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Puerto Rico Says Will Default Tomorrow, Begs Congress For Help "Or Else Crisis Will Get Worse"

Update: PR Governor Padilla has spoken...*PUERTO RICO GOVERNOR SAYS WON'T PAY DEBT TOMORROW, CALLS ON U.S. CONGRESS, PAUL RYAN FOR HELP, CRISIS WILL GET WORSE IF U.S. CONGRESS DOESN'T HELP


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Why So Worried?

What a bunch of worry warts...


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You're Next!

...and now the fun really begins...


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Iraqi Oil & The 'Strange' Death of Mr. Abadi

From here, we expect Abadi to face more calls to resign to pave the way for fresh elections. On balance, those calls will be narrowly dismissed, not because Abadi has any political capital left to appoint a new cabinet, but because a dearth of consensus over who’d replace him. Iran is more than happy to keep Abadi in post to bring Iraq to its knees, while the US won’t want the horrifying nightmare of orchestrating an Iraqi election before US Presidential elections are out the way. Fall short on the 2018 dates, and you’ll merely highlight the ingrained presence ISIS still has in Iraq, amid inexorable state collapse.


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Deutsche Bank Has Systemic Money Laundering, Terrorist Financing And Sanctions Problems: UK Regulator

"Our overall conclusion was that Deutsche Bank UK had serious AML (anti-money laundering), terrorist financing and sanctions failings which were systemic in nature," the FCA said in a recent letter. Deutsche Bank's response? To fire the man it tasked with enforcing "business ethics."


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"Get Out Traitor" - German Justice Minister Flees In Armored Mercedes After Angry Protesters Boo Him Offstage

Heiko Maas, the German Minister of Justice, was unable to finish his Labor Day celebration speech on the 1st of May as he was loudly booed and chased off the stage by the German people. The people repeatedly shouted "Traitor", "Leftist Rat", "Get out!", "We are the People" and "Maas must go!", eventually getting him to cancel his speech and flee to his armored Mercedes escorted by his armed bodyguards.


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Why Socialism Will Always Fail

The paradox of "planning" is that it cannot plan, because of the absence of economic calculation. What is called a planned economy is no economy at all. It is just a system of groping about in the dark. There is no question of a rational choice of means for the best possible attainment of the ultimate ends sought. What is called conscious planning is precisely the elimination of conscious purposive action.


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Two Americas - One Photo

Presented with no comment...


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NATO Deploys 4000 Troops To Russian Border As EUCOM Chief Urges "Return To War-Planning"

With anti-establishmentarians on the rise in the US, it appears the neocons and their NATO proxy aren't wasting any time and are stepping up not just the words, but their deeds, against a so-called "resurgent Russia." NATO's European Command (EUCOM) "needs to change," blasts General Philip Breedlove, urging the military to get back to the business of war planning, a skill lost during the post-Cold War era saying his objective is to send a signal of deterrence to Russia. That signal was heard loud and clear as NATO is deploying an additional four battalions of 4,000 troops to the Russian border in Poland and the three Baltic States, according to a report citing US Deputy Secretary of Defense Robert Work.


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Was The Fed Just Given The Launch Codes?

In light of what has taken place right before, during, and since The Fed's "emergency meetings" and Obama's chit-chat with Yellen; along with what has recently been released for public consumption (and especially by other governments and officials) capped off with the sudden declaration via Treasury of "currency manipulation warnings" - Is it really that much of a stretch to think that just one wrong move whether intentional or not – can set everything we’ve come to know as “business” into complete and utter disarray? If not worse? As in much worse?


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Leaked Docs Reveal TTIP Trade Deal In Jeopardy As "Irreconcilable Differences" Emerge

According to leaked negotiating drafts and internal positions, which were obtained by Greenpeace and seen by the Guardian, it seems the stumbling blocks ahead of the TTIP's implementation are indeed substantial, and potentially dealbreaking. As the Guardian reports, talks for a free trade deal between Europe and the US face a serious impasse with "irreconcilable" differences in some areas.  The leaked texts also show that the two sides are at odds "over US demands that would require the EU to break promises it has made on environmental protection."


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Noble Group’s Cliffhanger

Behind the scenes, the legally aggressive stance of Noble Group Ltd is rapidly becoming known in the financial analysts’ community as analysts and media organizations are threatened one after another by the troubled SGX-listed trader. The censorship and its lawyers used to claim full control of the situation with the hope that its critics and the market would be “reset”—akin to being lobotomized. The company has left us with its cliffhanger: even the most egregious comments made by Iceberg on the trader happened to be entirely correct.


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With A Double Digit Lead In Indiana Polls, Trump Calls The Race: "It's Over, Cruz Can Not Win"

Ahead of the Indiana primary on Tuesday, Donald Trump holds a 15 point lead in the polls according to the Wall Street Journal, and it is starting to become inevitable (at least for those not named Cruz and Kasich) that The Donald will be the Republican's choice to run against Hillary in the fall.


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Still Looks Like A Trap

“If the weather forecast suggests it might rain, wouldn’t you carry an umbrella?


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