US Housing Market Crumbling!

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What’s Hot? Jan Sramek's covert $800M mysterious "mega-city" project near San Francisco, backed by tech giants, emerges amid intrigue. Facing local scrutiny and CA zoning challenges, its fate remains uncertain: "Will it make it past the drawing board?"🤔

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🏠 El-Erian: Fed Actions May Have Crumbled Housing Market Supply & Demand

Economist Mohamed El-Erian warns the Federal Reserve's aggressive interest rate hikes may have "broken" the US housing market. With mortgage rates hitting a 23-year-high of 7.48%, both housing supply and demand are impacted. El-Erian states, "When you go from record-low mortgage rates... you've destroyed both demand and supply." He cautions that these actions, aimed at managing inflation, risk leading the US toward a recession.

🌍 Bali & Java jolted by strong quake; no casualties

A 7.1 magnitude earthquake and subsequent aftershocks struck Bali and neighboring Indonesian regions, prompting panic. While no immediate casualties were reported, many, fearing a tsunami, sought higher ground. "I thought the walls were going to come down on the hotel,” commented an Australian tourist. Indonesia's Meteorology agency dismissed tsunami concerns but warned of aftershocks.

🌊 Japan faces Chinese backlash: Schools egged, businesses targeted over Fukushima decision

Tensions surge between Japan and China after online harassment targets Japanese citizens and businesses over the Fukushima wastewater release. Tokyo calls out the harassment, urging China to intervene. Videos on Chinese social media show hostile calls to Japanese entities, and Japanese schools in China also face threats.

🇯🇵 Japan nears turning point in 25-year deflation fight, says government

Japan is nearing a pivotal shift in its 25-year deflation battle, with both the government and the Bank of Japan observing expanding wage and price rises. The government's report suggests a potential reduction in fiscal support, citing a shift in "price- and wage-setting behavior." Despite a 4.2% core inflation peak in January, the nation must address the "sticky deflationary mindset" before confirming deflation's end.

🌕 Chandrayaan-3 measures lunar south pole temperature for the first time

On Aug. 23, India's Chandrayaan-3 marked a historic first by landing near the moon's south pole. Its rover, Pragyan, explores the lunar terrain, recently discovering a 13-foot-wide crater. The mission's ChaSTE experiment has begun mapping the moon's surface temperatures, achieving a first for the lunar south pole. ISRO confirms, "All payloads are performing normally."

📦 Amazon hikes free shipping threshold to $35 for select users

Amazon has increased its free shipping minimum for non-Prime members from $25 to $35. Ecommercebytes first reported this change, indicating zip code-based testing. Prime members retain free delivery on over 300 million items, says Amazon spokesperson Kristina Pressentin. Amazon has previously adjusted its free shipping threshold, sometimes to rival Walmart.

🤼‍♂️ Bray Wyatt Passes Away from Heart Attack

WWE star Bray Wyatt (Windham Rotunda) died at 36 due to a heart attack, ignoring doctors' advice. Renowned for inventive characters, he won three WWE world titles. Wyatt once said on a podcast, "When I go out there, it's because I want to deliver something special... And I think that will be my legacy."

🎬 'Barbie' Tops Warner Bros. Charts with $1.34 Billion Global Box Office

"Barbie", directed by Greta Gerwig and featuring Margot Robbie, has become Warner Bros.'s all-time top earner with $1.342 billion. Robbie had confidently predicted its success, stating, "You’ve got Barbie and Greta Gerwig." To celebrate, Warner Bros. is releasing a special IMAX version on Sept. 22, with Gerwig saying it's for "the biggest screen of all" and promising additional footage.

🚌 NYC to fund Ubers & Lyfts for students amid potential bus driver strike

NYC readies Uber, Lyft, and MetroCard backups if the yellow bus union strike persists. Chancellor Banks is hopeful for resolution but preps alternatives, including 4-trip MetroCards for students and guardians. Disabled, migrant kids may get rideshares, and families up to $200/day. Mayor Adams pledges uninterrupted learning for 80K affected students amidst NYC's contingency plan.

🗓️ Trump DC trial in March 2024 amidst GOP presidential race

Donald Trump faces trial on March 4, 2024, for his 2020 election overturn attempt, a day before "Super Tuesday" Republican primaries. Judge Tanya Chutkan said, “Mr. Trump will have to make the trial date work, regardless of his schedule." Leading in polls, Trump deems the cases against him politically motivated, with three additional civil trials pending.

🤖 Pentagon fast-tracks autonomous systems to Challenge China

Deputy Defense Secretary Kathleen Hicks launches Replicator, aiming to deploy thousands of autonomous systems in 2 years to counter China's weapon stockpile. It echoes Ukraine's defense vs. Russia and drives innovation top-down. Replicator focuses on autonomous systems across domains to counter China's strength. Costing hundreds of millions, it sets a template for future tech deployment.

On August 29, 1997, American entrepreneurs Reed Hastings and Marc Randolph established Netflix as a DVD-by-mail service, stemming from Hastings' experience of being fined for a late movie rental. The company's scope evolved to include streaming, ultimately amassing millions of subscribers.

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