow open up a lower price that otherwise wouldn’t be available. "}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Since we’ve all experienced the concept of searching for a product and then being inundated with","_key":"c6ae01fdae9f"},{"_type":"span","marks":["strong"],"text":" ads for that very same product","_key":"239200835326"},{"_type":"span","marks":[],"text":", we’ve become sort of accustomed to assuming that companies are trying to gouge us because they know we’re interested in what they’re selling.","_key":"a42bb10dced1"}],"_type":"block","style":"normal","_key":"0d45e702dba7"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"But it’s not true for coats or shoes or ukuleles … and it’s also not the case when shopping around for an airline ticket.","_key":"5ea34de51b3e0"}],"_type":"block","style":"normal","_key":"96faf37bb3af"},{"style":"normal","_key":"0c63e32d8e67","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"There’s a major difference, though","_key":"eab4877cbd050"}],"_type":"block"},{"markDefs":[],"children":[{"marks":[],"text":"Although the underlying facts might be the same regarding the irrelevance of incognito mode, there’s probably another reason that so many people wrongly assume that using this supposed hack will result in cheaper airfare.","_key":"942157d9ee260","_type":"span"}],"_type":"block","style":"normal","_key":"2f4a358581e5"},{"style":"normal","_key":"3e4b02ae8d6d","markDefs":[],"children":[{"marks":[],"text":"It dates back to the 1970s, ","_key":"02547a286e9f0","_type":"span"},{"_type":"span","marks":["strong"],"text":"when the industry was deregulated ","_key":"7b91cd8619ce"},{"_type":"span","marks":[],"text":"and carriers began a battle to offer the lowest price that continues to rage to this day.","_key":"fc5860261e58"}],"_type":"block"},{"children":[{"_type":"span","marks":[],"text":"So whenever one seat is booked, the price of other seats on the same flight are adjusted accordingly. You might find a lower price in incognito mode, but it doesn’t mean that’s the reason.","_key":"e9c627c902b10"}],"_type":"block","style":"normal","_key":"300c442b9311","markDefs":[]},{"_type":"block","style":"normal","_key":"23063857b177","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Scott Keyes, the CEO of discount airfare site Going, explained: “I think this myth mostly stems from the fact that ","_key":"62033e719f490"},{"_type":"span","marks":["strong"],"text":"airfare is extraordinarily volatile","_key":"f68ad03845ac"},{"_type":"span","marks":[],"text":". It’s so easy to confuse volatility with a sort of ‘Truman Show’ belief that it’s because of you.”","_key":"d9630491f750"}]}],"_createdAt":"2024-03-25T22:17:48Z","visibility":"true","author":{"_ref":"phCNL32Gn","_type":"reference"},"_id":"6a11d397-610b-4fcd-ab49-302ebb961568","id":"QmwE3ao4","_type":"story","_updatedAt":"2024-03-26T02:01:06Z","publishDate":"2024-03-26"},{"author":{"_ref":"phCNL32Gn","_type":"reference"},"publishDate":"2024-03-18","title":"Cash-Strapped Consumers Are Using ‘Buy Now, Pay Later’ At The Supermarket","_id":"8612156b-086d-42b3-ae95-de9d38113eb0","image":{"_type":"image","attribution":"Giphy","asset":{"extension":"gif","_type":"sanity.imageAsset","_createdAt":"2024-03-18T00:52:54Z","_updatedAt":"2024-03-18T00:52:54Z","uploadId":"3nxHnIFbknEFALyd3hI2xODIfvPEptrj","path":"images/8mioycse/v3/9a54f4636b7ea634d8c3a1b6574c27f97a31d4bb-480x269.gif","size":6699252,"originalFilename":"ezgif-3-9b5e0add3e.gif","_rev":"56goMLIuBIngYUsAS8SGax","mimeType":"image/gif","url":"https://cdn.sanity.io/images/8mioycse/v3/9a54f4636b7ea634d8c3a1b6574c27f97a31d4bb-480x269.gif","metadata":{"_type":"sanity.imageMetadata","palette":{"vibrant":{"background":"#7f7f7f","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0},"dominant":{"title":"#fff","population":6.85,"background":"#7c7c7c","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"background":"#444444","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":3.83},"muted":{"title":"#fff","population":6.85,"background":"#7c7c7c","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"population":0,"background":"#bcbcbc","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"darkVibrant":{"background":"#424242","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0},"lightMuted":{"title":"#000","population":2.61,"background":"#d4d4d4","_type":"sanity.imagePaletteSwatch","foreground":"#000"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAALABQDASIAAhEBAxEB/8QAFgABAQEAAAAAAAAAAAAAAAAABgAH/8QAJBAAAgEDAwMFAAAAAAAAAAAAAQIDAAQFERMhBhRREiIxMjP/xAAUAQEAAAAAAAAAAAAAAAAAAAAA/8QAFBEBAAAAAAAAAAAAAAAAAAAAAP/aAAwDAQACEQMRAD8Ax3OdVZLNZhUswdqNvyj4BA80vbqztIlIgKyIoG35askt5HizMhiYoefg0yspHnht3mPrZW0BI5oFkuXsICO7eXekG43GumtVDMzK4vT7j9RVQf/Z","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7843866171003717,"height":269},"isOpaque":true,"blurHash":"MAA0?#9Fof%M%M~qt7j[-;t7?bt7j[%MRj"},"sha1hash":"9a54f4636b7ea634d8c3a1b6574c27f97a31d4bb","assetId":"9a54f4636b7ea634d8c3a1b6574c27f97a31d4bb","_id":"image-9a54f4636b7ea634d8c3a1b6574c27f97a31d4bb-480x269-gif"}},"_rev":"56goMLIuBIngYUsAS8SGiZ","_createdAt":"2024-03-17T22:49:04Z","slug":"/story/2024/03/cashstrapped-consumers-are-using-buy-now-pay-later-at-the-supermarket","visibility":"true","id":"82XPF5oL","body":[{"children":[{"_key":"19d5aa962e0a0","_type":"span","marks":[],"text":"After years of post-COVID price hikes, shoppers started to become cautiously optimistic that the soaring inflation rate was finally beginning to approach normal. But the latest reports show that inflation is still hotter than analysts had anticipated."}],"_type":"block","style":"normal","_key":"14d44278a01a","markDefs":[]},{"_type":"block","style":"normal","_key":"55b645435af1","markDefs":[{"_type":"link","href":"https://finance.yahoo.com/news/with-food-inflation-still-hot-consumers-turn-to-buy-now-pay-later-to-buy-groceries-and-takeout-140000942.html","_key":"d65005c0394f"}],"children":[{"_key":"20edee3863a70","_type":"span","marks":[],"text":"And it’s the necessities — groceries in particular — that are really putting the "},{"_type":"span","marks":["d65005c0394f"],"text":"pressure","_key":"20edee3863a71"},{"_type":"span","marks":[],"text":" on struggling shoppers.","_key":"20edee3863a72"}]},{"style":"normal","_key":"0cc5e69b1bd6","markDefs":[],"children":[{"_key":"aaf076c2f7650","_type":"span","marks":["strong"],"text":"A blessing or a curse?"}],"_type":"block"},{"children":[{"marks":[],"text":"Along with a rise in prices came a surge in the availability of easy credit options known as “buy now, pay later.”","_key":"6f83bc8d976c0","_type":"span"}],"_type":"block","style":"normal","_key":"dd64eb00c44c","markDefs":[]},{"children":[{"_type":"span","marks":[],"text":"Roughly ","_key":"dbbbb732ddfd0"},{"marks":["strong"],"text":"6.5% of the U.S. population ","_key":"0deafe0d1ef9","_type":"span"},{"text":"(that’s roughly 15 million people) used BNPL to buy groceries last year. The overwhelming majority of those shoppers fell into the “low-income” category.","_key":"2024dbaa711c","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"0432ada031a3","markDefs":[]},{"style":"normal","_key":"91b88c5ecff2","markDefs":[],"children":[{"marks":[],"text":"If used responsibly, there are some pros. It’s easier to obtain credit through BNPL platforms than most credit cards. And if borrowers pay off their loans according to the established schedule, the added cost of","_key":"225fa4ac42390","_type":"span"},{"_type":"span","marks":["strong"],"text":" interest or fees","_key":"cf2f036c33f7"},{"_type":"span","marks":[],"text":" is minimal.","_key":"ea8be7903e78"}],"_type":"block"},{"children":[{"_type":"span","marks":[],"text":"But that easy credit comes with a huge potential downside. It’s easier than ever for consumers to borrow more than they can afford, and the penalties for late or missed payments can add up quickly.","_key":"7e25ca50d1dc0"}],"_type":"block","style":"normal","_key":"7a5aad29a3d8","markDefs":[]},{"_type":"block","style":"normal","_key":"1a95a81070dd","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"What’s the answer?","_key":"acf4284b3eb60"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"The reality is that, generally speaking, groceries are a whopping 22.3% more expensive than they were in 2020. That means folks are forced to make some tough decisions. ","_key":"ea6508944f3b0"},{"_type":"span","marks":["strong"],"text":"Three-fifths of shoppers","_key":"67e2b547b642"},{"text":" who earn less than $100,000 per year said they’ve had to scale back their grocery lists as a result.","_key":"5fc71f9ecaa2","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"ca4dc0aaf2cb"},{"style":"normal","_key":"1427d360c967","markDefs":[],"children":[{"_type":"span","marks":[],"text":"But there are only so many cost-cutting measures available — so if BNPL is the only remaining option, be sure you know what you’re getting into.","_key":"19cc9599dd0a0"}],"_type":"block"},{"children":[{"_type":"span","marks":[],"text":"“If used responsibly, BNPL can be a great resource,” said financial expert Erika Kullberg. “However, it is ","_key":"249c01674c860"},{"_type":"span","marks":["strong"],"text":"a double-edged sword","_key":"896edc6fd79e"},{"_type":"span","marks":[],"text":" that can quickly turn against you if not used properly.”","_key":"b3f439a0ace1"}],"_type":"block","style":"normal","_key":"584cf5e5235e","markDefs":[]}],"summary":"It can be a helpful tool, but there are some serious strings attached.","_type":"story","category":"economy","_updatedAt":"2024-03-18T00:52:57Z"},{"visibility":"true","_id":"778c783f-e192-44c5-b2f2-2e90e3c0f88e","publishDate":"2024-02-27","_rev":"ADz8RFrWctO7ioaeTs4CdI","body":[{"markDefs":[],"children":[{"_key":"6bf81f48c5de0","_type":"span","marks":[],"text":"U.S. taxpayers have been complaining for generations about how onerous the tax-filing process has become. But the companies that make their money by preparing taxes each year have been fighting hard against serious reform efforts."}],"_type":"block","style":"normal","_key":"5268aed264f0"},{"_type":"block","style":"normal","_key":"de3b5cd0ddf2","markDefs":[{"_type":"link","href":"https://www.vox.com/future-perfect/24071005/irs-direct-file-free-tax-software-turbotax-review","_key":"cc599bcc377f"}],"children":[{"_type":"span","marks":[],"text":"Ahead of this April 15, however, there was some ","_key":"4163a1b0c81f0"},{"_key":"4163a1b0c81f1","_type":"span","marks":["cc599bcc377f"],"text":"optimism"},{"_key":"4163a1b0c81f2","_type":"span","marks":[],"text":" that things might be starting to change. The IRS announced a new (free!) tax-filing software called Direct File … but this year it’s only available to a fraction of Americans."}]},{"_key":"f5f94d047140","markDefs":[],"children":[{"marks":["strong"],"text":"What it’s all about","_key":"92b4db3b9ebe0","_type":"span"}],"_type":"block","style":"normal"},{"_key":"c344f34428bc","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The Direct File software debuted last week, but only a small percentage of the taxpayers in the dozen states where the pilot program will be offered this year. According to the IRS, it will “continue to open for new taxpayers in pilot states for","_key":"58c4eee9adfd0"},{"_key":"4e703c509130","_type":"span","marks":["strong"],"text":" short availability windows"},{"_key":"ca8f8419dd58","_type":"span","marks":[],"text":"” over the course of the next several weeks."}],"_type":"block","style":"normal"},{"_key":"e38ca9878d6d","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Not only will millions of Americans not even have the opportunity to try out the software this year, its capabilities are limited to those with relatively simple tax situations. Freelancers, business owners, and others in special situations won’t be able to use it.","_key":"eb375fbb54440"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"4f3fde5f064c","markDefs":[],"children":[{"_type":"span","marks":[],"text":"A Treasury Department estimate suggests just 1 in 3 taxpayers in the states where the pilot program is being offered will be eligible to participate.","_key":"89f1db3e5bf80"}]},{"children":[{"_type":"span","marks":["strong"],"text":"A (painfully) slow start","_key":"695e9e28f2c40"}],"_type":"block","style":"normal","_key":"6d33caba25b4","markDefs":[]},{"children":[{"text":"Vox writer Dylan Matthews was able to check out the program first-hand even though his tax situation would preclude him from using it. And his takeaway was that Direct File has some limitations compared to what the private sector can offer, although there are signs that the program might have a bright future.","_key":"f0ca702692200","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"134b432d8879","markDefs":[]},{"markDefs":[],"children":[{"marks":[],"text":"In light of the glitchy rollout of HealthCare.gov more than a decade ago, Matthews concluded: “The idea this time was to ","_key":"42e541997a810","_type":"span"},{"_type":"span","marks":["strong"],"text":"build it gradually","_key":"62a372a06f68"},{"_type":"span","marks":[],"text":" so that each limited form of the software works before moving forward.”","_key":"08e84db41533"}],"_type":"block","style":"normal","_key":"1ab6d4a2e1ba"}],"slug":"/story/2024/02/direct-file-is-the-new-irs-software-worth-the-hype","image":{"_type":"image","attribution":"Giphy","asset":{"uploadId":"hm32ndFHgh6yzRNOIrOgQ9q0Or9GwaBg","_id":"image-4e613ade68ddf4fa3d83f4ec95d7aeb7336c99a9-400x223-gif","originalFilename":"52ac0dc0-1704-43b4-810f-42efe65472c2.gif","mimeType":"image/gif","sha1hash":"4e613ade68ddf4fa3d83f4ec95d7aeb7336c99a9","_createdAt":"2024-01-06T00:26:54Z","_updatedAt":"2024-01-06T00:26:54Z","extension":"gif","_type":"sanity.imageAsset","size":653227,"path":"images/8mioycse/v3/4e613ade68ddf4fa3d83f4ec95d7aeb7336c99a9-400x223.gif","assetId":"4e613ade68ddf4fa3d83f4ec95d7aeb7336c99a9","metadata":{"palette":{"muted":{"background":"#a7695d","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.77},"lightVibrant":{"foreground":"#000","title":"#fff","population":0,"background":"#8db8eb","_type":"sanity.imagePaletteSwatch"},"darkVibrant":{"population":6.69,"background":"#0e478c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightMuted":{"background":"#cbd4dc","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":7.09},"vibrant":{"background":"#1f65b8","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":7.25},"dominant":{"title":"#fff","population":7.25,"background":"#1f65b8","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"background":"#3b2c5c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.59}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":400,"aspectRatio":1.7937219730941705,"height":223},"isOpaque":true,"blurHash":"M99H9gVr8w=WDiE=x]x:MxI9X7MyR3pL$|","_type":"sanity.imageMetadata"},"_rev":"IucNCpenvuaX8mLNfLH78k","source":{"name":"jon stewart television GIF","id":"8NmSc99idQsk8","url":"https://giphy.com/gifs/television-politics-jon-stewart-8NmSc99idQsk8"},"url":"https://cdn.sanity.io/images/8mioycse/v3/4e613ade68ddf4fa3d83f4ec95d7aeb7336c99a9-400x223.gif"},"crop":{"right":0,"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop"},"hotspot":{"height":1,"_type":"sanity.imageHotspot","width":0.8938356164383561,"x":0.5,"y":0.5}},"_createdAt":"2024-02-26T23:36:35Z","author":{"_ref":"phCNL32Gn","_type":"reference"},"id":"778e5X5L","title":"Direct File: Is The New IRS Software Worth The Hype?","category":"economy","_type":"story","_updatedAt":"2024-02-26T23:36:35Z","summary":"Only a small percentage of U.S. taxpayers will be able to try it this year."},{"_rev":"3xOQU4pbLPGd3f4kcV2Qqd","id":"RzHue2wx","publishDate":"2024-02-22","author":{"_ref":"phCNL32Gn","_type":"reference"},"_id":"9948cd18-2c39-43c0-835a-421038ed8e72","_updatedAt":"2024-02-22T00:02:35Z","visibility":"true","title":"Understanding Why Auto Insurance Rates Have Spiked In Recent Years","category":"economy","slug":"/story/2024/02/understanding-why-auto-insurance-rates-have-spiked-in-recent-years","body":[{"markDefs":[{"_type":"link","href":"https://www.vox.com/2024/2/21/24078362/inflation-car-insurance-distracted-driving-costs","_key":"95084333fc02"}],"children":[{"_type":"span","marks":[],"text":"The cost of just about everything is significantly higher in 2024 than it was in 2020. But some things have become especially expensive over the past few years … and as many motorists will ","_key":"b73524cded490"},{"_type":"span","marks":["95084333fc02"],"text":"confirm","_key":"b73524cded491"},{"text":", car insurance belongs on that list.","_key":"b73524cded492","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"7258d5a45c34"},{"children":[{"text":"Breaking down the data","_key":"858d6fc6a46b0","_type":"span","marks":["strong"]}],"_type":"block","style":"normal","_key":"bdcb36027ba2","markDefs":[]},{"_type":"block","style":"normal","_key":"a0c7c9ed4a95","markDefs":[],"children":[{"_key":"d5ee8d2a7fd40","_type":"span","marks":[],"text":"Recent economic reports have shown that inflation remains hotter than expected — and according to the latest consumer price index, auto insurance rates have been at the forefront of the trend. 2023 was a year of especially rapid rate increases, with the cost of a typical policy last month tipping the scales at"},{"_type":"span","marks":["strong"],"text":" 20% higher","_key":"526feb5f0df0"},{"_type":"span","marks":[],"text":" than just one year earlier.","_key":"24b544745102"}]},{"children":[{"_type":"span","marks":[],"text":"Compared to January 2020, current rates are a whopping ","_key":"87b2bbc88e670"},{"_type":"span","marks":["strong"],"text":"38% higher","_key":"4eadf19cbc39"},{"_type":"span","marks":[],"text":", far outpacing the average inflation rate over the same period.","_key":"58b3664aaa44"}],"_type":"block","style":"normal","_key":"e61b74d3aee6","markDefs":[]},{"_type":"block","style":"normal","_key":"ae777a963884","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Cause and effect","_key":"71d018dfed4f0"}]},{"markDefs":[],"children":[{"text":"While there’s no denying the fact that insuring a car has gotten much more expensive, the insurance companies aren’t offering many details to explain the cost increase.","_key":"1703c9582d250","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"a79922febd8b"},{"markDefs":[],"children":[{"_key":"9905dfe302590","_type":"span","marks":[],"text":"Nevertheless, industry insiders have pointed to a couple of factors that seem to justify those price hikes … at least partially."}],"_type":"block","style":"normal","_key":"686d04f06d67"},{"listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Bigger risks","_key":"66aaa4569f730"},{"_type":"span","marks":[],"text":": Studies indicate that drivers have been more distracted and aggressive in general since the pandemic, which correlates with more crashes (and increased liability for insurers). Cambridge Mobile Telematics executive Ryan McMahon explained: “Since COVID, we saw this incredible increase in distracted driving. You could almost track it by the day schools started to shut down.”","_key":"17a9dcfe6410"}],"level":1,"_type":"block","style":"normal","_key":"12e63f441fe9"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"More complexity","_key":"4708ef92bad50"},{"_type":"span","marks":[],"text":": A generation ago, cars were largely utilitarian modes of transportation unlike the rolling high-tech computers they are today. EVs are in a class of their own when it comes to repair costs, but all new vehicles contain components and materials that are much more expensive to fix or replace than similar vehicles sold just a couple of decades ago.","_key":"667ddca9f9e5"}],"level":1,"_type":"block","style":"normal","_key":"b03cbdc7f4ad","listItem":"bullet"}],"_type":"story","_createdAt":"2024-02-21T23:58:39Z","summary":"The companies aren't fessing up, but there are some telltale clues.","image":{"hotspot":{"width":0.9006849315068489,"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot"},"_type":"image","attribution":"Giphy","asset":{"extension":"gif","mimeType":"image/gif","originalFilename":"6f392b28-c09a-4a8f-8f15-4236aa39c400.gif","metadata":{"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777,"height":270},"isOpaque":true,"blurHash":"M8Av^1t7X9nORQ?wRjx@jFW.?YaKMyM|sA","_type":"sanity.imageMetadata","palette":{"dominant":{"foreground":"#fff","title":"#fff","population":8.24,"background":"#4c3b2a","_type":"sanity.imagePaletteSwatch"},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":8.24,"background":"#4c3b2a","_type":"sanity.imagePaletteSwatch"},"muted":{"foreground":"#000","title":"#fff","population":0.23,"background":"#a6a857","_type":"sanity.imagePaletteSwatch"},"lightVibrant":{"population":2.28,"background":"#e3e08d","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":0.01,"background":"#682c04","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"population":0,"background":"#7a771e","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"vibrant":{"population":0.07,"background":"#767920","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"}},"hasAlpha":true},"_type":"sanity.imageAsset","_createdAt":"2024-02-22T00:01:33Z","_rev":"3xOQU4pbLPGd3f4kcV2I3b","sha1hash":"5458f596fba58b517dcf81a458acef3cd62609ec","url":"https://cdn.sanity.io/images/8mioycse/v3/5458f596fba58b517dcf81a458acef3cd62609ec-480x270.gif","path":"images/8mioycse/v3/5458f596fba58b517dcf81a458acef3cd62609ec-480x270.gif","_updatedAt":"2024-02-22T00:01:33Z","uploadId":"2V5EvR6Obt3DRHk5OMZMT1l2QMaS59Kj","source":{"name":"Driving Emily Osment GIF by CBS","id":"1MtFbLhmYobUghBius","url":"https://giphy.com/gifs/cbs-young-sheldon-youngsheldon-annie-potts-1MtFbLhmYobUghBius"},"size":1629614,"assetId":"5458f596fba58b517dcf81a458acef3cd62609ec","_id":"image-5458f596fba58b517dcf81a458acef3cd62609ec-480x270-gif"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0}}},{"visibility":"true","category":"economy","_updatedAt":"2024-02-16T01:32:10Z","title":"What Is The Middle Class? And Why Is It So Hard To Achieve?","_id":"d46ee55d-4a99-41a1-9b46-ef8437c93704","slug":"/story/2024/02/what-is-the-middle-class-and-why-is-it-so-hard-to-achieve","id":"o8GIBgMj","author":{"_type":"reference","_ref":"phCNL32Gn"},"_type":"story","_createdAt":"2024-02-16T01:32:10Z","body":[{"_key":"a9576532a189","markDefs":[],"children":[{"marks":[],"text":"Just like the often elusive “American Dream” can look much different depending on who’s defining it, so is the status of “middle class” often dependent on","_key":"1a952b0ea0d50","_type":"span"},{"_type":"span","marks":["strong"],"text":" personal ideals that can vary greatly","_key":"b0e81ae3e161"},{"text":" from person to person.","_key":"9c4bda8b9675","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"markDefs":[{"_type":"link","href":"https://www.washingtonpost.com/business/2024/02/15/middle-class-financial-security/","_key":"a4a7af38f149"}],"children":[{"_key":"d347820ebd860","_type":"span","marks":[],"text":"But one thing is fairly consistent these days … no matter what someone thinks it means to be middle class, "},{"marks":["a4a7af38f149"],"text":"attaining","_key":"d347820ebd861","_type":"span"},{"_type":"span","marks":[],"text":" those goals seems more difficult than ever.","_key":"d347820ebd862"}],"_type":"block","style":"normal","_key":"b13dbac5c260"},{"style":"normal","_key":"f5436b44477b","markDefs":[],"children":[{"marks":["strong"],"text":"Settling on a definition","_key":"b4738bfeeb140","_type":"span"}],"_type":"block"},{"children":[{"_key":"790d1ee58b620","_type":"span","marks":[],"text":"While we might not agree on everything, most economists and ordinary Americans alike have a few factors they say are pivotal in the pursuit of the middle class."}],"_type":"block","style":"normal","_key":"76555123519a","markDefs":[]},{"_type":"block","style":"normal","_key":"9f43a5880d72","markDefs":[],"children":[{"text":"Broadly speaking, ","_key":"34587666cacf0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"the six most commonly cited criteria","_key":"537cb2bfa2c6"},{"_type":"span","marks":[],"text":" are:","_key":"ab95a56490a4"}]},{"_type":"block","style":"normal","_key":"c743c737d172","listItem":"bullet","markDefs":[],"children":[{"marks":[],"text":"Health insurance","_key":"10ddb8dcad260","_type":"span"}],"level":1},{"style":"normal","_key":"b961757b6823","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"A good, steady job","_key":"fe3a3546f75e0"}],"level":1,"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"The ability to save","_key":"7172100377120"}],"level":1,"_type":"block","style":"normal","_key":"3f1d080a11e3","listItem":"bullet"},{"level":1,"_type":"block","style":"normal","_key":"be9f2db8e919","listItem":"bullet","markDefs":[],"children":[{"_key":"ea754e55ce200","_type":"span","marks":[],"text":"Enough money for bills"}]},{"markDefs":[],"children":[{"_key":"ec1acadab6a50","_type":"span","marks":[],"text":"An emergency fund"}],"level":1,"_type":"block","style":"normal","_key":"296e83e13722","listItem":"bullet"},{"_type":"block","style":"normal","_key":"51fde5606f09","listItem":"bullet","markDefs":[],"children":[{"marks":[],"text":"Retirement plans","_key":"fef2abac61580","_type":"span"}],"level":1},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"But while about 90% of American adults polled agreed that these six benchmarks exemplify the middle class,","_key":"4ec22435ffc80"},{"_type":"span","marks":["strong"],"text":" only a little more than one-third ","_key":"6d5cf6550d00"},{"_type":"span","marks":[],"text":"had them all covered.","_key":"c8ed13fff56f"}],"_type":"block","style":"normal","_key":"4c83169b9728"},{"style":"normal","_key":"d7fde79bdc40","markDefs":[],"children":[{"_key":"3811f7b6141c0","_type":"span","marks":["strong"],"text":"More than just money"}],"_type":"block"},{"style":"normal","_key":"38168a021c54","markDefs":[],"children":[{"_type":"span","marks":[],"text":"You might have seen “middle class” defined solely in terms of income. One equation frequently used involves a range of between two-thirds and double the median income. For a family of four, that would be anywhere from around $68,000 to just over $200,000 per year in 2022 dollars. A Washington Post poll found that most Americans see ","_key":"6cecebba99000"},{"_type":"span","marks":["strong"],"text":"$75,000 to $100,000 ","_key":"549facd3371f"},{"text":"as the sweet spot.","_key":"8ba33cc56b76","_type":"span","marks":[]}],"_type":"block"},{"style":"normal","_key":"10fe2afdaa44","markDefs":[],"children":[{"text":"That’s a pretty big gap, and experts say","_key":"85c3019cdbcb0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" it’s a simplistic way","_key":"b68cbc87d1a8"},{"_type":"span","marks":[],"text":" to look at the issue.","_key":"d72db7395a0c"}],"_type":"block"},{"_type":"block","style":"normal","_key":"d175942b91ee","markDefs":[],"children":[{"marks":[],"text":"As we all face an uncertain future, says anthropology professor Caitlin Zaloom, it’s clear that simply bringing home enough money now isn’t enough to provide long-term security.","_key":"e7dae58ec7ae0","_type":"span"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"“Middle class-ness and predictability are ","_key":"b2337ab2a1a50"},{"_type":"span","marks":["strong"],"text":"very tied in the American imagination","_key":"55f8b32d7c15"},{"text":",” she said. “Sometimes that is about security in the present, but it also means feeling secure about where life is going.”","_key":"3709f50ed80c","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"53d7394146c1"}],"summary":"It's an increasingly elusive symbol of success for many American families.","_rev":"iF2vGmW38fJrStJgfn3ILh","publishDate":"2024-02-16","image":{"hotspot":{"width":0.958904109589041,"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot"},"_type":"image","attribution":"Giphy","asset":{"metadata":{"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAAKABQDASIAAhEBAxEB/8QAGAAAAgMAAAAAAAAAAAAAAAAAAAYDBQj/xAAhEAACAQQCAgMAAAAAAAAAAAABAgMABQYREiEEMQdhcf/EABUBAQEAAAAAAAAAAAAAAAAAAAAC/8QAGxEAAgEFAAAAAAAAAAAAAAAAAAECAxESEyH/2gAMAwEAAhEDEQA/AHrKr+bN4ytJIrczxCKuzVfZ8vWa5RW5W5NKu0kI6/KSvlxmW9jixGwPRpVxWWQ5pZgXbRlHW6a01kVGo0nE0esk2u9E/VFT616oqLjh/9k=","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.935483870967742,"height":248},"isOpaque":true,"blurHash":"MVL4Z;NG.StRsm~Vs:E2W;V@kDWBjZWpoL","_type":"sanity.imageMetadata","palette":{"darkVibrant":{"foreground":"#fff","title":"#fff","population":0,"background":"#6c3018","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"foreground":"#000","title":"#fff","population":2.09,"background":"#cfad9e","_type":"sanity.imagePaletteSwatch"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0,"background":"#d05c2e"},"dominant":{"title":"#fff","population":14.93,"background":"#46454d","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":14.93,"background":"#46454d"},"muted":{"background":"#59a7a0","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.05},"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":0.65,"background":"#edc0ae"}},"hasAlpha":true},"url":"https://cdn.sanity.io/images/8mioycse/v3/f3257bd135b9e7589c655f51881d24cc1a995f14-480x248.gif","assetId":"f3257bd135b9e7589c655f51881d24cc1a995f14","_id":"image-f3257bd135b9e7589c655f51881d24cc1a995f14-480x248-gif","uploadId":"GCbdUMx7OHGCqEkNO4pNTZwRbtyYzaj4","_type":"sanity.imageAsset","path":"images/8mioycse/v3/f3257bd135b9e7589c655f51881d24cc1a995f14-480x248.gif","originalFilename":"2159572e-e3a6-4cb8-9281-505912b5c636.gif","extension":"gif","mimeType":"image/gif","size":800721,"_createdAt":"2024-02-16T01:30:50Z","_updatedAt":"2024-02-16T01:30:50Z","_rev":"iFD8LDwBaIMW2QzAomzysl","sha1hash":"f3257bd135b9e7589c655f51881d24cc1a995f14","source":{"id":"h1PoFwSdyD6ZVmUljk","url":"https://giphy.com/gifs/news-democratic-debate-sixth-dem-h1PoFwSdyD6ZVmUljk","name":"Joe Biden GIF by GIPHY News"}},"crop":{"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0,"left":0}}},{"slug":"/story/2024/02/medicaid-will-soon-start-helping-some-americans-obtain-affordable-housing","title":"Medicaid Will Soon Start Helping Some Americans Obtain Affordable Housing","_id":"7c6a2682-0ff2-4853-a683-a7002085453b","_rev":"wU4LEoBwRfL8KvTd2EnjAL","visibility":"true","category":"economy","body":[{"_key":"955225fa6e11","markDefs":[],"children":[{"marks":[],"text":"An insufficient supply and skyrocketing rental prices have resulted in a serious housing crisis across much of the United States, and various governmental agencies have been focusing their attention on strategies aimed at addressing the problem.","_key":"6340514475af0","_type":"span"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"One federal ","_key":"e536792215e20"},{"marks":["9389a18d4d82"],"text":"program","_key":"e536792215e21","_type":"span"},{"text":" that will soon be using its resources to fund housing for struggling Americans might sound like a surprising choice at first … but some experts say it makes sense.","_key":"e536792215e22","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"f2dd1991f51c","markDefs":[{"_type":"link","href":"https://www.vox.com/2024/2/13/24064445/medicaid-rent-housing-homelessness-healthcare","_key":"9389a18d4d82"}]},{"_key":"0c4d59380e40","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Letting the states decide","_key":"502f0c56d9410"}],"_type":"block","style":"normal"},{"children":[{"_key":"3c4b974a1a0c0","_type":"span","marks":[],"text":"Medicaid has helped qualifying citizens obtain healthcare for generations. And since the definition of healthcare has been expanded considerably in recent years (to include, among other things, housing), a number of states are either implementing or considering plans to devote some of the program’s funding to meet this growing need."}],"_type":"block","style":"normal","_key":"edbbce9d25ea","markDefs":[]},{"style":"normal","_key":"e1435fdbac26","markDefs":[],"children":[{"_key":"afd08e438c2a0","_type":"span","marks":[],"text":"Medicaid waivers have long been available to allow states to try out new and innovative strategies that might"},{"marks":["strong"],"text":" improve the efficacy and sustainability ","_key":"3f26741d00c5","_type":"span"},{"_type":"span","marks":[],"text":"of the program. The Biden administration is now allowing states to use it for housing subsidies.","_key":"f6431c3ed6cd"}],"_type":"block"},{"_key":"e94f49a68e95","markDefs":[],"children":[{"marks":[],"text":"This marks a departure from the past, when Medicaid could only be used to provide housing in very narrow circumstances, such as nursing homes or medical facilities.","_key":"0d080fec032a0","_type":"span"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":["strong"],"text":"A plan years in the making","_key":"7fcacadad11d0"}],"_type":"block","style":"normal","_key":"9f389cd55a7f","markDefs":[]},{"_key":"e6ae86b68531","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Affordable and accessible housing has become an increasing concern for elected officials and ordinary citizens alike in recent years — and last year marked record highs for both rent prices and the rate of homelessness.","_key":"9e601d3f21730"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"But advocates have been looking to Medicaid as a possible answer for years:","_key":"a69ff83f412e0"}],"_type":"block","style":"normal","_key":"48bb4480d34b"},{"_type":"block","style":"normal","_key":"b7d06666a381","listItem":"bullet","markDefs":[],"children":[{"text":"Starting in 2015, funding could be used ","_key":"97dc0c00d4740","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"to assist with moving expenses ","_key":"fe27e444b11f"},{"_type":"span","marks":[],"text":"and security deposits.","_key":"80c876f3a85b"}],"level":1},{"level":1,"_type":"block","style":"normal","_key":"59b9ebebc466","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Congressional testimony in 2018 revealed that housing insecurity is ","_key":"b925b52ec0990"},{"_type":"span","marks":["strong"],"text":"directly related","_key":"6bcce4d8dd66"},{"_type":"span","marks":[],"text":" to poor health.","_key":"fbce107043b7"}]},{"style":"normal","_key":"c5750c101142","listItem":"bullet","markDefs":[],"children":[{"text":"In 2022,","_key":"db5ec3528c1d0","_type":"span","marks":[]},{"_key":"25cffa8cca96","_type":"span","marks":["strong"],"text":" the White House began encouraging"},{"_type":"span","marks":[],"text":" the use of Medicaid for “health-related social needs.”","_key":"a941b0c59448"}],"level":1,"_type":"block"},{"_type":"block","style":"normal","_key":"73f26b46bd46","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Arizona and Oregon will begin using these waivers to provide rental assistance later this year.","_key":"6f673c7018980"}]}],"summary":"The first states to utilize this strategy will start later this year.","author":{"_ref":"phCNL32Gn","_type":"reference"},"_type":"story","_updatedAt":"2024-02-14T23:58:28Z","id":"6AxrQe1x","image":{"asset":{"mimeType":"image/jpeg","assetId":"667bb1d5f36142adcde5a04a83c6e5e91815aa00","uploadId":"cQ3oYure45kzFg2GhUKm3NPoAlthXjY6","_rev":"xa6YKUwmQKT1QE7KJ6bf9E","size":1543922,"_id":"image-667bb1d5f36142adcde5a04a83c6e5e91815aa00-5100x3400-jpg","_updatedAt":"2024-02-14T23:57:29Z","originalFilename":"sstk-13907540bi.jpg","_type":"sanity.imageAsset","path":"images/8mioycse/v3/667bb1d5f36142adcde5a04a83c6e5e91815aa00-5100x3400.jpg","extension":"jpg","metadata":{"palette":{"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":5.82,"background":"#98866a"},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":2.41,"background":"#3b4b60","_type":"sanity.imagePaletteSwatch"},"muted":{"background":"#98866a","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":5.82},"lightVibrant":{"background":"#f0b9ab","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.69},"darkVibrant":{"background":"#302410","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.6},"lightMuted":{"title":"#fff","population":2.69,"background":"#d4bfad","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"foreground":"#fff","title":"#fff","population":0.01,"background":"#3869b2","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":false,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":5100,"aspectRatio":1.5,"height":3400},"isOpaque":true,"blurHash":"VgK^{UV?R+tRRj?wM{bIxuj[_MflNFj@ogx^%2WBRjj]","_type":"sanity.imageMetadata"},"description":"The city of Phoenix begins cleanup in 'The Zone', a downtown Phoenix homeless encampment in Phoenix, Arizona on May 10, 2023. A judge ordered the city to clean up the city's largest homeless encampment that citing it being a 'public nuisance.' The residents were given advance notice, and are being relocated into suitable housing.","sha1hash":"667bb1d5f36142adcde5a04a83c6e5e91815aa00","url":"https://cdn.sanity.io/images/8mioycse/v3/667bb1d5f36142adcde5a04a83c6e5e91815aa00-5100x3400.jpg","creditLine":"Alexandra Buxbaum/Shutterstock","_createdAt":"2024-02-14T23:57:29Z"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"height":0.969147229421202,"_type":"sanity.imageHotspot","width":0.9109589041095888,"x":0.5,"y":0.5},"_type":"image","attribution":"Shutterstock"},"publishDate":"2024-02-15","_createdAt":"2024-02-14T23:58:28Z"},{"_type":"story","publishDate":"2024-02-05","id":"A3iQ7mEk","author":{"_ref":"phCNL32Gn","_type":"reference"},"_id":"9249df8a-4401-4aac-b83c-4abf9e7f4868","_updatedAt":"2024-02-05T01:09:50Z","category":"economy","_createdAt":"2024-02-04T23:48:01Z","slug":"/story/2024/02/exploring-the-economic-paradox-of-ongoing-tech-industry-layoffs","image":{"hotspot":{"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.9691780821917807,"x":0.5},"_type":"image","attribution":"Giphy","asset":{"uploadId":"zfD41YllExpkFxDVy6SMM3FYykhvsi5r","mimeType":"image/gif","extension":"gif","_rev":"VTZANSW3TtAQLmneqoX0P5","_type":"sanity.imageAsset","_createdAt":"2024-02-04T23:46:28Z","metadata":{"dimensions":{"width":480,"aspectRatio":1.7777777777777777,"height":270,"_type":"sanity.imageDimensions"},"isOpaque":true,"blurHash":"M9HLVW0g0ioP6-0GRzt9oj-A_7vfjGS#v#","_type":"sanity.imageMetadata","palette":{"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":11.31,"background":"#edde7d"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":1.25,"background":"#09273d","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":5.47,"background":"#b89eb8"},"vibrant":{"background":"#b47227","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.94},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":11.31,"background":"#edde7d"},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":0.16,"background":"#34564f","_type":"sanity.imagePaletteSwatch"},"muted":{"population":2.18,"background":"#9a8b5e","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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"},"source":{"name":"Working On It GIF by Adult Swim","id":"LyHXLzLFYQA7IQNl5t","url":"https://giphy.com/gifs/adultswim-adult-swim-layoffs-birdgirl-LyHXLzLFYQA7IQNl5t"},"url":"https://cdn.sanity.io/images/8mioycse/v3/964e9b35fc232333dc962c2402629024f55292cb-480x270.gif","assetId":"964e9b35fc232333dc962c2402629024f55292cb","_id":"image-964e9b35fc232333dc962c2402629024f55292cb-480x270-gif","originalFilename":"c796c182-a924-4737-9b18-4c845b4e8efe.gif","sha1hash":"964e9b35fc232333dc962c2402629024f55292cb","path":"images/8mioycse/v3/964e9b35fc232333dc962c2402629024f55292cb-480x270.gif","size":157956,"_updatedAt":"2024-02-04T23:46:28Z"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0}},"visibility":"true","_rev":"mIbixaGfL54Q38t4wZrivT","body":[{"_type":"block","style":"normal","_key":"acab031a7662","markDefs":[{"_type":"link","href":"https://www.washingtonpost.com/technology/2024/02/03/tech-layoffs-us-economy-google-microsoft/","_key":"afeb4f69c446"}],"children":[{"_type":"span","marks":[],"text":"On one hand, the tech industry has been a major source of stock market gains in recent weeks, which has helped increase optimism about the state of the economy. On the other, the same sector has also been the source of a huge number of ","_key":"cd6659ea4cd80"},{"_type":"span","marks":["afeb4f69c446"],"text":"layoffs","_key":"cd6659ea4cd81"},{"text":" over the same period, suggesting that the economy","_key":"cd6659ea4cd82","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" might be on shaky ground","_key":"1dc0be759fed"},{"_type":"span","marks":[],"text":".","_key":"563e129d6a7c"}]},{"_type":"block","style":"normal","_key":"6d646ec4ea69","markDefs":[],"children":[{"_type":"span","marks":[],"text":"So what’s really going on? That's not such an easy question to answer.","_key":"0af23dcce3220"}]},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Competing statistics","_key":"8750e68ae6130"}],"_type":"block","style":"normal","_key":"177eb48e55e8"},{"markDefs":[],"children":[{"marks":[],"text":"In 2023 alone, more than a quarter-million jobs were slashed in the sector. Some say it was a correction to post-pandemic over hiring, but that doesn’t make it any easier for workers who received a pink slip.","_key":"d93d3b9f40270","_type":"span"}],"_type":"block","style":"normal","_key":"b67a9ec11bbb"},{"markDefs":[],"children":[{"_key":"7db7b2d5abe00","_type":"span","marks":[],"text":"And January’s stats reveal that the trend isn’t reversing in 2024. A bevy of firms, including "},{"_type":"span","marks":["strong"],"text":"Amazon, Google, Microsoft, and PayPal ","_key":"929d1ba85b9c"},{"_type":"span","marks":[],"text":"announced layoffs last month.","_key":"63de2f72cc63"}],"_type":"block","style":"normal","_key":"1eff097a4fe2"},{"markDefs":[],"children":[{"_key":"f5246b6e59430","_type":"span","marks":[],"text":"Taking a step back to view the broader employment market, however, provides a much different perspective. A whopping 353,000 jobs were added in January, which eclipsed expectations."}],"_type":"block","style":"normal","_key":"d464f3ffce44"},{"children":[{"_type":"span","marks":[],"text":"And that brings us to a discussion about why the tech industry is different.","_key":"ea9ddd6019820"}],"_type":"block","style":"normal","_key":"02d79a320e25","markDefs":[]},{"children":[{"_type":"span","marks":["strong"],"text":"It’s more than COVID","_key":"4e99a1bbeec30"}],"_type":"block","style":"normal","_key":"e80f8c620fb6","markDefs":[]},{"style":"normal","_key":"5e9a895dc8b3","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Sure, the pandemic was a big factor. Consumers who socked away money during the lockdowns spent a lot of that cash on tech products, but that spending has cooled off significantly. As a result,","_key":"0a30d2f184bb0"},{"_type":"span","marks":["strong"],"text":" these companies have had to tighten their belts","_key":"3e615a69ea61"},{"_type":"span","marks":[],"text":" to remain profitable — and that naturally involves layoffs.","_key":"314693014600"}],"_type":"block"},{"_type":"block","style":"normal","_key":"16b35b0da9e2","markDefs":[],"children":[{"_key":"6b5a25739c330","_type":"span","marks":[],"text":"But then there’s AI, which has allowed companies to do more with less. And it doesn’t look like that’s going to be changing anytime soon."}]},{"_key":"d77845982194","markDefs":[],"children":[{"_type":"span","marks":[],"text":"These changes might not be great for workers, but they’ve been a boon for the companies. After the tech-heavy Nasdaq Composite","_key":"d128d94165b80"},{"_type":"span","marks":["strong"],"text":" dropped by about 33%","_key":"b9ce2274dca7"},{"_type":"span","marks":[],"text":" in 2022, it rebounded last year","_key":"7729513fe3e9"},{"_type":"span","marks":["strong"],"text":" to add a massive 43%","_key":"14da845a1629"},{"_type":"span","marks":[],"text":" to its value.","_key":"9b6d65d30e7d"}],"_type":"block","style":"normal"}],"title":"Exploring The Economic Paradox Of Ongoing Tech Industry Layoffs","summary":"Big Tech has been fueling market gains even as workers lose their jobs."},{"summary":"It all adds up to more evidence that we're in a strange economic situation.","_createdAt":"2024-01-26T20:55:10Z","slug":"/story/2024/01/whatever-happened-to-that-recession-economists-have-been-predicting","category":"economy","author":{"_ref":"phCNL32Gn","_type":"reference"},"body":[{"_key":"706148d33d1e","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The U.S. economy has faced","_key":"bc4ba666b7d40"},{"marks":["strong"],"text":" a number of problems","_key":"84a5bc8c3289","_type":"span"},{"_type":"span","marks":[],"text":" over the past several years — a pandemic shutdown, widespread supply-chain interruptions, and rampant inflation, to name a few. But one thing we haven’t seen (despite widespread forecasts by economists) is a recession … at least not yet.","_key":"20390759be64"}],"_type":"block","style":"normal"},{"_key":"38c1fa1607a9","markDefs":[{"_type":"link","href":"https://www.nytimes.com/2024/01/26/business/economy/economy-recession-soft-landing.html","_key":"d79100a92f8d"}],"children":[{"marks":[],"text":"Let’s ","_key":"e4778c07da6e0","_type":"span"},{"_type":"span","marks":["d79100a92f8d"],"text":"explore","_key":"e4778c07da6e1"},{"text":" why so many forecasters got it so wrong.","_key":"e4778c07da6e2","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":["strong"],"text":"An unprecedented situation","_key":"8fd013d9c4bd0"}],"_type":"block","style":"normal","_key":"3fddb6d729b2","markDefs":[]},{"style":"normal","_key":"7e596a06880c","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As anyone who lived through 2020 will attest, it was a pretty bizarre time. People were afraid, lives were being disrupted, and many forms of commerce were brought to a standstill.","_key":"0498776985690"}],"_type":"block"},{"_type":"block","style":"normal","_key":"cdd30319c777","markDefs":[],"children":[{"_key":"d5dc3fd3871e0","_type":"span","marks":[],"text":"And in retrospect, chief economist Matthew Luzzetti of Deutsche Bank, which predicted a recession last year, admitted such forecasts were based on an understanding of the economy"},{"_type":"span","marks":["strong"],"text":" that might not be accurate","_key":"8709046f67c4"},{"_type":"span","marks":[],"text":" today.","_key":"c2ba99ed14f8"}]},{"_key":"bffcabdb7db4","markDefs":[],"children":[{"_type":"span","marks":[],"text":"“It was always going to be difficult to forecast what an economy was going to look like emerging from a mostly unprecedented pandemic,” he said.","_key":"558b2b5b6bb80"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"dbc168ca4889","markDefs":[],"children":[{"_key":"a4e64baf0bf60","_type":"span","marks":["strong"],"text":"Defying the expectation"}]},{"_key":"1855cc1311c9","markDefs":[],"children":[{"_type":"span","marks":[],"text":"When the pandemic was over and consumer demands spike, inflation took a foothold. Then the central bank raised interest rates, which has historically signaled a looming recession.","_key":"3b1bc1e978150"}],"_type":"block","style":"normal"},{"_key":"684a83afa0c3","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Instead, we got:","_key":"4f529d89842a0"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_key":"489c954ff7140","_type":"span","marks":[],"text":"An "},{"_type":"span","marks":["strong"],"text":"economy that grew","_key":"f86cb504bbde"},{"_type":"span","marks":[],"text":" more than 3% in 2023","_key":"86c8c99b47ff"}],"level":1,"_type":"block","style":"normal","_key":"364e0e3b743b","listItem":"bullet"},{"style":"normal","_key":"b0e44b21eeb1","listItem":"bullet","markDefs":[],"children":[{"text":"An","_key":"e713af26daaf0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" unemployment rate","_key":"fc4b9f2734a1"},{"marks":[],"text":" that is still at historic lows","_key":"c0d22d453ff3","_type":"span"}],"level":1,"_type":"block"},{"_type":"block","style":"normal","_key":"bcf5fc5d39af","listItem":"bullet","markDefs":[],"children":[{"text":"An","_key":"cefa83d330a50","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" inflation rate","_key":"dd99e68b0656"},{"text":" that is nearly down to the Fed’s goal","_key":"c17493de9406","_type":"span","marks":[]}],"level":1},{"markDefs":[],"children":[{"text":"All of that happened when interest rates were at levels we haven’t seen in a generation.","_key":"a09c93b9b74e0","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"e08eaeeb7dfd"},{"children":[{"_key":"13e41eb1aaec0","_type":"span","marks":["strong"],"text":"What happens next"}],"_type":"block","style":"normal","_key":"aaf61d787638","markDefs":[]},{"_key":"8237ac73dec1","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The big question remains: Is there still a recession coming? Obviously, it’s impossible to predict the future — but former Treasury Secretary Lawrence Summers is revising his take on a “soft landing” by which inflation returns to normal without triggering a recession.","_key":"eaa0a6662ef30"}],"_type":"block","style":"normal"},{"_key":"b2abd9d1f8df","markDefs":[],"children":[{"_type":"span","marks":[],"text":"He previously described such a scenario as “","_key":"71fcb05e62da0"},{"text":"the triumph of hope over experience","_key":"f8169ffe03d0","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":"” but now admits: “This is looking like a case where hope has triumphed over experience.”","_key":"465836283699"}],"_type":"block","style":"normal"}],"_type":"story","publishDate":"2024-01-27","title":"Whatever Happened To That Recession Economists Have Been Predicting?","visibility":"true","id":"Eyg92rgN","image":{"attribution":"Giphy","asset":{"_type":"sanity.imageAsset","sha1hash":"fca35dafe94f3f6f7cd101c4c655717d9c760e78","source":{"name":"Cary Elwes Disney Plus GIF by Disney+","id":"J1vUzqdZJlh5AqBWxt","url":"https://giphy.com/gifs/disneyplus-the-princess-bride-theprincessbride-J1vUzqdZJlh5AqBWxt"},"url":"https://cdn.sanity.io/images/8mioycse/v3/fca35dafe94f3f6f7cd101c4c655717d9c760e78-480x270.gif","size":4698519,"_createdAt":"2024-01-26T20:53:57Z","_updatedAt":"2024-01-26T20:53:57Z","path":"images/8mioycse/v3/fca35dafe94f3f6f7cd101c4c655717d9c760e78-480x270.gif","assetId":"fca35dafe94f3f6f7cd101c4c655717d9c760e78","originalFilename":"7060b2ab-8fba-4529-b44c-3c248236c390.gif","extension":"gif","_rev":"x85C0o6nGPFIdPQ9kOkbVd","_id":"image-fca35dafe94f3f6f7cd101c4c655717d9c760e78-480x270-gif","metadata":{"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777,"height":270},"isOpaque":true,"blurHash":"MDA,wakYD*ad-;_4kYt7aeoztSbcWDoeR*","_type":"sanity.imageMetadata","palette":{"lightVibrant":{"population":0,"background":"#e0b098","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"darkVibrant":{"background":"#442414","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.08},"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":1.7,"background":"#9da6aa"},"vibrant":{"population":0,"background":"#c56839","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"dominant":{"foreground":"#fff","title":"#fff","population":7.97,"background":"#82817c","_type":"sanity.imagePaletteSwatch"},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":7.57,"background":"#483f32","_type":"sanity.imagePaletteSwatch"},"muted":{"population":7.97,"background":"#82817c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"}}},"uploadId":"Iw06PZBs38ziL0rXKIp6rAgn3JMh5tgA","mimeType":"image/gif"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"_type":"sanity.imageHotspot","width":0.9315068493150683,"x":0.5,"y":0.5,"height":1},"_type":"image"},"_rev":"x85C0o6nGPFIdPQ9kOkfC9","_updatedAt":"2024-01-26T20:55:10Z","_id":"ad9012c9-e19d-422b-b846-5737d92a7519"},{"summary":"Some say it could cause more long-term harm than short-term good.","id":"40VGCudM","category":"economy","_rev":"A4Z2YE3kto6obuRr7OqLmR","_createdAt":"2024-01-16T01:23:44Z","body":[{"markDefs":[{"_type":"link","href":"https://www.nytimes.com/2024/01/15/us/politics/iowa-caucus-2024.html","_key":"c119e3b5bca9"}],"children":[{"_type":"span","marks":[],"text":"The economy is still on uncertain ground and tax season is rapidly approaching, so it’s not surprising that many Americans are worried about their personal finances. For their part, lawmakers across the political spectrum seem to be aware of this public sentiment and there’s some ","_key":"78f424fabbd80"},{"_type":"span","marks":["c119e3b5bca9"],"text":"discussion","_key":"78f424fabbd81"},{"_type":"span","marks":[],"text":" about whether a new budget deal should include","_key":"78f424fabbd82"},{"_type":"span","marks":["strong"],"text":" roughly $70 billion in incentives","_key":"b67629836247"},{"text":" like tax breaks for households and businesses.","_key":"0174612b9ca4","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"4fa7aa558bb8"},{"_key":"a9c5c69703db","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"What would it mean?","_key":"f6961ef34d9c0"}],"_type":"block","style":"normal"},{"_key":"c95771787cee","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Giving struggling families and entrepreneurs a boost would certainly address some short-term problems, but critics say it could also prolong the broader economy’s rough patch. Specifically,","_key":"bfd532d769530"},{"text":" more spending would likely fuel inflation","_key":"e2934271359f","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":", which ticked higher than expected last month.","_key":"c983aee0c6b0"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"The debate is on … and time is starting to run out. A pair of upcoming deadlines (Jan. 19 and Feb. 2) will determine whether there’s a government shutdown. And if the stimulus is approved, it would likely address a couple of key groups:","_key":"bcafa0718f9e0"}],"_type":"block","style":"normal","_key":"11b596682454"},{"_key":"c8f4c34db761","listItem":"bullet","markDefs":[],"children":[{"marks":["strong"],"text":"Tax breaks for businesses","_key":"e5f61c617dd50","_type":"span"},{"_type":"span","marks":[],"text":": One aspect of the proposed deal would reintroduce incentives meant to spark investment in domestic companies, though naysayers wonder whether the payoff would be worth the cost.","_key":"3e3295cac4f3"}],"level":1,"_type":"block","style":"normal"},{"listItem":"bullet","markDefs":[],"children":[{"marks":["strong"],"text":"Expanded child tax credit","_key":"5f1c7c8237d00","_type":"span"},{"_type":"span","marks":[],"text":": Although the current proposal falls short of a tax credit for parents that was implemented during the pandemic, if approved it would still constitute an increase from the maximum available right now.","_key":"92e2a14bf380"}],"level":1,"_type":"block","style":"normal","_key":"3319410f67d3"},{"_key":"7cf899c6b6f1","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"What does the White House think?","_key":"305b2c7ab3540"}],"_type":"block","style":"normal"},{"style":"normal","_key":"9f3951fd939c","markDefs":[],"children":[{"marks":[],"text":"Although the debate is playing out on Capitol Hill, any legislative deal would have to be signed by President Joe Biden. And his National Economic Council director is pushing for a “balanced package.”","_key":"d93b4a5a9ca60","_type":"span"}],"_type":"block"},{"_key":"9ab387b591a7","markDefs":[],"children":[{"marks":[],"text":"According to a recent statement from Lael Brainard, the “critical” element for Biden “is that the child tax credit be extended and particularly be made available","_key":"d9ac8d2c87d70","_type":"span"},{"_key":"343c03df3d10","_type":"span","marks":["strong"],"text":" for low and moderate income families"},{"_type":"span","marks":[],"text":", because it is so powerful in reducing child poverty.”","_key":"9aa687b8ee0d"}],"_type":"block","style":"normal"}],"visibility":"true","author":{"_ref":"phCNL32Gn","_type":"reference"},"_type":"story","_id":"1b530f8b-806c-48f6-95af-6e756703571b","slug":"/story/2024/01/congress-is-debating-a-new-stimulus-package-but-is-it-a-good-idea","publishDate":"2024-01-16","_updatedAt":"2024-01-16T01:23:44Z","image":{"_type":"image","attribution":"Shutterstock","asset":{"size":895519,"assetId":"ae160c8923f856aaa1a111e6daaf81e6cf7e6b3c","originalFilename":"sstk-14296352ac.jpg","metadata":{"lqip":"data:image/jpeg;base64,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","dimensions":{"height":2334,"_type":"sanity.imageDimensions","width":3500,"aspectRatio":1.4995715509854328},"isOpaque":true,"blurHash":"Vo9b3CVqWUWYe=TOnze-WYWXXBkDoLafW;V@o#bcaejY","_type":"sanity.imageMetadata","palette":{"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":6.07,"background":"#3b4d61","_type":"sanity.imagePaletteSwatch"},"muted":{"background":"#788593","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.05},"lightVibrant":{"background":"#4e9de6","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":5.98},"darkVibrant":{"title":"#fff","population":1.12,"background":"#0a3061","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightMuted":{"background":"#c2a4a5","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":5.78},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.81,"background":"#1071d2"},"dominant":{"background":"#3b4d61","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.07}},"hasAlpha":false},"_rev":"A4Z2YE3kto6obuRr7OqGsR","_type":"sanity.imageAsset","mimeType":"image/jpeg","sha1hash":"ae160c8923f856aaa1a111e6daaf81e6cf7e6b3c","description":"Representative Deborah Ross (D-NC) speaks at a press conference outside of the U.S. Capitol in Washington, D.C. on January 11, 2024 about government funding and the House GOP's proposed spending cuts.","_createdAt":"2024-01-16T01:22:26Z","_updatedAt":"2024-01-16T01:22:26Z","extension":"jpg","url":"https://cdn.sanity.io/images/8mioycse/v3/ae160c8923f856aaa1a111e6daaf81e6cf7e6b3c-3500x2334.jpg","path":"images/8mioycse/v3/ae160c8923f856aaa1a111e6daaf81e6cf7e6b3c-3500x2334.jpg","creditLine":"Bryan Olin Dozier/NurPhoto/Shutterstock","_id":"image-ae160c8923f856aaa1a111e6daaf81e6cf7e6b3c-3500x2334-jpg","uploadId":"lfx500kE6qVnANXqfoXgl9U4IcsZwvey"},"crop":{"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0},"hotspot":{"width":0.9315068493150682,"x":0.4657534246575341,"y":0.45629190834670286,"height":0.9125838166934057,"_type":"sanity.imageHotspot"}},"title":"Congress Is Debating A New Stimulus Package, But Is It A Good Idea?"},{"summary":"The current economy is putting the pressure on millions of Americans.","_createdAt":"2024-01-11T23:12:57Z","_id":"21b4f404-f8c8-4da2-b014-45d418c44df3","_updatedAt":"2024-01-11T23:12:57Z","category":"economy","_type":"story","body":[{"style":"normal","_key":"164d06744358","markDefs":[{"href":"https://www.axios.com/2024/01/11/us-economy-renters-homeowners-axios-vibes","_key":"7485cfc6e4ad","_type":"link"}],"children":[{"_type":"span","marks":[],"text":"The real estate market has been kind of crazy in recent years with both ","_key":"15c699f460d20"},{"text":"home prices and interest rates ","_key":"f21e30b0727a","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":"hitting uncomfortable levels. As those figures start to moderate, researchers are gaining new ","_key":"3649ed7d0331"},{"_type":"span","marks":["7485cfc6e4ad"],"text":"insight","_key":"15c699f460d21"},{"marks":[],"text":" on how homeowners feel about their finances compared to those who rent.","_key":"15c699f460d22","_type":"span"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"And the survey says…","_key":"605fe11a53960"}],"_type":"block","style":"normal","_key":"d709f5c6af57"},{"style":"normal","_key":"93e5e70d53e1","markDefs":[],"children":[{"text":"A new Harris Poll survey found that renters were","_key":"754a90f9ef030","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" nearly twice as likely ","_key":"5f61396203fb"},{"_type":"span","marks":[],"text":"(57% to 29%) to describe their personal financial situation as “poor.”","_key":"92be1818b5c8"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"So what’s going on? Experts say that renters feel as if properties are becoming less affordable while those who own their homes are basking in the knowledge that their investments are generally gaining value.","_key":"866d307391980"}],"_type":"block","style":"normal","_key":"f147ad102985"},{"_type":"block","style":"normal","_key":"bac2d82afd64","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Of course, this isn’t true in every case, but by and large this seems to be a pretty good time to be a homeowner. But if you’re thinking about taking the plunge, be warned: The average mortgage rate for current homeowners is somewhere around 3.5%, but","_key":"58cca249e3690"},{"marks":["strong"],"text":" it’s roughly twice that high","_key":"b950fbd89aa6","_type":"span"},{"marks":[],"text":" for people trying to get a mortgage right now.","_key":"4af226dfb42f","_type":"span"}]},{"style":"normal","_key":"7e9dafdef87c","markDefs":[],"children":[{"_key":"5a4c24b167960","_type":"span","marks":["strong"],"text":"It wasn’t always this way"}],"_type":"block"},{"children":[{"_type":"span","marks":[],"text":"What a difference an economic crisis makes. In the aftermath of the pandemic-related downturn, rental prices have quickly outpaced wages in communities nationwide:","_key":"ea85ecdf334f0"}],"_type":"block","style":"normal","_key":"8e6497de6761","markDefs":[]},{"_key":"b2b001ba61da","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Almost","_key":"515da2fd2f530"},{"marks":["strong"],"text":" half of all renters","_key":"3eca4e6c571e","_type":"span"},{"_type":"span","marks":[],"text":" said they had been unable to afford at least one bill in the past month.","_key":"92b09787d93a"}],"level":1,"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"The median rental price is","_key":"b86ce90ed1560"},{"text":" a staggering 40% higher","_key":"c5fef6ba6115","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":" than it was before COVID-19.","_key":"c51084076a7f"}],"level":1,"_type":"block","style":"normal","_key":"913dfaba6adb","listItem":"bullet"},{"listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"During that same period, hourly wages have only increased","_key":"a8dfb6e0af840"},{"_type":"span","marks":["strong"],"text":" by about 20%","_key":"08adeae4d2f6"},{"_key":"9b382e1d8596","_type":"span","marks":[],"text":"."}],"level":1,"_type":"block","style":"normal","_key":"a67e341cca00"},{"listItem":"bullet","markDefs":[],"children":[{"_key":"d95565b995190","_type":"span","marks":[],"text":"In 2022, the typical household had to spend"},{"_type":"span","marks":["strong"],"text":" more than 30%","_key":"93e55e3a70bb"},{"_type":"span","marks":[],"text":" of its income on rent.","_key":"0dc02e493c8d"}],"level":1,"_type":"block","style":"normal","_key":"15d7edd40951"},{"_key":"03ca8d6de683","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Following the 2008 economic crisis, however, housing prices dropped precipitously as the cost of rent stayed pretty much constant. In 2010, ","_key":"129faff16a6b0"},{"_type":"span","marks":["strong"],"text":"more than half of bankruptcy claims","_key":"20f41dc4fc85"},{"_type":"span","marks":[],"text":" were made by homeowners — and now that number is down to just 23.4%.","_key":"66cd65065637"}],"_type":"block","style":"normal"}],"id":"qF6M9JpL","_rev":"EjU9fE3cAMHW1YyVOkmMsb","visibility":"true","publishDate":"2024-01-12","slug":"/story/2024/01/renters-vs-homeowners-why-one-group-is-feeling-a-bigger-economic-pinch","image":{"crop":{"right":0,"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop"},"hotspot":{"height":0.7480357069398165,"_type":"sanity.imageHotspot","width":0.643835616438356,"x":0.321917808219178,"y":0.6259821465300918},"_type":"image","attribution":"Shutterstock","asset":{"uploadId":"YId5NCTmptr8mby01TMKFkPYu5MazzX8","path":"images/8mioycse/v3/cfe6dafb3ceb766b2765f3cd133212454babe4e4-5616x3744.jpg","originalFilename":"sstk-13920259th.jpg","extension":"jpg","metadata":{"isOpaque":true,"blurHash":"VCGSfd00IBIV9FT5D%-nNFxbMe4q-:NF-:9sM_xbIVt6","_type":"sanity.imageMetadata","palette":{"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0,"background":"#e2b697"},"darkVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.74,"background":"#0a3962"},"lightMuted":{"foreground":"#000","title":"#fff","population":2.07,"background":"#a5b0c6","_type":"sanity.imagePaletteSwatch"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0,"background":"#bc6c34"},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":10.56,"background":"#316536"},"_type":"sanity.imagePalette","darkMuted":{"background":"#316536","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":10.56},"muted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":1.42,"background":"#56749f"}},"hasAlpha":false,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":5616,"aspectRatio":1.5,"height":3744}},"_createdAt":"2024-01-11T23:11:17Z","_id":"image-cfe6dafb3ceb766b2765f3cd133212454babe4e4-5616x3744-jpg","_updatedAt":"2024-01-11T23:11:17Z","sha1hash":"cfe6dafb3ceb766b2765f3cd133212454babe4e4","creditLine":"Andy Dean/imageBROKER/Shutterstock","url":"https://cdn.sanity.io/images/8mioycse/v3/cfe6dafb3ceb766b2765f3cd133212454babe4e4-5616x3744.jpg","_type":"sanity.imageAsset","mimeType":"image/jpeg","size":991452,"assetId":"cfe6dafb3ceb766b2765f3cd133212454babe4e4","_rev":"EjU9fE3cAMHW1YyVOkkX4r","description":"Owner, renter green road sign over dramatic clouds and sky"}},"author":{"_type":"reference","_ref":"phCNL32Gn"},"title":"Renters Vs. Homeowners: Why One Group Is Feeling A Bigger Economic Pinch"},{"slug":"/story/2024/01/real-estate-in-this-often-forgotten-region-of-the-us-is-starting-to-heat-up","title":"Real Estate In This Often Forgotten Region Of The US Is Starting To Heat Up","_rev":"uCt6W14uwyWnTlqvWB0pRK","category":"economy","body":[{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"For generations, the so-called “Rust Belt” has been overlooked by many people looking to relocate. But despite its arguably unappealing name, there’s","_key":"9758068efc540"},{"_type":"span","marks":["strong"],"text":" a lot that this area of the country has to offer","_key":"dc92736e4442"},{"_type":"span","marks":[],"text":".","_key":"d5398f0f2037"}],"_type":"block","style":"normal","_key":"d3f6d879c564"},{"markDefs":[{"_key":"b385dd3179db","_type":"link","href":"https://www.axios.com/2024/01/10/zillow-ranking-hottest-real-estate-markets-us-2024"}],"children":[{"_type":"span","marks":[],"text":"And as we head into an uncertain economic future, the biggest selling point seems to be the ","_key":"f280a626bd300"},{"_type":"span","marks":["b385dd3179db"],"text":"affordability","_key":"f280a626bd301"},{"_key":"f280a626bd302","_type":"span","marks":[],"text":" factor."}],"_type":"block","style":"normal","_key":"db702c303b6e"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Beyond the belt","_key":"828ccb4dc8000"}],"_type":"block","style":"normal","_key":"ea07d36e4c22"},{"_type":"block","style":"normal","_key":"3702a3f8c0da","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Real estate platform Zillow recently compiled a list of cities it predicts will be among the hottest markets this year. ","_key":"085f35b7b9ca0"},{"_key":"995f8abdccde","_type":"span","marks":["strong"],"text":"The top three slots"},{"_type":"span","marks":[],"text":" are reserved for cities in and around the Rust Belt (which was known as the ‘Steel Belt’ until that industry largely dried up).","_key":"166505b7afce"}]},{"style":"normal","_key":"95b795aeeb62","markDefs":[],"children":[{"_type":"span","marks":[],"text":"They include:","_key":"7bbb33d4f34d0"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Buffalo, New York","_key":"ebc5d1fb60460"}],"level":1,"_type":"block","style":"normal","_key":"a4c33b027c5a","listItem":"bullet"},{"level":1,"_type":"block","style":"normal","_key":"4f1420345fb0","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Cincinnati, Ohio","_key":"a6ecaffb692f0"}]},{"children":[{"_type":"span","marks":[],"text":"Cleveland, Ohio","_key":"c5b6cf64178e0"}],"level":1,"_type":"block","style":"normal","_key":"a7b08707e49b","listItem":"bullet","markDefs":[]},{"_type":"block","style":"normal","_key":"e8334ecf7f45","markDefs":[],"children":[{"_key":"77b9015338060","_type":"span","marks":[],"text":"But there are other areas of the country that are also prominently displayed in Zillow’s top 10, including cities across the South, the Midwest, and adjacent to the Great Lakes."}]},{"markDefs":[],"children":[{"marks":[],"text":"In addition to the relatively low cost of living in these areas, analysts say they’ve emerged as hot markets due to the fact that r","_key":"b523a9d4e3860","_type":"span"},{"_type":"span","marks":["strong"],"text":"emote work has opened up job opportunities","_key":"06b93a40ce08"},{"marks":[],"text":" outside of the nation’s biggest cities.","_key":"81df7c27dce0","_type":"span"}],"_type":"block","style":"normal","_key":"c6707ef5f0fd"},{"children":[{"_key":"12c436df91650","_type":"span","marks":["strong"],"text":"On the other hand"}],"_type":"block","style":"normal","_key":"86db6f7a3398","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"When certain regions heat up, that means","_key":"82062defd9890"},{"_type":"span","marks":["strong"],"text":" others must cool down","_key":"fc631c628489"},{"text":". And Zillow offered some insight into which areas are not expected to see much, if any, growth in 2024.","_key":"7dd0b5e98388","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"fd59ebaaa9e3"},{"children":[{"_type":"span","marks":[],"text":"Rounding out the bottom of the list are cities including Minneapolis, Houston, Denver, San Antonio, and New Orleans.","_key":"ac832c4e895d0"}],"_type":"block","style":"normal","_key":"9a9d21e6c629","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Just as higher demand is likely to push housing costs up in the hotter markets,","_key":"d16a45c166720"},{"text":" home values could be set to drop","_key":"d1076bdd3253","_type":"span","marks":["strong"]},{"marks":[],"text":" in these cooler areas, potentially fueling a future list with these cities back near the top.","_key":"006890f86f0c","_type":"span"}],"_type":"block","style":"normal","_key":"83241186c541"},{"style":"normal","_key":"8d61c3e89a3a","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As Zillow data scientist Anushna Prakash explained, strong housing markets emerge “where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity.”","_key":"4052f739a4900"}],"_type":"block"}],"image":{"attribution":"Zillow","asset":{"mimeType":"image/jpeg","url":"https://cdn.sanity.io/images/8mioycse/v3/554b7580edd278f53a4d9cd30ffc8f37560b8f9c-1920x1080.jpg","_createdAt":"2024-01-11T00:22:23Z","_rev":"8nyshk7okP6N8Q6fFkLFU9","size":81560,"_id":"image-554b7580edd278f53a4d9cd30ffc8f37560b8f9c-1920x1080-jpg","sha1hash":"554b7580edd278f53a4d9cd30ffc8f37560b8f9c","metadata":{"hasAlpha":false,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAALABQDASIAAhEBAxEB/8QAGQAAAgMBAAAAAAAAAAAAAAAAAAQBAwYI/8QAIBAAAgICAgIDAAAAAAAAAAAAAQIAAwQRBSESQSJRYf/EABUBAQEAAAAAAAAAAAAAAAAAAAME/8QAGREAAgMBAAAAAAAAAAAAAAAAAAIBAxEh/9oADAMBAAIRAxEAPwDoLkcrIF9iWr8N6AI9SePrqyCwWnwKrtmBPc0V9VdqasRWH6IvjVoDbpQPXX1Gd1ZeRkkddFiWbL7BTiW2GkDogdDcI5RWippVAEIJYf/Z","dimensions":{"_type":"sanity.imageDimensions","width":1920,"aspectRatio":1.7777777777777777,"height":1080},"isOpaque":true,"blurHash":"MSPj[SB;=x=^s:R*WBXSNds:}V,.XSNdWr","_type":"sanity.imageMetadata","palette":{"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":2,"background":"#ccc6a2"},"vibrant":{"background":"#d7ae46","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":1.66},"dominant":{"population":6.32,"background":"#94e4fc","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000"},"_type":"sanity.imagePalette","darkMuted":{"population":0.98,"background":"#33383c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"muted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.48,"background":"#78a2ae"},"lightVibrant":{"background":"#94e4fc","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":6.32},"darkVibrant":{"title":"#fff","population":0,"background":"#6d5417","_type":"sanity.imagePaletteSwatch","foreground":"#fff"}}},"path":"images/8mioycse/v3/554b7580edd278f53a4d9cd30ffc8f37560b8f9c-1920x1080.jpg","_updatedAt":"2024-01-11T00:22:23Z","extension":"jpg","_type":"sanity.imageAsset","assetId":"554b7580edd278f53a4d9cd30ffc8f37560b8f9c","originalFilename":"1704814650387.jpg","uploadId":"uTRuA5LZfWvYisMfYzBO5I4ghaDsopdD"},"crop":{"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0},"hotspot":{"x":0.3664383561643831,"y":0.5243747867206161,"height":0.8171890995953792,"_type":"sanity.imageHotspot","width":0.7328767123287662},"_type":"image"},"author":{"_ref":"phCNL32Gn","_type":"reference"},"summary":"Affordability is only one of the reasons for its rise in the ranks.","_id":"2f0d7813-963a-42f5-a0fc-08b7e80eaa39","visibility":"true","_type":"story","_updatedAt":"2024-01-11T00:24:28Z","publishDate":"2024-01-11","_createdAt":"2024-01-11T00:24:28Z","id":"uD2WdR52"},{"image":{"asset":{"path":"images/8mioycse/v3/6a863da2b6b9265f1085d0d7f70fe119cb5b460b-5683x4193.jpg","_updatedAt":"2024-01-01T21:57:36Z","extension":"jpg","uploadId":"S3eViD9HZXRCFUJo3st6inMeHpd5F5cW","_rev":"m0kd2z7be8Dsm3U2vJGMXg","description":"Gabrielle Union on the SAG /AFTRA Strike Picket lines in front of Netflix Studios on day 116 of the strike in Hollywood","url":"https://cdn.sanity.io/images/8mioycse/v3/6a863da2b6b9265f1085d0d7f70fe119cb5b460b-5683x4193.jpg","metadata":{"palette":{"vibrant":{"title":"#fff","population":2.89,"background":"#cb8d3e","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"dominant":{"population":6.11,"background":"#2d3e53","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"title":"#fff","population":6.11,"background":"#2d3e53","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"muted":{"title":"#fff","population":5.05,"background":"#627f8b","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"background":"#879fe4","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.11},"darkVibrant":{"population":1.06,"background":"#5d0a17","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightMuted":{"foreground":"#000","title":"#000","population":5.97,"background":"#c2cdde","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":false,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":5683,"aspectRatio":1.3553541616980682,"height":4193},"isOpaque":true,"blurHash":"VFE36myG%J-355E2#6t2Oar?TYEKt8-;s:b_Ini_aekD","_type":"sanity.imageMetadata"},"_type":"sanity.imageAsset","sha1hash":"6a863da2b6b9265f1085d0d7f70fe119cb5b460b","creditLine":"London Entertainment/Splash/Shutterstock","_id":"image-6a863da2b6b9265f1085d0d7f70fe119cb5b460b-5683x4193-jpg","_createdAt":"2024-01-01T21:57:36Z","originalFilename":"sstk-14188055w.jpg","mimeType":"image/jpeg","size":2910888,"assetId":"6a863da2b6b9265f1085d0d7f70fe119cb5b460b"},"crop":{"_type":"sanity.imageCrop","right":0,"top":0,"left":0,"bottom":0},"hotspot":{"width":0.8555956678700342,"x":0.48916967509025255,"y":0.5,"height":1,"_type":"sanity.imageHotspot"},"_type":"image","attribution":"Shutterstock"},"_rev":"w5bEdlhABDOfP4EINdp7FZ","visibility":"true","id":"HoeaKyMZ","category":"economy","publishDate":"2024-01-02","_id":"2c851614-7ef0-4f89-a276-4f116289f53c","_createdAt":"2024-01-01T21:59:27Z","_type":"story","title":"A Few Reasons Why 2023 Might Go Down As The Year Of The Working-Class","slug":"/story/2024/01/a-few-reasons-why-2023-might-go-down-as-the-year-of-the-workingclass","author":{"_ref":"phCNL32Gn","_type":"reference"},"body":[{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Let’s get something out of the way immediately: Inflation has been a huge burden to","_key":"050b94e8bae40"},{"_type":"span","marks":["strong"],"text":" folks from all walks of life ","_key":"c4704f2d235f"},{"_type":"span","marks":[],"text":"in recent years, making it difficult to afford life’s necessities.","_key":"a39def338387"}],"_type":"block","style":"normal","_key":"3c4e8ba1914d"},{"_key":"ea8b62774d39","markDefs":[{"href":"https://www.washingtonpost.com/business/2023/12/30/2023-strikes-workers-american-wages-labor/","_key":"e92e248e6f55","_type":"link"}],"children":[{"_type":"span","marks":[],"text":"But despite it all, last year was filled with some pleasant ","_key":"4b6d4ba756650"},{"text":"surprises","_key":"4b6d4ba756651","_type":"span","marks":["e92e248e6f55"]},{"_type":"span","marks":[],"text":" for blue-collar workers, many of whom are entering 2024 in a much better position than a year ago.","_key":"4b6d4ba756652"}],"_type":"block","style":"normal"},{"style":"normal","_key":"983611f17ca2","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"The union factor","_key":"7a3cdde2241d0"}],"_type":"block"},{"_key":"d462f1075e26","markDefs":[],"children":[{"_type":"span","marks":[],"text":"One major reason so many Americans made substantial gains during 2023 was the impact that strikes (or threats of strike) played in contract negotiations across multiple industries.","_key":"aaaa6fb4b71b0"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"More than","_key":"32cf758933830"},{"text":" half a million workers","_key":"be7239a3cf2d","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":" took part in a strike last year.","_key":"cc5264b505e0"}],"level":1,"_type":"block","style":"normal","_key":"f4e4f3ede8d6","listItem":"bullet","markDefs":[]},{"level":1,"_type":"block","style":"normal","_key":"90427a23d03b","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Autoworkers secured several","_key":"34e91f6543880"},{"marks":["strong"],"text":" important concessions","_key":"4abbc72b2f7e","_type":"span"},{"marks":[],"text":" from the Big Three automakers.","_key":"909919f7e1f3","_type":"span"}]},{"style":"normal","_key":"e2457be5f31c","listItem":"bullet","markDefs":[],"children":[{"text":"Hollywood","_key":"0f55ebf612d60","_type":"span","marks":[]},{"text":" writers and actors","_key":"0520a6ffcd05","_type":"span","marks":["strong"]},{"marks":[],"text":" scored protections during their months-long strike.","_key":"4afdb9210eb2","_type":"span"}],"level":1,"_type":"block"},{"_key":"58c6b33d8927","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Despite pushback from the corporations themselves, unions were","_key":"fb608dda109a0"},{"_type":"span","marks":["strong"],"text":" also able to gain a foothold","_key":"ca31a26a5f05"},{"marks":[],"text":" in other workplaces, including a number of Starbucks locations.","_key":"785765b84e7e","_type":"span"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"58a4ff2a1dfa","markDefs":[],"children":[{"marks":[],"text":"Workers have felt empowered since widespread labor shortages emerged during the pandemic shutdowns, and that helped fuel the unionization efforts behind some of the gains achieved over the course of the past 12 months.","_key":"f47f7bce77bb0","_type":"span"}]},{"children":[{"_type":"span","marks":["strong"],"text":"Economics 101","_key":"0e6802a6f6260"}],"_type":"block","style":"normal","_key":"e4dbcf171ab5","markDefs":[]},{"children":[{"_type":"span","marks":[],"text":"Of course, none of these strikes would have been successful if not for the robust economic landscape that defied most predictions. As 2023 began, analysts far and wide said it was","_key":"a1f42fc35f130"},{"marks":["strong"],"text":" only a matter of time ","_key":"eecdd1479f96","_type":"span"},{"_type":"span","marks":[],"text":"before the unemployment rate started to spike and the U.S. would be mired in a recession.","_key":"9e6abf9b1451"}],"_type":"block","style":"normal","_key":"005c99897e61","markDefs":[]},{"markDefs":[],"children":[{"marks":[],"text":"But those forecasts haven’t come true. Instead, the jobless rate has remained at historic lows","_key":"cff39c2809f20","_type":"span"},{"_type":"span","marks":["strong"],"text":" not seen in nearly 60 years","_key":"b97206ad6b65"},{"_type":"span","marks":[],"text":" and the broad middle class has largely reaped the rewards.","_key":"ad4cee827166"}],"_type":"block","style":"normal","_key":"4b36c70643dd"},{"style":"normal","_key":"2e7820edc1d0","markDefs":[],"children":[{"_type":"span","marks":[],"text":"None of this should suggest that the rich aren’t still getting richer off the work of blue-collar Americans. Nevertheless, 2023 offered some hope that a rising economic tide will lift all boats.","_key":"1e87abd67b1a0"}],"_type":"block"}],"summary":"Several successful strikes helped secure some significant gains.","_updatedAt":"2024-01-01T21:59:27Z"},{"_createdAt":"2023-12-28T01:23:49Z","slug":"/story/2023/12/we-made-it-through-2023-without-a-recession-what-about-2024","body":[{"children":[{"_type":"span","marks":[],"text":"When this year started, we were all mired in stifling inflation and the central bank was hiking up interest rates in a mad dash to reverse the rise of consumer prices. So it was only natural that","_key":"bfffad4f22e70"},{"_type":"span","marks":["strong"],"text":" most analysts predicted a recession ","_key":"195782d9fd98"},{"text":"would likely be in our near future.","_key":"bd92b8cc34c7","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"1bcdef00c22b","markDefs":[]},{"markDefs":[{"_type":"link","href":"https://www.vox.com/24008366/economy-predictions-2024-recession-inflation-growth-jobs","_key":"6db31ccbdb62"}],"children":[{"_type":"span","marks":[],"text":"But here we are just days away from a new year, and the economy (knock on wood) is ","_key":"3111d22a120e0"},{"_type":"span","marks":["6db31ccbdb62"],"text":"barreling","_key":"3111d22a120e1"},{"_type":"span","marks":[],"text":" along at a pretty healthy clip. So should we be optimistic about 2024 or is the other shoe just waiting for the right time to drop?","_key":"3111d22a120e2"}],"_type":"block","style":"normal","_key":"983d8e388f47"},{"children":[{"text":"It’s just too early to tell","_key":"1720ac0593be0","_type":"span","marks":["strong"]}],"_type":"block","style":"normal","_key":"58eab799a6ec","markDefs":[]},{"_type":"block","style":"normal","_key":"ac6c3142d97f","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Sure, there’s very little satisfaction in an answer like “maybe, maybe not,” but it’s worth noting that the general outlook for the future is modestly rosier than it was this time last year. Many experts believe the Federal Reserve has been able to negotiate a “soft landing” whereby inflation decreased to an acceptable rate","_key":"a2dbf5cfdcec0"},{"_key":"c5fc001916a9","_type":"span","marks":["strong"],"text":" without the widespread job losses"},{"text":" and other pains associated with a recession.","_key":"870763acf638","_type":"span","marks":[]}]},{"style":"normal","_key":"3c6f66eef6cb","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Here are the facts as they appear today:","_key":"f7301505d42a0"}],"_type":"block"},{"_type":"block","style":"normal","_key":"6cc0d1c34fd6","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Wall Street has seen ","_key":"0f62076028b50"},{"_key":"291bdb7f20fa","_type":"span","marks":["strong"],"text":"some impressive gains"},{"_key":"9a82c6828a1b","_type":"span","marks":[],"text":" throughout the year"}],"level":1},{"children":[{"_key":"21b90433c4950","_type":"span","marks":[],"text":"The unemployment rate remains "},{"_type":"span","marks":["strong"],"text":"well below 4%","_key":"0276bdd1c7ab"}],"level":1,"_type":"block","style":"normal","_key":"a4d7ca68e9b4","listItem":"bullet","markDefs":[]},{"_key":"34e54019555c","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Inflation is nearly down to the","_key":"a8945ec9334e0"},{"_type":"span","marks":["strong"],"text":" 2% annual rate","_key":"be8d49a4266b"},{"marks":[],"text":" the Fed has been aiming for","_key":"fa58d73494fd","_type":"span"}],"level":1,"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"So it appears that there’s some reason for cautious optimism.","_key":"27f5bbc4518f0"}],"_type":"block","style":"normal","_key":"3a4145d4b61a"},{"style":"normal","_key":"9399da453858","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Time to hedge your bets","_key":"bf1f6d9202ae0"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Of course, just as negative forecasts a year ago didn’t pan out, there’s no guarantee that the positive outlook being shared these days will prove anyone’s clairvoyance. Instead, it’s important to take ","_key":"359049afa4340"},{"_key":"545e12b337b6","_type":"span","marks":["strong"],"text":"a wait-and-see approach "},{"text":"to the economy since there are so many variables in place.","_key":"3a63e47f8a0a","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"da852511a0eb"},{"markDefs":[],"children":[{"text":"Economist Mark Zandi, who was one of the few who wasn’t predicting a recession this year, said of 2024: “","_key":"b7c8a7cae2d70","_type":"span","marks":[]},{"text":"It should be a good year","_key":"376f95202363","_type":"span","marks":["strong"]},{"text":". Probably not as good as 2023.”","_key":"aa8149fb65e1","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"0abdf5898d4f"}],"_updatedAt":"2023-12-28T03:50:49Z","_type":"story","visibility":"true","id":"2jERX00C","author":{"_ref":"phCNL32Gn","_type":"reference"},"_rev":"82FHgd9pw3o6Yf54dWuIPJ","publishDate":"2023-12-28","category":"economy","_id":"74f384f9-10af-48d9-992b-a1795c141378","title":"We Made It Through 2023 Without A Recession. What About 2024?","image":{"attribution":"Giphy","asset":{"size":1119351,"_id":"image-0ba133e77f82c7a88ab2855d96b6ff282d54af81-480x270-gif","extension":"gif","uploadId":"1Lq7riuYYOclHLpkCwKEY5ak5fQLEbP4","sha1hash":"0ba133e77f82c7a88ab2855d96b6ff282d54af81","_createdAt":"2023-12-28T03:50:39Z","_updatedAt":"2023-12-28T03:50:39Z","originalFilename":"Anderson Paak Money.gif","metadata":{"blurHash":"MAJInS02.SD400~pIVRjOFt70gtR9ZSO%M","_type":"sanity.imageMetadata","palette":{"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":9.22,"background":"#b4c9c1"},"vibrant":{"background":"#488ea4","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.06},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":11.1,"background":"#3b4a46"},"_type":"sanity.imagePalette","darkMuted":{"population":11.1,"background":"#3b4a46","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"muted":{"title":"#fff","population":8.39,"background":"#6d8d8e","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"foreground":"#000","title":"#fff","population":0.01,"background":"#a0d4d8","_type":"sanity.imagePaletteSwatch"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":0,"background":"#284f5c","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777,"height":270},"isOpaque":true},"_rev":"82FHgd9pw3o6Yf54dWuHn8","_type":"sanity.imageAsset","path":"images/8mioycse/v3/0ba133e77f82c7a88ab2855d96b6ff282d54af81-480x270.gif","mimeType":"image/gif","url":"https://cdn.sanity.io/images/8mioycse/v3/0ba133e77f82c7a88ab2855d96b6ff282d54af81-480x270.gif","assetId":"0ba133e77f82c7a88ab2855d96b6ff282d54af81"},"_type":"image"},"summary":"Some economists say there's cause for optimism ... within reason."},{"_rev":"82FHgd9pw3o6Yf54cvYQMf","publishDate":"2023-12-22","title":"Are YouTube Philanthropists Changing Our View Of Financial Security?","author":{"_ref":"phCNL32Gn","_type":"reference"},"visibility":"true","_id":"1baacbd1-5437-4d59-8ab8-1a9fdd149a6f","_type":"story","_createdAt":"2023-12-21T23:03:51Z","slug":"/story/2023/12/are-youtube-philanthropists-changing-our-view-of-financial-security","id":"pwFaYxmK","image":{"_type":"image","attribution":"Giphy","asset":{"metadata":{"palette":{"vibrant":{"foreground":"#fff","title":"#fff","population":9.81,"background":"#648cc5","_type":"sanity.imagePaletteSwatch"},"dominant":{"background":"#648cc5","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":9.81},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":0.28,"background":"#2d3957","_type":"sanity.imagePaletteSwatch"},"muted":{"background":"#5773aa","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.52},"lightVibrant":{"background":"#8aade6","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.6},"darkVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0,"background":"#2c3c6c"},"lightMuted":{"background":"#c6b5ac","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":1.02}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"width":480,"aspectRatio":1.791044776119403,"height":268,"_type":"sanity.imageDimensions"},"isOpaque":true,"blurHash":"MXF6hTRORk%0W?yGofxZR%t6ogozaeWEn}","_type":"sanity.imageMetadata"},"_type":"sanity.imageAsset","sha1hash":"56b9a5523f00385da3f76eb204d300e8b240f5ee","url":"https://cdn.sanity.io/images/8mioycse/v3/56b9a5523f00385da3f76eb204d300e8b240f5ee-480x268.gif","source":{"name":"Mr Beast Tournament GIF by YouTube","id":"KO5RuSgyQ7R8MJbh1w","url":"https://giphy.com/gifs/youtube-youtube-originals-mr-beast-creator-games-2-KO5RuSgyQ7R8MJbh1w"},"path":"images/8mioycse/v3/56b9a5523f00385da3f76eb204d300e8b240f5ee-480x268.gif","size":1244694,"uploadId":"rmwVPZZlbI95tQR0JvxZPWvJvZd9hjqF","_rev":"w5bEdlhABDOfP4EIMuPkAf","mimeType":"image/gif","assetId":"56b9a5523f00385da3f76eb204d300e8b240f5ee","extension":"gif","_createdAt":"2023-12-21T23:02:19Z","_id":"image-56b9a5523f00385da3f76eb204d300e8b240f5ee-480x268-gif","_updatedAt":"2023-12-21T23:02:19Z","originalFilename":"ec2c63f9-7079-461e-bb92-3183f1a1da89.gif"},"crop":{"right":0,"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop"},"hotspot":{"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.9178082191780819,"x":0.5}},"category":"economy","_updatedAt":"2023-12-21T23:03:51Z","body":[{"children":[{"_type":"span","marks":[],"text":"Mr. Beast has built a massive following by handing out cash to people in need and random strangers willing to perform crazy stunts.","_key":"7c4d961226150"}],"_type":"block","style":"normal","_key":"eac555b8dd5d","markDefs":[]},{"children":[{"_key":"de0959e10eea0","_type":"span","marks":[],"text":"As a result, more and more people are now"},{"_type":"span","marks":["strong"],"text":" looking to YouTube celebrities","_key":"b133a40560d5"},{"_type":"span","marks":[],"text":" for a path to getting rich quick … even if it means debasing themselves and becoming ","_key":"d6de42ac5027"},{"_type":"span","marks":["94f47779760e"],"text":"fodder","_key":"de0959e10eea1"},{"_type":"span","marks":[],"text":" for the next viral video.","_key":"de0959e10eea2"}],"_type":"block","style":"normal","_key":"f4b0939621ae","markDefs":[{"_key":"94f47779760e","_type":"link","href":"https://techcrunch.com/2023/12/21/mrbeast-american-dream-suzie-taylor/?guccounter=1"}]},{"style":"normal","_key":"5ea8961836f4","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"100 days with a stranger","_key":"73a71d66211d0"}],"_type":"block"},{"_type":"block","style":"normal","_key":"594d09241b4f","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Sure, we’ve seen trends like this in the past. During the heyday of reality TV, shows like “Survivor” and “Fear Factor”","_key":"4e4ca350afb00"},{"_type":"span","marks":["strong"],"text":" promised big cash rewards","_key":"157d25fd7ded"},{"text":" to people who were willing to suffer in the short term.","_key":"b77e9761b656","_type":"span","marks":[]}]},{"children":[{"_type":"span","marks":[],"text":"But we haven’t seen anything quite like Mr. Beast. Take Suzie Taylor and Bailey Stanfield, for example. They were total strangers who signed up to spend 100 days in the same room with nothing but canned food to eat and handmade playing cards to keep themselves entertained.","_key":"14369529e0e00"}],"_type":"block","style":"normal","_key":"dde4aebc8a94","markDefs":[]},{"children":[{"_type":"span","marks":[],"text":"Spoiler alert: They made it to the end and","_key":"4767915452c10"},{"text":" took home $185,000 each","_key":"6f3846ae1699","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":". And both said that they planned to use the money to pay off debt (for Suzie, the goal was to take care of her parents’ debt).","_key":"4da1bcb6e5d5"}],"_type":"block","style":"normal","_key":"2db3adc453a9","markDefs":[]},{"style":"normal","_key":"da4291a40f03","markDefs":[],"children":[{"_key":"f23ac4770b430","_type":"span","marks":["strong"],"text":"The new normal?"}],"_type":"block"},{"_type":"block","style":"normal","_key":"9b9801161b5f","markDefs":[],"children":[{"_key":"d045df32e3250","_type":"span","marks":[],"text":"Mr. Beast has put out a lot of these videos over the past several years, including:"}]},{"_key":"b9e1467febd0","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"$100,000 to","_key":"ac837344462a0"},{"text":" quit your job","_key":"71b97ff0ff0e","_type":"span","marks":["strong"]}],"level":1,"_type":"block","style":"normal"},{"level":1,"_type":"block","style":"normal","_key":"8094d0acad5c","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"$500,000 to","_key":"f18a67ed428a0"},{"text":" stay in a circle ","_key":"5f9190eb9dd1","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":"longer than 99 other contestants","_key":"8661acdaf3cc"}]},{"_type":"block","style":"normal","_key":"33327a80bba7","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"$10,000 a day to ","_key":"8be63e1c4b1b0"},{"_key":"1fec0be540bb","_type":"span","marks":["strong"],"text":"live in a supermarket"}],"level":1},{"children":[{"text":"While it all seems a tad exploitative, ","_key":"e9e0f67991a10","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"we can’t really blame Mr. Beast","_key":"b9ca4e3bc742"},{"_type":"span","marks":[],"text":". Americans are saddled with crushing debt and life is becoming difficult for many of us to afford.","_key":"56c4ec06a677"}],"_type":"block","style":"normal","_key":"fcba9a51400f","markDefs":[]},{"_type":"block","style":"normal","_key":"7cf4fbdd35a2","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As Shawn Hendrix explained when he competed in the last-to-leave-the-circle challenge: “I’ve given up a third of a year of my life for half a million. Make sure you’re trading your life for things that are worth it.”","_key":"556aa7c878630"}]}],"summary":"Some people seem to be waiting for Mr. Beast to come to the rescue."},{"_createdAt":"2023-12-04T23:39:31Z","slug":"/story/2023/12/a-largescale-test-of-basic-income-led-to-this-surprising-conclusion","summary":"Lump sum or monthly payments ... which is more helpful?","_type":"story","id":"o0ndtgYi","title":"A Large-Scale Test Of Basic Income Led To This Surprising Conclusion","image":{"_type":"image","attribution":"Giphy","asset":{"size":1980317,"_createdAt":"2023-12-05T03:05:41Z","_id":"image-15d72e2723949d7dd33ee91a4b47b6684ed39e46-480x249-gif","extension":"gif","metadata":{"palette":{"muted":{"background":"#5b71a5","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.41},"lightVibrant":{"title":"#fff","population":1.19,"background":"#538df3","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"darkVibrant":{"population":0,"background":"#0c1c84","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightMuted":{"title":"#fff","population":1.39,"background":"#b6b7cb","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"title":"#fff","population":9.62,"background":"#374ce1","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":9.62,"background":"#374ce1"},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":0.35,"background":"#543330","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.927710843373494,"height":249},"isOpaque":true,"blurHash":"MOEos7nywXxs4_0GxWt2V=XV_4ozRjjXnz","_type":"sanity.imageMetadata"},"_rev":"MOPWcVEmOZu0vam1TYTeKW","_type":"sanity.imageAsset","mimeType":"image/gif","path":"images/8mioycse/v3/15d72e2723949d7dd33ee91a4b47b6684ed39e46-480x249.gif","assetId":"15d72e2723949d7dd33ee91a4b47b6684ed39e46","_updatedAt":"2023-12-05T03:05:41Z","sha1hash":"15d72e2723949d7dd33ee91a4b47b6684ed39e46","originalFilename":"Andrew Yang.gif","uploadId":"hg9LV06m7H3qIJIi6mwV5sUcwmdEsyrB","url":"https://cdn.sanity.io/images/8mioycse/v3/15d72e2723949d7dd33ee91a4b47b6684ed39e46-480x249.gif"}},"author":{"_ref":"phCNL32Gn","_type":"reference"},"publishDate":"2023-12-05","category":"economy","_id":"eac3a512-894d-4287-b0ca-6ce2b5fec14d","visibility":"true","_updatedAt":"2023-12-05T03:06:09Z","_rev":"MOPWcVEmOZu0vam1TYThEq","body":[{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"While local governments across the U.S. and around the world have been flirting with the notion of “universal basic income” for years, there’s no real consensus regarding","_key":"c985cd63f0540"},{"_type":"span","marks":["strong"],"text":" the most effective way to distribute money","_key":"47514b74537b"},{"_type":"span","marks":[],"text":" to large populations.","_key":"23660396d922"}],"_type":"block","style":"normal","_key":"50014a1008e1"},{"markDefs":[{"_type":"link","href":"https://www.vox.com/future-perfect/2023/12/1/23981194/givedirectly-basic-income-experiment-abhijit-banerjee-tavneet-suri","_key":"656e3e414685"}],"children":[{"marks":[],"text":"Nevertheless, the emerging ","_key":"b7a7872fadba0","_type":"span"},{"_type":"span","marks":["656e3e414685"],"text":"evidence","_key":"b7a7872fadba1"},{"_type":"span","marks":[],"text":" suggests that people can and do benefit from such payments — and they don’t turn into leeches who refuse to work, as some UBI critics might have expected.","_key":"b7a7872fadba2"}],"_type":"block","style":"normal","_key":"0a613b2870e1"},{"style":"normal","_key":"eb6e1c0fd929","markDefs":[],"children":[{"_key":"d3c08b4b110f0","_type":"span","marks":["strong"],"text":"Lump sum vs. monthly payments"}],"_type":"block"},{"markDefs":[],"children":[{"_key":"828e8524903a0","_type":"span","marks":[],"text":"It’s a conundrum you might have considered if you’ve ever bought a lottery ticket. Should you "},{"_type":"span","marks":["strong"],"text":"go for the lump sum payment ","_key":"7a45675a8fab"},{"_type":"span","marks":[],"text":"or receive your winnings spaced out in payments over a period of years?","_key":"3bb15c2b18c7"}],"_type":"block","style":"normal","_key":"2bf97915052f"},{"style":"normal","_key":"8cc79f68a850","markDefs":[],"children":[{"_type":"span","marks":[],"text":"While you’ll probably never have an opportunity to answer that question, thousands of people living in rural Kenya have been engaged in a significantly more modest version since 2016.","_key":"ea1caef603c80"}],"_type":"block"},{"markDefs":[],"children":[{"text":"A charity known as GiveDirectly has been handing out ","_key":"06b28812edc80","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"$20 monthly payments to thousands of individuals","_key":"a2b10d7f9985"},{"_type":"span","marks":[],"text":", but other folks have received an upfront sum equal to about two years worth of monthly handouts. And now the first wave of evidence is starting to emerge.","_key":"2bea58172b65"}],"_type":"block","style":"normal","_key":"3dd4ec9afed8"},{"_key":"8b57a388b2a8","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Identifying the pros and cons","_key":"307369589e190"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"There are significant advantages and disadvantages related to each approach, but one strategy — the lump sum payment — came out as the clear winner. ","_key":"e0abc92b88400"},{"_type":"span","marks":["strong"],"text":"An informal paper published by researchers","_key":"be9aeafe174d"},{"_type":"span","marks":[],"text":" found that those in this group:","_key":"aed1082ff8a0"}],"_type":"block","style":"normal","_key":"24d492dec61c","markDefs":[]},{"listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Earned more money","_key":"994ec9ca77180"}],"level":1,"_type":"block","style":"normal","_key":"9c60f35ca7c6"},{"style":"normal","_key":"778fd9603652","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Received more education","_key":"59525e5cab190"}],"level":1,"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Launched more businesses","_key":"6959701a65c20"}],"level":1,"_type":"block","style":"normal","_key":"e87a605665fd","listItem":"bullet"},{"markDefs":[],"children":[{"_key":"5b0127dd01540","_type":"span","marks":[],"text":"But that doesn’t mean there aren’t advantages to the monthly payments, which can help recipients "},{"_type":"span","marks":["strong"],"text":"create a budget and pay for recurring expenses","_key":"a357af4fb402"},{"_type":"span","marks":[],"text":". And like the lottery example, this long-term experiment suggests asking the individuals whether they would prefer to receive one large payment or monthly smaller ones.","_key":"a8ea6cc36fce"}],"_type":"block","style":"normal","_key":"064eaffd94b7"},{"style":"normal","_key":"b0382a85bade","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The lesson seems to be that money, while it won’t buy happiness, can really help struggling people meet their everyday needs.","_key":"59929d81b08f0"}],"_type":"block"}]},{"_updatedAt":"2023-11-28T21:31:45Z","summary":"The simple reason for the cost increase might not be what you're thinking.","slug":"/story/2023/11/diet-coke-prices-are-sky-high-how-long-until-fans-start-to-revolt","body":[{"style":"normal","_key":"b0dee81e7252","markDefs":[],"children":[{"_key":"39bd076f1e0c0","_type":"span","marks":[],"text":"The jury’s still out regarding how healthy — or unhealthy — frequent consumption of diet soda is, but there’s no denying the fact that it remains "},{"_type":"span","marks":["strong"],"text":"a very popular beverage","_key":"4d0b0a6cded8"},{"_type":"span","marks":[],"text":" for a wide range of consumers who want those sweet, caffeinated bubbles without all the extra sugar.","_key":"24fec5049e5a"}],"_type":"block"},{"markDefs":[{"_type":"link","href":"https://www.vox.com/money/23979340/diet-coke-price-coca-cola-pepsi-inflation-walmart-costco","_key":"035ecf8f835d"}],"children":[{"_type":"span","marks":[],"text":"And year after year, Diet Coke comes out on top among fans, which makes ","_key":"0227004a45800"},{"marks":["035ecf8f835d"],"text":"rising costs","_key":"0227004a45801","_type":"span"},{"_type":"span","marks":[],"text":" all the more frustrating.","_key":"0227004a45802"}],"_type":"block","style":"normal","_key":"20f1cb70e3a9"},{"markDefs":[],"children":[{"text":"It’s not just inflation","_key":"bb385053fc1a0","_type":"span","marks":["strong"]}],"_type":"block","style":"normal","_key":"d9f6ca111344"},{"style":"normal","_key":"f13cfa5e9388","markDefs":[],"children":[{"_type":"span","marks":[],"text":"We’ve all gotten used to the sticker shock that comes with shopping for groceries in recent years, but Diet Coke drinkers might be quick to tell you that there’s something going on with the prices of these cans and bottles that can’t be explained by the overall inflation rate.","_key":"9fba01ef020c0"}],"_type":"block"},{"_type":"block","style":"normal","_key":"83b301407205","markDefs":[],"children":[{"_key":"d0289ec1a2ff0","_type":"span","marks":[],"text":"Graham Starfelt has been drinking up to six cans per day for years. Five years ago or so, that daily habit might have cost him two bucks at the most, but now he says a 12-pack sets him back"},{"_type":"span","marks":["strong"],"text":" about $10 on average.","_key":"249259106e34"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"So what’s going on? Analysts say the root cause is brand loyalty. Since so many Diet Coke drinkers have no interest in buying anything else, they’re more likely to just absorb any price increases they have to in order to keep buying that carbonated elixir they crave.","_key":"277d45c7abac0"}],"_type":"block","style":"normal","_key":"c5ce6ee98a2e"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"An industry-wide trend","_key":"3b01b6a33ebd0"}],"_type":"block","style":"normal","_key":"cead325ebb4d"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Diet Coke appears to be even more insulated from the negative effects of rising costs than some of its competitors, but the soda market in general has been heading in the same direction.","_key":"694b3a67f9b30"}],"_type":"block","style":"normal","_key":"5c2ec80a9435"},{"_key":"5499233cc247","markDefs":[],"children":[{"text":"The St. Louis Fed has been tracking costs in recent years and determined:","_key":"b9946b21a7ae0","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"style":"normal","_key":"d6fe899618b9","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"In April 2018, a can of soda cost ","_key":"373370e0f1cb0"},{"_type":"span","marks":["strong"],"text":"about 34 cents","_key":"550902e0df93"},{"_type":"span","marks":[],"text":" as part of a 12-pack.","_key":"5f9366a54a81"}],"level":1,"_type":"block"},{"listItem":"bullet","markDefs":[],"children":[{"_key":"06729c409f750","_type":"span","marks":[],"text":"That price was "},{"_type":"span","marks":["strong"],"text":"65% higher","_key":"502798ceb3a0"},{"_key":"65f74cb2184f","_type":"span","marks":[],"text":" (or about 56 cents) last month."}],"level":1,"_type":"block","style":"normal","_key":"1e530b3fa6d5"},{"_type":"block","style":"normal","_key":"344bedd50d99","listItem":"bullet","markDefs":[],"children":[{"text":"Diet Coke at restaurants shot up during those years ","_key":"7fab76bc172d0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"from $2.05 to $2.77","_key":"07190bd2b524"},{"text":".","_key":"496002289666","_type":"span","marks":[]}],"level":1}],"_createdAt":"2023-11-28T21:31:45Z","id":"4AfKuhhc","image":{"crop":{"_type":"sanity.imageCrop","right":0,"top":0,"left":0,"bottom":0},"hotspot":{"height":0.9238964992389656,"_type":"sanity.imageHotspot","width":0.8630136986301365,"x":0.5,"y":0.5},"_type":"image","attribution":"Shutterstock","asset":{"mimeType":"image/jpeg","sha1hash":"4c0259c04cd5acdc90eb48b3b543a2a85b455a6a","path":"images/8mioycse/v3/4c0259c04cd5acdc90eb48b3b543a2a85b455a6a-3543x2235.jpg","_createdAt":"2023-07-19T21:02:16Z","extension":"jpg","url":"https://cdn.sanity.io/images/8mioycse/v3/4c0259c04cd5acdc90eb48b3b543a2a85b455a6a-3543x2235.jpg","size":1147329,"assetId":"4c0259c04cd5acdc90eb48b3b543a2a85b455a6a","_updatedAt":"2023-07-19T21:02:16Z","metadata":{"isOpaque":true,"blurHash":"VSJ??JayxFt7ni~VjZaeofWBofa{WBofWC={WBaeofay","_type":"sanity.imageMetadata","palette":{"muted":{"background":"#8aa55a","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.02},"lightVibrant":{"background":"#db8a7e","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":4.55},"darkVibrant":{"background":"#c42215","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":2.01},"lightMuted":{"background":"#d2c6a2","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.1},"vibrant":{"foreground":"#fff","title":"#fff","population":6.88,"background":"#ee170d","_type":"sanity.imagePaletteSwatch"},"dominant":{"title":"#fff","population":6.88,"background":"#ee170d","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":1.83,"background":"#774846","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":false,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":3543,"aspectRatio":1.585234899328859,"height":2235}},"uploadId":"bPM2yTwCm6xLJ6YCseGRTgNA96MVkLqO","_rev":"tluTlKcUB46rsb24lsrYNV","_type":"sanity.imageAsset","_id":"image-4c0259c04cd5acdc90eb48b3b543a2a85b455a6a-3543x2235-jpg","originalFilename":"sstk-13501721av.jpg","description":"Diet Coke packaging are seen in a shop in Chicago, United States on October 19, 2022.","creditLine":"Jakub Porzycki/NurPhoto/Shutterstock"}},"title":"Diet Coke Prices Are Sky High. How Long Until Fans Start To Revolt?","_id":"fc4a4d76-7dc0-41de-bbde-a6ad63af3fdd","author":{"_ref":"phCNL32Gn","_type":"reference"},"_type":"story","publishDate":"2023-11-29","visibility":"true","category":"economy","_rev":"ssAM18Y73h4ADYSDK8989F"},{"_rev":"r0PN3IvDkf0GuQd2iCNitJ","_createdAt":"2023-11-28T00:20:27Z","publishDate":"2023-11-28","title":"Here’s Why Credit Card Debt Is Rising … And Why You Should Care","image":{"crop":{"_type":"sanity.imageCrop","right":0,"top":0,"left":0,"bottom":0},"hotspot":{"_type":"sanity.imageHotspot","width":0.8801369863013695,"x":0.5,"y":0.5,"height":1},"_type":"image","attribution":"Giphy","asset":{"uploadId":"Snc6MIfRxlTWeRtazzlZ9K8yFm7DryKj","size":1234461,"_createdAt":"2023-11-28T00:27:36Z","sha1hash":"60d9c09d80a8410dde0cd63b16816598bebd1d7f","source":{"name":"Credit Card Snl GIF by Saturday Night Live","id":"zhXV4205dFjE6cx5zZ","url":"https://giphy.com/gifs/snl-saturday-night-live-season-47-zhXV4205dFjE6cx5zZ"},"assetId":"60d9c09d80a8410dde0cd63b16816598bebd1d7f","path":"images/8mioycse/v3/60d9c09d80a8410dde0cd63b16816598bebd1d7f-480x268.gif","_id":"image-60d9c09d80a8410dde0cd63b16816598bebd1d7f-480x268-gif","originalFilename":"1e160913-4f59-492a-ad34-07d2890fb0c3.gif","extension":"gif","metadata":{"isOpaque":true,"blurHash":"MHE2^C~V%L8{D%^*xFxZMxM{%2-pxu%MRj","_type":"sanity.imageMetadata","palette":{"darkMuted":{"background":"#57382a","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.78},"muted":{"foreground":"#fff","title":"#fff","population":1.26,"background":"#907569","_type":"sanity.imagePaletteSwatch"},"lightVibrant":{"foreground":"#000","title":"#000","population":0,"background":"#f4e4d4","_type":"sanity.imagePaletteSwatch"},"darkVibrant":{"title":"#fff","population":0.02,"background":"#542e1c","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightMuted":{"background":"#bdb8b1","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":7.97},"vibrant":{"title":"#fff","population":0,"background":"#bf683f","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"dominant":{"background":"#bdb8b1","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":7.97},"_type":"sanity.imagePalette"},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.791044776119403,"height":268}},"mimeType":"image/gif","_updatedAt":"2023-11-28T00:27:36Z","_rev":"gAzu8Y5tTZmfii9VpMwVeB","_type":"sanity.imageAsset","url":"https://cdn.sanity.io/images/8mioycse/v3/60d9c09d80a8410dde0cd63b16816598bebd1d7f-480x268.gif"}},"author":{"_ref":"phCNL32Gn","_type":"reference"},"_id":"c1f00657-20a2-49e4-ae20-4dcb968c1b6e","summary":"The COVID-19 era of consumer savings is officially over.","body":[{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"You might have read news reports throughout the pandemic about how people were able to sock away some extra money. Well, those days are officially over for most of us.","_key":"d70ea7d4eb330"}],"_type":"block","style":"normal","_key":"6e9673605ace"},{"_type":"block","style":"normal","_key":"9f6f579d0de2","markDefs":[{"_type":"link","href":"https://abcnews.go.com/Business/credit-card-debt-reached-record-high-means-economy/story?id=104717977","_key":"8e1da2cbf612"}],"children":[{"marks":[],"text":"In their place are rising costs and mounting credit card debt. On an individual level, high interest rates are making it even more difficult for folks to pay off their balances … but there are also much wider ","_key":"0573e0cc1a490","_type":"span"},{"_type":"span","marks":["8e1da2cbf612"],"text":"ramifications","_key":"0573e0cc1a491"},{"_type":"span","marks":[],"text":".","_key":"0573e0cc1a492"}]},{"_type":"block","style":"normal","_key":"9d548182b0ab","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"The Federal Reserve weighs in","_key":"c1673ca1419a0"}]},{"markDefs":[],"children":[{"text":"America’s central bank has been hiking interest rates in an effort to reverse rising costs that have plagued low-income households in recent years. But that strategy is taking its own toll on cash-strapped consumers.","_key":"3306989a13910","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"e1dcb6b93ee5"},{"_key":"aa4238ec2a5f","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Here’s what the Federal Reserve has reported:","_key":"dc49a4d3d99d0"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"f425986ef9f2","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Credit card debt ","_key":"a97cd87cf0340"},{"_type":"span","marks":["strong"],"text":"rose 5% in the third quarter","_key":"73ea44122354"},{"marks":[],"text":" of the year compared to the prior three-month period.","_key":"daa43143caa5","_type":"span"}],"level":1},{"children":[{"_type":"span","marks":[],"text":"The average rate of savings among Americans has been on ","_key":"1acc301ce5d70"},{"_type":"span","marks":["strong"],"text":"a downward trajectory","_key":"1fec34b5b6d4"},{"_type":"span","marks":[],"text":" since last year.","_key":"9cc0f2c7cc58"}],"level":1,"_type":"block","style":"normal","_key":"b49b9bd1ee2f","listItem":"bullet","markDefs":[]},{"style":"normal","_key":"c36a9cb48444","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"A higher rate of credit card and other accounts (","_key":"eed165b7a8930"},{"marks":["strong"],"text":"about 3% overall","_key":"e958c9fe0dcd","_type":"span"},{"_type":"span","marks":[],"text":") were delinquent between July and September.","_key":"9ee2d3469f6b"}],"level":1,"_type":"block"},{"style":"normal","_key":"6b7781d6b3b3","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Who is bearing the burden?","_key":"dc057ffffc630"}],"_type":"block"},{"_key":"9a8cf541ed46","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As you might imagine, the wealthiest Americans are generally doing just fine despite the economic headwinds. But as lower- and middle-income households turn to high-interest credit cards ","_key":"02d7d1ff9f990"},{"_key":"18b684367b8f","_type":"span","marks":["strong"],"text":"to pay for their necessities"},{"_type":"span","marks":[],"text":", their plight is only getting worse.","_key":"f24800e9b182"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"bd08b85afd21","markDefs":[],"children":[{"_type":"span","marks":[],"text":"And the overall economy is suffering as a result.","_key":"07cc658749780"}]},{"_key":"d9eebc2f701f","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As American University economics professor Mary Hansen explained: “Consumer spending, which we all know is the base of [gross domestic product], is really being held up by credit card debt, and maybe it’s not sustainable.”","_key":"dc2856d8acf50"}],"_type":"block","style":"normal"},{"_key":"506bdadd213b","markDefs":[],"children":[{"_type":"span","marks":[],"text":"University of Massachusetts at Boston public policy professor Christian Weller, on the other hand, suggested that high-income consumers will continue to prop up the broader economy — ","_key":"a4348ebec8e80"},{"text":"at least for now","_key":"7ed26956adc3","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":".","_key":"551e2578db3b"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_key":"505d2307797a0","_type":"span","marks":[],"text":"“Those people still have more cash on hand,” he said."}],"_type":"block","style":"normal","_key":"718a87ba827c"}],"_type":"story","slug":"/story/2023/11/heres-why-credit-card-debt-is-rising-and-why-you-should-care","category":"economy","visibility":"true","_updatedAt":"2023-11-28T00:29:23Z","id":"3uilHzFY"},{"body":[{"markDefs":[{"href":"https://techcrunch.com/2023/11/25/black-friday-2033-e-commerce/","_key":"7e4fb7d3a2d8","_type":"link"}],"children":[{"marks":[],"text":"Today is Cyber Monday, capping off a long weekend of holiday shopping deals that began in earnest on Thanksgiving. Even though plenty of folks across the U.S. and around the world will be hunting for bargains today, early ","_key":"c7b60b1945660","_type":"span"},{"marks":["7e4fb7d3a2d8"],"text":"numbers","_key":"c7b60b1945661","_type":"span"},{"_type":"span","marks":[],"text":" are already in regarding retail sales.","_key":"c7b60b1945662"}],"_type":"block","style":"normal","_key":"434386e593ee"},{"markDefs":[],"children":[{"text":"A digital departure","_key":"79dfc9d2ce2a0","_type":"span","marks":["strong"]}],"_type":"block","style":"normal","_key":"7b2214f615d2"},{"children":[{"_key":"6f1692b55bcb0","_type":"span","marks":[],"text":"If you actually went to a brick-and-mortar store on Black Friday, you probably noticed something was missing: the crowds. The post-Thanksgiving shopping rush once translated to mobs of consumers rushing into Walmart, Best Buy, and a host of other stores before sunup to nab the advertised doorbuster deals."}],"_type":"block","style":"normal","_key":"e5e6cc93e460","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"But just because the foot traffic is down doesn’t mean cost-conscious shoppers aren’t spending big bucks on Black Friday. In fact, estimates from Adobe Analytics determined that U.S. consumers spent just a hair under $10 billion on Friday — an all-time record that represented ","_key":"ebe261843aef0"},{"text":"a 7.5% increase ","_key":"54ad0a0f691d","_type":"span","marks":["strong"]},{"text":"over last year and was roughly $200 million higher than predictions.","_key":"f919d2e58486","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"19557b5a672e"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Salesforce used a different set of data and determined that Black Friday sales actually ","_key":"4e00bc9719d10"},{"text":"topped $16 billion","_key":"c94c1cd83a01","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":".","_key":"49daf5f878cc"}],"_type":"block","style":"normal","_key":"f66ad5b53b78"},{"_key":"925c5bfbb00f","markDefs":[],"children":[{"_key":"0965f06df0ec0","_type":"span","marks":[],"text":"Black Friday spending added to the approximately "},{"_key":"c1b30719fcc8","_type":"span","marks":["strong"],"text":"$5.6 billion spent on Thanksgiving"},{"marks":[],"text":", which itself was about 5.5% higher than 2022 totals.","_key":"72fc121dc83b","_type":"span"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"6489ffb4b5fd","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Belt-tightening trends","_key":"50ee57b610180"}]},{"children":[{"_type":"span","marks":[],"text":"With the continued impact of inflation translating to budgets that are stretched to their limit, it’s no surprise that many shoppers have spent the weekend cashing in on discounts wherever they could find them.","_key":"b262c45752c00"}],"_type":"block","style":"normal","_key":"94164be02f27","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Here’s what analysts found:","_key":"b16b3e60ebe10"}],"_type":"block","style":"normal","_key":"5e6436358ea9"},{"style":"normal","_key":"71b1f5c61113","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Nearly four-fifths of all ","_key":"e76afdc538540"},{"_key":"bb8c991578c9","_type":"span","marks":["strong"],"text":"browsing and buying"},{"_type":"span","marks":[],"text":" originated on smartphones.","_key":"9bb26bd672ea"}],"level":1,"_type":"block"},{"level":1,"_type":"block","style":"normal","_key":"58eb4e77e3d1","listItem":"bullet","markDefs":[],"children":[{"marks":[],"text":"More than","_key":"0d6e908ff0220","_type":"span"},{"_key":"0fdbfece3541","_type":"span","marks":["strong"],"text":" 80% of orders"},{"marks":[],"text":" included standard shipping instead of more expensive expedited options.","_key":"310a828bbf88","_type":"span"}]},{"children":[{"_key":"7c1def97c8d00","_type":"span","marks":[],"text":"Use of “buy now, pay later” options "},{"_type":"span","marks":["strong"],"text":"increased 72% ","_key":"d54fe9a5c919"},{"_key":"2433a0faba97","_type":"span","marks":[],"text":"over last year."}],"level":1,"_type":"block","style":"normal","_key":"204f0dbe63f6","listItem":"bullet","markDefs":[]},{"_type":"block","style":"normal","_key":"148497eee120","markDefs":[],"children":[{"_key":"f5be37c11bff0","_type":"span","marks":[],"text":"After all is said and done, Salesforce’s estimates suggest global sales between Thanksgiving and Cyber Monday could top $53 billion."}]}],"id":"whvpUs6K","summary":"Cyber Monday is set to cap off a long weekend of big retail spending.","image":{"asset":{"source":{"name":"Black Friday Christmas GIF by Target","id":"xUOxeSXjqTCTzkq40w","url":"https://giphy.com/gifs/target-christmas-things-xUOxeSXjqTCTzkq40w"},"assetId":"1548e0de3b9a407a33a30cddce6c14725d8e2bc2","_createdAt":"2023-11-27T01:12:33Z","_rev":"ssAM18Y73h4ADYSDJt9R0v","path":"images/8mioycse/v3/1548e0de3b9a407a33a30cddce6c14725d8e2bc2-400x400.gif","originalFilename":"9a3fee1a-a47e-496e-9be3-bc41bce7d47a.gif","extension":"gif","metadata":{"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":400,"aspectRatio":1,"height":400},"isOpaque":true,"blurHash":"eCI|RX0Ky?-;.R%zQnRPt,xaIAIUozM{o#9F9senZ$M_R.D%IVx]S3","_type":"sanity.imageMetadata","palette":{"muted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.34,"background":"#a55f51"},"lightVibrant":{"background":"#dd776f","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":2.69},"darkVibrant":{"title":"#fff","population":7.32,"background":"#80120c","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightMuted":{"population":1.16,"background":"#ccb9ac","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":3.55,"background":"#c03734"},"dominant":{"foreground":"#fff","title":"#fff","population":7.32,"background":"#80120c","_type":"sanity.imagePaletteSwatch"},"_type":"sanity.imagePalette","darkMuted":{"population":0.16,"background":"#5f3636","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"}},"hasAlpha":true},"uploadId":"JpybECgNwQ6FkOqdcOPDockZJjLjCqC5","url":"https://cdn.sanity.io/images/8mioycse/v3/1548e0de3b9a407a33a30cddce6c14725d8e2bc2-400x400.gif","size":2824526,"_id":"image-1548e0de3b9a407a33a30cddce6c14725d8e2bc2-400x400-gif","_type":"sanity.imageAsset","mimeType":"image/gif","sha1hash":"1548e0de3b9a407a33a30cddce6c14725d8e2bc2","_updatedAt":"2023-11-27T01:12:33Z"},"crop":{"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0,"left":0},"hotspot":{"x":0.5,"y":0.5,"height":0.882352941176471,"_type":"sanity.imageHotspot","width":1},"_type":"image","attribution":"Giphy"},"slug":"/story/2023/11/the-numbers-are-in-black-friday-sales-broke-an-alltime-record-this-year","author":{"_ref":"phCNL32Gn","_type":"reference"},"title":"The Numbers Are In: Black Friday Sales Broke An All-Time Record This Year","_id":"77507656-dc30-4863-9002-30b86e1aad0d","_updatedAt":"2023-11-27T01:13:59Z","_rev":"gAzu8Y5tTZmfii9VpG87dN","_createdAt":"2023-11-27T01:13:59Z","_type":"story","publishDate":"2023-11-27","category":"economy","visibility":"true"}]