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US National Debt Hits $40 Trillion: What Rising Treasury Yields Mean for Thailand

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US National Debt Hits $40 Trillion: What Rising Treasury Yields Mean for Thailand

The United States has crossed a fiscal threshold few forecasters expected to see this year. The Treasury Department confirmed on August 19 that total gross national debt has surpassed $40 trillion, a milestone that arrived months ahead of schedule and comes wrapped in a set of numbers few Americans, or investors anywhere else, can easily process: roughly $117,000 per person, $297,000 per household, and a figure that now approximates the combined economic output of China, Germany, Japan, the UK, and India put together.

For Thailand, a small open economy with deep trade and capital-market links to the US dollar system, the milestone is not just an American headline. It touches everything from the baht’s exchange rate to the cost of servicing Thailand’s own public debt.

A Fiscal Milestone Years Ahead of Schedule

The US debt load has effectively doubled in under a decade, rising from roughly $19.4 trillion ten years ago to $40 trillion now. It took the country close to two centuries to accumulate its first trillion dollars of debt; it now adds that amount in under five months. Interest payments on the debt have grown large enough to exceed the entire US national defense budget, a threshold that budget hawks in Washington have flagged as a warning sign of fiscal strain.

Part of what pushed the milestone earlier than expected was a shortfall in tariff revenue after several of the White House’s trade levies were invalidated in court, cutting into a funding stream the administration had counted on. Treasury reported a monthly deficit of $432.3 billion in July, the highest since March 2021, with the year-to-date shortfall nearing $1.8 trillion.

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Long-term borrowing costs have moved with the debt. The 30-year Treasury yield touched its highest level since 2007 this month, at 5.31 percent, while the 10-year sits near 4.7 percent. Those yields are not abstract numbers confined to Washington; they set the benchmark price of global capital, including the capital that flows into and out of Thai bonds and equities.

Rising Yields, Global Ripple Effects

Elevated US yields tend to pull capital toward dollar assets and away from emerging markets, Thailand included. TBN has previously examined the fragility signals building beneath record-high global equity markets, noting that concentration risk in US indices and stretched valuations leave the current wave of capital flowing into Southeast Asia more exposed than headline numbers suggest. A further leg up in US yields, driven by concerns over debt sustainability, would test that inflow directly.

The mechanism is already visible in Thai bond markets. The 10-year Thai government bond yield has climbed toward 2.3 percent this year, its highest level since February 2025, as the spread over comparable US Treasuries, currently around 200 basis points, keeps global funds calibrating their exposure to Thai fixed income against what Washington is paying. Foreign investors pulled over a billion dollars out of Thai bonds in a single month earlier this year during a bout of global risk aversion, a reminder of how quickly sentiment can turn when US rate expectations shift.

The Baht, Capital Flows, and Thai Debt Servicing

The interest-rate gap between the Federal Reserve and the Bank of Thailand has been the dominant force behind the baht’s moves in 2026. With the Fed’s policy range sitting 250 to 275 basis points above the BOT’s 1.00 percent rate, the dollar has retained a structural carry advantage that has periodically pushed USD/THB toward the 34 level. TBN has tracked this dynamic through the year, noting that Thailand’s roughly $279 billion in gross reserves provide a substantial buffer, meaning the current pressure looks more like a repricing than a funding crisis.

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A US debt trajectory that keeps Treasury yields elevated, or pushes them higher still as investors demand greater compensation for holding US paper, would work against any near-term narrowing of that rate gap. That matters for the BOT, which has generally leaned toward an accommodative policy stance to support a fragile domestic recovery; a widening differential limits how much room the central bank has to cut further without triggering renewed baht weakness.

For the Thai government’s own borrowing, the read-through is more indirect but still relevant. Thailand’s public debt-to-GDP ratio stood at roughly 64 percent in the most recent fiscal year, low by comparison with many advanced economies, and the government funds the bulk of its needs domestically. But global benchmark yields still act as a floor beneath what Thailand pays to borrow, particularly for the growing share of debt issued to fund stimulus and energy-relief measures. The Public Debt Management Office has already leaned on notes and term loans this year as a liquidity cushion amid rising yields, a sign that Thailand is not entirely insulated from the global repricing of sovereign risk that a $40 trillion US debt load represents.

Thailand’s Relative Position

Set against Washington’s numbers, Thailand’s fiscal position looks comparatively conservative. Thai government debt equal to roughly 64 percent of GDP compares with a US debt load now approaching the full size of American GDP, a threshold economists have long treated as a red flag for fiscal sustainability. Thailand’s debt is also overwhelmingly baht-denominated and domestically held, reducing the currency-mismatch risk that has destabilized other emerging economies during past periods of dollar strength.

That relative discipline has not fully insulated Thai assets from global spillover, as the SET Index’s sharp swings this year illustrate, but it does give Thai policymakers more flexibility than counterparts in more heavily indebted economies. Bangkok’s growing appeal to global wealth, documented in TBN’s recent look at the city’s ultra-high-net-worth population growth, reflects in part a search for stability and institutional credibility at a moment when confidence in the fiscal trajectory of larger economies is being openly questioned.

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What to Watch

The US debt path is likely to shape several storylines relevant to Thailand and the wider region over the coming months. The Federal Reserve’s rate decisions will remain the single biggest swing factor for the dollar-baht rate gap, with any hawkish surprise driven by inflation or fiscal concerns adding further pressure on the baht. Washington’s next debt-ceiling fight is also likely to arrive earlier than usual given the accelerated pace of borrowing, a recurring source of volatility for global risk assets. And with foreign holders of US debt watching yields climb to multi-decade highs, any shift in appetite for Treasuries, from China, Japan, or other major holders, would ripple quickly into emerging-market currencies and bond spreads, Thailand’s included.

For now, Thailand’s reserves, current account position, and comparatively modest public debt load offer a cushion. But a US fiscal trajectory adding trillions of dollars in debt every few months is a structural headwind that Thai policymakers, businesses, and investors will need to keep watching closely.

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Nvidia’s Real Test Comes After Earnings (NASDAQ:NVDA)

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Nvidia’s Real Test Comes After Earnings (NASDAQ:NVDA)

This article was written by

Hi, I’m Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. business schools. Investment Style: Spotting high-potential winners before they break out, focusing on asymmetric opportunities (with at least upside potential of 3-5X outweighing the downside risk). By leveraging market inefficiencies and contrarian insights, we seek to maximize long-term compounding while protecting against capital impairment.Risk management is paramount—we seek a strong margin of safety to protect against capital impairment while maximizing long-term compounding. Our 2-3 year investment horizon allows us to ride out volatility, ensuring that patience, discipline, and intelligent capital allocation drive outsized returns over time.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Solving Puzzle Number 1,168 Without Spoilers Now

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Nancy Guthrie

Fans of the New York Times’ popular word-grouping game Connections have a fresh puzzle to work through for Saturday, Aug. 22, 2026, marking game number 1,168 in the daily franchise. Below are hints organized by difficulty level, followed by the complete answer set for anyone ready to check their work.

Connections challenges players to sort 16 words into four groups of four, with each group sharing a hidden theme or connection. The puzzle assigns a color-coded difficulty level to each category: yellow represents the most straightforward group, followed by green, then blue, with purple reserved for the trickiest and most conceptually deceptive category of the day. Players are allowed up to four incorrect guesses before the puzzle ends and the full solution is revealed automatically. The game, created by New York Times puzzle editor Wyna Liu, launched in beta in June 2023 and has since grown into the second-most-played puzzle in the Times’ games lineup, trailing only Wordle itself in overall popularity.

According to Tom’s Guide, which rates each day’s puzzle difficulty on a five-point scale using its own Connections Companion tool, Saturday’s puzzle scored a relatively low 1.3 out of 5, indicating an easier-than-average solve compared with earlier in the week.

Here are hints for each of today’s four categories, presented from easiest to hardest.

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The yellow group, the most straightforward of the day, centers on a set of common workshop tools used for cutting and shaping wood. One hint offered by puzzle solvers described it simply as “handy,” a nod to tools used to drive nails, carve wood and smooth surfaces.

The green group focuses on a specific category of fruit, distinguished by compound names that each begin with a different descriptive word attached to the same base term. One clue offered for this category noted that “summer makes them sweeter,” pointing toward warm-weather produce.

The blue group centers on settings commonly found on an adjustable garden hose nozzle, the kind used to water plants or wash a car, with each answer representing a different spray pattern. A hint circulating among puzzle solvers specifically noted, “Don’t forget to water the plants.”

The purple group, traditionally the most conceptually challenging category each day, links four well-known cultural references that all share a common trailing word. According to hints shared by solvers, the connection draws from entertainment and pop culture more broadly, spanning references from television, film and music. One clue pointed players toward well-known “Girls” references, comparing the category to groups like Destiny’s Child or the ensemble cast of the sitcom “Living Single.”

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Spoiler warning: The full answer set for today’s Connections puzzle follows below.

The complete answers for NYT Connections puzzle number 1,168, published Saturday, Aug. 22, 2026, are as follows:

Yellow Group — Carpentry Tools: CHISEL, HAMMER, PLANE, SAW

Green Group — Kinds of Melon: BITTER, MUSK, WATER, WINTER

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Blue Group — Garden Hose Settings: CONE, JET, MIST, SHOWER

Purple Group — ___ Girls of Pop Culture: GILMORE, GOLDEN, MEAN, SPICE

The purple category proved to be the day’s trickiest grouping precisely because its connecting word, “Girls,” follows each answer rather than preceding it, and because two of the four words carried plausible alternative meanings that could easily mislead solvers. GOLDEN could reasonably be read as a descriptor tied to age or color, while MEAN might just as easily be interpreted as either “average” in a mathematical sense or “unkind” in a personal one, rather than immediately calling to mind the 2004 teen comedy film “Mean Girls.” GILMORE and SPICE, by contrast, tended to be recognized more quickly by solvers given their strong and specific associations with the television drama “Gilmore Girls” and the pop group Spice Girls, respectively.

Several of the puzzle’s other categories also included deliberate decoys designed to mislead solvers into premature groupings. The words PLANE and JET, for instance, could easily tempt players into forming an aviation-themed group together, when in fact PLANE belonged to the carpentry tools category and JET belonged to the garden hose settings group instead. Similarly, CONE might initially suggest an ice cream treat or a traffic cone to many solvers, rather than its actual role as a specific spray pattern setting found on garden hose nozzles.

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For players hoping to preserve a winning streak or avoid accidentally spoiling the puzzle for themselves, Connections resets at midnight local time each day, consistent with the New York Times’ broader approach to its daily puzzle offerings, meaning today’s puzzle and its answers will remain the same for all players regardless of time zone, while a fresh puzzle becomes available starting at each individual player’s local midnight.

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Eli Lilly: Shaking Off Competition From The Dethroned Novo Nordisk (NYSE:LLY)

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Eli Lilly: Shaking Off Competition From The Dethroned Novo Nordisk (NYSE:LLY)

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JR Research is an opportunistic investor. I was recognized by TipRanks as a Top Analyst, and also by Seeking Alpha as a “Top Analyst To Follow” for Technology, Software, and Internet, as well as for Growth and GARP. I identify attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. My picks have consistently demonstrated market outperformance over time. My approach combines timely and sharp price action analysis with fundamentals as my foundation. I also tend to avoid overhyped and overvalued stocks while capitalizing on battered stocks with significant upside recovery possibilities. I run the investing group Ultimate Growth Investing which specializes in identifying high-potential opportunities across various sectors. My main ideas revolve around stocks with strong growth potential, and also well-beaten contrarian plays. I designed the group for investors seeking to capitalize on growth stocks with solid fundamentals, robust buying momentum, and appealing turnaround plays to generate alpha consistently. Learn more

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Musk’s Tesla, SpaceX Confirm $16.8 Billion ‘Terafab’ Chip Plant as World’s Largest Building in Texas

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Tesla chief and Twitter owner Elon Musk

Tesla and SpaceX confirmed Thursday that they will jointly build a massive semiconductor manufacturing facility called Terafab in Grimes County, Texas, with an initial investment of $16.8 billion for a project the companies say will become the largest and most valuable building on Earth.

The facility will be located roughly 70 miles northwest of Houston, in a rural stretch of Grimes County east of College Station, according to multiple outlets covering the announcement. Elon Musk, who serves as chief executive of both Tesla and SpaceX, described the scale of the planned building in a post on the social platform X. “Terafab Texas will be the largest and most valuable building on Earth by far. And it will be stunningly beautiful,” Musk wrote.

According to figures shared by SpaceX and Tesla, the completed facility is planned to span more than 100 million square feet of manufacturing space, a footprint more than five times larger than the New Century Global Center in Chengdu, China, which currently holds the record as the world’s largest building at approximately 18.9 million square feet, according to Fortune. The Terafab campus is also expected to be more than twice the size of Tesla’s existing 2,500-acre Gigafactory site outside Austin, according to the Austin American-Statesman.

SpaceX described the strategic rationale behind the project in a statement posted to its website. “The facility will be an advanced semiconductor fab that will bridge the divide between current global chip supply and the compute demand of the future,” the statement read. The company further explained that the combined chip demand from Tesla and SpaceX alone is expected to exceed available global supply in the coming years. “While we are deeply appreciative of our current chip suppliers and encourage them to expand production whenever possible, this looming gulf between supply and demand is at the core of Terafab’s necessity,” SpaceX said, according to Fox Business.

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Musk framed the project as central to his broader vision for the future of both companies, one built around large-scale automation, autonomous transportation and space-based computing infrastructure. “We’re now embarking on the most epic chip-building effort—combining logic, memory, and advanced packaging all under one roof,” Musk said in a press release cited by Fortune. According to the same report, Musk described Terafab’s mission as helping to “close the gap” between current chip production capacity and the far larger demand he expects will eventually accompany humanity’s expansion into space.

Musk expanded on that broader vision in comments made when first announcing the project. “In order to understand the universe, you must explore the universe,” Musk said, according to Yahoo Finance. “And that’s the motivation to accelerate humanity’s future in understanding the universe and extending the light of consciousness to the stars.”

According to Yahoo Finance, the Terafab facility is expected to target production of advanced 2-nanometer chips, with a goal of manufacturing up to 50 times the number of AI chips currently produced annually by major global chip suppliers. The plant is designed to produce two distinct categories of semiconductors: chips intended for Tesla’s self-driving vehicles, robotaxis and Optimus humanoid robots, and separate, specialized chips engineered to withstand the extreme conditions of space for use in SpaceX’s satellite and spacecraft systems. According to Fortune, the completed facility is designed to produce more than 1 terawatt of compute annually once fully operational.

The initial phase of construction is expected to create at least 3,000 jobs, with many of those positions expected to go to residents of Grimes and neighboring Brazos counties, according to the Houston Chronicle. Texas Gov. Greg Abbott addressed the scale of the project’s initial economic impact directly, according to Fortune’s reporting. “The first phase of the Terafab project represents a capital investment of more than $16.8 billion and will create 3,000 new jobs,” Abbott said.

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The $16.8 billion figure represents only the first phase of a project SpaceX has suggested could ultimately grow far larger. According to TechCrunch, SpaceX has indicated in regulatory filings that it may spend as much as $119 billion on Terafab across a multi-phase construction plan, though the company did not discuss the project during its most recent earnings call. Semiconductor giant Intel has also agreed to contribute to the Terafab project, though the company has not disclosed the specific scale of its involvement, according to TechCrunch’s reporting.

Local officials in Grimes County have moved to address community concerns regarding the project’s rapid development and the tax incentives associated with it. According to the Austin American-Statesman, Terafab representatives, including a company official identified as Trettel, stressed the project’s goal of strengthening domestic chip manufacturing capacity and boosting the local job market during meetings with area residents. County commissioners were told they could expect to see architectural renderings of the planned facility within the coming days. Terafab representatives also defended the property tax breaks the project has received from Grimes County and area school districts, pointing to a structure under which the company will make fixed annual payments to the county over the next 35 years in place of standard property tax obligations.

Some financial analysts have offered independent cost estimates for the project that diverge somewhat from the companies’ own figures. According to Yahoo Finance, some analysts project the facility could ultimately cost more than $20 billion, placing it among the largest individual semiconductor manufacturing investments in the world, at a moment when major technology companies, including Meta Platforms, are racing to secure reliable chip supply amid an industrywide memory shortage.

Tesla and SpaceX confirmed the joint venture also includes participation from xAI, Musk’s artificial intelligence company, alongside Intel’s previously disclosed involvement, according to the Houston Chronicle. As construction on Terafab’s first phase moves forward in Grimes County, the project is expected to remain closely watched both for its unprecedented physical scale and for what it signals about the scope of Musk’s ambitions to vertically integrate chip production across his network of companies, spanning applications ranging from autonomous vehicles and humanoid robots on Earth to specialized computing hardware intended for use in space.

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Bronny James Breaks Silence on LeBron’s 76ers Move With Simple Five-Word Response

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Stephen Curry

Bronny James has finally addressed his father LeBron James’ decision to sign with the Philadelphia 76ers this offseason, offering a brief, five-word reaction after weeks of speculation about how the younger James felt watching his father leave the Los Angeles Lakers.

The 21-year-old guard was captured on video Friday signing autographs and taking photos with young fans when he was asked directly about his father joining a new team. According to Yahoo Sports, Bronny’s response was simple and unbothered. “It’s whatever. It’s my dad,” he said, delivering the line with a smile, according to a video shared by Purp & Gold Media on the social platform X.

The moment marked the first public comment from Bronny since LeBron officially confirmed his decision to leave the Lakers after eight seasons with the franchise. Speculation had circulated for weeks over whether Bronny might follow his father to a new team, given that the two had made NBA history as the first father-son duo to play together in league history during Bronny’s first two professional seasons. Instead, Bronny remains with the Lakers, the team that selected him with the 55th overall pick in the 2024 NBA Draft, while LeBron begins a new chapter in Philadelphia.

LeBron’s departure ended an eight-year run in Los Angeles that included the franchise’s 2020 NBA championship and cemented his standing as one of the most accomplished players in Lakers history. Across 479 regular-season games with the team, LeBron averaged 25.9 points, 7.9 assists and 7.7 rebounds before ultimately deciding to continue his career elsewhere. He signed a two-year, $8 million contract with the 76ers for what will be his 24th NBA season, a milestone unmatched by any player in league history.

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LeBron addressed the decision directly in a statement posted to social media at the time of the announcement, describing it as the final chapter of his storied career. “This is my last decision. I’m not going for money. I’m not going for family. I still want to sacrifice. I still want to work. I still want to grind. I still want to compete, to win and to have a chance at the feeling of winning another championship,” James wrote. He went on to express enthusiasm specifically about his new team’s prospects. “I believe I can help make the Philadelphia 76ers a championship team and I am so excited to energize a new fan base and start this incredible journey one last time.”

Bronny’s path forward with the Lakers became clearer in the weeks leading up to his father’s decision. In late June, Bronny’s $2.3 million salary for the 2026-27 season became fully guaranteed after the Lakers declined to waive him ahead of a contractual deadline. According to Fox News, LeBron informed the Lakers of his own decision to continue his career elsewhere just one day after that guarantee became official, a sequence of events that effectively separated the father-son duo’s NBA paths going forward.

Rich Paul, who serves as agent for both LeBron and Bronny, addressed the situation publicly around the time of LeBron’s signing, making clear that the two were operating independently of one another in free agency. “They are not a package deal,” Paul told ESPN, adding that there was “no current plan or request for Bronny James to join his father” in Philadelphia.

Bronny’s second NBA season saw him splitting time between the Lakers and the team’s G League affiliate, the South Bay Lakers, a common developmental path for young players still working to establish themselves at the professional level. Across 42 NBA games during that second season, Bronny averaged 2.9 points and 1.2 assists, while also making eight postseason appearances for the Lakers. Heading into his third season, Bronny’s role is expected to remain focused primarily on continued development under Lakers head coach JJ Redick, who has overseen his growth since the start of his professional career.

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Bronny delivered his five-word reaction while traveling with the rest of the Lakers roster to Slovenia for a basketball camp organized by star guard Luka Doncic, according to Yahoo Sports. The trip placed Bronny in a casual, fan-facing setting when the question about his father’s move was posed, contributing to the relaxed, matter-of-fact tone of his response.

LeBron’s move to Philadelphia has generated significant reaction across the NBA, including from members of his new team. According to The Philadelphia Inquirer, forward Jaylen Brown, despite past public tension with LeBron over comments Brown had made questioning Bronny’s readiness for professional basketball, was among the first players to publicly welcome LeBron to the Sixers following the announcement, posting a brief celebratory message on social media. Teammate Tyrese Maxey similarly shared a video of himself celebrating enthusiastically after the news broke.

Despite no longer playing alongside one another, LeBron and Bronny are still scheduled to face off against each other multiple times this coming season as opponents. According to Yahoo Sports, the Lakers and 76ers are set to meet on Christmas Day at 5 p.m. ET in Los Angeles, followed by a second matchup on March 2, 2027, in Philadelphia, giving fans two high-profile opportunities to watch the father and son compete against one another for the first time in their NBA careers.

With LeBron now fully settled into his new chapter with the 76ers and Bronny entering his third professional season still developing within the Lakers organization, Bronny’s brief comment appears to reflect a broader sense of acceptance regarding the situation, treating his father’s decision as a straightforward professional matter rather than a significant personal disruption. As both players prepare for the 2026-27 season with their respective teams, their upcoming head-to-head matchups are likely to draw significant attention as one of the more closely watched storylines of the coming NBA campaign.

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Federal Judge Strikes Down Trump’s Immigrant Visa Ban Targeting 75 Countries as ‘Patently Unlawful’

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Lindsay Clancy Trial Cut Short as Judge Cites 'Unforeseen Circumstance,'

NEW YORK — A federal judge in Manhattan struck down a Trump administration policy Friday that had suspended the issuance of immigrant visas to applicants from 75 countries, ruling that the policy exceeded the statutory authority of Secretary of State Marco Rubio and violated federal immigration law.

U.S. District Judge Jeannette Vargas of the Southern District of New York issued the ruling in a lawsuit brought by immigrant rights groups, along with individual visa applicants and U.S. citizens sponsoring family members from the affected countries. Vargas, an appointee of former President Joe Biden, found that the policy, implemented in January, was “contrary to law” and fell outside Rubio’s legal authority.

In her written decision, Vargas was direct in her characterization of the policy’s legal standing. “The Policy, which categorically prohibits the issuance of immigrant visas based upon the nationality of the applicant, represents a direct abrogation of this statutory scheme,” Vargas wrote, according to Reuters. The judge determined the policy ran afoul of a 1965 federal law barring nationality-based discrimination in the granting of visas, as well as a separate statutory provision that strips the secretary of state of direct authority over how individual consular officers adjudicate visa applications.

According to CNN, Vargas found that, in practice, U.S. consular officers were being directed to reject immigrant visa applications, even from applicants who could demonstrate they were financially self-sufficient, solely based on the applicant’s country of origin. The policy specifically halted permanent-residence visas for individuals seeking to join family members or take up employment in the United States, though it did not extend to nonimmigrant visas such as those issued for tourism or academic study.

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A State Department cable sent by Rubio to every diplomatic and consular post worldwide, which was entered into the court record as part of the case, directed officers to refuse applicants even in cases where an applicant “provides additional evidence that demonstrates he or she overcomes the public charge refusal,” according to CNN’s review of the document. Vargas characterized the practical effect of that directive bluntly in her ruling. “The outcome is predetermined,” she wrote. “The visa will be refused.”

The State Department had defended the policy by arguing that applicants from the 75 designated countries posed a heightened risk of becoming a “public charge,” meaning they might rely on local, state or federal government assistance after arriving in the United States, according to Reuters. The suspended countries spanned a wide geographic range, including Latin American nations such as Brazil, Colombia and Uruguay; Balkan countries including Bosnia and Albania; South Asian nations Pakistan and Bangladesh; and numerous countries across Africa, the Middle East and the Caribbean, according to Reuters’ reporting.

The lawsuit challenging the policy was filed by the Catholic Legal Immigration Network and African Communities Together, immigrant rights organizations that joined with individual visa applicants and U.S. citizens sponsoring family members from the affected countries as plaintiffs in the case, according to Reuters.

According to reporting from SCOTUS Wire, Vargas specifically distinguished her ruling from the Supreme Court’s 2018 decision in Trump v. Hawaii, which had upheld a separate Trump administration travel ban permitting nationality-based restrictions on entry into the United States. Vargas drew that distinction on the grounds that the current policy directly restricted the issuance of visas themselves, rather than restricting entry at the border for individuals who had already obtained valid travel documents, a legal difference the judge found significant in assessing the scope of the executive branch’s authority under existing immigration statutes.

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Al Jazeera’s coverage of the ruling noted that Vargas’ decision centered specifically on the question of statutory authority, finding that Congress had explicitly reserved to consular officers, rather than the secretary of state directly, the authority to adjudicate individual immigrant visa applications, a structural allocation of power the judge found the January policy had improperly overridden.

The State Department did not immediately respond to requests for comment on the ruling, according to Reuters. As of this report, it remained unclear whether the administration intended to appeal Vargas’ decision to the Second Circuit Court of Appeals, a step commonly taken by the federal government following adverse rulings on major immigration policy matters.

Friday’s ruling adds to a broader, ongoing pattern of legal challenges facing the Trump administration’s immigration enforcement priorities during its second term. The administration has pursued what Reuters described as an aggressive approach to restricting various forms of visa issuance and immigration processing since returning to office, a strategy that has repeatedly drawn legal challenges from immigrant rights organizations, state attorneys general and individual plaintiffs affected by specific policies.

The 75-country visa suspension represents one of several immigration-related policies from the current administration to face significant legal setbacks in federal court. Earlier iterations of broad, nationality-based travel restrictions pursued by the Trump administration during its first term similarly drew successful legal challenges in multiple jurisdictions before the Supreme Court ultimately upheld a narrower, revised version of that earlier travel ban in the 2018 Trump v. Hawaii decision, a precedent Vargas’ ruling explicitly distinguished from the current case.

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Immigrant rights advocates involved in the litigation are likely to view Friday’s ruling as a significant victory, given the broad geographic scope of the policy the judge struck down and the explicit finding that the policy’s practical operation left consular officers with no genuine discretion to approve applications regardless of individual applicants’ financial circumstances. For families and individuals affected by the suspension, including U.S. citizens seeking to sponsor relatives for immigrant visas from any of the 75 designated countries, Vargas’ ruling would, if it stands, restore the ability to have those applications processed and adjudicated on an individual basis rather than being categorically denied based on nationality alone.

As the legal fight over the policy continues, with an appeal from the administration considered a likely next step, immigration attorneys and advocacy organizations are expected to closely monitor how quickly the State Department moves to comply with Vargas’ order and resume standard visa processing for applicants from the affected countries, pending any further action either from the administration or from a higher court reviewing the case.

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Opportunity To Catch 2 Income Picks Before Their Yield Goes Higher

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HYMB: Solid High-Yield Muni Bond ETF, Above-Average Tax-Advantaged Income (NYSEARCA:HYMB)

This article was written by

Rida Morwa is a former investment and commercial Banker, with over 35 years of experience. He has been advising individual and institutional clients on high-yield investment strategies since 1991. Rida Morwa leads the Investing Group High Dividend Opportunities where he teams up with some of Seeking Alpha’s top income investing analysts. The service focuses on sustainable income through a variety of high yield investments with a targeted safe +9% yield. Features include: model portfolio with buy/sell alerts, preferred and baby bond portfolios for more conservative investors, vibrant and active chat with access to the service’s leaders, dividend and portfolio trackers, and regular market updates. The service philosophy focuses on community, education, and the belief that nobody should invest alone. Learn More.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of HQH, RVT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Beyond Saving, Philip Mause, and Hidden Opportunities, all are supporting contributors for High Dividend Opportunities. Any recommendation posted in this article is not indefinite. We closely monitor all of our positions. We issue Buy and Sell alerts on our recommendations, which are exclusive to our members.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Mystery Bread Dumping Near Japanese National Park Sparks Fears of Attracting Wild Asiatic Black Bears

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China Unveils 288-Meter Glass Cliff Elevator That Cuts Kids' Perilous

Authorities in Japan’s Tottori Prefecture are investigating a series of mysterious incidents in which someone repeatedly dumped large quantities of bread along a roadside inside Daisen-Oki National Park, with local officials warning the act could be an attempt to lure wild bears, which have been spotted with increasing frequency in the area this year.

According to a report by Nippon TV cited by the JoongAng Ilbo, the first batch of dumped bread was discovered on Aug. 14 along a road running through the midsection of Mount Daisen within the national park. A representative from the Tottori branch of Japan’s Nature Conservation Society, who first came across the discovery, found approximately 30 loaves of bread laid out at regular intervals along the roadside. Most of the loaves were individually wrapped, standard-sized units, and the total collected that day alone weighed 16.7 kilograms.

The foundation official described the initial confusion upon encountering the scene. “At first, I thought squared logs had fallen onto the road,” the official said, according to the JoongAng Ilbo. “I was truly shocked that bread kept appearing all along the road. I’ve never experienced anything like this before.”

The dumping did not stop after the initial discovery. According to the report, foundation staff collected an additional 6.3 kilograms of bread on Aug. 15 and 5.5 kilograms on Aug. 16, bringing the three-day total to 28.5 kilograms. After the matter was reported to police, another 10.5 kilograms of freshly dumped bread was discovered on Aug. 20. In total, roughly 39 kilograms of bread have been collected from the site since the incidents began.

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Adding to the mystery, what appeared to be discarded chicken entrails were found along the same roadside area on Aug. 19, though authorities have not confirmed whether that discovery is connected to the bread dumping incidents.

Local officials have raised the possibility that the food was deliberately placed to attract wild animals, a suspicion rooted partly in the pattern of how the bread was distributed. Rather than being dumped in a single large pile, the loaves were spread out at consistent intervals along the road, a pattern the Nature Conservation Society said it could not fully explain but has treated as a potential indication that someone intended to draw animals toward the area.

The concern carries particular weight given a rise in sightings of Asiatic black bears, commonly known as moon bears, around the Mount Daisen area this year. Wildlife officials have warned that when wild animals become accustomed to food left out by humans, they are more likely to venture toward roads and residential areas in search of similar food sources, raising the risk of vehicle collisions or direct encounters between bears and people.

A representative from the Nature Conservation Society issued a direct appeal to the public following the discovery. “If food meant for human consumption is left out, it can lead to unfortunate encounters between people and animals,” the official said. “Please do not dispose of or leave out this kind of food under any circumstances.”

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In response to the repeated incidents, Tottori Prefecture increased patrols of the area to twice daily beginning Aug. 20. According to the report, authorities are considering further measures, including daily patrols or the installation of surveillance cameras, should the dumping continue. More than a week after the first bread was discovered, authorities have not identified who is responsible or determined a clear motive behind the incidents.

The dumped bread and chicken entrails found along the roadside may constitute waste under Japan’s Waste Management and Public Cleansing Act, according to the report. If the dumping is formally classified as illegal disposal under that law, those responsible could face up to five years in prison or a fine of up to 10 million yen, or roughly $67,700. Because the incidents occurred within a national park, authorities have also indicated that violations of Japan’s Natural Parks Act could come into play if investigators confirm the intent was specifically to feed wildlife.

The incidents have drawn attention on social media within Japan, with some commenters speculating about possible motives behind the unusual dumping pattern, ranging from theories involving wildlife feeding to more critical commentary questioning why someone would discard so much food along a protected natural area.

Japan has experienced a broader increase in bear-related incidents and public safety concerns in recent years, as expanding bear populations and shrinking rural human populations in some regions have led to more frequent encounters between bears and residents across the country. Wildlife and conservation officials in Japan have periodically issued public warnings cautioning against feeding wild bears or leaving food accessible to them, given the significant safety risks that can arise once bears begin associating human areas with reliable food sources, a pattern that has, in past cases elsewhere in the country, ultimately required authorities to capture or cull bears that had become habituated to human-populated areas.

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As the investigation into the Mount Daisen bread dumping continues, Tottori Prefecture officials say they remain focused on both determining the identity and motive of whoever is responsible and on preventing any further incidents that could increase the risk of dangerous encounters between bears and the public along the affected roadway. Authorities have not indicated a timeline for when the investigation might be resolved, and the increased twice-daily patrol schedule is expected to remain in place as officials continue monitoring the area for any additional dumping activity.

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(VIDEO) 300-Pound Bear Dies Trapped Inside Car in Colorado Amid Record-Breaking Statewide Bear Activity

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COLORADO SPRINGS, Colo. — A 300-pound black bear died after breaking into an unlocked car in central Colorado Springs and becoming trapped inside, according to Colorado Parks and Wildlife, an incident that comes amid what the agency is describing as a record-breaking year for bear activity across the state.

The bear entered the unlocked vehicle, destroyed much of its interior while attempting to get out, and ultimately became stuck, according to Colorado Parks and Wildlife. The animal died inside the car and went undiscovered for several days in the summer heat before being found. Wildlife officials estimated the bear weighed roughly 300 pounds and believe it was likely drawn into the vehicle by a scent or food attractant left inside.

The incident is one of a growing number of bear-related conflicts reported across Colorado this year, as extreme drought conditions have significantly reduced the natural food sources bears typically rely on, pushing them farther into neighborhoods, campgrounds and other areas populated by people. According to figures from Colorado Parks and Wildlife, the agency received 6,129 reports of bear sightings and conflicts statewide between Jan. 1 and Aug. 13, nearly double the 3,115 reports recorded during the same period in 2025. A separate, more recent tally from the agency put the statewide total at more than 7,000 reports as of Aug. 20, compared with roughly 5,400 reports recorded by that same point in 2025.

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Rachael Gonzales, public information officer for Colorado Parks and Wildlife, described the scale of this year’s bear activity in stark terms. “This year, it’s not even that we are on track for a record year; it is a record year for the number of human bear reports that CPW as an agency has seen,” Gonzales said.

The surge in reported conflicts has been especially pronounced in parts of northwest Colorado. In Routt County, reported bear sightings have climbed 219% compared with 2025, according to new data from Colorado Parks and Wildlife. Gonzales connected that spike directly to the region’s ongoing drought conditions. “Bears right now are in search of food, and they are opportunistic,” Gonzales said.

Statewide, Colorado Parks and Wildlife reported a 68% increase in bear reports over the prior year for the first seven months of 2026. Brad Banulis, the agency’s senior terrestrial biologist, addressed the trend during a July 28 sportspersons’ meeting in Grand Junction. “Bears are tough this year,” Banulis said, noting that while conflicts had increased gradually through early summer, the situation intensified more sharply in recent weeks. “Now we’re definitely seeing conflicts go up a lot across the region, really across the Western Slope at least, maybe even statewide, with this drought,” he said.

Kris Middledorf, the agency’s area wildlife manager, described the situation in Routt County specifically as an “unprecedented surge in human-bear interactions.”

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Beyond property damage and vehicle break-ins, this year’s drought-driven bear activity has also coincided with a rare cluster of bear attacks. According to Colorado Parks and Wildlife, the agency’s northwest region, which covers counties west of Jackson, Grand and Summit counties and north of Mesa, Pitkin and Eagle counties, recorded four bear attacks between Jan. 1 and Aug. 20, the highest number of reported attacks in that region over the past decade. Statewide, five bear attacks have been reported so far in 2026, a total that, while elevated, still falls short of the seven attacks recorded in 2020, six each in 2019 and 2023, and five in 2017.

Gonzales emphasized that bear attacks remain a genuinely rare occurrence in Colorado despite this year’s unusual activity levels. “Bear attacks in Colorado are very rare,” Gonzales said. “Between 1960 and today, Colorado has only had 105 bear attacks.” Over that same 66-year period, four of those attacks have proven fatal, with the most recent fatal attack occurring in 2021 near Durango.

The underlying driver behind this year’s spike in bear activity is Colorado’s ongoing extreme drought, which has significantly reduced the availability of natural food sources bears depend on, particularly berries, during the late summer months. With berry supplies limited this year, bears have increasingly searched closer to towns and communities for alternative food sources. Wildlife officials have expressed particular concern about how conflict levels might continue evolving into the fall, as bears enter a biological state known as hyperphagia, during which their caloric needs spike dramatically, reaching as much as 20,000 calories per day, as they work to build fat reserves ahead of winter hibernation.

Colorado is home to an estimated 17,000 to 20,000 black bears, the vast majority of which live on the state’s Western Slope, according to wildlife officials. In recent years, a combination of population growth, increased tourism and fluctuating food availability has steadily driven up bear conflicts, particularly in mountain communities where human development increasingly overlaps with bear habitat.

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Colorado Parks and Wildlife has repeatedly emphasized that incidents like the Colorado Springs vehicle death are largely preventable. Wildlife managers say residents and visitors can significantly reduce the risk of bear encounters by keeping vehicles locked, ensuring windows are fully closed, and removing all trash, food and scented items from cars and outdoor spaces. Officials have specifically warned that once a bear successfully obtains food from a vehicle, it is highly likely to return to the same area seeking similar opportunities, a pattern that increases risk for both people and the bears themselves over time.

As Colorado’s drought conditions show no clear signs of easing heading into the fall, wildlife officials continue urging residents across the state to remain vigilant about securing food, trash and other potential attractants, both to protect public safety and to reduce the likelihood of additional bears becoming trapped, injured or killed while searching for food in populated areas during what has already proven to be one of the most active bear seasons in the state’s recorded history.

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(PHOTO) China Unveils 288-Meter Glass Cliff Elevator That Cuts Kids’ Perilous 3-Hour School Trek to 30 Minutes

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China Unveils 288-Meter Glass Cliff Elevator That Cuts Kids' Perilous

XUANWEI, China — A new 288-meter glass elevator clinging to the sheer walls of a remote canyon in southwestern China has transformed a dangerous multi-hour mountain climb into a swift, safe journey for local schoolchildren, while simultaneously boosting tourism in one of Yunnan province’s most isolated communities.

The Fuyao elevator, which began operating on July 31, rises along the vertical cliff face of the Nizhu River Grand Canyon in Xuanwei city’s Puli Township. It stands beside the 268-meter Qingyun elevator that opened in 2022. Together the two lifts, combined with a cable car and shuttle buses, have reduced the one-way trip from Nizhuhe village at the canyon floor to Guanzhai Village Primary School on the rim from more than three hours to about 30 minutes.

For generations, children living in the deep valley faced a perilous commute. Nizhuhe village sits at roughly 1,100 meters above sea level. The primary school is perched near 1,650 meters, leaving a vertical drop exceeding 500 meters. Students and parents once negotiated steep, exposed trails, ladders and slippery rock faces. Round trips could approach six hours, and many children boarded at the school, returning home only every 10 days or so.

“The Fuyao is faster and much more spacious than the Qingyun,” said Lei Xin, a 12-year-old from Nizhuhe village who attended Guanzhai Primary School until the previous year, after taking one of the first rides on the new lift.

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The Fuyao climbs at about 5 meters per second, completing the ascent in roughly 50 seconds. Its fully transparent 360-degree glass curtain wall offers panoramic views of the canyon and its winding streams. The cabin can carry up to 81 passengers, nearly three times the capacity of the older elevator. Combined, the two lifts move as many as 1,200 people per hour.

Cai Xiong, chairman of Xuanwei Yatuo Tourism Development, the company behind the project, said the new structure’s shaft is 20 meters taller than its predecessor. “The Fuyao goes from the bottom to the top in just 50 seconds, which is nearly twice as fast as the Qingyun, and it can carry up to 81 passengers at a time, nearly double the capacity,” Cai said, adding that the canyon views are unbeatable.

Local residents and students ride free of charge, with a dedicated school commute lane and staff support to keep children separate from tourist crowds. The system functions as what local media have called a “sky school bus.”

The project is part of a broader tourism development that has already drawn more than 1 million visitors since the first elevator opened. Daily visitor capacity in the scenic area has risen from about 4,000 to 15,000 with the second lift in operation. Cai projected that if trends continue, the site could see more than 600,000 tourists next year, with elevator revenue exceeding 3 million yuan.

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China already holds the Guinness World Record for the tallest outdoor elevator: the Bailong Elevator in Zhangjiajie National Forest Park, which rises 326 meters. The Yunnan installations are shorter but serve a dual purpose of daily local transport and sightseeing. The Fuyao and Qingyun are outdoor glass elevators fixed to the cliff face, engineered for the humid, foggy canyon environment with multiple power backups and monitoring systems.

Construction of the second elevator began in late 2024. The main structure was completed in 2025, and final work enabled the late-July opening. Ningbo Hongda Elevator, based in Zhejiang province, built both lifts. Engineers had to contend with long travel distances, mountain moisture and structural movement on the steel framework.

Before the elevators, local authorities had tried to improve the trail by cutting footholds and installing chains, yet the route remained hazardous, especially in rain. The combination of sightseeing shuttles, the cliff elevators and the cable car has eliminated the need for that climb for most daily travel.

Around 20 children from Nizhuhe and nearby villages use the route regularly. Guanzhai Primary School serves as a boarding school for students from the surrounding mountain communities. Parents rotate accompaniment duties, and dedicated staff and police help oversee the children’s passages.

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The elevators have also changed how residents view their landscape. One 10-year-old student told state media that riding the lift made her realize how beautiful her hometown was. Cai, who grew up in the mountains, recalled walking the dangerous path many times and said safety was a primary motivation for the project.

Tourism growth has brought additional benefits. Job opportunities and higher incomes have followed the influx of visitors drawn by the dramatic canyon scenery, glass bridges, observation decks and the elevators themselves. The dual-lift system has eased congestion that previously built up around the single Qingyun elevator.

Officials emphasize that the infrastructure prioritizes local access. Villagers and students retain free priority use even as tourist numbers climb. The scenic area includes other attractions such as a high glass footbridge and viewing platforms, positioning the canyon as a destination that pairs natural drama with engineering spectacle.

The Fuyao’s 288-meter height and transparent design allow passengers to experience the full vertical drama of the canyon in under a minute. At 5 meters per second, the ride is faster than the original Qingyun, which traveled at about 3 meters per second. The increased capacity and speed address both the practical needs of school transport and the demands of growing visitor traffic.

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In a region long isolated by its steep topography, the elevators represent a practical solution that also generates economic returns. The shift from a life-threatening trek to a short, scenic ride has altered daily routines for families in Nizhuhe. Children who once spent hours climbing can now reach class more reliably and return home more frequently.

As the second elevator settles into regular service, local leaders expect the combined system to sustain both educational access and tourism growth. The “sky school bus” continues to carry students upward each school day while offering visitors a brief, dramatic ascent along one of Yunnan’s most striking canyon walls.

The project illustrates how targeted infrastructure can address long-standing isolation in China’s mountainous interior. For the children of Nizhuhe, the glass elevators have turned a once-dreaded journey into a routine half-hour trip that ends with a view of the canyon they once had to climb.

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