[Fox News] Is the East Coast on the brink of a major earthquake — and are we prepared?

The earthquake that struck the East Coast earlier this month was felt by an estimated 42 million people and luckily caused little damage, but what are the chances of a bigger, more powerful quake striking the area? And if it does, what could it look like — and are we prepared?

The April 5 phenomenon was a 4.8 magnitude earthquake centered near Whitehouse Station in New Jersey, which is about 40 miles west of New York City.

Shaking was felt from Washington D.C. to Maine, according to the U.S. Geological Survey (USGS), and it followed a much smaller, 1.7 magnitude earthquake in New York City on Jan. 2

Earthquakes are rare along the East Coast, with the most powerful one in the last 100 years hitting in August 2011, clocking 5.8 on the Richter scale. It was centered in Virginia and felt from Washington, D.C. to Boston.

4.8 MAGNITUDE EARTHQUAKE STRIKES NEW JERSEY, SHAKING BUILDINGS IN SURROUNDING STATES

Before that, an earthquake in South Carolina in 1886 is understood to have measured between 6.6 and 7.3 on the Richter scale. There is no definitive measurement of that quake since the Richter scale has only been around since the mid-1930s, but the tectonic shift still killed 60 people.

Professor John Ebel, a seismologist in the Department of Earth and Environmental Sciences at Boston College, tells Fox News Digital that when quakes start breaking 5.0 on the Richter scale, damage begins to occur. 

For instance, the devastating earthquake that hit Turkey and Syria last year measured 7.8 and resulted in the death of nearly 62,000 people as tens of thousands of buildings were either destroyed or severely damaged.

California’s Loma Prieta earthquake in 1989, meanwhile, measured 6.9 and caused 69 deaths, and the 1994 Northridge earthquake in the Golden State clocked 6.7, killing 57 people. Thousands more were injured. 

“As you go above magnitude five, the shaking becomes stronger and the area over which the strong shaking is experienced becomes wider,” Ebel says. “So if you get a magnitude six, the shaking is ten times stronger than a magnitude five. So had this month’s earthquake been a 5.8, rather than a 4.8, then we would be looking at damage to unreinforced structures in the greater New York City area.”

“Now I have to qualify this and say that in the past few decades, New York City has had an earthquake provision in its building code while New Jersey, New York and Connecticut have all adopted some version of earthquake provisions in their building codes,” Ebel explained. “So modern buildings that are put up today will actually do quite well, even in strong earthquake shaking… If you have a magnitude 6 or even a magnitude seven.”

In terms of the Tri-state area, Ebel says that the region has had smaller earthquakes, but it’s been spared anything that’s been significantly damaging.

An 1884 quake in Brooklyn did cause limited damage and injuries. Seismologists estimated it would have measured in the region of 5.0 and 5.2, while a quake jolted Massachusetts in 1775 in the region of 6.0 and 6.3.

WHAT TO DO DURING AN EARTHQUAKE AND HOW TO PREPARE

“In 1884 there were things knocked from shelves, some cracks in walls that were reported, particularly plaster walls, which crack very easily if a building is shaken,” Ebel said. “There were some brick walls that had some cracks and people panicked because of the very strong shaking.”

A magnitude five earthquake hits the tri-state area once every 120 years, says Ebel, who penned the book “New England Earthquakes: The Surprising History of Seismic Activity in the Northeast.”

“The question is, can we have something bigger? And in my opinion, yes we can,” he said. “We can’t predict earthquakes, and we don’t know when the next one is going to occur, but we do have a low, not insignificant probability of a damaging earthquake at some point.”

Ebel said that the April 5 earthquake has left seismologists baffled since it didn’t occur on the Ramapo Fault zone, highlighting just how hard it is to predict the phenomenon from occurring. The Ramapo Fault zone is a series of small fault lines that runs through New York, New Jersey and Pennsylvania. Spanning more than 185 miles, it was formed about 200 million years ago.

“Right now it’s a seismological mystery,” Ebel said. “We have some earthquakes in our region where we don’t have faults mapped. But that’s even true in California. Not every earthquake occurs on a known or mapped fault in California, so there are still a lot of seismologists have to learn about the exact relationship between old faults and modern earthquakes.”

Ebel noted that buildings aren’t the only thing to consider when earthquakes strike. In the California quakes, overpasses crumbled while the electrical grid can go down too, causing electrical surges and fires.  

Toxic chemicals were knocked off of the shelves of a chemistry building in 1989 and the building had to be evacuated, Ebel said. 

“And you think about hospitals and some industrial facilities having that situation,” he explained. “So you have these things that are not catastrophic necessarily, but are going to be a real problem.”

And an earthquake doesn’t necessarily have to rattle land in order to cause destruction.

A jolt out at sea could trigger a dangerous tsunami, like the one on the edge of the Grand Banks of Newfoundland in Canada in 1929. It was felt as far away as New York City.

Waves as high as 23 feet crashed on the shore, according to the International Tsunami Information Center, with up to 28 people losing their lives. 

“A tsunami is not necessarily a very high probability event, but it’s one that we have to think about also,” Ebel says in relation to the East Coast.

The Fukushima nuclear accident in 2011 was triggered by an earthquake and subsequent tsunami.

Ebel says a tsunami similar to 1929 could cause a storm surge along the lines of Hurricane Sandy in 2012, where 43 people died in New York City. 

“The threat of an earthquake is not as great as in California, but it’s something that we have to take into account and have emergency plans for and have building codes for,” Ebel says. “Our state and local emergency management agencies in all the northeastern states do earthquake planning — what we call tabletop exercises — where they pretend an earthquake occurs.”

“So those kinds of preparations are made on a regular basis,” he concludes. “Building codes are constantly being reevaluated and approved, not just for earthquakes, but for fires and chemical spills and all kinds of things. So we’re getting more prepared all the time.”

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[Fox News] Wearable exoskeleton can turn you into superhuman athlete

Imagine stepping into the wilderness, not just as an adventurer but as a superhuman explorer. That’s exactly what the X1 all-terrain exoskeleton offers.

Crafted by Chinese startup Dnsys, this groundbreaking gear is set to transform our connection with the great outdoors. So, are you ready to experience nature like never before?

This motorized artificial intelligence-powered all-terrain exoskeleton straps to your waist and thighs, enhancing your natural abilities with an impressive 900 watts of power. The X1 increases your hiking, climbing and running abilities and allows you to shoulder up to 83 pounds of gear. 

It achieves speeds over 16 mph and folds to a compact size for easy travel.

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Dnsys’ X1 stands out with its ultralight build, weighing just 3.5 pounds – lighter than any past model by its competitors. It boasts a power output that exceeds its predecessors by 100 watts, translating to an additional 18 pounds of load support. The X1 is engineered to adjust dynamically to the user’s movements, thanks to its onboard motion sensors and AI algorithms, which optimize performance in real time.

Imagine embarking on a rugged hike, your back free from the burden typically associated with heavy packs, replaced by the sensation of wearing a light shirt. The X1 propels you forward with less effort and reduces energy expenditure by up to 50%, enabling longer and more enjoyable adventures.

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With a push-button boost mode, the X1 can propel users to a brisk 16.7 mph, a speed that challenges even seasoned athletes. It’s equipped for more than just speed; the exoskeleton also provides resistance on descents, aiding in knee protection and foot control. The device may also enable individuals with mobility challenges to explore outdoor environments and navigate more independently.

Its battery life supports extensive journeys, and with hot-swappable batteries and fast charging capabilities, the X1 is ready for any long-distance challenge.

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Constructed from aerospace-grade aluminum and carbon fiber, the X1 maintains a feather-light presence without compromising strength. It features a chain clasp belt and thigh straps with Boa dials, ensuring a secure and custom fit that prioritizes user comfort and safety.

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The Dnsys app empowers you to manage the X1 effortlessly, observe device conditions instantly and record precise health metrics like hip joint movement and walking pace. It enables tailoring your exercise regimen, assessing past achievements and assuring optimal performance for each new challenge.

Despite the excitement surrounding these technological innovations, their practicality in the rugged outdoors will be the actual test. As more exoskeleton models hit the market, the potential for widespread adoption increases, inviting us to reconsider the boundaries of human and technological collaboration in nature exploration.

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As Dnsys launches its Kickstarter campaign, the world is watching closely. With models ranging from the affordable $399 Lite to the $998 Carbon Plus, there’s a configuration for every type of adventurer.

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While crowdfunding projects like this come with inherent risks, the X1 represents a tantalizing glimpse into the future of outdoor exploration. As we stand on the brink of possibly becoming temporary cyborgs on our next outdoor adventure, it’s clear that the intersection of technology and nature is just beginning to unveil its thrilling possibilities. Will these exoskeletons become indispensable tools for adventurers or remain intriguing novelties? Only time will tell.

How do you feel about using an exoskeleton device for your outdoor activities? Would you try the X1 exoskeleton? Why or why not? Let us know by writing us at Cyberguy.com/Contact.

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[Fox Business] What do higher-for-longer interest rates mean for your money?

The Federal Reserve signaled at the conclusion of its two-day meeting on Wednesday that interest rates will remain elevated for some time, bringing to an end the era of ultra-cheap money.

Americans will be forced to adapt to a new normal where savers benefit from higher rates, but borrowers face steeper debt payments on everything from credit cards to mortgages to student loans.

“The timing of when the Federal Reserve begins to cut interest rates is up in the air – and in an indefinite holding pattern,” said Greg McBride, chief financial analyst at Bankrate.

Policymakers voted during their policy-setting meeting to leave interest rates unchanged at a range of 5.25% to 5.5%, the highest level since 2001. But officials also indicated they are unlikely to cut rates anytime soon amid signs of sticky inflation, meaning that borrowing money will remain far more expensive than it was just four years ago.

FED HOLDS INTEREST RATES STEADY AS INFLATION CASTS DOUBT ON FUTURE CUTS

For Americans who carry a balance from one month to the next, the new era of persistently high interest rates could be costing them hundreds – even thousands – of dollars.

While the federal funds rate is not what consumers pay directly, it affects borrowing costs for home equity lines of credit, auto loans and credit cards. Higher rates have helped push the average rate on 30-year mortgages above 7% for the first time in years. Borrowing costs for everything from home equity lines of credit, auto loans and credit cards have also spiked.

In fact, housing affordability is as bad today as it was during the peak of the 2008 housing bubble thanks to the astronomical rise in mortgage rates. 

The Atlanta Fed’s Housing Affordability Monitor, which compares median home prices and other housing costs with median household income, indicates the median U.S. household would have to spend about 39.8% of their income to afford the median-priced house as of February, according to the index. While that marks an improvement from the end of 2023, it is still far lower than the typical pre-pandemic level.

Americans with credit card debt are also feeling the pinch from higher rates. 

Average interest rates on credit cards have already surged from 16% in February 2022, before the Fed began hiking rates, to 20.66% as of Wednesday, according to a Bankrate database.

Even just a minor change in credit card rates can affect how much Americans owe.

STAGFLATION FEARS COME BACK WITH A VENGEANCE

For instance, if you owe $5,000 – which the average American does – current APR levels would mean it would take about 277 months and $7,723 in interest to pay off the debt making the minimum payments. By comparison, that same amount of debt would have taken 269 months and $6,126 to pay off when interest rates were lower.

Those rates are unlikely to fall substantially anytime soon, thanks to the Fed’s higher-for-longer policy stance. 

“The mantra of ‘higher for longer’ interest rates is music to the ears of savers who will continue to enjoy inflation-beating returns on safe-haven savings accounts, money markets, and CDs for the foreseeable future,” McBride said. “For borrowers, however, it dashes the hopes that interest rates will come down in a meaningful way any time soon.”

But there is also a silver lining to higher rates for many consumers.

Most banks and credit unions will raise their savings rates during periods of higher interest rates, making it a good chance for some Americans, particularly retirees living off of their savings, to earn more.

The national average banking savings rate hit 0.58% as of May 1, according to Bankrate, although rates are as measly as 0.01% at some of the biggest banks in the U.S.

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There’s another far more lucrative option: High-yield savings accounts, many of which are now paying between 4.2% and 5.27%, providing an option for consumers who are seeking a lower-risk return. Savers can open an online high-yield savings account, but they should make sure the bank is insured by the Federal Deposit Insurance Corporation.

There are now more than two dozen nationally available savings and money market deposit accounts from FDIC-insured banks paying a rate of 3.75% or higher, according to Bankrate.

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[Fox Business] Kevin Hart, Ferrari, others enlisted by Airbnb in marketing tactic to boost demand

Airbnb is launching a new category of experiences hosted by major names in the entertainment and sports industry as part of a new marketing stunt aimed at attracting both a younger audience and international tourists. 

Starting May 1, Airbnb’s website will include category called Icons, where guests can apply to stay in 11 unique homes, many of which are paired with experiences, ranging from sleeping in an exact replica of Disney-Pixar’s “UP house,” spending the night in the Ferrari Museum, staying in a 2D animated re-creation of Marvel Animation’s X-Mansion or Prince’s “Purple Rain” house. 

“It’s an opportunity for us to really expose a lot more people, particularly younger people like Gen X, international travelers to the Airbnb brand,” Tara Bunch, Airbnb Global Head of Operations, told FOX Business. 

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Bunch added that the company sees “a lot of opportunity to grow international[ly].” 

After the first 11 experiences, the Icons category will have a range of experiences dropping on a regular basis. Most of the experiences released Wednesday are free. Those that aren’t will cost under $100 per person, and there are no hidden cleaning or service fees tacked on, according to Bunch.  

It’s not meant to be profitable. 

“Think of it as like a marketing investment,” Bunch said. “It really is around awareness, reaching new audiences, brand building. So we treat it as more of a marketing investment.” 

Some offerings in the category include a stay combined with a specific experience, while others may not necessarily involve overnight accommodation.

ECONOMY BOOSTS DEMAND FOR AIRBNB’S APARTMENT RENTAL PROGRAM

For instance, you can apply to stay at the home featured in the Prince’s film Purple Rain in Minneapolis, Minnesota, which was never open to the public until now, Airbnb said. Guests will be able to listen to special tracks from Prince’s world in an exclusive studio session.

At the Ferrari Museum in Maranello, Italy, guests will be able to take a lap with Scuderia Ferrari ambassador driver Marc Gené. They will also be able to watch Emilia-Romagna’s premier race as a VIP. 

With the Kevin Hart experience, guests will be able to join the comedian inside his members-only Coramino Live Lounge for an evening. Guests will have a tequila tasting and watch live stand-up. 

At Marvel Animation’s X-Mansion in Westchester, New York, guests will be able to train like some of the X-Men “in the Danger Room.”

The launch of this category comes after CEO Brian Chesky acknowledged last year that the company needed to address internal issues or in other words get its “house in order.” Airbnb had been working to resolve a user concerns, including excessive cleaning fees and lengthy checkout instructions, in response to negative feedback.

“I told our team, we all agreed, we don’t have permission to launch new things if people are complaining on social media, so we got to get our house in order,” Chesky said during an Airbnb event in New York City in May 2023. 

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Over the past, Airbnb has been perfecting its core service. This includes launching private room stays, billed as a more affordable option than renting an entire home and could presumably attract younger more financially conscious travelers. 

Wednesday, though, marks the first launch in which the company is expanding beyond its core offerings. 

A countdown will display the time until each Icon goes live, Airbnb said. 

According to Bunch, guests will have to apply for such experiences. As part of the application, guests will have to answer questions about why the experience would be a great fit for them, Bunch explained.  

In a nod to WIlly Wonka, the guests who are selected will receive a digital golden ticket. 

More than 4,000 tickets will be available in 2024, according to Airbnb.

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[Fox Business] Delays and government errors: How college financial aid became such a hot mess

New and returning college students’ timelines for applying for federal financial aid and receiving their award offers have been thrown off this year after the botched rollout of a new application form – with the leadership of the office in charge set to change this summer.

College students and their families have been in limbo after issues with the implementation of a new FAFSA application form have caused delays in financial aid offers that have left many uncertain of what they’ll receive when the new academic year starts in a few months.

In years past, FAFSA applications for the following year would open to students and families in October. Institutions would process applications in January to give students time before enrollment deadlines in May to evaluate their situation. However, delays from a botched update prevented applications from opening until January, when they were temporarily shut down, while a subsequent setback delayed the process further.

Richard Cordray, the chief operating officer for the Office of Federal Student Aid (FSA), will step down at the end of June, according to a report on Friday by the USA Today. The announcement comes as the Department of Education believes it has addressed issues with FAFSA applications, though it remains unclear how the delays will impact incoming college students still waiting for financial aid offers – which have historically had a May 1 deadline for acceptance, though some colleges have pushed that deadline back to May 15 or June 1.

TOP EDUCATION DEPARTMENT OFFICIAL STEPPING DOWN AS COLLEGE FINANCIAL AID FIASCO CONTINUES

“Any students who have been waiting to fill out a FAFSA need to know that now is the time to fill it out,” Undersecretary of Education James Kvaal told media members on Tuesday. “We know how important this is, and we will continue to do whatever we can to get students all of the financial aid for which they are eligible, and to help colleges make financial aid offers as quickly as possible.”

“Students who complete a FAFSA today can expect their records to be sent to colleges within one to three days,” Kvaal added. “It’s been a challenging year for the FAFSA, but I’m proud of the progress we’ve made in recent weeks.”

The Free Application for Federal Student Aid (FAFSA) is a document that must be completed by incoming and current students as well as their families if they want to receive federal financial aid at institutions of higher education in the next academic year.

The FAFSA uses information about the finances of a student and their family to determine how much federal financial aid they’re eligible to receive – including subsidized or unsubsidized student loans.

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A bipartisan spending bill enacted by Congress in December 2020 included provisions that required the Department of Education to reform and streamline the process for submitting the FAFSA prior to the 2024-2025 award year.

The biggest change in the revamped FAFSA was the replacement of the Expected Family Contribution (EFC) formula with the Student Aid Index (SAI). The Department of Education said the SAI removes the number of family members in college from the calculation and implements separate eligibility criteria for Federal Pell Grants.

Delays from the Department of Education’s overhaul process prevented FAFSA applications from opening until January, at which time it was temporarily shut down. 

When it reopened, it included incorrect inflation tables that had to be changed because the outdated data was understating the amount of financial aid students were eligible – which in turn delayed applications from being sent to colleges. Later, another mistake occurred when a federal contractor miscalculated a separate formula on over 200,000 applications.

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The agency said Tuesday it has since reprocessed nearly all the applications that were previously reviewed with known issues.

The requirement that FAFSA applications include their parents’ Social Security numbers initially prevented hundreds of thousands of students who are U.S. citizens or permanent residents, but who have parents who are not, from submitting their applications.

The Department of Education said Tuesday that parents impacted by that bug in the system will be able to enter their tax information manually and will have a temporary workaround in place for the identity-verification process. The agency said it will notify applicants about the procedural change.

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Colleges, states and the federal government have different deadlines for submitting the FAFSA – so students and their families should ensure they complete the form prior to the earliest relevant deadline for their circumstances.

For example, the federal deadline for the 2023-24 FAFSA form is available to be filled out through June 30, 2024, but the Department of Education notes that waiting until the end of an academic year is a “bad idea” given other deadlines.

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The Department of Education maintains a list of state FAFSA deadlines for the current and upcoming academic year that can be referenced by applicants. Students and families should check with the financial aid office at institutions they’re considering to determine those colleges’ deadlines.

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