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Nearly 2 in 5 credit cardholders — 37% — have maxed out or come close to maxing out a credit card since March 2022. A report by Bankrate said most over-extended borrowers blame rising prices and a higher cost of living. Other reasons include a job or income loss, an emergency expense, medical costs and too much discretionary spending. The average balance per consumer now stands at $6,329, up 4.8% yearly, reports TransUnion. The average credit card charges over 20% interest — near an all-time high — and half of cardholders carry debt from month to month, says another report by Bankrate. Credit experts generally advise borrowers to keep revolving debt below 30% of their available credit to limit the effect that high balances can have. According to Bankrate's analysis of Equifax data, the aggregate credit card utilization rate was over 21% as of August. The Federal Reserve Bank of New York and TransUnion reported that credit card delinquency rates are already higher across the board. https://lnkd.in/g2kXtNYq

The Roman Catholic Archdiocese of Los Angeles has agreed to pay $880 million to 1,353 people who alleged that they were sexually abused as children by Catholic priests. Archbishop Jose H. Gomez said Wednesday, “I am sorry for every one of these incidents, from the bottom of my heart. My hope is that this settlement will provide some measure of healing for what these men and women have suffered.” The Archdiocese began mediating the abuse claims after California enacted a law that allowed new lawsuits to be based on past instances of sexual abuse involving minors. The California law and similar laws in other states have driven many large Catholic organizations to seek bankruptcy protection around the US. In California, the Archdiocese of San Francisco and the dioceses of Oakland and San Diego have filed for bankruptcy to resolve similar abuse claims. Gomez said the Los Angeles Archdiocese would pay victims from cash reserves, investments, loans and contributions from other religious organizations named in lawsuits. https://lnkd.in/gZFwC8WF

Over 800 US military veterans penalized under “Don't Ask, Don't Tell” have been honorably discharged years after its repeal. https://lnkd.in/gEhwZn4B

Research finds that social media users are likelier to engage with posts that provoke rather than affirm their political beliefs. The findings, published in the academic journal “Organizational Behavior and Human Decision Processes,” shed light on the emotional dynamics that drive online engagement. One of the study’s authors said they commonly observed “negative sentiments posted by users with ideology-inconsistent views dominated the threads, and we wanted to reconcile this pattern with the well-established finding that people tend to avoid information inconsistent with their beliefs.” Field studies using Facebook ads showed that users were more likely to click on and comment on posts opposing their political views, providing evidence for the “confrontation effect.” The confrontation effect is driven by outrage, pushing people to respond to opposing viewpoints. It was judged stronger for personally or socially significant topics, such as Covid vaccines, compared with less important topics like smartphone brands. The authors say commenting on opposing views can reduce people's emotional distress or outrage, suggesting a possible emotional relief mechanism. The study acknowledges limitations, including the complexity of measuring engagement on different social media platforms and the focus on political content. https://lnkd.in/g-jdPqgz

Despite the advances made during Covid, an international body warned the next pandemic will likely “catch the world napping.” The Global Preparedness Monitoring Board said in its annual report today that many of the modern world's defining features — urbanization and intensive farming to inequality and the advent of artificial intelligence—are driving up the risk of a new pandemic. The board called for urgent action. The warning comes as H5N1 bird flu continues to spread from infected cattle and poultry to humans in the US, a variant of mpox is increasing in central Africa, and an outbreak of Marburg — a cousin of Ebola with a fatality rate of up to 88% – has flared in Rwanda, killing over a dozen people. The GPMB, convened by the World Health Organisation and the World Bank, said the movement of people around the world “is at a record high and is likely to continue to increase in the coming years,” while a dramatic increase in global livestock numbers is already driving the spread of H5N1. The GPMB attributes the rise of social media to increased misinformation that public health organizations and governments struggle to contend with. It also cites a “decline in trust” in governments and institutions. “This is impacting our collective capacity both to tackle health emergencies and to find multilateral solutions to protect the world.” The GPMB said trust must be rebuilt and actions taken to “demonstrate that we can work together as a global community in an equitable manner.” https://lnkd.in/gd6HQTqU

The World Wildlife Fund (WWF) reports that monitored wildlife numbers shrunk by nearly 75% on average over the past 50 years. In the latest edition of its Living Planet Report, which monitors population trends across nearly 5,500 species in 1970–2020, the WWF found vertebrate wildlife populations fell by 73% on average, freshwater wildlife populations 85%, land-based populations 69%, and sea life 56%. The WWF said the percentages measure the average change across monitored populations and are not a worldwide drop. Habitat loss and degradation were primarily driven by food production, accounting for 70% of water use and over 25% of greenhouse gas emissions. The WWF criticized the European Union’s decision to delay implementing anti-deforestation regulations, noting Amazon rainforest fire outbreaks had a 14-year high in August. It said Coral reefs faced a fourth mass global bleaching event this year. https://lnkd.in/gPwVBzcz

Americans are revolting against McDonald’s and fast-food chains. That’s hurting french fry suppliers like Lamb Weston. Lamb Weston, the largest french fry producer in North America and a major supplier to fast-food chains, restaurants and grocery stores, is closing a production plant in Washington state and laying off nearly 400 employees, or 4% of its workforce. Restaurant prices have increased faster than grocery store prices in recent years, leading customers to pull back at fast-food chains. Around 80% of french fries consumed in the US come from fast-food chains, Lamb Weston said. Lamb Weston said customers at fast-food chains dropped 2% last quarter and 3% the previous quarter compared with last year. French fry consumers have also reduced the size of their orders from large to medium or to small to save money and seek value in special meal offers. https://lnkd.in/grMrygDx

Hurricane Milton will ramp up in intensity today, with cities at risk of tornadoes, the Storm Prediction Center (SPC) warns. The SPC said over three million people in parts of central and southern Florida, including Fort Myers, Sarasota, and Melbourne, are now at an enhanced risk (Level 3 of 5) of severe thunderstorms. The enhanced risk area, which covers southern to central Florida, has a slight risk of tornadoes (Level 2 of 5). It is home to over 10 million people, including Miami, Tampa and Orlando. Tornadoes are the main threat. Hurricane conditions are expected in some areas beginning Wednesday evening through early Thursday and are possible in other areas on Thursday. Florida’s Department of Health warned residents to avoid floodwaters as they increase the risk of Vibrio infections, such as Vibrio vulnificus, which can be life-threatening. People should avoid swimming or wading in floodwaters, cover open cuts or wounds with waterproof bandages, and wash their skin thoroughly with soap and water if they come in contact with the water. https://lnkd.in/dnbf_sFV

Rapid improvements in life expectancy achieved in the 20th century have slowed dramatically in the past three decades. If 100 is to become the new 80, radical medicines that slow the aging process are needed rather than better treatments for common killers such as cancer, dementia and heart disease, according to a study of the world’s longest-living populations. The University of Illinois at Chicago study delved into US statistics and nine countries with the highest life expectancies, focusing on 1990–2019, before Covid. In the previous 2,000 years, experts say life expectancy crept up, on average, one year every century or two. In the 20th century, average life expectancy rocketed, with people gaining an extra three years every decade. But data from Hong Kong, Japan, South Korea, Australia, France, Italy, Switzerland, Sweden and Spain showed life expectancy rises slowed, growing 6.5 years in 1990–2019. In the US, it fell. Steven Austad, a professor of healthy aging at the University of Birmingham, Alabama, commented: “Advances [in treating the underlying biological processes of aging] are making their way to clinics. … The authors’ projection for a continued gradual slowing for the rest of this century strikes me as premature.” https://lnkd.in/giSC4R_S

The arrival of over 500,000 school-age children since 2022 has strained some school budgets and affected instruction. A Reuters survey found school districts hired more English as a Second Language (ESL) teachers and consultants. Districts described difficulties communicating with parents or a lack of interpreter services. “Textbooks are not in their language. Resources are not easily available. Google Translate does not work that great,” the Springfield City school district in Ohio said in response to the survey conducted between late August and September. Seventeen districts said they requested additional state funds to help immigrant students. Twelve reported receiving additional funds, including a district in New Jersey that said it still wasn’t enough to hire an ESL supervisor. Ten districts said their teachers were not well trained or received no training to meet the needs of new immigrant students, and 42 said they would welcome more training on how to teach kids who don’t speak English, how to approach different cultural norms and how to help kids recover from trauma. https://lnkd.in/gmiYhjrm