All posts tagged: hardship

Tehran Claims US Faces Escalating Economic Fallout From ‘War Of Choice’ As Hardship Mounts Inside Iran

Tehran Claims US Faces Escalating Economic Fallout From ‘War Of Choice’ As Hardship Mounts Inside Iran

Published by Jenni Sidey

Iranian Foreign Minister Abbas Araghchi warned Saturday that the United States would face mounting economic fallout from its “war of choice” against Iran, as both sides appear settled into a long game of waiting to inflict the most severe economic and political damage on the other. In a post on X, Araghchi said Americans would bear the escalating financial costs of the conflict with Tehran. “Put aside gas price hike and stock market bubble. Real pain begins when U.S. debt and mortgage rates start to jump,” he wrote in English. This isn’t the first time Iranian officials and state media have tried to directly appeal to the American public. Araghchi also pointed to growing economic strain inside the United States, saying auto loan delinquencies had already climbed to their highest level in more than 30 years. “This was all avoidable,” he added, framing the start of the conflict as Trump’s ‘war of choice’ in the Middle East. Of course, the Pentagon has a big card to play too, as on Saturday US Central Command (CENTCOM) announced …

Intelligence makes people more trusting, but early hardship cuts this benefit in half

Intelligence makes people more trusting, but early hardship cuts this benefit in half

Published by José Betancourt

Growing up in a disadvantaged environment not only hinders cognitive development but also weakens a person’s default willingness to trust others later in life. A recent study published in Personality and Social Psychology Bulletin reveals that while higher intelligence generally makes people more trusting, early childhood adversity cuts this social benefit in half. These findings suggest that childhood hardships create long-lasting barriers to social mobility by preventing individuals from reaping the typical rewards of their cognitive skills. Trusting strangers is a fundamental requirement for a functioning society. Generalized trust is the basic belief that other people are generally reliable and will not exploit you. Economists and psychologists view this kind of trust as a foundation for cooperation, economic prosperity, and overall well-being. People who trust others are more likely to build strong networks and succeed in their careers. Previous research consistently links higher cognitive ability to higher levels of generalized trust. Researchers generally define cognitive ability as a person’s capacity for memory, reasoning, and problem-solving. People with stronger cognitive skills are often better at recognizing …

archives reveal hardship faced by the families of those killed in 1916

archives reveal hardship faced by the families of those killed in 1916

Published by Sam Flores

On November 26, 1923, a woman named Anne McCormack applied for a military dependent’s pension on the grounds of her husband, James McCormack’s death. He had been a soldier in the Irish citizen army, under the socialist and revolutionary leader, James Connolly. This group was committed to the establishment of a workers’ republic. Its members participated in the week-long armed insurrection of 1916 known as the Easter Rising. James McCormack was shot in the head on the second day of the rising, April 26, 1916. Records held in the Military Service Pensions Archive show he died where he fell on Moore Lane, close to the General Post Office, the epicentre of the rising. For many years following the establishment of the Irish state (today’s Republic of Ireland) in 1922, the focus of Irish historians, not to mention the general public, was on those, like James McCormack, who died for Ireland. Annual commemorations of the 1916 rising were focused on those executed by the British or killed in the fighting. But little attention was paid to …

‘Children bring more hardship than joy’: Readers on why the birth rate is falling

‘Children bring more hardship than joy’: Readers on why the birth rate is falling

Published by Daniella Wilson

Join the Independent Women newsletter with Victoria Richards for a thoughtful take on the week’s headlines Join the Independent Women newsletter  Join the Independent Women newsletter  Charlotte Cripps’ exploration of falling birth rates and “unplanned” childlessness has sparked a strong response from Independent readers, revealing the complex interplay between men’s readiness and economic pressures. Many emphasised that men’s immaturity is only part of the picture. While some men are eager and committed to fatherhood, financial realities – soaring housing costs, childcare expenses, and the need for dual incomes – heavily shape family planning, constraining both men and women. The rising cost of living and precarious employment make raising children daunting, several argued, leaving many households struggling. Others pointed to societal expectations and pressures that can cause men to hesitate, even when they are ready to be good fathers. In all, a clear theme emerged: blaming either gender for the falling birth rate oversimplifies the issue. Structural, cultural, and economic factors are central to when – or if – people have children. Here’s what you had …

401(k) Hardship Withdrawals Hit Record High

401(k) Hardship Withdrawals Hit Record High

Published by Jenni Sidey

The AI bubble and data center buildout have helped catapult equity markets to new highs (pre-Middle East conflict), minting a record number of 401(k) millionaires. However, beneath the surface, hardship withdrawals from 401(k) plans have also climbed to a record, reinforcing the view that the K-shaped economy is becoming more entrenched. Vanguard’s How America Saves 2025 report shows that hardship withdrawal activity “increased to a new high” of 6% in 2025, up from 4.8% in 2024 and about 2% before the pandemic. The increase marks the sixth straight annual rise since Congress eased the rules in 2018 by removing the requirement that participants first take a 401(k) loan. Vanguard said the median hardship withdrawal was about $1,900 for avoiding foreclosure or eviction (36%), paying medical expenses (31%), and covering tuition (13%). “Given that it’s now easier to request a hardship withdrawal and that automatic enrollment is helping more workers save for retirement, especially lower-income workers, a modest increase isn’t surprising,” the Vanguard report said. The report noted, “For a small subset of workers facing financial …

Cuba’s economy on edge: Fuel shortages and rising hardship | Politics

Cuba’s economy on edge: Fuel shortages and rising hardship | Politics

Published by Sam Flores

Havana, Cuba – Eight days before United States President Donald Trump signed an executive order threatening tariffs on countries supplying oil to Cuba, 26-year-old twins Sandra and Sabrina Gonzalez received a devastating email. “Due to U.S. regulatory requirements, Airbnb must deactivate certain listings. Unfortunately, this applies to your listing(s) in Cuba … All upcoming reservations will be canceled today,” reads the email dated January 21. “By that point, all our booking dates had been blocked, and all our reservations from January to April had been automatically cancelled,” said Sandra, a resident of Havana. Sandra’s family has been running two bed-and-breakfasts through Airbnb since 2016, when Cuba’s tourism industry boomed following the historic normalisation of relations under the administration of former US President Barack Obama. Their business survived Trump’s tourism sanctions during his first term and the disruptions caused by the COVID-19 pandemic. After further research, the sisters discovered that only Cuban hosts with US bank accounts linked to their listings had been affected. In a bid to salvage the situation, they tried to reach their guests …