Category: Laptops

• The way Boomers and Millennials are spending can inform investment decisions, Bank of America analysts say.
• Travel, healthcare, and housing are attractive buys, as Boomers spend big in those areas.
• Apparel is risky, considering its target demographic, Millennials, are increasingly cash-strapped.

We’re in the middle of a “Boomer boom,” as the wealthier older generation of Americans spends big on a wide range of goods and services. 

Millennials, meanwhile, are spending less as they struggle through a tough macro environment—and there’s a playbook to trade off the differences in economic fortunes between the two demographics, according to Bank of America. 

In a note published Friday, BofA analysts wrote that investors should go “long Boomer stocks” and “short Millennial stocks.” 

There are a few things that make Boomers strong consumers today. For one, they’re much more insulated from the effects of rising rates compared to other generations. That’s because Boomers have generally saved more, and they’re being rewarded via higher yields on their savings accounts. Meanwhile, many older Americans also already own a home and aren’t exposed to eye-watering mortgage rates of around 8%. 

Big changes in government spending and a massive wealth transfer from the public sector to consumers and corporations decades ago also benefitted Boomers when they were in their prime, Bank of America says. 

Now, with their wallets bulging with excess cash, boomers are the top spenders in the US economy. 

Specifically, they’re spending a lot on health care, entertainment, and home improvement. Millennials on the other hand are spending less as they deal with higher interest rates. When they are shelling out, they’re spending more on housing and apparel, but are generally more strapped for cash. 

Importantly for investors, these trends hold clues about which sectors to pay attention to.

 According to Bank of America data, Boomers and Traditionalists are the only groups increasing consumption right now, which should make the sectors that they’re investing in attractive to investors. Millennials, meanwhile, are likely to further tighten their purse strings, shining a light on what parts of the consumer sector could struggle. 

The Boomer trade

Boomers have a lot more leisure time, and a lot more money, and stocks in sectors like travel, healthcare, and housing will be beneficiaries of that. 

“Travel was cited as the top priority for discretionary spend (85%) among the 50+ age group,” the analysts wrote, citing AARP data. “Cruise lines are heavily exposed to Boomers, accounting for ~40% of travelers.”

Boomers are also likely to spend a lot of money on housing and healthcare owing to their changing lifestyles. That means more senior homes and more personal care services. Bank of America highlights stocks in luxury housing like Toll Brothers, as well as Welltower, a real estate investment trust that operate senior housing communities, and which the analysts say is best positioned to capture the wealth of aging Americans. 

Home improvement stocks also look to be winners, as boomers will probably hold on to their low-interest home loans instead of selling their house, meaning they’ll put more money into home renovations as they age. 

Millennials, meanwhile, are skint as borrowing costs shoot up and wealth accumulation gets stymied by a historically unaffordable housing market.  

The plight of the younger cohort flashes a sell signal for the apparel sector, a major spending category for younger Americans. 

“Even as overall spending has held up, clothing spending has decelerated in recent weeks,” analysts wrote. “We think this is partly explained by the discrepancy in wealth and consumption between the age cohorts.”

BofA analysts see the largest risks for retailers in the womenswear clothing business, given that their target demographic tends to be Gen Z and Millennials.

Our experts answer readers’ personal loan questions and write unbiased product reviews (here’s how we assess personal loans). In some cases, we receive a commission from our partners; however, our opinions are our own.

If you need money to cover an expense or make a purchase that you don’t have enough cash to immediately afford, you may consider taking out a personal loan. You can use a personal loan for debt consolidation, medical expenses, and home improvement projects, among many other purposes. 

Best Unsecured Personal Loans

Next Step: See if you’re prequalified for a loan with no impact on your credit score.

When shopping for a personal loan, you’ll find there are two main types: secured and unsecured. Secured loans are backed by collateral, such as a house or a car, that the lender can take if you don’t pay. Unsecured loans don’t require collateral and typically come with higher interest rates than secured loans. Most personal loans are unsecured, and the best personal loans offer a variety of term lengths and other features. 

Compare the Best Unsecured Personal Loans

Unsecured Personal Loan Frequently Asked Questions

See our broader ratings methodology for personal loans » 

Best Unsecured Loan Company Reviews

LightStream Personal Loan

LightStream has some of the lowest unsecured personal loan rates in the market, provided you have a good enough credit score to qualify for them. While the high end of its APR range is still competitive, you may get a better rate with a credit union if you have a lower credit score. 

LightStream also doesn’t charge any fees — unlike some of the other lenders on our list. If you can qualify for an unsecured installment loan loan from the company, it’s a great choice. 

Watch out for: No loan preapproval. Borrowers looking to shop around for rates to get the best deal won’t be able to get a rate from LightStream without going through the full application process. The complete process may temporarily lower your credit score, as LightStream will conduct a hard inquiry to make an approval decision. 

LightStream Personal Loan Review

Penfed Credit Union Personal Loan

PenFed has the smallest minimum loan amount of any of the lenders on our list at $600. This is great for borrowers who only need a bit of cash to tide them over. 

The credit union has no origination fees or prepayment penalties, and co-borrowers are allowed. Co-borrowers can help you get a better rate or qualify if you otherwise would not have. 

Watch out for: Membership requirements. While you need to be a member to get a loan, eligibility requirements are fairly lax. Members of the military and employees of qualifying organizations will be eligible. But if you don’t qualify, you can join by simply opening a savings account with a $5 minimum deposit.

PenFed Credit Union Personal Loan Review

SoFi Personal Loan

SoFi has a high maximum loan amount of $100,000, so if you need to finance a large expense, you’re in luck. However, its minimum loan amount is $5,000, making it a poor option for borrowers looking for just a bit of cash to tide them over.

The company also offers unemployment protection, meaning you’ll receive forbearance if you lose your job during your loan repayment. This unique feature provides for as much as 12 months of forbearance that you apply for in three-month increments. 

Watch out for: High credit score required. To get a no-collateral loan from SoFi, you’ll need at least a 680 credit score. This puts the company out of reach for some borrowers. For those with lower credit scores, consider one of the other companies on our list of the best unsecured loans. 

SoFi Personal Loan Review

PayOff Personal Loan

Happy Money’s Payoff loan is an excellent choice for debt consolidation, as the company designs its personal loan offerings specifically for this purpose. It’s easier to qualify with worse credit. You need a minimum credit score of 640 to be eligible for a Payoff personal loan, which is toward the lower end of the fair range of scores. 

Unfortunately, you will pay an origination fee between 0% to 5% with Happy Money. Some of the other lenders on our list don’t charge these fees. 

Watch out for: Limited loan usage. While a Payoff loan is an excellent choice for consolidating debt, that’s the only reason you can take out a loan from the company. If you have a different loan purpose, such as wedding expenses or home improvement, you can’t get financing from the company.

Happy Money Personal Loan Review

Wells Fargo Personal Loan

Wells Fargo is the best brick-and-mortar lender on our list, with about 4,700 locations throughout the country. If you value in-person support, it may be a great choice for you. 

You can also borrow as much as $100,000 with the lender, making it a solid option for borrowers looking for large sums of money.  

Watch out for: History of controversies. Wells Fargo has been at the heart of numerous scandals over the past several years, including creating fake bank accounts to meet sales goals, predatory lending practices to minorities, and overcharging customers on home and auto loans.

Wells Fargo Personal Loan Review  

Upstart Personal Loan

Upstart is the best lender on our list for borrowers with poor credit, as it has a minimum credit score of just 600. This makes it accessible to borrowers who have shakier credit histories. It also funds its unsecured loans the next business day after approval. 

The lender also caters to borrowers looking for small unsecured loan amounts, with a minimum of just $1,000. 

Watch out for: Hefty origination fees. Upstart’s personal loans can have origination fees up to 8%, which will take a big chunk out of your overall loan proceeds. You can avoid those fees with some of the other lenders on our list.: Best brick-and-mortar lender

Upstart Personal Loan Review

Other Unsecured Personal Loan Lenders We Considered

• Best Egg Personal Loan. This lender has higher starting rates and maximum rates than most of the other lenders on our list. Additionally, its maximum loan amount is just $35,000. 
• Discover Personal Loans. Discover also has a low maximum loan amount of $35,000, making it not the best option for borrowers looking to finance expensive purchases. The company also charges up to $39 in late fees. 
• Avant Personal Loan. While Avant is a good option for borrowers with bad credit, it charges multiple types of fees and has high minimum and maximum APRs. 
• Rocket Loans Personal Loan. You can only choose between a three- or five-year repayment term length with Rocket Loans. Other companies on our list offer you more options for repayment. 

See our picks for the best low-interest personal loans »

Unsecured Loan Lender Trustworthiness

Whether you’re interested in taking out a $5,000 loan or a $100,000 loan, finding the right provider can help with your loan approval experience. We’ve compared each institution’s Better Business Bureau score to give you another piece of information to choose your lender. The BBB measures businesses based on factors like their responsiveness to customer complaints, honesty in advertising, and transparency about business practices. Here is each company’s score:

With the exception of Wells Fargo, our top picks are rated A+ by the BBB. Know that a high BBB score does not ensure a positive relationship with a lender, and you should keep researching and talking with others who have used the company to get the most complete information possible. 

Wells Fargo is currently rated an F by the BBB due to government actions against the business and a failure to respond to 14 complaints. Most recently, the Consumer Financial Protection Bureau in December 2022 ordered Wells Fargo to return $2 billion to customers and pay a $1.7 billion penalty for legal violations involving auto loans, mortgages, and deposit accounts. The bank illegally charged fees and interest penalties on auto and mortgage loans. Additionally, it misapplied payments to those loans for many customers. 

If you’re uncomfortable with this history, you may want to use one of the other personal loan lenders on our list.

How to Qualify for an Unsecured Loan

There are several factors that go into qualifying for an unsecured installment loan, including your credit score, income, and credit history.

Generally, you’ll need a credit score in the mid-600s to get a no-collateral loan. Some lenders, like Upstart, will accept borrowers with lower scores. However, when you have a lower credit score you’ll often pay a higher interest rate.

In addition to a solid credit score, you’ll need proof of your employment and ability to repay to determine eligibility. Lenders will check your debt-to-income ratio to ensure you haven’t borrowed more than you can feasibly pay back. 

Additionally, look into options for prequalifying for a personal loan to get a sense of what options are available to you.

Why You Should Trust Us: Our Methodology

We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:

• Interest rate (20% of rating)
• Fees (20% of rating)
• Term lengths and loan amounts (15% of rating)
• Funding speed (15% of rating)
• Borrower accessibility (15% of rating)
• Customer support (7.5% of rating)
• Ethics (7.5% of rating)

Each category’s weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan’s terms, so they have less of an impact on the overall rating.

• The S&P 500 has become more volatile in recent years, according to research firm DataTrek.
• That’s partly to do with bad luck and partly to do with unexpected events impacting the market. 
• The bigger factor is the massive growth of big tech stocks that make up more and more of the S&P 500.

Stocks are a risky investment, but huge intraday swings and relentless volatility seem to have only grown more frequent and intense in recent years. 

There are a number of factors that seem to have amplified volatility in large cap stocks, but according to DataTrek, the gains haven’t necessarily increased in tandem with the risk. 

“The S&P 500 has become noticeably more volatile over the last +60 years, but returns have not increased commensurately,” DataTrek said in a note published Thursday. “A combination of factors has caused the shift, but Big Tech’s relative overweight is driving this trend now. We still believe US large caps are the most productive equity investment, but having a realistic view on volatility is important.”

“From 1958–1979, the standard deviation of daily returns was 0.72 percent. It rose to 0.89 percent from 1980 – 1989, and has been even higher since 2000, at 1.13 pct,” the analysts added. 

Here’s why the research firm sees higher risk in the stock market today than in past eras. 

Big tech concentration

Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, Meta—the famously dubbed “Magnificent Seven” stocks have been responsible for most of the gains in the S&P 500 this year, which has masked what’s happening in other areas of the market.

“The S&P 500 is now heavily weighted to Big Tech, and this group exhibits both higher valuations and price volatility than the average company,” Data Trek researchers said in the note. 

Last month, Apollo Management’s chief economist Torsten Sløk said, “If you buy the S&P 500 today, you are basically buying a handful of companies that make up 34% of the index.”

Which goes to say that the S&P 500 is far more sensitive to the price movement of these seven stocks, which are themselves highly sensitive to events like the Federal Reserve’s interest rate hikes and other macro disturbances. This means that big swings in a handful of names can drive much of the price action in the broader index. 

Unexpected developments hit harder

Another explanation is that the market in recent years has had an outsized reaction to unanticipated developments relative to past eras.

“Unexpected events simply hit stocks harder than they used to,” DataTrek’s note said. “Last year’s aggressive series of Fed rate hikes created as much volatility as the 1973–1974 oil shock.”

And as to why the market is “twitchier” now compared to before, Data Trek researchers say that anything from online trading to higher corporate debt levels could be the reason why.

Two years ago, the black swan event of the pandemic drove the rise of online trading that collided with excess savings from federal stimulus checks. This sparked the “meme-stock” craze, in which stocks like GameStop saw double digit intraday gains and losses over the course of weeks.  

Corporate debt levels, meanwhile, are forcing companies towards bankruptcies in light of rapid rate hikes from the central bank, fueling investor jitters.

Markets have also been reacting harshly to Fedspeak in the last 18 months, and investors are on edge as they wait for any signals of what the central bank could do next. 

Bad timing

The final explanation? Bad luck.  

“Perhaps the 2000s have just been unlucky, with the 2008 Financial Crisis and 2020 Pandemic Crisis both hitting during this period,” DataTrek said. “We would classify 2008 as “user error” (bad policies and resultant speculative excess), but 2020 was legitimately a bolt from out of the blue.”

No one could have predicted the pandemic, and two market crashes in the same decade—in 2000 and 2008—are outliers in market history in terms of their magnitude. 

• The US can’t rely on growth to avoid dealing with its $33 trillion debt mountain, according to researchers.
• The government is on track to hit a record-high debt-to-GDP ratio by 2029.
• Higher interest rates means the cost of servicing that debt could be unsustainable, experts say.

The US’s $33 trillion debt mountain is bound to grow even larger – and policymakers and legislators can’t rely on the economy simply growing its way out of its debt problems, according to the Peter G. Peterson Foundation.

The research group, which is a nonpartisan organization dedicated to monitoring and spreading awareness of fiscal issues facing the US, pointed to the ballooning public debt balance, with the US debt-to-GDP ratio hitting 97% at the end of the 2022. 

Debt-to-GDP is expected to notch 98% by the end of 2023, according to projections from the Congressional Budget Office. At that pace, the US is on track to rack up debt equal to 107% of GDP by 2029, the highest debt-to-GDP ratio ever recorded, the foundation said.

The nation’s debt-to-GDP ratio hit an all-time-record in the years following World War II, with the public debt amounting to 106% of GDP in 1946. That ratio slumped over the following decades due to a cocktail of amiable market conditions and a post-war economic boom – but there’s no way that’s happening this time, researchers said.

“Given current projections for large primary deficits, demographic trends, and Federal Reserve policy focusing on controlling inflation, the United States should not be expected to grow out of its debt simply through rapid growth of GDP,” researchers said in a note on Wednesday. “As a result, approaching an all-time high for the debt-to-GDP ratio should be a wakeup call for lawmakers, and there are many available policy solutions designed for the current fiscal and economic outlook.

The US’s World War II debt was largely brought down by primary surpluses in the national budget, as well as the Fed putting a ceiling on Treasury and bond yields, which kept the government’s cost of borrowing artificially low. That was supplemented by a boom in economic growth, which boosted US GDP.

Though US GDP is expected to grow an eye-popping 5.4% over the third quarter, the government doesn’t on track to reduce its budget deficit anytime soon. Lawmakers have yet to agree on a new budget for the fiscal year, making a shutdown event in 2023 still likely.

Meanwhile, the Fed has warned that interest rates will stay higher-for-longer as it keeps a close eye on inflation. Recently, Fed Chair Powell even said the central bank would let the  current volatility in the bond market play out, despite the 10-year US Treasury yield briefly touching 5% this week.

That spells bad news for borrowers — including the US government. Higher rates and bond yields could make US debt servicing costs increasingly unsustainable, experts say, with the interest expense on the national debt potentially rising to a new record by 2025, Goldman Sachs estimated.

Not to mention, the government has a whopping $7.6 trillion of debt that’s about to mature over the next year – a sum 31% of the US’s total debt balance.

Mounting fears over the US debt means the government could have trouble finding buyers for Treasurys. That could lead to failed Treasury auctions, according to one Columbia Business School professor, wherein the Fed would have to step in to buy US debt securities, a move that could end up fanning inflation further. 

Our experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

UFB Direct is an excellent option if you’re searching for a competitive interest rate on a money market account or savings account. If you’d also like a checking account or CD, you might consider other institutions because UFB Direct doesn’t have these accounts.

You may like UFB High Yield Savings if you want a straightforward account. The savings account doesn’t charge monthly service fees, and it comes with a complimentary ATM card. 

UFB High Yield Savings also pays 5.25% (as of 08/11/2023) annual percentage yield (APY). Customers with existing savings accounts may have to call customer service to get upgraded for the newest rate.

Read Insider’s guides to the best savings accounts and the best high-yield savings accounts »

You may favor the UFB High Yield Money Market if you would like a bank account that includes paper checks and a debit card. However, you must maintain a $5,000 balance to avoid a $10 monthly service fee.

This account also pays 5.25% (as of 08/11/2023) APY.

How UFB Direct works

UFB Direct is an online division of Axos Bank. UFB Direct has an online-only high-yield savings account and a money market account.

Usually, savings accounts do not come with ATMs cards. However, UFB High Yield Savings comes with a complimentary ATM card, which is convenient for withdrawing money from ATMs. At other online banks, you may have to transfer money to an external bank account to withdraw money, which can take a few days to process.

The UFB High Yield Money Market has even more access to your money through a debit card and paper checks. You’ll be able to make purchases and payments using a debit card or checks.

Customers have access to over 91,000 ATMs. To find a nearby ATM, log in to online banking and use the ATM locator tool.

Call or use live chat on weekdays from 9 a.m. to 5 p.m. PT if you would like to speak with a Direct Banker.

The UFB Direct mobile app is rated 4.6 out of 5 states in the Google Play store and 4.8 out of 5 stars in the Apple store.

UFB Direct bank accounts are FDIC insured through Axos Bank. Up to $250,000 is secure in individual bank accounts, and $500,000 is protected in joint bank accounts. 

Overall bank rating

Pros and cons 

UFB Direct BBB rating and trustworthiness

We use ratings from the Better Business Bureau to see how banks respond to customer issues.

The BBB gave UFB Direct an A+ rating, and its parent company, Axos Bank, also received an A+ rating.

A good BBB rating won’t necessarily guarantee your relationship with a bank will be perfect. Reach out to current customers or read online customer reviews to see if UFB Direct could be a good match.

UFB Direct vs. Bread Savings

You might prefer UFB Direct if you are strictly looking to earn the highest interest rate on a savings account. Meanwhile the Bread Savings High-Yield Savings Account offers 5.15% APY. Interest rates tend to fluctuate, though, so this may change in the future.

Your decision between two online banking platforms also might ultimately depend on which types of accounts you’d like to open. UFB Direct has a high-yield savings account and a money market account. Bread Savings offers a high-yield savings account and CDs. If you’d like to get a checking account, you’ll have to consider other banks.

UFB Direct vs. Bask Bank

If you’d prefer to earn a more competitive interest rate on a savings account, UFB Direct might be a more suitable choice. However, the Bask Bank Interest Savings Account pays 5.10% APY regardless of your account balance. 

UFB Direct also may be a better option if you’d like accounts with a debit card or ATM card. Bask Bank doesn’t offer debit cards, ATM cards, or an ATM network.

Bask Bank may be a better choice if you’re a frequent traveler. The Bask Bank Mileage Savings Account stands out from most savings accounts because you can earn American Airlines AAdvantage miles on your savings. 

Frequently asked questions

Our experts answer readers’ home-buying questions and write unbiased product reviews (here’s how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own.

HELOC rates are a little higher than current mortgage rates, but despite rising in recent weeks, they could still allow a homeowner to save money on borrowing for construction costs or consolidating debt when compared to personal loan rates or credit card rates.

Current HELOC Rates

Why are HELOC Rates So High?

HELOC rates are so high because the rates for home equity lines of credit change somewhat in accordance with the prime rate, which closely follows the federal funds rate that the Federal Reserve has been raising for months to try and control inflation. The federal funds rate is high, and the prime rate is high, so it’s not surprising that HELOC rates are high.

At its most recent meeting in September, the Fed chose to pause its rate hikes, and it could keep rates steady for the rest of the year

What is a Home Equity Line of Credit?

A home equity line of credit (HELOC) is a type of second mortgage that homeowners can use to get cash to fund home improvement projects, debt consolidation, or other financial goals. It works not unlike a credit card, but the money you’re borrowing comes from your home’s equity.

For homeowners looking to get more from their home’s equity, Insider keeps track of the best HELOC lenders.

Is a HELOC Worth it Right Now?

In this rate environment especially, a HELOC can be worth it if you’re looking to leverage your home’s value to cover a big purchase like a home renovation. Many homeowners gained a lot of equity over that past few years as home prices increased at an unprecedented rate. But because rates are so high now, tapping into that equity can be expensive. 

Should I Get a HELOC? 

If you’re looking to tap into your home’s equity, a HELOC might be the best way to do so right now — especially considering how much home prices have increased over the past few years. Unlike a cash-out refinance, you won’t have to get a whole new mortgage with a new interest rate, and you’ll likely get a better rate than you would with a home equity loan.

But HELOCs don’t always make sense. It’s important to consider the pros and cons.

Pros

• Only pay interest on what you borrow
• Typically have lower rates than alternatives, including home equity loans, personal loans, and credit cards
• If you have a lot of equity, you could potentially borrow more than you could get with a personal loan

Cons

• Rates are variable, meaning your monthly payments could go up if rates increase
• Taking equity out of your home can be risky if property values decline or you default on the loan
• Minimum withdrawal amount may be more than you want to borrow

• GOP presidential candidate Chris Christie has a basic message for House Republicans: Get a speaker.
• “I don’t care. Just pick someone!” he said during a Saturday campaign appearance in South Carolina.
• Christie argued that the speakership holdup is hurting US efforts to aid Israel and Ukraine.

Nearly three weeks after Rep. Kevin McCarthy of California was ousted as House speaker, House Republicans have been unable to coalesce around a successor.

And the frustration has seeped out of the House chamber and spread across the party.

For GOP presidential candidate Chris Christie, he’s already seen enough.

“They asked me on TV on Thursday, ‘Who do you want to be Speaker?’ I said I don’t care. Just pick someone!” Christie said during a Saturday town hall in Charleston, South Carolina.

The former New Jersey governor then remarked that the impasse was preventing the United States from helping its allies across the globe.

“Just pick someone because Israel needs help,” he said. “Ukraine needs help. Our southern border needs to be secured.”

“And Taiwan needs to be armed now so we’re not catching up later,” he continued. “We need to send a message to the Chinese now that Taiwan will be ready if they come.”

House Republicans are set to reconvene on Monday to hear pitches from speaker candidates, with an internal vote for a nominee slated for Tuesday.

After McCarthy was removed from his post, the party turned to House Majority Leader Steve Scalise of Louisiana, but his bid faltered amid a bloc of opposition. Next up was Rep. Jim Jordan of Ohio, who lacked the broad support needed to secure 217 votes and win.

So the race remains open, with a mix of candidates — from House Majority Whip Tom Emmer of Minnesota to Rep. Jack Bergman of Michigan — angling for the post.

Christie during his remarks this weekend said House Republicans have been too preoccupied with “who’s going to get the big office with the view of the National Mall to make sure their ego is okay.”

“Make a decision! Be done already! That’s what we need to do,” he added.

Christie’s comments also come as likely GOP presidential primary voters continue to back former President Donald Trump, with the ex-president boasting significant leads in national polling and most statewide polls.

Once a Trump ally, Christie in recent years has become a major critic of the former president, which has both elevated his candidacy and turned off sizable numbers of GOP voters. However, of all of the early-voting states, Christie is best positioned in New Hampshire, where he’s largely focused his campaign.

In a September CNN/University of New Hampshire poll of likely GOP primary voters, Trump led with 39% support, with entrepreneur Vivek Ramaswamy in second place with 13%, followed by former South Carolina Gov. Nikki Haley at 12% and Christie with 11% support.

• Thousands of people, and their dogs, have donated hair to help clean up Lake Maracaibo.
• Environmentalists will weave nets out of the hair to stop the oil slicks from spreading.
• The tried-and-true method has been an effective oil clean-up tool for decades.

Venezuela’s Lake Maracaibo has been polluted with so much crude oil over the years that it can be seen from space.

Now, a young environmentalist is trying to change that — by asking volunteers to donate their hair to soak up the oil, The Washington Post reported.

Selene Estrach, 28, is the founder of the Venezuelan environmentalist organization Proyecto Sirena. She and her team are collecting the hair and plan to use it later this month.

Estrach told the Post that thousands of people have already donated, and some even brought their dogs in for a haircut to contribute to the cause.

Estrach and her team will use the hair to weave nets — called booms — that can both stop oil slicks from spreading and soak up the oil itself. Estrach told the Post that two pounds of hair can soak up between 11 and 17 pounds of oil.

Estrach told the outlet she’s also developing a way to safely wring out the oil and dispose of it so they can re-use the booms.

Estrach’s work follows in the footsteps of environmentalists who have been working on this method for decades.

In 1989, Alabama-based hairdresser Phillip McCrory created a prototype for an oil clean-up device made of human hair — a device that NASA tested and deemed effective.

McCrory later teamed up with Matter of Trust, a California-based organization that has been creating human hair booms for more than 20 years now.

• Kenneth Chesebro and Sidney Powell were among 19 co-defendants — including Trump — who were indicted in Georgia this year.
• Both of them requested speedy trials and were set to go to trial next week.
• But just before their criminal trials began, Powell and Chesebro flipped and struck plea deals with prosecutors.

Two of Donald Trump’s allies flipped against him at the last minute in a pair of surprise plea deals with Georgia prosecutors.

Sidney Powell and Kenneth Chesebro were set to go to trial starting next week as part of the Fulton County DA’s office’s case alleging Trump and his allies conspired to overturn the 2020 election results in Georgia.

Chesebro and Powell were among 19 co-defendants who were charged in the sprawling RICO case.

The two former Trump lawyers had pushed for a speedy trial date, and Chesebro had asked to be tried separately from the others facing charges.

That was a different strategy than their co-defendants like Trump, who argued his trial date should get pushed back because it was interfering with his 2024 campaign for president.

But just days before they were scheduled to be in court, Chesebro and Powell struck plea deals with prosecutors and agreed to testify against their now-former codefendants, including former New York mayor Rudy Giuliani, former Trump campaign lawyer Jenna Ellis, former White House chief of staff Mark Meadows, and others.

Powell, a longtime GOP lawyer who pushed nonsense conspiracy theories about the 2020 election while working for Trump, struck her deal on Thursday. She pleaded guilty to six counts of conspiracy to interfere with election duties.

As part of the deal, she was ordered to testify at future trials and write a letter apologizing to Georgia citizens.

One day later on Friday, Chesebro followed suit, pleading guilty to one felony count of conspiracy to file false documents. He will also have to testify at future trials and write a letter apologizing to Georgia citizens.

And according to Lawfare’s Anna Bower, Chesebro has already recorded a proffer statement for Georgia prosecutors. A proffer agreement is one in which someone under a criminal investigation or indictment provides prosecutors with relevant information in exchange for a pledge that the information will not be used against them in future proceedings.

The sudden switch is bad news for Trump who, in addition to the Georgia case, is also facing three other criminal indictments related to his post-election activities as well as his business practices.

Trump has pleaded not guilty in all the cases against him.

• Average net worth for Americans shot up 37% between 2019 to 2022.
• Increases were the most pronounced among those under 35, as well as those in the 55 to 64 age group.
• This was due in part to increases in home and stock prices, as well as government stimulus initiatives.

Net worth for the average American skyrocketed 37% during the pandemic, thanks in part to government stimulus initiatives along with higher home and stock prices.

The Federal Reserve’s Survey of Consumer Finances found that net worth for all age groups rose between 2019 and 2022. This was more than double the next-largest increase in net worth since 1989, when the Fed began the survey. Median net worth — which measures household assets like houses and vehicles, minus debts like mortgages and student loans — surged to $192,000 when accounting for inflation.

One of the stand-out numbers was median real net worth gains for Americans under 35 years old, who experienced a 143% rise, the largest of any group. While this group, comprised of younger millennials and Gen Zers, has a much smaller net worth than any other age group, median net worth grew from $16,100 to $39,000 during the three-year period.

The Fed noted in its report that “net improvements in economic performance, including rising house and corporate equity prices that well exceeded consumer price inflation,” led to increases in net worth over the last three years.

For example, younger Americans have been investing more — some because of FOMO, or fear of missing out — and as of 2022, nearly a third of 25-year-olds owned a home, a Redfin analysis found.

So-called DINKs, or couples with “double income, no kids,” also saw huge net worth increases, according to the Fed’s survey.

Americans in the 55 to 64 age group saw median net worth gains of 48%, while those between the ages of 65 and 74 had a 33% rise in median net worth. What’s more, the 65 to 74 group had the highest median net worth at nearly $410,000.

Mark Zandi, chief economist of Moody’s Analytics, told CNBC that much of this wealth increase was caused by low interest rates at the start of the pandemic, which eased borrowing costs for consumers and made it less likely for people to carry high debt loads. Zandi also said home and stock prices, as well as other assets, spiked up after stimulus checks and other government support programs like enhanced unemployment benefits were issued and showed the US would recover from the early shocks of the pandemic.

For instance, median home prices grew from $139,100 in 2019 to $201,000 in 2022. Additionally, participation in the stock market increased from a median of $46,400 in 2019 to $53,200 in 2022 in directly or indirectly held stock between the 50th and 90th income percentiles on the Fed’s survey.

A pause on student loan payments and interest also gave Americans more spending power throughout the pandemic.

Still, these net worth gains have benefited wealthier Americans the most, further exacerbating wealth inequality. Those in the 80th to 90th income percentiles saw median net worth gains of 69%, while those in the bottom 20th percentile only experienced a 24% increase. The Fed said those in the 20th percentile often do not own assets like homes.

This wealth inequality is stark: the median net worth for those in the bottom 20th percentile was $14,000 in 2022. For those in the top 10th percentile, that figure was $2.56 million.

Wealth inequality among racial groups narrowed over the three-year period but still remained elevated, given the average white family had about six times more wealth than the average Black family, according to the Fed.