News From the Control Tower - 7/15/2021
News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. Inflation Is Still High. Used Car Prices Could Help Explain What Happens Next
Surging prices for used cars have been a major driver of inflation this year. Now, there are signs those price hikes may be shifting into reverse — and that could provide important clues about where inflation is headed next.
2. ‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off
Columbia and other top universities push master’s programs that fail to generate enough income for graduates to keep up with six-figure federal loans
3. California hit by record-breaking fire destruction: ‘Climate change is real, it’s bad’
California is off to another record-breaking year of wildfires as the state enters its most dangerous months, with extreme heat and dry terrain creating the conditions for rapid spread.
4. Apple co-founder Steve Wozniak: 'It's time to recognize the right to repair'
In a post to Louis Rossmann, a YouTube personality and a right-to-repair advocate, Wozniak said that he was "totally supportive" of the cause — which gives consumers the right and information to fix their own devices — and somewhat "emotionally" affected by it.
5. Buy, Borrow, Die: How Rich Americans Live Off Their Paper Wealth
Banks say the wealthy are borrowing more than ever, using low-interest loans backed by their investments
Bonus: ‘I hope you get hit by a car’: After customers berate staff, Cape restaurant shuts for ‘Day of Kindness’