I read all 46 pages of the Fed’s latest household debt report.

Total US household debt has reached a record $18.8 trillion. That's $4.6 trillion more than at the end of 2019.

Household debt grew by $740 billion in 2025 alone. That’s more than $2 billion every single day.

Americans now owe $1.25 trillion on their credit cards, near a record high.

13.1% of all credit card balances are at least 90 days late. That’s the highest share in 16 years and near levels seen after the financial crisis.

720,000 people left the U.S. labor force last month.

This pushes the labor force participation rate down to 61.5%, its lowest level since 1976 (outside of the pandemic).

The biggest drop came from prime-age workers, aged 25 to 54.

These are peak working and earning years.

That deserves more attention than it's getting.

BREAKING: PRESIDENT TRUMP REFUSES TO SIGN BIPARTISAN HOUSING BILL

The bill passed 85–5 in the Senate and 358–32 in the House. It would:

• Restrict big investors from buying single-family homes
• Speed up approvals so builders can build more homes
• Create pilot programs for smaller mortgages

The median US home price has now hit $440,600, the highest recorded.

One of the biggest wealth transfers is happening right now.

Free cash flow is moving away from companies building AI products and toward companies selling hardware.

You can now Venmo the US government to help pay down the $39.4 trillion debt.

I wish I was joking.

This map shows the price of electricity across the US right now.

Blue means power is cheap (sometimes below zero).
Yellow means normal.
Red means prices are spiking.

This is the cost behind AI data centers, summer heat, and old infrastructure.

Everyone talks about AI. Fewer people talk about the grid that has to power it.

The next shortage in America will be electricity.

Stanford scientists just solved one of the biggest problems with human aging.

They found a way to regrow joint cartilage.

They blocked an aging-linked protein called 15-PGDH, and the results were massive. Old, worn cartilage began to grow back in older mice. Human cartilage samples also showed signs of new cartilage growth.

This is a massive milestone for human longevity. Actual biological repair. Proof that the body can fix its own parts.

The US economy added just 57,000 jobs in June, half of what economists expected.

The unemployment rate FELL to 4.2%. That sounds like good news until you see why.

720,000 people left the labor force last month. When someone stops looking for work, the government stops counting them as unemployed.

57,000 jobs added. 720,000 people gone. The rate dropped because workers gave up.

The day before Trump paused tariffs and sent the S&P 500 up 9.5%, his investment accounts bought 327 stocks worth up to $12.8 million.

It was one of the biggest one-day market rallies in history.

The trades were disclosed more than a year late.

The penalty was $200.

Parking tickets cost more than that.

The average new car payment just hit $772/month. A record high.

4-year car loans used to be normal. Now buyers are stretching payments to 6, 7, and even 8 years.

1 in 5 financed new-car buyers pays $1,000+ a month.

That’s not a car payment anymore. That’s a second rent check.

Rent is up. Insurance is up. Food is up. Student loans are back. And the average new car is close to $50,000.