Credit Card & Car Loan Defaults at 10-Year High

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💰 US Deficit Set to Nearly Double This Year, Warns Watchdog

The U.S. deficit is projected to double to about $2 trillion this year due to higher interest rates, reduced tax revenue, and inflation. Marc Goldwein from Federal Budget notes various contributors, saying, "It’s no one thing that’s causing us to go from $1 trillion to $2 trillion. It’s like six things." Pandemic spending led to record deficits in 2020 and 2021. Despite an anticipated decrease in 2024, a long-term upward trend is likely.

📈 10-Year High: Credit Card & Car Loan Defaults Soar Due to Inflation Pressure on Families

Soaring inflation triggers credit card and auto loan defaults, echoing the financial crisis. Despite Fed efforts, rising prices strain low- to middle-income Americans. Credit card delinquencies hit 3.8%, and car loan defaults at 3.6%, a decade high. With pandemic savings gone, borrowers open credit lines at 20.6% interest. As rates could rise further and the student loan moratorium ends, tougher times loom.

🤝 Kim Jong-un to Make Rare Trip to Russia for Meeting with Putin
Kim Jong-un plans Russia's visit for talks on supplying weapons for the Ukraine conflict, raising concerns about deepening Russia-North Korea ties."Arms negotiations" progress, says Adrienne Watson of the National Security Council. Earlier, Russian officials, including Defense Minister Sergei Shoigu, visited artillery deals in North Korea. Potential Kim-Putin meeting in Vladivostok during Eastern Economic Forum adds to worries.

🇨🇳 2 Detained for Damaging Great Wall with Excavator in China

Two were detained in China for damaging the Ming Dynasty Great Wall with an excavator to create a shortcut, causing "irreversible" harm, reported CCTV. The incident happened in Shanxi's Youyu County on August 24. The damaged section, known as the 32nd Great Wall, has been a provincial cultural relic site and UNESCO World Heritage site since 1987. An investigation is ongoing, authorities said.

🚫 Microsoft to Retire WordPad After 30 Years

Microsoft is discontinuing updates for WordPad, the basic Windows word processor, and plans its removal from future releases. Users are advised to switch to Microsoft Word for richer text documents and Notepad for plain text. This follows recent upgrades to Windows Notepad, while WordPad has seen minimal updates since Windows 8. "WordPad is no longer being updated and will be removed in a future release of Windows," says Microsoft's support note.

🚀 Snapchat to surpass TikTok as 2023's top-growing platform

Snapchat's user base has doubled since 2018, with 550 million users in 2022 as unique features like Stories and Spectacles contributed to this growth. Projected for a 13.4% user increase in 2023, Snapchat is set to outpace TikTok and Instagram. Meanwhile, Facebook dominates social media advertising with a 55% market share. Despite competition, it remains the top choice for 90% of marketers, compared to 10% for Instagram and 3% for TikTok.

🎵 Gary Wright, 'Dream Weaver' singer, passes away at 80

Musician Gary Wright, famed for "Dream Weaver" and "Love Is Alive," dies at 80. A Spooky Tooth member, he played on George Harrison's albums and other hits. His '70s synthesizer-driven style defined hits. "The Dream Weaver" album launched him to fame. Despite waning chart success, his songs endured through covers and samples. Quoted: "Dream Weaver" creator leaves an indelible musical mark.

🎮 SAG-AFTRA Board Unanimously Approves Video Game Strike Vote for Members

SAG-AFTRA's National Board plans a strike authorization vote for members ahead of negotiations with major video game companies, including Activision and Disney. Key concerns are fair wages, AI safeguards, and industry protections. President Fran Drescher decries greed, stating, "SAG-AFTRA is standing up to tyranny on behalf of its members." The union seeks equity for on-camera performers and voice artists, aligning with ongoing contract strikes.

🚫 Manchester United's Antony Excluded from Brazil Squad Amid Investigation

Brazilian footballer Antony dropped from the national squad amid fresh domestic violence allegations by his ex-girlfriend. Manchester United's Antony, 23, withdrew from CONMEBOL World Cup qualifiers against Bolivia and Peru due to ongoing investigations. Antony denies wrongdoing, while Manchester United stays silent. Police investigations are active in Brazil and Manchester.

🚫 Burning Man Attendees Stuck in Mud Urged to Save Food

Thousands at Nevada's Burning Man urged to conserve resources due to heavy rain and mud, with a death under investigation. As Black Rock City's entrance is closed. stranding attendees of the countercultural festival with RV campers aiding those in vulnerable tents. Despite setbacks, the event continued with art installations and the burning of a giant sculpture.

🔍 FBI Collects 21 Million DNA Samples, Rivaling China's Pace

The FBI holds 21.7 million DNA profiles, planning to double its budget for increased Homeland Security collections. This sparks concerns about a universal DNA database and civil liberties. The surge follows a Trump-era rule change and advances in DNA technology. Notably, China's DNA program's abuses draw parallels to US worries.

🦠 Jill Biden tests positive for COVID with mild symptoms: White House

First Lady Jill Biden tested positive for COVID-19 post-weekend with President Biden. She's experiencing mild symptoms and isolating at their Delaware home. President tested negative but will undergo regular testing and monitoring. They recently visited Florida and their beach house. Both had previous mild COVID cases. Jill tested positive in August 2022, and the President in July 2022.

On 5th September 2001, during a scientific conference held in Washington, D.C., researchers presented their findings regarding energy flares. These findings presented compelling evidence in support of the long-theorized black hole situated at the core of the Milky Way Galaxy.

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