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News From the Control Tower - 7/15/2021 Thumbnail

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’