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☆ California could 'export inflation' to the rest of the US when it sends up to $10 billion in relief payments this October, a Harvard economist says
▼ + stars: | 2022-09-27 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

California is planning to send residents $10 billion in relief checks to help cope with inflation. Several states have adopted inflation relief measures that could have a similar effect. "These inflation relief payments will export inflation to the rest of the United States — with some showing up in California too," Furman wrote. "Californians are going to come out behind from any 'inflation relief payments' made by Florida and other states," wrote Furman. Additionally, while state relief payments may add some unnecessary fuel to the economy, in Florida for instance, these payments have been targeted towards families in need.

☆ Families in over 20 states are scrambling to place a bet on what their energy bills will be in the future. A wrong decision could cost them hundreds of dollars.
▼ + stars: | 2022-09-27 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

In today's volatile energy market, a wrong decision could cost them hundreds of dollars. Increasing in prevalence in the 1990's, deregulated energy markets have pros and cons, experts say. In today's volatile energy market, a wrong decision could cost them hundreds of dollars. Pros and cons of deregulationIn general, Basseches says he thinks deregulation can help lower a state's energy costs. In Texas for instance, among the "most deregulated" states, he says energy costs are generally "very low."

☆ A 44-year-old mom of 3 made $735,000 last year from a reselling business she launched using just the clothes in her closet
▼ + stars: | 2022-09-25 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Mona Mejia "Everything was selling really quickly"In 2015, Mejia's family was in need of additional income to supplement her husband's pay. When she began listing more items, she noticed that "everything was selling really quickly" and real money was trickling in. It wasn't until roughly a year ago, however — when she started selling on livestreams through Instagram, TikTok, and Facebook, that her business really took off. After working through her closet, Mejia took her earnings and went to yard sales and clearance sections to look for bargain products she could buy and resell. Despite discounting, she says she's able to maintain high levels of profitability by only selling items she bought at especially cheap rates.

☆ The US is adding millionaires at the fastest rate this century while the 'quiet fleecing' of American workers' pay continues
▼ + stars: | 2022-09-22 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +5 min

It's a signal of the "quiet fleecing" of the American worker that's been keeping wages down for decades. "Those trends in hourly wage growth have profound consequences for American living standards and how well people in this country are able to make ends meet. "Quiet fleecing" means lower wages for Americans while the millionaires thriveFor workers, "quiet fleecing" has resulted in decades of wages that haven't kept up with the rising costs of healthcare, housing, and food. A recession could make "quiet fleecing" worseThis inequality could be among the reasons some Americans are "quiet quitting," "acting their wage," or joining the Great Resignation. The consequences could be inflicting an economic downturn of an unnecessary scale, hurting working workers, and ultimately making "quiet fleecing" and inequality worse.

☆ Prices are set to fall for homes, cars, and furniture. It's a sign the Fed may not need to risk a recession that punishes job seekers.
▼ + stars: | 2022-09-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some economists say that means the Federal Reserve doesn't need to squash jobs to cool inflation. Cooling prices might provide less reason for the Federal Reserve to continue its bold campaign to raise interest rates and slow the economy. It did just that on Wednesday, increasing interest rates by another 0.75% to make borrowing more expensive and squash demand. "Will raising interest rates lead to more oil, lower prices of oil, more food, lower prices of food?" "The real worry in my mind is," he added, "will they increase interest rates too high, too fast, too far?"

☆ 'Quiet fleecing' is why you're getting paid less and everyone's talking about quiet quitting and the Great Resignation
▼ + stars: | 2022-09-20 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Since the 1970s, US wage growth has stalled, with the top 1% seeing most of the gains. It's resulted in a "quiet fleecing" of the American worker, according to data analyzed by the Economic Policy Institute. Coined by the Economic Policy Institute, "quiet fleecing" describes decades of stagnant wage growth in the US despite rising productivity and costs of living. In theory, workers' wages rise in tandem with their productivity, or the output they provide to a company. It could be why more workers are getting vocal about quiet quitting, "acting their wage," or joining the Great Resignation.

☆ A 27-year-old college dropout earning $135,000 a year explains 4 things that were more valuable for her career than getting a degree
▼ + stars: | 2022-09-20 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

She has four keys to success for anyone without a college degree. Today, the 27-year-old is earning $135,000 per year as marketing manager for a software-as-a-service company — and has no plans to finish her degree. She says this time in her life was "really, really hard." 4 keys to succeeding without a college degreeTragesser lists four considerations for anyone hoping to find success without a college degree. Some people still ask when she's going to return to get her college degree, but she has no interest in taking on the financial burden.

☆ Work remotely from the ballpark: The Seattle Mariners are trying to bring fans back with perks like food and wifi
▼ + stars: | 2022-09-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

The Seattle Mariners hosted a Work From The Ballpark Day on September 7th. Sign up for our newsletter to receive our top stories based on your reading preferences — delivered daily to your inbox. Faced with the freedom to work from wherever, these workers are evaluating the best offers on the table. In 2005, for instance, despite only finishing with a record of 69-43, Seattle averaged over 33,000 fans per contest. The Mariners have no official plans for another Work From The Ballpark day, but they reportedly "want to do it again."

☆ Gen Z and millennials aren't the only ones quitting their jobs. Gen X is quietly helping drive the Great Resignation.
▼ + stars: | 2022-09-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +3 min

It's not just millennials and Gen Z who are quitting above pre-pandemic levels. For some, it could be driven by a midlife crisis, in which extreme job stress peaks at age 45. For some, it could all come down to a midlife crisis. Record job openings, financial flexibility, and even a midlife crisis have nudged others to explore new opportunities. While these ages are often peak earnings years, it may not translate to job satisfaction — leading many to explore other job opportunities.

☆ Mortgage rates just hit a high not seen since the 2008 housing crash
▼ + stars: | 2022-09-11 | by ( Alcynna Lloyd | Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

More interest rate hikes are on the horizon and that means mortgage rates could climb further. Sam Khater, Freddie Mac's chief economist, says the uptick is attributed to economic volatility that is seeping into the US real estate market. "The combination of higher mortgage rates and the slowdown in economic growth is weighing on the housing market," Khater told Insider. Numerous interest rate hikes have lifted mortgage rates at the fastest pace in decades. The move has effectively put an end to the home buying frenzy that rocked the US real estate market.

The US may not have royals, but it does have families with net worths in the billions. See the top-25 richest families in the US, ranked by net worth, starting at roughly $12 billion. But not all of America's richest families began as entrepreneurs — some were also savvy investors. Below, meet the 25 richest families in the US, ranked from lowest net worth to highest net worth. The rankings were determined by the most up-to-date estimated net worths available from Forbes and Bloomberg.

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