Housing Starts Collapse Near COVID Lows As Homebuilder Confidence Crashes

3rd Burning Man Attendee Dies En Route To Hospital Authored by Jill McLaughlin via The Epoch Times, A third person has died at this year's Burning Man Festival in the Nevada desert, according to the local sheriff's office. Details about the death, reported on Sept. 8, were not released as festival attendees faced the usual traffic jam on their way home from the annual event in Black Rock Desert about 110 miles north of Reno. The death occurred en route to a Reno-area hospital on Sept. 4, according to the Burning Man Project. "We...

Good Intentions Paved The Road To The 2008 Financial Crisis Authored by Paul Mueller via The Daily Economy, This week marks the eighteenth anniversary of the failure of Lehman Brothers, a key event of the 2008 global financial crisis (GFC). Lehman's failure and the GFC more broadly were dramatic economic events. Lehman Brothers was the largest bankruptcy in US history to date. The global financial crisis gave rise to the Great Recession. The stock market fell by more than 50 percent, the economy contracted by 4.3 percent, unemployment rose from 4.7...

Beijing Boosts BeiDou Satellite System To Try And Compete With GPS China is upgrading its BeiDou satellite navigation system, a domestic alternative to GPS, to expand its global reach and industry use, according to South China Morning Post. The plan involves replacing older satellites with newer third-generation models and adjusting their orbits to improve worldwide coverage. The system will be streamlined from 50 to 37 active satellites, most operating in medium Earth orbit like GPS and Europe’s Galileo. A few satellites will remain in specialized orbits to improve signal reliability in certain...