Debts owed by American households climbed to $18.4 trillion in the third quarter, the most ever, according to the Federal Reserve Bank of New York. Student debt also set a record at $1.65 trillion.
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RUTTE WARNS THAT NATO MUST PREPARE FOR A LONG-TERM CONFRONTATION WITH RUSSIA
Mark Rutte, the head of NATO, told a conference in Bucharest last week that the collective West needs to be prepared for a long-term confrontation with Russia and other countries that are not compliant with the current rules-based order that is dictated by Washington and Brussels.
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AS FORECAST: UKRAINE FORCED TO CUT POWER AS RUSSIA INTENSIFIES STRIKES ON ENERGY INFRASTRUCTURE
Ukraine’s state electricity transmission company announced Sunday that Russian attacks on energy infrastructure have left power-generating capacity inside the country at zero, and it was compelled to cut off power across most areas inside the country for up to 16 hours.
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ARAB STATES CONCERNED ABOUT TRUMP’S PLAN FOR A ‘NEW GAZA’ THAT WILL ESSENTIALLY CUT ENCLAVE IN HALF
Arab countries are growing more concerned about the U.S.-Israeli idea of essentially cutting Gaza in half to form a “New Gaza” in the enclave’s east, where IDF troops have been stationed behind a Yellow Line, while Palestinians continue to live in the western part of the enclave.
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YOUNG AMERICANS GETTING PINCHED IN THE JOB MARKET
The Wall Street Journal ran an article last week titled, “The Kids Aren’t Alright” that highlights the struggles that young Americans have had with their employment, from workers at chains like Starbucks and Chipotle to those who work tech jobs that have also dealt with widespread layoffs and job uncertainties—compounded by the risk from AI.
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TOP 10 RICHEST PEOPLE IN THE U.S. SEE NET WEALTH SOAR BY NEARLY $700B IN LAST YEAR
A newly released report by Oxfam found that the top 10 richest people in the U.S. saw their combined net worth increase by $698 billion in the past year, highlighting the widening gap between the country’s richest and everyone else.
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TRUMP TRIES TO RECOVER AFTER REPUBLICAN’S ELECTION DAY BEATING
U.S. President Donald Trump did his best after last week’s elections that saw a small blue wave in the gubernatorial races in New Jersey and Virginia, and a massive breaker in New York City’s mayoral race that resulted in Zohran Mamdani, a Muslim Democratic Socialist, carrying the day.
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ISRAELIS SEE MAMDANI VICTORY AS MAJOR LOSS IN U.S.
The election of Zohran Mamdani, a Muslim Democrat socialist in New York City, sparked anger and dismay in Israel, with officials in the country sending a direct warning to Jews living there that the city is no longer safe for them.
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WALL STREET GANG TRIES TO REGAIN BEARING AFTER MAMDANI’S WIN IN NEW YORK
Wall Street is trying to determine just how Zohran Mamdani, a Democratic Socialist, will serve as mayor of New York City after coming out strongly in opposition to his tax policy and lack of experience in political office.
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MAMDANI’S VICTORY SPEECH
Just hours after Zohran Mamdani, the self-proclaimed Democratic socialist, won the New York City mayoral race, he was criticized for having a change of demeanor from a soft, affable candidate to something more sinister after his victory speech.