The American stockmarket has see-sawed lately amid a flare-up in trade tensions, but remains near its all-time high. The surge, fuelled by enthusiasm around artificial intelligence, has drawn comparisons to the exuberance of the late 1990s that culminated in the dotcom crash of 2000. Though technological innovation is undeniably reshaping industries and increasing productivity, there are good reasons to worry that the current rally may be setting the stage for another painful market correction. The consequences of such a crash, however, could be far more severe and global in scope than those felt a quarter of a century ago.

At the heart of this concern is the sheer scale of exposure, both domestic and international, to American equities. Over the past decade and a half, American households have significantly increased their holdings in the stockmarket, encouraged by strong returns and the dominance of American tech firms. Foreign investors, particularly from Europe, have for the same reasons poured capital into American stocks, while simultaneously benefiting from the dollar’s strength. This growing interconnectedness means that any sharp downturn in American markets will reverberate around the world.

To put the potential impact in perspective, I calculate that a market correction of the same magnitude as the dotcom crash could wipe out over $20trn in wealth for American households, equivalent to roughly 70% of American GDP in 2024. This is several times larger than the losses incurred during the crash of the early 2000s. The implications for consumption would be grave. Consumption growth is already weaker than it was preceding the dotcom crash. A shock of this magnitude could cut it by 3.5 percentage points, translating into a two-percentage-point hit to overall GDP growth, even before accounting for declines in investment.

Read it all.

The exposure of the world to US equities is at record levels. A stock market correction would have more severe and global consequences as compared to what followed the dot-com crash. The tariff wars and lack of fiscal space compounds the problem. The underlying problem is not… pic.twitter.com/LFaN4mNgqn

— Gita Gopinath (@GitaGopinath) October 15, 2025

To fully understand this ongoing debate, one must consider the historical role of Christianity in America, the legal protections for religious freedom (despite the spread of secularism) amid a decades-old culture war highlighted by societal shifts starting in the 1960s.

As a result, Christianity in the United States is certainly undergoing a transition. It is moving from a position of cultural centrality to one of pluralistic coexistence, especially since new waves of immigrants over the last 30 years who are Muslims, Hindus and Buddhists move to the United States.

In a 2022 post, veteran journalist Richard Ostling, a regular Religion Unplugged contributor, observed:

“Christian nationalism” became common coinage in the U.S. fairly recently, usually raised by cultural liberals who view it with alarm, and often with “White” as an added adjective. The term is not generally embraced by those considered to be participants.

As journalist Samuel Goldman remarks, to describe something as Christian nationalism “is inevitably to reject it.”

The Merriam-Webster definition of plain “nationalism” is “loyalty and devotion to a nation” but adds this important wording, “especially a sense of national consciousness exalting one nation above all others and placing primary emphasis on promotion of its culture and interests as opposed to those of other nations or supranational groups.”

“Nationalism” is not the same as “patriotism,” the natural and benign love and loyalty toward one’s homeland that characterizes all peoples and countries, including huge numbers of non-nationalists on America’s religious left as well as the right. Nor is it the same thing as either political or religious conservatism but is instead a narrow faction within those broad populations.

Read it all.

The question of whether #Christianity is under attack, especially in the United States, is a complex and deeply polarizing one https://t.co/REqRKWg2aY

— Clemente Lisi (@ClementeLisi) October 8, 2025

Big Pharma has a big headache: Donald Trump. Lately drugmakers have had to contend with the American president’s pronouncements on everything from vaccines to paracetamol. In the coming days the pain is set to intensify. Intent on lowering prices, Mr Trump has given leading pharma firms until September 29th to comply with an executive order to peg their prices to the lowest charged in other rich countries—a rule he calls “most favoured nation” (MFN) pricing. If they do not, he thundered, they will face “every tool in our arsenal” against “abusive drug pricing”.

At the same time, the president wants to encourage homegrown manufacturing. He plans to impose a 100% tariff on branded drugs from October 1st, unless their makers are building factories in America. His administration is also pondering additional duties under a law allowing imports to be restricted on national-security grounds.

As is often the case, the Trumpian diagnosis contains a kernel of truth. Drug prices are indeed higher in America than elsewhere in the rich world. But the president’s two-point prescription upends a model that has long underpinned the highly globalised pharma industry, which could have unintended effects. It could leave Americans with fewer medicines but not cheaper ones, while in other countries drugs could be fewer and dearer. David Ricks of Eli Lilly, the world’s most valuable drugmaker, has warned that MFN pricing risks “the worst of two worlds”, importing Europe’s sluggish innovation while keeping American prices high.

Read it all.

America’s drug prices were more than three times the average in other rich countries in 2022. As a consequence, it coughs up around 70% of global pharmaceutical profits from about half of global sales. This is partly because of how the market is organised https://t.co/eyJHSfPEB3

— The Economist (@TheEconomist) September 29, 2025

“I thought I was heading into oblivion,” he said. “It was scary—and exciting.” 

Huffman thrived in Florida, though, getting an opportunity to minister not only to the president but also to an island of young professionals who wanted to grow in their faith and a rotating cast of powerful people spending time on Florida’s beaches and golf courses.

He was careful to “just preach the gospel,” he said, regardless of who was in church, and to remember he was preaching to everyone, not just the most powerful person in the room. 

“There may have been someone else in the congregation who needed to hear what I said more than the president,” he said. “You’re there to serve the Lord. That’s the important part. Let the chips fall where they may.”

The year after Huffman told Nixon to confess, he accepted a call to be pastor at First Presbyterian Church in downtown Pittsburgh, a prestigious pulpit at a respected and historic congregation. Decision magazine did a photo essay on the church while Huffman was there, naming it “one of the great churches in America.” 

Read it all.

We mourn the loss of Rev. Dr. John A. Huffman, Jr., beloved friend, supporter, and former board chair. His life and legacy shaped Gordon-Conwell from its earliest days. Please join us in prayer for his family.

Read more: https://t.co/B5s9yM8dRw
#GordonConwell pic.twitter.com/mc9Aj8LGtk

— Gordon-Conwell (@GordonConwell) September 29, 2025

US debt investors have raised the alarm over lax lending standards in credit markets after the unravelling of two companies that just weeks ago were deemed to be in strong health.

The failure of subprime auto lender Tricolor Holdings at the start of this month followed by the exploration of bankruptcy proceedings by car parts supplier First Brands Group have wrongfooted investors. Tricolor had won pristine triple-A ratings as it borrowed in credit markets, while First Brands may have amassed as much as $10bn in debt and off-balance sheet financing and was close to raising even more last month.

Investors were ready to dismiss each as one-off incidents, but taken together, the two offer signs of cracks within credit markets, which have become a critical source of funding for consumers and businesses as traditional banks have retreated since the financial crisis.

Read it all.

US debt investors have raised the alarm over lax lending standards in credit markets after the unravelling of subprime auto lender Tricolor Holdings and car parts supplier First Brands Group that just weeks ago were deemed to be in strong health. https://t.co/42lt425W6Y pic.twitter.com/MIgeF7QhsF

— Financial Times (@FT) September 24, 2025

But today conservative Christians are eager to tell a different story, and Charlie Kirk’s memorial service on Sunday — a gathering of political figures where politics was subordinated to preaching, culminating in Erika Kirk’s extraordinarily moving message of forgiveness for her husband’s killer — was a stage for a narrative of revival, recovery, conversion, Christian strength.

Trump was there, of course, and still very much his un-Christian self. (His off-script comments about his inability to feel anything but hatred for his own enemies were funny in the Trumpian way, but also plainly true.) But the idea that the future belongs to a post-Christian right, a subject we’ve considered in this newsletter, seemed not just absent but almost absurd, as the leaders of the Republican Party lined up for a memorial that doubled as an evangelical revival, complete with altar calls.

Religious history invites us to expect the unexpected, and there’s no reason to rule out a future where Kirk’s martyrdom provides the impetus for a genuine revival. The story of the last five years, at least in my reading of the religious tea leaves, is one of secularization arrested, and a culture reconsidering religion — but not yet becoming notably more religious. That’s an equilibrium that could be tipped by dramatic events or examples, and to the extent that Kirk is remembered and emulated primarily for his faith, maybe we’ve just seen a tipping point.

Read it all.

Christianity After Charlie Kirk:https://t.co/BDyr2lTfW0

— Ross Douthat (@DouthatNYT) September 23, 2025

The research is sprawling and interdisciplinary, but it is beginning to align around a provocative hypothesis: Shifts in everyday exposures may be accelerating biological aging, priming the body for disease earlier than expected.

“We’ve changed what we’re exposed to considerably in the past few decades,” said Patti, a professor of chemistry, genetics and medicine at the Washington University School of Medicine in St. Louis.

The sheer complexity of modern life makes it difficult to pinpoint specific culprits. But advances in rapid, high-volume chemical screening, machine learning, and vast population datasets have made it possible to look with unparalleled depth and detail into the human body and the world around it. These methods test thousands of variables at once, revealing some never-before-seen patterns.

Last year, researchers released findings from a 150,000-person study at the annual American Association for Cancer Research meeting that took the cancer community by surprise. They found that millennials — born between 1981 and 1996 — appear to be aging biologically faster than previous generations, based on biomarkers in blood that indicate the health of various organs. That acceleration was associated with a significantly increased risk — up to 42 percent — for certain cancers, especially those of the lung, gastrointestinal tract and uterus.

Read it all.

NEW: The rates of cancer among millennials are rising, and researchers now think it can't be explained by genetics and lifestyle choices alone. Check out the latest in our young cancer series, by @arianaeunjung @alvarovalino and @dtkeating https://t.co/YUosFbFpgq

— Juliet Eilperin (@eilperin) September 23, 2025

You graduate from a college, I think you should get, automatically as part of your diploma, a green card [permanent residence in the United States],” promised Donald Trump on the campaign trail last year. As president, on September 19th, Mr Trump headed in the opposite direction. He proposed a charge of $100,000 on new applications for H-1B visas, a favourite of technology firms hiring foreign graduates. Each year 85,000 are issued by lottery (demand far outstrips that quota). Hitherto the cost of securing one has been about $2,500 in legal and filing fees.

Big tech firms dominate the visas (see chart 1). Amazon alone received more than 14,000 approvals in 2025 (renewals do not count against the 85,000 quota). Indian IT-services giants such as Infosys, Wipro and Tata Consultancy Services (TCS), also routinely rank among the top sponsors. And Indian citizens scoop most of the visas—about three-quarters of them in 2023. Apart from China (12%), no other country secures more than 2%. Many of Mr Trump’s supporters complain that this means jobs that could go to talented Americans go to Indian graduates instead. But the effects of the new charge may be more complicated than they expect.

Over the weekend many of America’s tech giants scrambled to advise employees on H-1B visas not to leave the country until the rules are clarified; whether exemptions will be made for some groups remains uncertain. The announcement has been most keenly felt, though, in India. In August Mr Trump imposed a 50% tariff on Indian goods, sparing only essentials such as electronics and pharmaceuticals. Now he has hit the country’s most successful sector. According to Goldman Sachs, services exports grew from $53bn to $338bn between 2005 and 2023, almost twice the global rate. That growth was driven by a boom in India’s population of engineers, particularly in computer science. The IT firms relied on sending engineers to America under the H-1B programme to serve clients, a cornerstone of their business model. For decades H-1Bs offered Indian techies a route to better-paid jobs in America. That path now looks far less certain.

Read it all.

The perverse consequence of America’s $100,000 visa fees https://t.co/AbOuOhgZi6 via @TheEconomist

— Adi Gaskell (@AdiGaskell) September 23, 2025

We may be standing at the edge of a season of renewal in America. But it won’t just happen. Pastors, vestries, members—we all have to pick up the tools God has already given us and use them.

If we do, then this isn’t just a spike in attendance. People will stay. They’ll grow. They’ll become part of the household of God.

One X user said it best: “God always brings good out of evil. The light shines in the darkness.”

That light is shining now. The question is whether we’ll lift it high for all to see.

Read it all.

Young people are going back to church:

"After years of stagnant church attendance, a surprising shift is underway. Millennials and Generation Z are emerging as the new “backbone of church attendance,” driving a resurgence in spiritual engagement, according to recent findings…

— Nancy Pearcey (@NancyRPearcey) September 17, 2025

“Now let me say a word to all of us about the importance of Christians being Christians. I want to speak to you from my heart and tell you that you matter not just to God, not just to me not just this Parish, but to this country and the most important thing for the country right now is for Christians to be Christians and to be salt and light.

There’s no question that the last week has been unspeakably difficult for our country. We had a man who was speaking publicly at a university in Utah senselessly murdered in cold blood. It caused terror and shock to the students, to the university, to the state of Utah, to the country and indeed to the world.

Whatever else you can say about this terrible event it represents the symptom of a country that is not well. We need Christians to pray for this country but we need more than that. We need Christians to be Christians in the public sphere in this country and behave in the public Square in a manner that conforms with the person and the teachings of Christ.

This means two things specifically for us. First of all, it means speaking against political violence from any point of view as ever being justified in the public square. Christians need to be people who defend free speech, but also who defend the importance of good disagreement in public and who do everything in their power to pray and speak against any political violence.

There is also something philosophical at stake and it matters. One of the very alarming things that’s happened in the last few decades is that a perspective has emerged, which has moved from arguing that words are bad to arguing that words in and of themselves are violence.

We need to be careful here. There is no justification for using free speech to deliberately incite violence from others or ourselves, but this is different.

What is now being argued is that words of a certain type from a certain vantage point are inherently violent and therefore people who use those kind of words and those kind of arguments are able to be responded to with violence in certain circumstances.

Do not fool yourself that this idea that political violence is justified is somehow hiding anymore in the dark subways or smaller parts of our country. What is so deeply disturbing about what this week represents is how many people in public from various viewpoints are more and more justifying political violence as a means of somehow being a solution to our problems Political violence has never been good. It will never be justified. It can never be condoned. It must always be condemned.

This is true for everyone, but especially for us as Christians. Let us renew our commitment to pray for this country and let us renew our commitment to seek the common good, to defend the importance of the public square and to defend the need to behave properly in the public square. And let us all work for the common good of our country.

Several people have argued that this week could be a turning point—let us pray that it is, in all sorts of ways, a turning point for the better, but let us, especially as Christians, respond by making sure that it deepens our resolve to be people of salt and light who speak the truth in love and who declare to all that speaking the truth in love matters. And let us pray that the God who brought his light into the darkness of this world, somehow brings his light out of this very dark week in Utah and in America.”

U.S. population growth will slow to a crawl over the next few decades as fertility rates decline and net immigration shrinks because of stricter enforcement, the Congressional Budget Office said Wednesday.

Deaths are now projected to exceed births in 2031. Just eight months ago, CBO had projected that threshold wouldn’t be crossed until 2033.  

By 2055, the U.S. population will be about 367 million, up from 350 million today. In January, CBO had projected a 2055 population of 372 million. From 1975 through 2024, U.S. population growth averaged 0.9% annually. By the early 2050s, according to the latest projections, population growth will effectively be zero. 

Read it all.

U.S. population growth will slow to a crawl over the next few decades as fertility rates decline and net immigration shrinks because of stricter enforcement, the Congressional Budget Office said https://t.co/Et12WqCfnk

— The Wall Street Journal (@WSJ) September 10, 2025

From there:

I got up and turned on the TV, and there was just this big black hole in the World Trade Center. And there was just smoke billowing out of it. I called my sister Cathy I said, “You might wanna wake up, turn in your TV and take a look at what they’re showing.” The commentator’s saying that it’s an American Airlines plane. And I casually asked Cathy, I said, “Do you know where Betty is?” And she says, “Betty’s supposed to be flying out of Boston.” And I said, “Do you think Betty is on that plane?” We just didn’t know. So I left a phone call on her cellphone, just asking her when she’s landed or anywhere you’re on the ground, to just give us a call and tell us you’re okay. And there was no call from Betty. I called American Airlines, and it was only then that it was confirmed that Betty was on the flight.

I just want to add, through your passing, Betty, our family’s gotten very very close. Dad, who’s quite stoic, doesn’t really say a whole lot, man of the family, one day told us that he cries himself to sleep. Even to this day, he just keeps staying up watching TV, hoping somehow that you’ll reappear. And we’re all still waiting for that phone call from you to tell us that you’re okay. We just miss you a whole lot.

You may find the transcript of Betty Ong’s conversation reporting the hijacking from the American airlines plane here.

On September 11, 2001, New York — and the nation — faced the unimaginable. Now, 24 years later, the spirit of unity that helped us recover and rebuild can inspire a whole new generation.

Each anniversary offers an opportunity to reflect and affirm our promise to never forget.… pic.twitter.com/RyxScc5MLu

— 9/11 Memorial & Museum (@Sept11Memorial) September 10, 2025

“The cloudless sky filled with coiling black smoke and a blizzard of paper—memos, photographs, stock transactions, insurance policies—which fluttered for miles on a gentle southeasterly breeze, across the East River into Brooklyn. Debris spewed onto the streets of lower Manhattan, which were already covered with bodies. Some of them had been exploded out of the building when the planes hit. A man walked out of the towers carrying someone else’s leg. Jumpers landed on several firemen, killing them instantly.

“The air pulsed with sirens as firehouses and police stations all over the city emptied, sending the rescuers, many of them to their deaths. [FBI agent] Steve Bongardt was running toward the towers, against a stream of people racing in the opposite direction. He heard the boom of the second collision. “There’s a second plane,” someone cried.”

–Lawrence Wright, The Looming Tower: Al-Qaeda and the Road to 9/11 (New York: Random House [Vintage Books], 2006), pp.404-405

Moments from this morning's 24th anniversary commemoration pic.twitter.com/IQ0uE31Bua

— 9/11 Memorial & Museum (@Sept11Memorial) September 11, 2025

Almighty God and Father who wills that all people may flourish and have abundance of life, be with us especially on this day when we remember such destruction, darkness, devastation, death and terror; help us to honor the memory of those whose lives were utterly cut short, and to believe that you can make all things new, even the most horrible things. Redeem and heal, O Holy Spirit, grant us perspective, humility, light, trust and grace, through Jesus Christ our Lord. Amen.

Today we will lead the world in commemorating the 24th anniversary of 9/11. Twenty-four years after the day that changed our world forever, we will come together to read aloud the names of those lost. Join us live: https://t.co/XXLaBbugOb pic.twitter.com/J5cJDK1lla

— 9/11 Memorial & Museum (@Sept11Memorial) September 11, 2025

The percentage of U.S. adults who report currently having or being treated for depression has exceeded 18% in both 2024 and 2025, up about eight percentage points since the initial measurement in 2015.

The current rate of 18.3% measured so far in 2025 projects to an estimated 47.8 million Americans suffering from depression. Most of the increase has occurred since the onset of the COVID-19 pandemic in 2020. Gallup obtained the most recent results for 2025 Feb. 18-26 and May 27-June 4, 2025, with 11,288 U.S. adults surveyed by web as part of the probability-based Gallup Panel. Respondents were asked, “Has a doctor or nurse ever told you that you have depression?” and if yes, “Do you currently have or are you currently being treated for depression?”

Both metrics are part of the ongoing Gallup National Health and Well-Being Index. The percentage of adults who report having been diagnosed with depression in their lifetime stands at 28.5%, hovering near the record high of 29.0% measured in the first quarter of 2023.

Read it all.

U.S. Depression Rate Remains Historically High https://t.co/P24MAawQa4

— Rasha B Basha (@basharabasha_ra) September 9, 2025

This summer’s “12-Day War” between Israel and Iran exposed what Washington should have long known: the US military’s air and missile defense architecture is not ready for a long fight against a capable enemy. Israel severely degraded Iran’s ability to fire missiles by systematically eliminating many of their launchers. However, the United States still expended nearly 25 percent of the total number of Terminal High Altitude Area Defense (THAAD) anti-ballistic missile interceptors during the short conflict. Not a quarter of all our THAAD interceptors bought last year, but a full one-fourth of all of these systems ever procured. The military is falling behind and must reverse course soon.

In the twelve days of fighting between Israel and Iran, over 150 THAAD interceptors were launched at Iran’s more advanced ballistic missiles. This is over three times the average annual procurement of around 40 interceptors since 2010. At $15.5 million per interceptor, this puts the armed forces on an unsustainable trajectory. Even if the Pentagon increases current orders beyond the meager 12 funded in the 2025 budget, it still takes 3 years between the date a contract is awarded and when the interceptors are delivered.

The shortage of THAAD interceptors is not unique. American ships in the region also launched over 80 Standard Missile-3 (SM-3) interceptors to help defeat Iranian missiles during the 12-day conflict. The only version of this missile in production is the SM-3 Block IIA, and the Defense Department is still waiting on the first delivery of these upgraded missiles from a contract awarded in 2019.

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The US Military’s Missile Gap Isn’t Going Away
https://t.co/WApd0CcRxx

— Amb Antonio Garza (@aogarza) September 9, 2025

American high-school seniors’ scores on major math and reading tests fell to their lowest levels on record, according to results released Tuesday by the U.S. Education Department.

Twelfth-graders’ average math score was the worst since the current test began in 2005, and reading was below any point since that assessment started in 1992. The share of 12th-graders who were proficient slid by 2 percentage points between 2019 and 2024—to 35% in reading and 22% in math.

There also were drops in the proportion of students who were able to reach at least a basic level of performance, a tier below proficiency.

The results are from tests that are part of the National Assessment of Educational Progress, administered to tens of thousands of students in early 2024.

The declines deepen slides that began before the pandemic, and are the latest in a procession of gloomy data showing that U.S. students are learning less than several years ago. 

Read it all.

Reading & Math scores for high school seniors in America have fallen to their lowest level on record w/ 68% achieving a "basic" level of performance in Reading & 55% in Math. The % of 12th-graders who were "proficient" also fell to record lows: 35% in Reading and 22% in Math. pic.twitter.com/DnRQ1SMwY6

— Charlie Bilello (@charliebilello) September 9, 2025

Americans are more positive toward capitalism than socialism, but the 54% viewing capitalism favorably is down from 60% in 2021 and near that level in most prior years. Americans remain more negative (57%) than positive (39%) toward socialism, with little movement in these attitudes over time.

Gallup first measured Americans’ opinions of various economic systems or aspects of the U.S. economy in 2010 and has repeated the question six times since then, including in an Aug 1-20 survey.

Democrats and independents view capitalism less positively this year, each showing eight-percentage-point declines since 2021. For the first time, less than half of Democrats (42%) view capitalism positively, while a slight majority of independents (51%) still do. Republicans’ views are essentially unchanged, with three-quarters holding a positive opinion.

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Americans are more positive toward capitalism than socialism, but the 54% viewing capitalism favorably is down from 60% in 2021 and near that level in most prior years. pic.twitter.com/ZAZuJlbdCI

— Gallup (@Gallup) September 8, 2025

Churchgoers  in the United States are increasingly mixing online and in-person worship, a new study suggests. Since the pandemic, many now attend several different churches.

The study, Exploring Pandemic Impact on Congregations, published by the Hartford Institute for Religion Research, is based on a survey of 24,000 churchgoers in the US, carried out last autumn.

One quarter of respondents said that they regularly participated in both virtual services and in person. Newer churchgoers were more likely to attend both in person and online.

“By far, the most common reason [to attend online worship] is convenience,” the study said: it was given as a reason by nearly half (46 per cent) of respondents. Other reasons included illness, caring duties, and being homebound.

The study, Exploring Pandemic Impact on Congregations, published by the Hartford Institute for Religion Research, is based on a survey of 24,000 churchgoers in the US, carried out last autumn.

One quarter of respondents said that they regularly participated in both virtual services and in person. Newer churchgoers were more likely to attend both in person and online.

Read it all.

Churchgoers in the #UnitedStates are increasingly mixing online and in-person worship, a new study suggests. Since the pandemic, many now attend several different churches https://t.co/H4HiOXRQGS

— Church Times (@ChurchTimes) September 4, 2025

American companies are once again beating profit expectations, but this time around they aren’t banking on blockbuster consumer spending to make it happen.

Instead, the latest batch of quarterly earnings is getting a lift from managers who are squeezing out costs, boosting productivity and turning to new technologies. Companies from Monster Beverage to Estée Lauder said they are holding down hiring, often while finding new ways to get employees to work more efficiently. And they are raising prices when they can.

“The processes are human-light now,” Damon Lee, chief financial officer of C.H. Robinson Worldwide , said last month as he told investors about an initiative that includes automation upgrades. The global logistics company reported higher profit margins in the second quarter despite a nearly 8% drop in revenue, which it attributed to a prolonged freight recession. It said it had increased productivity 35% since 2022.

“The outcome of those transformations means less head count, more productivity,” he said.

More broadly, the gains enjoyed by companies and their investors aren’t softening the unease consumers and employees feel—and might be obscuring signals that ordinary Americans are putting their anxiety into action.

Read it all.

For retailers, price increases have generated most of the growth in sales since 2021, with volumes largely flat. Meanwhile, companies are cutting staff on the margins and relying on new technologies to fill gaps. “The processes are human-light now." https://t.co/61FEHkzBCa pic.twitter.com/nprY1Qo2Mg

— Lisa Abramowicz (@lisaabramowicz1) September 3, 2025

Nearly 10 million American children are living in poverty, the most since 2018, according to the latest Census Bureau figures from 2023. 

Tens of millions more—like the Meazler kids—are precariously close. Their families have been pushed to the edge by a storm of economic factors, including the expiration of Covid-era relief programs and the impacts of inflation on food and housing. 

The strain is expected to be worsened by cuts to federal spending on aid programs, including food benefits and Medicaid. President Trump on July 4 signed legislation passed by Congress that reduces funding and tightens work requirements for government assistance, and will likely result in less food aid and millions losing health coverage.

Even before the new cuts, several markers show that households with children are falling behind, though statistics around poverty have been complicated by the upheaval the pandemic brought to jobs and living arrangements, and the unprecedented federal aid distributed in response.

The share of families with children living in poverty jumped to 12.9% in 2023, the most recent year available, after plummeting to a record low of 5.6% in 2021, driven down by temporary pandemic programs like the expanded Child Tax Credit and extra unemployment insurance, according to census data compiled by the Center on Poverty and Social Policy at Columbia University. 

Poverty for all ages has inched up, but no other age demographic has seen a sharper rise in poverty between 2021 and 2023 than children, data compiled by the center show. 

Read it all.

Earning More but in Worse Shape: Hardship Overwhelms Many American Families

Nearly half of kids in the U.S. live in households below the middle class as inflation and the end of Covid relief hit working parentshttps://t.co/MmvB2XmIdG via @WSJ

— Lindsay Wise (@lindsaywise) August 5, 2025

President Donald Trump wants lower interest rates. Achieving that objective will require overcoming bigger obstacles than Fed Chair Jerome Powell.

There are structural forces that drive the cost of borrowing, and right now they’re pointing up. Governments and businesses are piling on debt to pay for tax cuts, military spending, and AI investments — which means more demand for credit. As the Baby Boomers retire and China decouples from the US, the pool of saving to finance those loans is drying up.

Attacks on Fed independence risk shrinking the pool further. Investors don’t want to see the value of their hard-earned cash inflated away by a central bank under political control.

Add all of this together and it points to a world where 4.5% may be the new normal for ten-year Treasuries — the crucial rate for mortgages and corporate bonds, and the one Trump’s team says it wants to bring down. In fact, Bloomberg Economics analysis shows it’s more likely to trend above that figure than below it. For the world’s biggest economy, that means a wrenching transition.

Read it all.

"Trump’s Interest Rate Obstacle Is Bigger Than Powell" https://t.co/CcNXpiVOuR pic.twitter.com/MLa29IeB2h

— Scott Lincicome (@scottlincicome) August 4, 2025

President Trump’s extensive tariffs have already started to generate a significant amount of money for the federal government, a new source of revenue for a heavily indebted nation that American policymakers may start to rely on.

As part of his quest to reorder the global trading system, Mr. Trump has imposed steep tariffs on America’s trading partners, with the bulk of those set to go into effect on Aug. 7. Even before the latest tariffs kick in, revenue from taxes collected on imported goods has grown dramatically so far this year. Customs duties, along with some excise taxes, generated $152 billion through July, roughly double the $78 billion netted over the same time period last fiscal year, according to Treasury data.

Indeed, Mr. Trump has routinely cited the tariff revenue as evidence that his trade approach, which has sowed uncertainty and begun to increase prices for consumers, is a win for the United States. Members of his administration have argued that the money from the tariffs would help plug the hole created by the broad tax cuts Congress passed last month, which are expected to cost the government at least $3.4 trillion.

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Trump’s Tariffs Are Making Money. That May Make Them Hard to Quit. https://t.co/0IaBKVoYff

— tony romm (@TonyRomm) August 3, 2025

The U.S. economy is growing again, helped by trade swings and American consumers who keep spending. There are also signs of caution.

The Commerce Department said U.S. gross domestic product—the value of all goods and services produced across the economy—rose at a seasonally and inflation adjusted 3% annual rate in the second quarter. That is up from a 0.5% contraction in the first quarter.

Taken together, the two quarters show an economy that is growing, but more slowly. GDP grew at an average annual rate of 1.2% in the first six months this year, a step down from the 2.5% average pace in 2024.

Both quarters this year were heavily influenced by swings in trade as businesses tried to navigate tariff threats and trade deals from the White House.

“Businesses are very cautious—they don’t know the road map and so they’re driving in the right lane very slowly,” said U.S. Bank chief economist Beth Ann Bovino.

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US economy rebounds a surprisingly strong 3% in the second quarter https://t.co/vJqYzkFiUY

— O.C. Register (@ocregister) July 30, 2025

From last year’s disaster in Asheville to this month’s catastrophic floods in Central Texas, the world has entered a new era of rainfall supercharged by climate change, rendering existing response plans inadequate. A Washington Post analysis of atmospheric data found a record amount of moisture flowing in the skies over the past year and a half, largely due to rising global temperatures. With so much warm, moist air available as fuel, storms are increasingly able to move water vapor from the oceans to locations hundreds of miles from the coast, triggering flooding for which most inland communities are ill-prepared.

“We’re living in a climate that we’ve never seen, and it keeps throwing us curveballs,” said Kathie Dello, North Carolina’s state climatologist. “How do you plan for the worst thing you’ve never seen?”

To understand why inland regions are so vulnerable to heavy rainfall, The Post compared the response to Helene in western North Carolina with that of Florida’s Gulf Coast, where the storm hit first. The investigation, based on analysis of cellphone data and interviews with two dozen meteorologists, disaster experts and storm survivors, revealed how scant flood awareness and a lack of effective warnings led to far fewer evacuations in North Carolina’s mountainous western counties.

Yet it was in these inland areas that Helene wrought its greatest human toll. At least 78 people in North Carolina died in Helene’s floodwaters, according to data from the National Hurricane Center — more than five times the number of people who drowned on the coast.

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“How do you plan for the worst thing you’ve never seen?”

A new era of floods has arrived. America isn’t prepared.
via @sarahkaplan48 @kcrowebasspro @NaemaAhmed @BenNollWeatherhttps://t.co/Lesg50kWdt

— Brady Dennis (@brady_dennis) July 21, 2025

When President Trump slapped tariffs on nations across the globe this spring, many economists feared higher prices and spending cuts would flatten the economy.

Consumer sentiment collapsed. The S&P 500 stock index fell by 19% between February and April. The world held its breath and waited for the bottom to drop out.

But that didn’t happen. Now businesses and consumers are regaining their swagger, and evidence is mounting that those who held back are starting to splurge again.

The stock market is reaching record highs. The University of Michigan’s consumer sentiment index, which tumbled in April to its lowest reading in almost three years, has begun climbing again. Retail sales are up more than economists had forecast, and sky-high inflation hasn’t materialized—at least not yet.

“We’ve been surprised again and again by consumers,” said Jonathan Millar, senior U.S. economist at Barclays. In April, Millar predicted that the U.S. economy would likely go into recession this year. He now expects it to keep growing, albeit at a slow pace.

When President Trump slapped tariffs on nations across the globe, many economists feared the economy would flatten. That didn’t happen—and now businesses and consumers are regaining their swagger. https://t.co/WIBgPogfQv

— The Wall Street Journal (@WSJ) July 21, 2025

“The court knows that the freedom of religious expression is more than worship alone,” said Carlson-Thies, reached by telephone. “But where will the court draw the line, especially with religious individuals who own businesses that deal with the general public? … That’s the mystery. Everyone knows the court needs to do something. These issues are not going away. … But it isn’t clear that everyone thinks the Supreme Court should have the last word on everything. You hear that argued on the left and the right — depending on who controls the White House.”

Carlson-Thies noted several strategic rulings — in 2018, 2023 and this summer — in which the court addressed the religious-liberty claims of individuals.

The first was Masterpiece Cakeshop in 2018, a case focusing on Jack Phillips’ claim that he could refuse, for religious reasons, to create a unique wedding cake for Charlie Craig and David Mullins. The 7-2 majority said the Colorado Civil Rights Commission showed obvious hostility to the beliefs of Phillips. The baker had offered to sell Craig and Mullins cookies, cakes and other items for their wedding reception, but not a personalized cake with artistic content celebrating their same-sex marriage.

However, Kennedy once again sidestepped First Amendment issues, stating that laws can and must “protect gay persons and gay couples,” while “religious … objections to gay marriage” are also “protected views and in some instances protected forms of expression.” He admitted that the “outcome of cases like this in other circumstances must await further elaboration in the courts.”

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Agreed. The Supreme majority provides little or no guidance on how courts in future should balance competing claims. It's true that a ruling in the other direction would have been a terrible blow to religious freedom. But this just keeps things muddy. https://t.co/0BDvkvo7au

— Kimberley Strassel (@KimStrassel) June 4, 2018

Iran’s deeply buried nuclear enrichment plant at Fordo was badly damaged, and potentially destroyed, by the 12 massive bombs that U.S. Air Force B-2 bombers dropped on it last month, according to a new American intelligence assessment.

Two other nuclear sites targeted in the U.S. attacks were not as badly damaged, but facilities at the sites that would be key to fabricating a nuclear weapon were destroyed and could take years to rebuild, U.S. officials said.

A senior Israeli official said last week that the strikes most likely did not eliminate the stockpile of near-bomb-grade fuel that could be used to produce upward of 10 nuclear weapons. But without the facilities to manufacture a weapon, U.S. officials insist, the fuel would be of little use even if the Iranians can dig it out of the rubble.

The new assessment helps create a clearer picture of what the combined Israeli and U.S. strikes on Iran achieved. The bombings deeply damaged Fordo — considered by the Iranians to be their best-protected and most advanced nuclear enrichment site — probably crippling Iran’s ability to make nuclear fuel for years to come.

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New Assessment Finds Site at Focus of U.S. Strikes in Iran Badly Damaged https://t.co/dr2QDpujFD via @NYTimes

— Ali Vaez (@AliVaez) July 17, 2025

After that he started preaching through the New Testament one book at a time, beginning with the Gospel of John and then moving to Peter’s first and second epistles. MacArthur spent 30 hours a week preparing sermons and delegated almost all other pastoral responsibilities to the church’s elders and lay leaders. 

The church grew rapidly. Grace built a new building that could seat 1,000 in 1971 and expanded again in 1977, tripling in size. It became the largest Protestant church in Los Angeles by the end of the decade.

The demand for recordings of MacArthur’s sermons also exploded. Church members sent out 5,000 tapes every week, then 15,000, then 30,000. By the end of the ’70s, more than 100,000 Christians around the country were receiving MacArthur’s recorded sermons every week. The church also launched a separate ministry, Grace to You, to broadcast MacArthur’s messages on Christian radio.

“John’s ministry proves how timeless preaching can be when it is merely sound, clear biblical exposition,” Phil Johnson, executive director of Grace to You, said in 2011. “If the aim of preaching is the awakening of spiritually dead souls and the cleansing and transformation of lives spoiled by sin, then all that really counts is that the preacher be faithful in proclaiming the Word of God with clarity, accuracy, and candor.”

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Expository preacher John MacArthur died Monday at the age of 86.

He said the most important mark of his ministry was that he explained the Bible with the Bible.https://t.co/qUiMDTIxLW

— Christianity Today (@CTmagazine) July 15, 2025