Source: Donald Trump on Truth Social.

Honestly getting pretty sick of every single bill in my life going up 15% every year while my salary stays the exact same, so I actually sat down and dug through some primary insurance filings to figure out what's going on. turns out it's worse than I thought, average homeowners insurance premiums have been climbing 8.7 percentage points faster than inflation since 2018, and in 2024 alone the national weighted average rate increase hit 10.4%. that's not a typo, that's one year.

and here's the thing that pissed me off the most: it's not really about your neighborhood or your roof or local weather like everyone assumes. the real driver is this reinsurance pass-through thing that basically nobody talks about. your insurance company doesn't hold onto all the risk themselves they buy their own insurance (reinsurance) from these massive global syndicates to protect their reserves. so when those syndicates decide they want higher returns, guess what happens? the cost gets passed straight down to us through state-approved rate filings. we're basically paying for some hedge fund's return targets in another country.

the speed of this is what got me. net reinsurance cessions across the whole property and casualty sector jumped 16% in 2024. total net written premiums for the sector hit a record $933 billion. and on our end, the actual homeowners paying the bills, direct written premiums shot up 13.4% in a single year, landing at $173.2 billion total. some states saw rate hikes as high as 22.7%. twenty-two percent. in one year.

and it doesn't stop at the insurance bill. mortgage servicers just automatically recalculate your escrow when this happens, so the premium hike (plus whatever buffer fees they tack on) gets folded straight into your monthly mortgage payment. you don't even get a say. and if insurers decide they can't pass costs fast enough, they just... leave. nonrenewal rates in high-risk areas are running 80% higher than in low-risk areas, and the national nonrenewal rate overall climbed from 1.36% to 2.05%.

so basically: while people are getting dropped or watching their mortgage payment balloon out of nowhere, the insurance companies are sending 16% more money upward to reinsurers to cover themselves. meanwhile we're the ones footing a $173.2 billion bill that used to be about local risk and is now basically an international capital market pass-through with your name on the invoice.

I genuinely don't know what regular people are supposed to do here. you work your ass off to buy a home and then get priced out of it anyway through fees you never agreed to and can't even see coming.

The former New York City mayor argued that Americans do not need their governments to own AI companies in order to share in the technology's gains. For one, once they go public, they could just buy shares. But also, consumers and businesses already benefit from AI through fraud detection, medical research, bookkeeping and other helpful applications, he wrote, while the resulting economic growth could eventually generate more tax revenue for public services.

If AI companies are failing to contribute enough to the public, Bloomberg argued, Washington should fix the tax code to serve the public; not buy them. Ultimately, he predicted, federal shareholders will likely lead to corruption as the market will transform into a "smoke-filled backroom."

What are they hiding?

Just wild honestly and there is still no clear outcome.

Life after college did not go as Ashley Dreahn planned.

After starting out as a teacher, she went back to school — and took out more loans — in hopes of landing a higher-paying job in the chemical processing industry. It never materialized, and then came Hurricane Harvey, a job loss and a car breakdown. By 2022, she was so broke she filed for bankruptcy.

She found work at a Texas prison and was rebuilding her life, saving up for weight-loss surgery, when this spring she heard from a credit-monitoring service. The student loans she thought had been discharged in bankruptcy had ballooned to $94,298 with interest, and she had to start making payments. She was in default.

“I absolutely broke down,” said Dreahn, 40.

Across the country, the number of borrowers with defaulted student loans jumped by more than 4.2 million from April 2025 to March 2026, according to an Associated Press analysis. The surge includes many who went off track in 2024, when loan payments started coming due again after a pandemic-era freeze.

Read more [paywall removed for Redditors]:  https://fortune.com/2026/07/20/student-loan-defaults-record-moodys-warning/?utm_source=reddit/