U.S. inflation continues to dog both the American and, more importantly, the American consumer. The year-over-year inflation rate in April 2023 was 4.9%, per the U.S. Bureau of Labor Statistics . Many television economists and talking heads celebrated the slowing of inflations rate of growth. What these so-called experts fail to realize is that Aprils inflation rate was 4.9% higher than the rate in April 2022 , which was 8.3%. This means that the inflation rate was 13.2% when compared to April 2021 hardly a number worth celebrating.
Journalists have written extensively about the impact of inflation on Americas collective pocketbook. Higher gas prices, higher food prices, and higher prices for items such as used cars and trucks have dominated the headlines. But there are hidden costs to inflation, inflicting pain on the middle class and poorest Americans.
The U.S. real estate market is already in a recession. Through the first quarter of 2023, U.S. housing market activity as measured by private residential fixed investment has declined, on a nominal basis, for four straight quarters Fannie Maes forecast model thinks declines in the U.S. housing market will spill over and help to push the U.S. economy into a recession.
The housing market is in a vicious cycle. Interest rates are above 7% for the third time this year. This is driving a lack of inventory as people with fixed rate mortgages below 5% are loath to sell their homes and purchase a new home at a higher interest rate. The lack of inventory is driving bidding wars in some areas, making first-time homeownership more difficult. It also makes it harder to recruit people to fill roles in companies that require relocation. Simply put, not many people want to venture into the housing market at this time.
It is not just housing. The U.S. auto market is quietly suffering, but not in a manner that many think. Prices are slowly dropping , as supply chain issues are abated, with new car prices expected to fall 2.5 5% and used vehicle prices expected to decrease 10 20%.
However, the typical interest rate on a new car loan rose to 8.95% in March, up from 5.66% in March of 2022. For used cars, the rate was 11.3% in March, up from 7.7% a year ago. A one percentage point increase on an auto loan adds roughly $20 a month to a car note and thousands of dollars extra over the life of the loan.
The higher interest rates for cars are not calculated in the inflation rate, just the drop in MSRP. The hidden cost is found in higher interest rates causing more drivers to fall behind on their car payments. In January 2023, the percentage of auto borrowers who were at least 60 days late on their bills climbed 2% from December and 20.4% from the previous year, according to Fox Business. The percentage of severe delinquencies surged to the highest level since 2006. Loan defaults increased 6.2% over the course of January 2023 and were up 33.5% from a year earlier. Car repossessions were up 11% in 2022.
Another hidden cost of inflation is the grossly expanding credit card debt of American citizens. U.S. consumers now owe $986 billion on their credit cards, according to data from the Federal Reserve Bank of New York. That is a 17% increase from a year ago and a record high, as more households are forced to use their credit cards to pay monthly expenses such as food and utilities.
The final hidden cost of inflation is the increase in hardship withdrawals from retirement plans. In 2022, 401(k) hardship withdrawals rose by 24%, not only demonstrating how people are struggling to make ends meet, but also signaling a pending retirement crisis, as people will have less money on which to depend during retirement.
Joe Bidens inflation is destroying the American dream. At a time when 57% of Americans cannot afford an emergency expense of $1,000 or more from their savings, Democrats want to not only increase the debt limit, but also raise taxes so they can spend more money, which will drive more inflation. Americans are hurting, and their pain is not covered in todays financial headlines.
Jim Nelles is a Navy veteran and supply chain consultant based in Chicago. His articles have appeared in The Washington Examiner, Newsweek, Foxnews.com, and The Daily Wire. He has served as a chief procurement officer, chief supply chain officer, and chief operations officer for multiple companies.
The views expressed in this piece are those of the author and do not necessarily represent those of The Daily Wire.
At least 59 Palestinians have reportedly been killed after the Israeli military opened fire near an aid centre in Gaza and carried out strikes across the territory.
The Red Cross, which operates a field hospital in Rafah, said 25 people were “declared dead upon arrival” and “six more died after admittance” following gunfire near an aid distribution centre in the southern Gazan city.
The humanitarian organisation added that it also received 132 patients “suffering from weapon-related injuries” after the incident.
The Red Cross said: “The overwhelming majority of these patients sustained gunshot wounds, and all responsive individuals reported they were attempting to access food distribution sites.”
The organisation said the number of deaths marks the hospital’s “largest influx of fatalities” since it began operations in May last year.
The IDF has said it fired “warning shots” near the aid distribution site but it was “not aware of injured individuals” as a result.
It said in a statement: “Earlier today, several suspects were identified approaching IDF troops operating in the Rafah area, posing a threat to the troops, hundreds of metres from the aid distribution site.
“IDF troops operated in order to prevent the suspects from approaching them and fired warning shots.”
Image: Palestinians mourn a loved one following the incident near the aid centre. Pic: Reuters
Mother’s despair over shooting
Somia Alshaar told Sky News her 17-year-old son Nasir was shot dead while visiting the aid centre after she told him not to go.
She said: “He went to get us tahini so we could eat.
“He went to get flour. He told me ‘mama, we don’t have tahini. Today I’ll bring you flour. Even if it kills me, I will get you flour’.
“He left the house and didn’t return. They told me at the hospital: your son…’Oh God, oh Lord’.”
Asked where her son was shot, she replied: “In the chest. Yes, in the chest.”
Image: Somia Alshaar, pictured with her daughter, says her son was shot dead. Pic: Reuters
‘A policy of mass murder’
Hassan Omran, a paramedic with Gaza’s ministry of health, told Sky News after the incident that humanitarian aid centres in Gaza are now “centres of mass death”.
Speaking in Khan Younis, he said: “Today, there were more than 150 injuries and more than 20 martyrs at the aid distribution centres… the Israeli occupation deliberately kills and commits genocide. The Israeli occupation is carrying out a policy of mass murder.
“They call people to come get their daily food, and then, when citizens arrive at these centres, they are killed in cold blood.
“All the victims have gunshot wounds to the head and chest, meaning the enemy is committing these crimes deliberately.”
Israel has rejected genocide accusations and denies targeting civilians.
Image: Two boys mourn their brother at Nasser Hospital in Khan Younis. Pic: Reuters
‘Lies being peddled’
The Gaza Humanitarian Foundation (GHF), the controversial US and Israeli-backed group which operates the distribution centre near Rafah, said: “Hamas is claiming there was violence at our aid distribution sites today. False.
“Once again, there were no incidents at or in the immediate vicinity of our sites.
“But that’s not stopping some from spreading the lies being peddled by ‘officials’ at the Hamas-controlled Nasser Hospital.”
The Red Cross said its field hospital in Rafah has recorded more than 250 fatalities and treated more than 3,400 “weapon-wounded patients” since new food distribution sites were set up in Gaza on 27 May.
Image: Palestinians inspect the wreckage after an Israeli airstrike in Deir al Balah. Pic: AP
It comes after four children and two women were among at least 13 people who died in Deir al Balah, in central Gaza, after Israeli strikes pounded the area starting late on Friday, officials in Al Aqsa Martyrs hospital in the territory said.
Fifteen others died in Israeli airstrikes in Khan Younis, in southern Gaza, according to Nasser Hospital.
The Israel Defense Forces (IDF) has not responded to a request for comment on the reported deaths.
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Israeli has been carrying out attacks in Gaza since Hamas-led militants killed some 1,200 people and took 251 hostages on 7 October 2023.
Hamas still holds 50 hostages, with fewer than half of them believed to be alive, after most of the rest were released in ceasefire agreements or other deals.
Israel’s offensive in Gaza has killed more than 57,000 Palestinians, more than half of them women and children, according to Gaza’s health ministry, which does not distinguish between civilians and combatants in its count.
US President Donald Trump has said he is closing in on another ceasefire agreement that would see more hostages released and potentially wind down the war.
But after two days of talks this week with Israeli Prime Minister Benjamin Netanyahu, there were no signs of a breakthrough.
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The latest fatalities in Gaza comes as a 20-year-old Palestinian-American man was beaten to death by settlers in the Israeli-occupied West Bank on Friday, the Palestinian Health ministry said.
Sayafollah Musallet, also known as Saif, was killed during a confrontation between Palestinians and settlers in Sinjil, north of Ramallah, the ministry said.
A second man, Hussein Al-Shalabi, 23, died after being shot in the chest.
Mr Musallet’s family, from Tampa Florida, has called on the US State Department to lead an “immediate investigation”.
A State Department spokesperson said it was aware of the incident but it had no further comment “out of respect for the privacy of the family and loved ones” of the reported victim.
The Israeli military said the confrontation broke out after Palestinians threw rocks at Israelis, lightly injuring them.
Forget fumbling with cables or hunting for batteries – TILER is making electric bike charging as seamless as parking your ride. The Dutch startup recently introduced its much-anticipated TILER Compact system, a plug-and-play wireless charger engineered to transform the user experience for e-bike riders.
At the heart of the new system is a clever combo: a charging kickstand that mounts directly to almost any e‑bike, and a thin charging mat that you simply park over. Once you drop the kickstand and it lands on the mat, the bike begins charging automatically via inductive transfer – no cable required. According to TILER, a 500 Wh battery will fully charge in about 3.5 hours, delivering comparable performance to traditional wired chargers.
It’s an elegantly simple concept (albeit a bit chunky) with a convenient upside: less clutter, fewer broken cables, and no more need to bend over while feeling around for a dark little hole.
TILER claims its system works with about 75% of existing e‑bike platforms, including those from Bosch, Yamaha, Bafang, and other big bames. The kit uses a modest 150 W wireless power output, which means charging speeds remain practical while keeping the system lightweight (the tile weighs just 2 kg, and it’s also stationary).
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TILER has already deployed over 200 charging points across Western Europe, primarily serving bike-share, delivery, hospitality, and hotel fleets. A recent case study in Munich showed how a cargo-bike operator saved approximately €1,250 per month in labor costs, avoided thousands in spare batteries, and cut battery damage by 20%. The takeaway? Less maintenance, more uptime.
Now shifting to prosumer markets, TILER says the Compact system will hit pre-orders soon, with a €250 price tag (roughly US $290) for the kickstand plus tile bundle. To get in line, a €29 refundable deposit is currently required, though they say it is refundable at any point until you receive your charger. Don’t get too excited just yet though, there’s a bit of a wait. Deliveries are expected in summer 2026, and for now are covering mostly European markets.
The concept isn’t entirely new. We’ve seen the idea pop up before, including in a patent from BMW for charging electric motorcycles. And the efficacy is there. Skeptics may wonder if wireless charging is slower or less efficient, but TILER says no. Its system retains over 85% efficiency, nearly matching wired charging speeds, and even pauses at 80% to protect battery health, then resumes as needed. The tile is even IP67-rated, safe for outdoor use, and about as bulky as a thick magazine.
Electrek’s Take
I love the concept. It makes perfect sense for shared e-bikes, especially since they’re often returning to a dock anyway. As long as people can be trained to park with the kickstand on the tile, it seems like a no-brainer.
And to be honest, I even like the idea for consumers. I know it sounds like a first-world problem, but bending over to plug something in at floor height is pretty annoying, not to mention a great way to throw out your back if you’re not exactly a spring chicken anymore. Having your e-bike start charging simply by parking it in the right place is a really cool feature! I don’t know if it’s $300 cool, but it’s pretty cool!
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It is “shameful” that black boys growing up in London are “far more likely” to die than white boys, Metropolitan Police chief Sir Mark Rowley has told Sky News.
Sir Mark, who came out of retirement to become head of the UK’s largest police force in 2022, said: “We can’t pretend otherwise that we’ve got a history between policing and black communities where policing has got a lot wrong.
“And we get a lot more right today, but we do still make mistakes. That’s not in doubt. I’m being as relentless in that as it can be.”
He said the “vast majority” of the force are “good people”.
However, he added: “But that legacy, combined with the tragedy that some of this crime falls most heavily in black communities, that creates a real problem because the legacy creates concern.”
Sir Mark, who also leads the UK’s counter-terrorism policing, said it is “not right” that black boys growing up in London “are far more likely to be dead by the time they’re 18” than white boys.
“That’s, I think, shameful for the city,” he admitted.
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Police chase suspected phone thief
Baroness Casey was commissioned in 2021 to look into the Met Police after serving police officer Wayne Couzens abducted, raped and murdered Sarah Everard.
She pinned the primary blame for the Met’s culture on its past leadership and found that stop and search and the use of force against black people was excessive.
At the time, Sir Mark, who had been commissioner for six months when the report was published, said he would not use the labels of institutionally racist, institutionally misogynistic and institutionally homophobic, which Casey insisted the Met deserved.
However, London Mayor Sadiq Khan, who helped hire Sir Mark – and could fire him – made it clear the commissioner agreed with Baroness Casey’s verdict.
After the report was released, Sir Mark said “institutional” was political language so he was not going to use it, but he accepted “we have racists, misogynists…systematic failings, management failings, cultural failings”.
A few months after the report, Sir Mark launched a two-year £366m plan to overhaul the Met, including increased emphasis on neighbourhood policing to rebuild public trust and plans to recruit 500 more community support officers and an extra 565 people to work with teams investigating domestic violence, sexual offences and child sexual abuse and exploitation.
Watch the full interview on Sunday Morning with Trevor Phillips from 8.30am on Sunday.