The gates of Suraj Pals Ramkutir Ashram in UPs Mainpuri have been covered with curtains to maintain secrecy amid the presence of media outside. This has fueled speculations that Suraj Pal alias Narayan Sakar Vishv Hari alias Bhole Baba might be present inside the ashram. On July 2, after the tragic Hathras stampede incident that claimed 121 lives, Bhole Baba reached his Mainpur Ashram. Later speculations were rife that he left the place, however, the servicemen claimed he was there only.

With heavy police deployment outside the Ashram, many believe Bhole Baba was present there. The Ashram has two gates, one for the entry and exit of workers while the other, the golden gate, is exclusively used by Bhole Baba. This gate was covered by curtains from the inside to maintain secrecy and keep Baba away from the eyes of the media.

ALSO READ:UGC-NET Row: CBI Likely To File Chargesheet Against Youth Who Circulated 'Doctored' Screenshot Of Paper

SO Avnish Tyagi said they were not aware of the reasons to cover the Ashram gates, Jagran.com reported. However, police continue to guard the place amid comprehensive vigil in the area.

As many as 121 people were killed in UPs Hathras last week during a religious event dedicated to preacher Bhole Baba. The incident reportedly occurred as supporters of Bhole Baba hurried to collect mud from the path he had traversed.

On July 6, a case was registered against self-proclaimed godman Bhole Baba. He was not named in the first FIR filed in the case. However, his lawyer claimed some unidentified miscreants sprayed poisonous gas during the event, which led to the stampede. He claimed the group of conspirators fled the venue after triggering the chaos.

In a significant move, after the SIT presented its report in the case, the Uttar Pradesh government on Tuesday suspended six officials, including Sikandra Rao Sub Divisional Magistrate (SDM), and Circle Officer (CO).

ALSO READ:Pooja Khedkar, IAS Trainee Transferred Over Misuse Of Power, Made Lavish Demands, Sought THESE Facilities

Sikandra Rao SDM, tahsildar, CO, SHO and two police post chiefs were suspended by the state government for not taking the religious congregation event seriously. The probe divulged that the SDM permitted the event without inspecting the site.

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Hathras Stampede: Gates Of Bhole Babas Mainpuri Ashram Covered To Block Inside View; Heavy Police Deployed Outside - Jagran English

A core part of the Israel Innovation Authority's Israel National Quantum Initiative, the center is the first to tightly integrate multiple types of quantum computers with supercomputers using NVIDIA DGX Quantum

TEL AVIV, Israel, June 25, 2024 /PRNewswire/ -- Quantum Machines (QM), the leading provider of processor-based quantum controllers, announced the opening of the Israeli Quantum Computing Center (IQCC), a world-class research facility that will serve the quantum computing industry and academic community in Israel and around the world. The center was built with the financial backing and support of the Israel Innovation Authority and is located at Tel Aviv University.

The IQCC's grand opening took place yesterday, June 24th, as part of Tel Aviv University's AI and Cyber Week. The ceremony began with the ribbon-cutting, followed by speeches from Asaf Zamir, First Deputy Mayor of Tel Aviv; Dror Bin, CEO of the Israel Innovation Authority; Prof. Yaron Oz and Prof. Itzik Ben Israel from Tel Aviv University; and Dr. Itamar Sivan, CEO of Quantum Machines. Industry experts, including Eyal Waldman, co-founder and former CEO of Mellanox, Ofir Zamir, Senior Director of AI Solution Architecture at NVIDIA, and Niv Efron, Senior Director of Engineering at Google, also shared their insights.

About the IQCC:

In the global race to develop practical quantum computing, access to cutting-edge facilities is crucial. "All of the world's most advanced quantum computing research facilities are closed or offer very limited access to those outside of their organization. You can't compete if you need to fly halfway around the world for limited access," said Dr. Itamar Sivan, CEO and co-founder of Quantum Machines. "When we thought about what would propel quantum computing forward, we realized that building the most advanced facility in terms of interoperability, modularity, and integration with high-performance computing (HPC) and the cloud was the way to go. Our open architecture approach will ensure that the facility can be continuously upgraded and scaled to stay at the cutting edge, making it an accelerator for the entire ecosystem in Israel and internationally."

The IQCC is a state-of-the-art quantum and HPC center that uniquely integrates the power of quantum and classical computing resources. It is the first in the world to house multiple co-located quantum computers of different qubit types, all utilizing the NVIDIA DGX Quantum system. This offers on-premises supercomputing resources and cloud accessibility, while being tightly integrated with Quantum Machines' processor-based OPX control system. The center also features the world's best-equipped testbed for developing new quantum computing technologies.

The unified DGX Quantum system for integrated quantum supercomputing was co-developed by NVIDIA and Quantum Machines. DGX Quantum implements NVIDIA CUDA-Q, an open-source software platform for integrated quantum-classical computing. The system features a supercomputing cluster headlined by NVIDIA Grace Hopper superchips and also including NVIDIA DGX H100, all connected to AWS cloud platforms for remote access and to leverage additional cloud computing resources. The center also utilizes QM's new OPX1000 controller, designed to enable scaling to 1,000+ qubits.

"The tight integration of quantum computers with AI supercomputers is essential to the development of useful quantum computing," said Tim Costa, Director of Quantum and HPC at NVIDIA. "This work with Quantum Machines to enable a flagship deployment of NVIDIA DGX Quantum in the IQCC offers researchers the platform they need to grow quantum computing into the era of large-scale, useful applications"

"Before the IQCC, a developer of a quantum processor chip would need to build their own testing setup, costing millions," said Dr. Yonatan Cohen, CTO and co-founder of Quantum Machines. "Now, researchers can plug their chip into our testbed and benefit from the most advanced setup in the world, leveraging NVIDIA and Quantum Machines hardware to accelerate their development process and reduce costs significantly."

The IQCC is open to researchers and developers of quantum computers from around the world. By providing an open, cutting-edge platform for research and development, Quantum Machines aims to accelerate the progress of practical quantum computing and foster collaborative projects with industry leaders that will drive the field forward. The center is poised to become a destination for companies and researchers worldwide, securing Israel's quantum independence and cementing its position as a leader in the quantum computing revolution.

For more information about the IQCC please visit https://i-qcc.com/.

Additional information on technology and partners:

ContactGavriel Cohen Concrete Media for Quantum Machines[emailprotected]

Photo - https://mma.prnewswire.com/media/2447560/Quantum_Machines.jpg

SOURCE Quantum Machines

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Quantum Machines opens the Israeli Quantum Computing Center - PR Newswire

Could a three-day week be the routine of an average European with advanced quantum computing? We spoke with experts on the continent.

When Emma Mller, a 44-year-old German woman, wakes up each morning, she already has a detailed plan for her health status, dietary suggestions, and exercise recommendations to optimise her day.

She also works only three days a week, thanks to her high productivity levels.

Will we ever live Mllers idyllic life? Is this the promised heaven of a future foretold by advanced quantum computing? When will it happen? Will it be our generation or the ones to come?

For now, it remains pure science fiction, speculation rooted in the promise of advanced quantum technology.

What is real is that IBM's first European Quantum Data Centre is expected to be operational in Ehningen, Germany, by the end of 2024.

"Europe has some of the world's most advanced users of quantum computers," said Jay Gambetta, Vice President of IBM Quantum.

Euronews Tech Talks has interviewed quantum computing experts across the continent to provide a current perspective.

Frank William Marshall, a theoretical physicist at the cultural center of Munich and a leader at the European Quantum Technology Flagship, oversees projects developing quantum computing hardware systems.

He says strong development is happening in superconducting platforms in Delft (Netherlands), Munich and Jlich (Germany), Gothenburg (Sweden), and Helsinki (Finland).

Javier Aizpurua, the Scientific Director of Basque Quantum, notes that IBM will deploy its sixth quantum computer in the world next year in the Basque Country, in northern Spain".

The Basque ecosystem is characterized by strong, fundamental research in materials science, physics, chemistry, and materials engineering.

This foundation was crucial when exploring the potential of deploying a quantum computer to aid in computing and designing these materials, physical processes, and chemical compounds".

Ignacio Cirac, Director at the Max Planck Institute of Quantum Optics, said "there are many expectations surrounding quantum computation in the media and industry.

"However, it's very difficult to turn these expectations into reality," he added. "It's crucial that people have the patience to wait for these developments to materialise".

Original post:

Could 3-day workweeks be possible thanks to advanced quantum computing? - Euronews

The late Alan Watts, a philosopher, scholar, speaker, writer, and seminal figure in the counterculture of the Beat Generation, is getting a new publishing deal more than 50 years after his death.

Independent music publisher Third Side Music (TSM) has signed a new global creative publishing deal withThe Alan Watts Organization to foster creative music opportunities with Watts trove of 500+ hours of audio commentary, lectures, and radio programing for use in new songs by contemporary artists and in films, TV series, advertising, and other media.

More from Deadline

In recent years, Watts recordings, commentaries, and other works have been used in campaigns for major brands such asVolvo,GoPro,Cunard Lines,X-box,Netflix,Uber, andJack Daniels, among others.Although he was not a songwriter, hes credited for lyrics on hundreds of songs, and his works have been incorporated into thousands of lyric videos on YouTube and social media.

His words and compelling vocal delivery have sparked aviral TikTok sensation(#alanwatts has been used over 224 milliontimes) and inspired some of the worlds most influential artists and tastemakers, including Harry Styles, who overlaid WattsquoteThis sensation of being a separate lonely individual is a hallucinationas part of the intro inhis recent tours.

Watts has also been sampled by such artists asNas,Logic(The Incredible True Story, 27 million Spotify streams),INZO(Overthinker, more than 43 million YouTube views), andNuages(Dreams, 73 million YouTube views and 20 million Spotify streams).

As one of the first to interpret Eastern philosophy and make it relatable to Western audiences,Wattscommentaries andaspirational lectures on themes of unity, self-realization, and the spiritual world have proven to be evermore mainstream.He is perhaps best known for a multitude of famous quotes such as,What would you like to do if money were no object? How would you really enjoy spending your life?andI wonder, I wonder, what you would do if you had the power to dream at night any dream you wanted to dream.

Way Beyond the West,his Bay Area radio show that started in the 1950s, is still broadcast on KPFK in Los Angeles. By the early sixties, Watts radio talks aired nationally, and the counterculture movement adopted him as a spiritual spokesperson.

This is a dream come true. We are elated and honored to be entrusted to represent Alan Watts, whose recordings inspire and resonate today more than ever. Our global TSM creative team is excited to develop new music opportunities and work closely with Mark Watts and the Alan Watts Organization tohelp expose new audiences to his prolific recordings and legacy., saidAlex Kelman, EVP creative & A&R.

Mark Watts, director and cofounder of the Alan Watts Organization, said: Working with the wonderful team at Third Side Music brings abundant real-world experience and great talent to our focus on crafting creative relationships with musicians and labels. It will also help us foster conversations in the areas of filmmaking and commercial use. We are excited about the possibilities!

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Alan Watts, Beat Generation Philosopher And Seminal Counterculture Figure, Gets His Recorded Works Recycled - Yahoo News Australia

In an announcement that is set to shake the decentralized finance (DeFi) world, FortifiedX has revealed the details of its upcoming presale, scheduled to commence on June 26th, 2024. This highly anticipated event promises to position FortifiedX as a significant player in the DeFi sector, offering innovative solutions designed to empower and benefit the crypto community.

BIRMINGHAM, ENGLAND / ACCESSWIRE / June 22, 2024 / In a significant move set to transform the decentralized finance (DeFi) landscape, FortifiedX is thrilled to announce the commencement of its presale on June 26th, 2024. With a comprehensive roadmap and innovative offerings, FortifiedX aims to empower the crypto community and drive forward the next wave of financial technology.

FortifiedX, a rising star in the DeFi sector, is launching its presale with a total allocation of 120 million FXAS tokens. The presale will be conducted in four progressive rounds, ensuring ample opportunity for participation and growth. The first round will release 2 million tokens, setting the stage for the subsequent rounds with increasing token amounts to meet the high demand. The detailed presale structure is as follows:

Round 1: 2 million tokens

Round 2: 10 million tokens

Round 3: 18 million tokens

Round 4: 90 million tokens

The presale will take place on PinkSale, a leading launchpad for new and promising blockchain projects, ensuring a secure and transparent process for all participants. The proceeds from the presale will be strategically utilized to enhance the FortifiedX ecosystem, driving innovation and delivering value to the community.

FortifiedX: A Pioneer in DeFi Innovation

FortifiedX is not just another player in the DeFi space; it is a pioneering force committed to delivering cutting-edge financial solutions. The project is backed by a dedicated management and technical team, which has meticulously developed a robust business model canvas and planned the release of a comprehensive whitepaper.

Key Features of FortifiedX

Fortified X Credit Card: A secured credit solution requiring users to provide assets equivalent to their desired credit limit. This card caters to individuals with limited or poor credit history, offering them a reliable financial tool.

Fortified X Mobile Application: Designed for global access, this app ensures secure trading from anywhere, catering to a diverse user base.

Token Burn Mechanism: To maintain value and reduce supply, tokens left after the Seed Sale, Private Sale, and Presale Rounds will be burned at pre-decided events, ensuring long-term sustainability.

Revolutionary Product Lineup

FortifiedX is proud to present a trio of revolutionary products:

Fortified X Exchange: An intuitive platform for seamless trading of digital assets.

Fortified X Wallet: A secure and user-friendly digital wallet for storing and managing various cryptocurrencies.

Fortified X DeFi Protocol: A comprehensive protocol enabling users to participate in staking, lending, and other DeFi activities.

Each product is meticulously designed to offer unparalleled security, efficiency, and ease of use, driving forward the DeFi revolution.

Ecosystem Excellence

The FortifiedX ecosystem is a testament to its commitment to innovation and user satisfaction. The ecosystem features include:

Robust Security: Ensuring the highest standards of safety for all users.

User-Centric Design: Intuitive interfaces for seamless user experiences.

Scalability: Capable of handling increasing demand without compromising performance.

Community Engagement: Active involvement and feedback integration from the community.

Sustainable Growth: Focused on long-term value and sustainability.

Join the FortifiedX Revolution

As the presale date approaches, FortifiedX invites the global crypto community to participate and become part of this groundbreaking journey. With its innovative solutions, dedicated team, and clear vision, FortifiedX is set to make a significant impact on the DeFi space.

Stay tuned for more updates and join us in revolutionizing decentralized finance. For more information and to participate in the presale, visit PinkSale.

About FortifiedX

FortifiedX is a forward-thinking DeFi project dedicated to delivering innovative financial solutions. By leveraging blockchain technology, FortifiedX aims to create a secure, efficient, and user-friendly ecosystem that empowers individuals and drives the future of finance.

For media inquiries, please contact: admin@fortifiedx.xyz

Media Contact Organization: Fortified X Contact Person: DAVE AKINGBOYE Website: https://fortifiedx.xyz/ Email: admin@fortifiedx.xyz City: Birmingham Country: United Kingdom

SOURCE: Fortified X

View the original press release on accesswire.com

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FortifiedX Announces Highly Anticipated Presale on June 26th: A Leap Towards Revolutionizing DeFi - Markets Insider

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Bitcoin has a built-in scripting language that allows for the creation of simple smart contracts. However, the scripting language has limitations, and some of the original opcodes (operation codes) were disabled in the early days of Bitcoins development. One such opcode is OP_CAT, which has recently resurfaced in discussions within the Bitcoin community.

OP_CAT, short for Operation Concatenate, is an opcode that was initially proposed by Bitcoins creator, Satoshi Nakamoto. The opcode allows for the joining of two data values on the stack within a Bitcoin transaction script. In simpler terms, it enables the combination of two pieces of data into a single piece of data during the execution of a Bitcoin transaction.

With the introduction of the Taproot upgrade and its limited stack size, the original vulnerability that led to the removal of OP_CAT has been mitigated. This has prompted discussions within the Bitcoin community about the potential reactivation of the opcode.

If reactivated, OP_CAT could enable more advanced smart contracts and covenants (spending conditions) to be implemented on the Bitcoin network. This could unlock new use cases, such as:

1. Secure document signing

2. Creation of complex data structures

3. Hashrate escrows

4. Automated market makers

The timeline for the potential reactivation of OP_CAT is uncertain and depends on various factors. Elizabeth Olson, a prominent figure in the Bitcoin space, has suggested that if the proposal to reactivate OP_CAT is approved, we could see its implementation on the Bitcoin network within six months to a year.

However, it is essential to note that the process of reaching consensus within the Bitcoin community and thoroughly testing the opcodes implementation may take longer than anticipated. The Bitcoin community is known for its cautious approach to protocol changes, prioritizing the security and stability of the network above all else.

While the reactivation of OP_CAT could bring new possibilities to the Bitcoin network, there are some concerns and challenges that need to be addressed:

1. Script size inflation: The use of OP_CAT could potentially increase the size of Bitcoin scripts, which could impact the networks efficiency.

2. Security risks: As with any change to the Bitcoin protocol, thorough testing and analysis would be required to ensure that the reactivation of OP_CAT does not introduce any new security vulnerabilities.

3. Achieving consensus: For OP_CAT to be reactivated, the Bitcoin community would need to reach a consensus on the implementation and activation of the opcode, which can be a challenging process.

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Crypto Briefing may augment articles with AI-generated content created by Crypto Briefings own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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What is OP_CAT? Satoshi's dormant opcode that could revolutionize Bitcoin's smart contracts - Crypto Briefing

In a shocking clip that aired on former Republican presidential candidate Vivek Ramaswamys podcast , the right-wing commentator Ann Coulter unabashedly admitted that she would not have voted for Ramaswamy because hes Indian.

Ramaswamy, who was born in the United States to parents who emigrated from India, hosts the podcast Truth. The episode, which was entitled the N word: Nationalism, included many shocking moments of blatant racism.

According to the Daily Beast, after Ramaswamy warmly welcomed Coulter to his show, the conservative media pundit thanked him for having her on by saying: I too am a fan of yours, though Im going to make a point of disagreeing with you so that it will be fun. You are so bright and articulateand I guess I can call you articulate since youre not an American Black, cant say that about them, thats derogatory.

The two launched into a conversation about American identity and citizenship, the New York Post reported that Coulter claimed to Ramaswamy that the national identity is the WASP- White Anglo-Saxon Protestants.

I agreed with many many things you said during in fact, probably more than most other candidates when you were running for president, but I still would not have voted for you, because youre an Indian, she said.

However, in Ramaswamys efforts to promote the podcast on X, not only did he refrain from criticizing Coulter, he expressed his respect for her.

@AnnCoulter told me flat-out to my face that she couldnt vote for me because youre an Indian, even though she agreed with me more than most other candidates. I disagree with her but respect she had the guts to speak her mind, he wrote on X.

Huffpost reported that Ramaswamys post to social media invited backlash from other politicians. Ted Lieu, the representative of Californias 36th congressional district who emigrated from Taiwan, wrote that while he is not surprised by Ann Coulters remarks, he is disappointed in Ramaswamy.

I wasnt surprised that Ann Coulter made a racist statement about Vivek, Lieu posted on X. What surprised me is the weakness and lack of self-respect of @VivekGRamaswamy. Hes actually promoting this episode and praising the person who spewed raw racism to his face. I feel sorry for Vivek.

AsAmNews is published by the non-profit, Asian American Media Inc.Follow us onFacebook,X, Instagram,TikTokandYouTube. Please considermaking a tax-deductible donationto support our efforts to produce diverse content about the AAPI communities. We are supported in part by funding provided by the State of California, administered by theCalifornia State Libraryin partnership with theCalifornia Department of Social Servicesand theCalifornia Commission on Asian and Pacific Islander American Affairsas part of theStop the Hateprogram. To report a hate incident or hate crime and get support, go toCA vs Hate.

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Vivek Ramaswamy welcomes racist comments on his podcast AsAmNews - AsAmNews

An hour before tipoff of Game 2 between the Knicks and Philadelphia 76ers at Madison Square Garden on Monday, backup Sixers guard Buddy Hield is sitting at his locker.

Hield didnt want to speak to the media not while he was preparing for the second of a seven-game first-round playoff series. But he said one word while hunched over, holding a bunch of socks in one hand and his phone in the other, eyes peeled on the projected displaying film on the opponent he was about to face.

Adjust.

The playoffs are all about adjustments.

The right adjustment can swing an entire series in a teams favor, regardless of a perceived talent discrepancy between the two squads.

The wrong adjustment? Well, the wrong adjustment can send a team into a spiral. The wrong adjustment could cost a team a series, a head coach his job.

Adjustments will be abundant in a chess match between two teams with injured stars and high playoff hopes.

The Knicks are on this playoff run without Julius Randle, a three-time All-Star who suffered a season-ending dislocated right shoulder in January.

And for the 76ers, both All-Stars Joel Embiid (meniscus) and Tyrese Maxey (ill) were questionable and listed as game-time decisions before both decided to play through the adversity in Game 2.

I mean listen: I think that you get into the series after Game 1 for sure, said Sixers head coach Nick Nurse. You see a lot of the things that are happening. You can only guess what the coverages will be, what the matchups are gonna be, and all that kind of stuff. So you certainly have a lot of information going into the next game about where youre gonna move your pieces, if theres any matchups you want to change, any schemes you want to change, all that kind of stuff.

You just kind of move the guesses to some more of the factual information youve been presented, and then see how that affects what youre gonna do the next game.

Isaiah Hartenstein, too, is at his locker, a 90-second stroll from where Hield uttered the word adjust.

Hartenstein laughs. This is a question for the head coach, not for the player.

The playoffs are not just about adjustments, but also anticipation: Can you anticipate what the opposing coach is going to do and have a plan of attack ready for it?

For head coach Tom Thibodeau, much of the work leading into this series had been done long before the Knicks knew the victor between the Play-In Tournament matchup between the 76ers and Miami Heat on Wednesday.

As the Sixers and Heat battled for the right to play the Knicks in the first round, Thibodeaus staff spent time finding similarities between the two potential opponents in order to gain a head start for Game 1.

You do it all year long, so you dont have to adjust, Thibodeau said ahead of tipoff on Monday. So, same thing you do with your preparation, you dont change. You analyze the game that you, the things you did well, the things you have to improve upon and get ready for the next one.

Under Thibodeau, the Knicks have their foundational principles: They want to defend hard, shoot a ton of threes, crash the glass and protect the ball. If they do these four things, they believe they can sustain both a poor shooting night of their own or a furious opponent-scoring run.

We come in, we watch film. We have our principles of how we play, Hartenstein said pregame. An adjustment is always going to be made, but at the end of the day, weve got to stick to our principles and just kind of getter better as a team at what we want to do.

Game 1 gave both teams plenty of adjustments to make moving forward.

The Knicks, for example, couldnt stop Tyrese Maxey, who put his superior speed on display to the tune of 33 points in Game 1.

The Sixers found success defending Jalen Brunson, who shot just 8-of-26 from the field for 22 points but to do so, they helped off of Josh Hart, who hit four threes, including a trio of treys in the fourth quarter to help put the Sixers away late.

The Knicks also got some help from Deuce McBride, Bojan Bogdanovic and Mitchell Robinson, who combined to score 42 points off the bench in Game 1, while the Sixers got little else from players not named Embiid and Maxey.

Hield didnt score at all in Game 1 and missed each of the two shots he took in 11 minutes off the bench for the Sixers. The Sixers picked him up specifically for a scoring punch off the bench in a playoff matchup like this one.

Its why hes muttering one word at his locker adjust and why every series has unforeseen twists and turns, regardless of whos suiting up on a given night.

Read more:

Knicks-Sixers playoff is series a chess match rife with adjustments: 'You see a lot of the things that are happening' - New York Daily News

Angle down icon An icon in the shape of an angle pointing down. Peak boomers are getting ready to retire. Alistair Berg/Getty Images

The youngest baby boomers are about to enter retirement and most of them aren't financially prepared for this next stage of their life.

Beginning this year, over 30 million boomers born between 1959 to 1964 will start to turn 65, marking the "largest and final cohort" of that generation entering retirement, according to a new report from the Alliance for Lifetime Income's Retirement Income Institute.

Many in this cohort, known as "peak boomers," are facing significant economic headwinds, the report said. It's what some have called the boomer retirement bomb and it might be costly for the rest of the workers in the economy.

Through an analysis of data from the Federal Reserve and the University of Michigan Health and Retirement Study, the report found that 52.5% of peak boomers have $250,000 or less in assets, meaning that they'll likely deplete their savings and rely primarily on income from Social Security in retirement. Another 14.6% of that cohort have $500,000 or less in assets, meaning "nearly two-thirds will strain to meet their needs in retirement," the report said.

"America has never seen so many people reaching retirement age over a short period, and well over half of them will find it challenging to meet their needs through their retirements, let alone maintain their current standard of living," Robert Shapiro, an author of the report and the former Under Secretary of Commerce for Economic Affairs, said in a statement. "They lack the protected income that many older Boomers have from solid pensions or higher savings."

The peak boomers' retirement wave could also impact the overall US economy. The report projects that employers will have to replace as many as 14.8 million peak boomers primarily in the manufacturing, healthcare, and education industries which could decrease economic productivity.

On top of that, the generation's retirement is likely to have an impact on consumer spending. Using data from the Consumer Expenditure Survey, the report found that peak boomers will spend $204 billion less in 2032 than they did in 2022, with the transportation sector taking the biggest hit.

Still, as the report noted, younger employees are likely to fill some of the jobs that peak boomers will leave, and productivity will rise as technology advances.

Peak boomers entered the workforce just as retirement plans shifted away from defined benefit plans like pensions which generally guarantee stable income and are employer-subsidized to contribution plans like 401(k)s, which rely on workers to pay into them.

Of the different types of retirement-savings plans the report looked at, defined benefit pensions have the least disparities along racial, gender, and ethnicity lines (although there are significant disparities in annual payments) but only 24% of peak boomers hold them, and even those plans are coming up against potential underfunding.

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Already, many retirement-aged Americans are living on paltry incomes. A little over half of Americans over 65 live on incomes of $30,000 or less a year, per the Census Bureau's Current Population Survey, with the largest share living on $10,000 to $19,000. And, per Business Insider's calculations of CPS ASEC data, 79.2% of retirees receive some type of Social Security income.

Retirement-aged Americans, many of whom fall in that peak boomer category, previously told Business Insider that they might just have to continue working until they die or become infirm to stay afloat.

"Only the very wealthy are going to have any dignity in their old age," Pam, who is nearly 58, said. "And the rest of us are just going to pray that they can die while they still have a job because nobody wants to die on the street."

Are you a boomer unprepared for retirement? Contact these reporters at asheffey@businessinsider.com and jkaplan@businessinsider.com.

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'Peak boomers' retiring without pensions to hit economy, Social Security - Business Insider

Recently, psychologist Maytal Eyal has observed what she calls an epidemic of self-hatred. Both within her work as a therapist and in her wider community, Eyal noticed how the weight of self-criticism and self-loathing wears on peoples souls. Its become sort of normalized, she says. And when people feel that way, they want to buy products to self-improve.

A consequence of the cultural obsession with self-improvement is the hyperfixation on the self. From elaborate skin care regimens to the culling of toxic friends from your social circle, some will go through extreme lengths in the name of self-preservation and betterment. However, weve collectively overcorrected when it comes to the impulse to self-correct. When theres always a new ideal to strive toward, a new workout to try, a new home renovation project, a new way to hack bodily functions, it can be hard to feel adequate, sufficient, enough. Very real socioeconomic, racial, and health factors impact a persons ability to feel fulfilled, too. When a society marginalizes people based on their income, background, or abilities, its extremely easy to feel like we dont measure up.

Regardless of your financial circumstances, living situation, or mental and physical health, inescapable psychological functions motivate us to strive for more. Taken too far, these compelling responses can also lead to overconsumption. The barrage of modern marketing and social media-driven comparison only furthers the desire to, well, desire. Theres nothing wrong with wanting to better your life, but there are ways to counter the innumerable pressures both internal and external urging you to spend or labor or improve to reach your full potential.

While all animals are compelled to survive, we as humans may be unique in the lengths to which well go to better that existence. The motivating drive that tells us to seek out food when were hungry or to find shelter when its raining is primed to find other creative life upgrades. A non-peer reviewed study found that when people were asked how certain objects and experiences, like their phone, their pets, and love, could be different, they consistently thought of ways these devices, creatures, and emotions could be better.

The reason why we went from hunting and gathering to living in skyscrapers is because someone had to imagine all of the improvements, says the studys co-author Adam Mastroianni, an experimental psychologist and author of the science newsletter Experimental History. It really does seem to be something very intrinsic in the way that humans work and that theyre always imagining how things can be better than they are right now. There is likely no limit to what people could dream of improving, Mastroianni says, considering how they imagined ways of bettering the experience of love: Theyre like, Oh, there could be more of it, Mastroianni says.

What allows us to strive for more is our ability to constantly adapt. Known as the hedonic treadmill or hedonic adaptation, we have an incredible capacity to acclimate to both positive and negative life events, settling at a base level of satisfaction after objectively good and not-so-good things happen. Hedonic adaptation is why buying a new car feels spectacular for a few weeks and then gradually less so until we realize we need something else to spark ecstasy again. Perhaps accidentally, a niche population of dopamine fasters recognized the phenomena of hedonic adaptation and denied themselves stimulating or enjoyable experiences as a means of staving off habituation for more mundane experiences.

Another factor that fuels our wants and desires is comparison. Not only do we compare ourselves to others, weighing our success and happiness against theirs, but we can juxtapose our current circumstances with what we could want in the future, says Rachit Dubey, a postdoctoral research fellow at MIT Sloan School of Management.

Paired together, hedonic adaptation and comparison mean the goalposts are constantly shifting. Achieving the goal or purchasing the item is just the start of the cycle. When the novelty wears off, we look for the next thing that might bring us self-actualization. Maybe our coworker or best friend or neighbor has that next thing. Then you go on to get that new, next shiny thing, Dubey says. Then you get habituated to it, then you do some more comparisons, and then you want something else. So this is the cycle of habituation and comparisons that can lead to this drive of always wanting more.

This cycle of longing almost never feels good. In a study, Dubey and his colleagues programmed virtual robots he calls agents to act like humans, meaning they got used to positive rewards they received and compared themselves to other agents. Habituation and comparison allowed the agents to achieve more in their virtual world, up to a certain point, but at the cost of their internal happiness, Dubey says. If the agents aspiration levels were left unchecked, their performance actually diminished.

There isnt much that differentiates having a goal and seeing each accomplishment as a step toward a larger pursuit, Dubey says. Because social comparison can motivate people to get a promotion or buy a mansion, there is little preventing us from constantly striving for more if weve already had success on a smaller scale. Even the most well-meaning goals can be taken too far, like turning a joyful hobby into a soul-sucking side hustle.

The instinct to improve our circumstances is a functional one in a society where resources are scarce. The problem arises when those who objectively already have enough and ample time and money are constantly marketed endless goods and opportunities. Then, habituation and comparison fuels unhappiness, Dubey says. Having enough money to cover necessities and conveniences is shown to make people happy, research shows, but earning much beyond that may be detrimental to life satisfaction. People can go from miserable to fine fairly easily, Mastroianni says. Its going from fine to great that gets really hard.

In the pursuit of fine to great, we chase products. Through no fault of our own, we fall prey to messaging from social media users, algorithms, and expert marketers, urging us that this shampoo or this rug will shift the scales toward enoughness. This is how the marketplace continues to work, says Brooke Erin Duffy, an associate professor of communication at Cornell University, which is by amplifying our inadequacies and insecurities.

Baked into these social platforms is a natural ecosystem for comparison. In the past, people weighed themselves against celebrities in the media and those within their immediate social circles, Duffy says. Now, we can compare ourselves to the idealized version of millions of strangers online who may be perpetuating an aesthetic trend inspiring us to buy in order to participate.

Where we falter is believing that more money, more things, better things, better selves will ultimately make us happy. Were obsessed with buying the serum so our skin looks really good, were obsessed with getting the new piece of equipment so that our body looks really good, Eyal, the psychologist, says. But we sort of lost the plot. In one sense, the quest for self-optimization may be a means of asserting control over our lives when war, climate change, and political polarization wreak havoc around us, she says. All the wanting, though, leads to overconsumption, Dubey says.

The hedonic treadmill has implications beyond individual happiness: Attempting to fill an imagined (often by a savvy advertiser) void with more products or swapping out perfectly adequate tech for the newest version taxes our already fragile planet. Dubey argues that we can strive for a better life, for something more, without consuming.

Feeling enough and having goals are not mutually exclusive. Goal-setting is shown to increase performance and motivation, research shows. However, not all goals are created equal, says Tal Ben-Shahar, the founder of the Happiness Studies Academy and a professor at Centenary University. Instead of setting goals based on accumulating things, we should work toward personal growth and development, Ben-Shahar says. This requires deep introspection to determine what we value. If we dont stop to consider what we want out of life and wind up following the status quo as a result, we may become focused on fulfilling someone elses idea of success. Determine whether a goal adds to happiness or detracts from it, Ben-Shahar says, whether it is truly attainable or out of reach, and whether it is something we actually want or something we observed someone else achieve. These may not be easy questions to answer, but theyre worth considering.

Another mindset shift involves moving away from feeling like we are at a deficit, Mastroianni says. If we perceive our starting point to be below baseline, well never climb out of that hole. This line of thinking assumes those who have different jobs than we do, or who live in different locations than us, or dont have the social connections we do cannot live full lives, he says. I ask myself this question a lot, Mastroianni says, if I dont get to live a life that I think is valuable, who does? Who has more than me?

To gain more perspective, many experts and researchers suggest expressing gratitude and appreciation for what we already have. Gratitude prevents us from habituating to the new car or the new job or the new relationship, Ben-Shahar says. Taking a few minutes over dinner or before bed to share or to journal about what were grateful for reminds us of all the ways were enough, instead of how we dont measure up. To avert the impact of hedonic adaptation, we continue to appreciate, Ben-Shahar says, so that we can experience both mindful and heartfelt connection to whatever it is that were appreciating.

Considering how habituation and comparison function and how the culture of consumption ratchets up those experiences its hardly surprising how difficult it is to feel satisfied. But, according to Ben-Shahar, it would serve us well to find the balance between appreciation and aspiration.

Good enough, he says, really is good enough.

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How to deal with feelings of not being good enough - Vox.com