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Housing and rates are worrying some economists that a recession is looming."One of the biggest concerns is the housing market," said Lindsey Piegza, chief economist for Stifel, on CNNMoney's "Markets Now" live show Wednesday. "It's throwing up a very large red flag and suggests maybe this 4% growth we saw in the second quarter is not sustainable."Home sales?have declined in four of the past five months as housing prices have grown -- but paychecks have remained stagnant. Many people can't afford to buy homes, and those who can are taking on a lot of debt to get into them.Piegza says that echoes what happened right before the Great Recession in 2008."We're not there yet, but this is what led us to the housing crash," she said.How could this happen again? Piegza believes that a decade of rock-bottom interest rates helped people forget about the dangers of borrowing too much."I don't know if we learned our lesson from the Great Recession," she said. "We are going back to a lot of the easy lending that we used to see."Although Piegza said a recession isn't necessarily imminent -- especially after quarterly growth just came in at the fastest pace in almost four years -- there are signs of waning momentum in the economy.Interest rates, for example, are starting to become a bad omen.The Federal Reserve, which finished up its two-day meeting Wednesday, is expected to raise its target rate two more times this year. Higher rates have boosted short-term US Treasury bond rates. But the longer-term bond rates haven't risen along with the shorter-term rates, because investors are growing wary about the economy over the long haul.With two more interest rate hikes planned, the Fed could boost short-term rates higher than long-term ones, inverting the so-called yield curve. An inverted yield curve has preceded every recession in modern history."We could easily be there by the end of the year," Piegza said. "I think we'll see pressure on the longer end by the end of the year, but the Fed will still be raising rates on the short end."Fed Chairman Jerome Powell has said that he is not concerned about an inverted yield curve. Piegza strongly disagrees."It is a predictive measure of a recession," she said. 2266
I am beyond excited to share that @HelloSunshine will be partnering with @AppleTV to bring y’all it’s very first competition series called “My Kind of Country”…. the search for extraordinary country music talent. ?— Reese Witherspoon (@ReeseW) August 17, 2020 267

If you like seeing the night sky light up like a Christmas tree, head outside this week to catch a glimpse at the Perseid meteor shower.It's considered the Northern Hemisphere's most popular meteor shower of the year.This year, it's been active since July, but it's set to peak this Tuesday night into Wednesday morning.NASA says the Perseids are best seen between about 2 a.m. and dawn.If you can't get out to have a look then, you may still be able to catch a glimpse of Perseid meteors the following two nights.Perseid meteors are caused by dust and debris left behind from the tail of the comet Swift-Tuttle. 620
In a small town in Utah, life moves at a slower pace, and social distancing there is easy.“I think it’s quiet,” said Kelton Wells. “I think it’s a beautiful valley and I just love it up here.”Wells owns Keystone Cabinets, where he employs 12 people, including Ned Miller.“I’ve lived here in the valley my whole life,” said Miller. “It’s fun because I can create what I consider works of art.”In a flurry of dust and noise, solid pieces of wood transform, all while people keep their distance.“We have a little bit better spacing here. We don’t have the close shoulder-to-shoulder contact that somebody would over there, Miller said as he motioned with his hand towards JBS Beef Plant.“I feel bad for the people who work there.”Meatpacking may be a world away from cabinetry, but in terms of distance, they are practically neighbors.In June, COVID-19 swept through the facility, infecting nearly 300 of its workers, but the facility stayed open.“Nobody was running around in panic, throwing picket signs up and wanting everybody to put a ‘C’ on their forehead down at the plant,” Miller said with a smile. “I didn’t get that type of a feeling for it.”They still don’t.“What comes will come and we’ll take it as it goes, I guess,” Well said with a shrug of the shoulders. “I don’t think a lot of people were super alarmed by it.”In a town where everyone knows someone who works at the facility, there is a feeling of “life must go on.”“I mean, we all got to survive. Our work has to get done so we do what we can to keep it going and keep people happy,” Wells said.The CDC set up shop for weeks at the health department, making sure people in this community stayed safe and JBS stayed open.“We’ve got a good plan going with JBS,” Josh Greer, with Bear River Health Department, said. “(JBS) has got great controls in place.”The people in Hyrum, Utah are not alone.JBS has had outbreaks at plants in Colorado, Kentucky, Minnesota, Nebraska, Texas and Wisconsin.“I think people are just trying to do the best they can,” Wells said.In Hyrum, the work will go on, whether it is with meat or with wood.In a place where people come to escape the noise of city life, it is hard to escape the question on everyone’s minds.“When will we return to normal and what is the new normal going to be?” Miller asked. 2304
IMPERIAL BEACH, Calif. (KGTV) — Mar Vista High School operated under heightened security Tuesday due to a possible threat.Instruction continued in classrooms but Mar Vista's doors were kept locked as part of the security measures, according to Manuel Rubio, public information officer with Sweetwater Union High School District.The campus resumed normal operations just before 1 p.m.The school district was working with the San Diego Sheriff's Department to investigate a possible threat posted to social media, Rubio said.The threat was later determined to be unfounded, though the campus would have increased security through the day, according to Rubio. 679
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