New Orleans

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It's Not Just The Students Who Are Broke: LSU Draws Up Bankruptcy Plan





"Louisiana faces a $1.6 billion budget shortfall in the coming fiscal year, a result of both plunging oil-tax revenue and the state’s failure to enact adequate tax increases or spending cuts after the economic downturn in 2009. The latest plans would mean an 82 percent cut to the state’s public colleges and universities."

 
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Houston "Police Officer of the Year" Indicted For Trafficking Weapons For Los Zetas Drug Cartel





What’s so shocking about the story below is not that a 20-year veteran of the Houston police force, who was previously named one of the “Officers of the Year” by the Officers Union, was trafficking weapons for drug cartels. What’s shocking is that he was actually indicted and faces life in prison. He should’ve worked for a federal agency like the DEA or TSA, in which case he might not have even been fired.

 
Tyler Durden's picture

Who Is Saudi Arabia Really Targeting In Its Price War?





Saudi Arabia is not trying to crush U.S. shale plays. Its oil-price war is with the investment banks and the stupid money they directed to fund the plays. It is also with the zero-interest rate economic conditions that made this possible. Saudi Arabia intends to keep oil prices low for as long as possible.

 
Tyler Durden's picture

Spelling Out The Big Reset





Wiping out creditors by inflation is the easy part. Re-establishing money to restart the world economy is the harder one.

 
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Alan Greenspan Warns Of Explosive Inflation: "Tinderbox Looking For A Spark"





Greenspan believes that in five years gold will be “measurably higher” than current levels because of the excess liquidity that will eventually be released into the open market. Such an event will undoubtedly lead to riots across America as the general public, woefully unprepared for rapidly rising prices when the pin finally pops the dollar bubble, loses access to affordable critical supplies like food, gas and other resources. The collapse of the dollar, an inevitability suggested by Alan Greenspan, will be a game changer that results in the quadrupling of the cost of living for the average American.

 
Tyler Durden's picture

Private Police: Mercenaries For The American Police State





The growing dilemma we now face is private police officers outnumber public officers (more than two to one), as the corporate elite transforms the face of policing in America into a privatized affair that operates beyond the reach of the Fourth Amendment. What we’re finding ourselves faced with is a government of mercenaries, bought and paid for with our tax dollars, all the while claiming to be beyond the reach of the Constitution’s dictates. When all is said and done, privatization in the American police state amounts to little more than the corporate elite providing cover for government wrong-doing. Either way, the American citizen loses.

 
Tyler Durden's picture

A Peek Inside The Chaos Of A Jobless Claims Website





Presenting the Florida jobless claims website. According to the Miami Herald reports, on Friday, the state’s auditor general issued a scathing 45-page audit that joins mounting evidence that CONNECT - aka Florida's Online Reemployment Assistance System or said simpler, jobless claims website - is a system in disarray.

 

 
Tyler Durden's picture

Alan Greenspan Warns: There Will Be a “Significant Market Event... Something Big Is Going To Happen”





"We really cannot exit this [era of QE and ZIRP] without some significant market event... The end has to come at some point... Gold will go measurably higher...  In any market that is so one sided, that is accelerating so rapidly, that trend will end… it will most likely end in a fairly violent fashion."

 
Tyler Durden's picture

A Moral Code For The Post-Collapse World





From “24” to “Breaking Bad” to “The Walking Dead,” American minds are being saturated with propaganda selling the idea that crisis situations require a survivor to abandon conscience. What we see developing is an extremely dangerous philosophy that rests on the foundation that victory (or survival) is the paramount virtue and that it should be attained at any cost. Moral compass becomes a “luxury” that “true” apex survivors cannot afford, an obstacle that could eventually get one killed, believing that the “survival of the fittest” is more important than the survival of the principled. However, if we cast aside our principles in the name of victory, then, ironically, we have still lost everything. If there is such a thing as the “greater good,” truth and honor must be the apex of that vision.

 
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IRS 'Kinda Sorta' Apologizes For Seizing Small Business Accounts Without Warrants





27 years ago, in his acceptance speech, George H.W. Bush famously told America that he wanted a "kinder, gentler nation." While it took nearly three decades, it seems that his wish has finally come true. Sort of. Last week, the Commissioner of the Internal Revenue Service appeared in front of the House Way and Means Oversight Subcommittee... and apologized to taxpayers, specifically those who have had their assets seized and bank accounts wrongfully frozen - "To anyone who is not treated fairly under the [tax] code, I apologize."

 
Tyler Durden's picture

"Catastrophic Shutdown Of America's Supply Chain Looms" As West Coast Port Worker Talks Break Down





according to the latest update from the 29 west coast ports that serve as the entry point of the bulk of Asia/Pac trade into and out of the US, things are about to get far worse for America's manucaturing base, because as RILA reported earlier, talks between the Pacific Maritime Association (PMA) representing port management, and the International Longshore and Warehouse Union (ILWU) officially broke down on Wendesday, and without an agreement, experts have suggested that nearly 30 west coast ports could be shut down within a week. As RILA reports, "a work slowdown during contract negotiations over the past seven months has already created logistic nightmares for American exporters, manufacturers and retailers dependent on an efficient supply chain. A complete shutdown would be catastrophic, with hundreds of thousands of jobs at risk if America’s supply chain grinds to a halt."

 
Cognitive Dissonance's picture

Tighten Those Chin Straps Folks Because Here Comes a Rapid Unscheduled Disassembly (RUD)





Just because we do not acknowledge the binds that tie us to our servitude does not invalidate their existence, but rather significantly strengthens them.

 
Tyler Durden's picture

Aircraft Carrier Stennis Has Biggest Ordnance Onload Since 2010





Nearly two weeks ago, we were surprised to read on the Navy's website that one of America's prize aircraft carriers, CVN-74, John C. Stennis (whose crew is perhaps best known for the following awkward incident), as part of an operational training period in preparation for future deployments, just underwent not only its first ordnance onload since 2010, but, according to Senior Chief Aviation Ordnanceman Jason Engleman, G-5 division's leading chief petty officer, "the biggest ordnance onload we've seen."

 
rcwhalen's picture

Swiss Francs & Global Debt Deflation





"There will first be a pernicious excitement, and next a fatal collapse." -- Walter Bagehot, Lombard Street (1844)

 
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2014 Year In Review (Part 2): Will 2015 Be The Year It All Comes Tumbling Down?





Despite the authorities' best efforts to keep everything orderly, we know how this global Game of Geopolitical Tetris ends: "Players lose a typical game of Tetris when they can no longer keep up with the increasing speed, and the Tetriminos stack up to the top of the playing field. This is commonly referred to as topping out."

"I’m tired of being outraged!"

 
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