Anonymous ID: cb7c63 April 14, 2019, 10:33 a.m. No.6175606   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>5623 >>5781 >>5918 >>6214

The $14 billion system of levees and floodwalls built around New Orleans after Hurricane Katrina is already sinking less than a year after it was completed

 

The Army Corps of Engineers said in an impact study notice earlier this month that the flood control system could loose its intended ability protect against a 100-year flood as soon as 2023.

The agency said it it was concerned by 'weak soils, general subsidence, and the global incidence of sea level rise that will cause levees to require future lifts to sustain performance.'

The Corps of Engineers said it needs to study whether it would be worthwhile to undertake a costly project to lift hundreds of miles of floodworks that protect New Orleans. 'These systems that maybe were protecting us before are no longer going to be able to protect us without adjustments,' Emily Vuxton, policy director of the Coalition to Restore Coastal Louisiana, an environmental group, told Scientific American.

She said repair costs could be 'hundreds of millions' of dollars, with 75 per cent paid by federal taxpayers.

'I think this work is necessary. We have to protect the population of New Orleans,' Vuxton said.

Corps officials won't have an estimate of exactly what work is needed or how much it will cost until their reports are completed.

The existing levee system was constructed at taxpayer expense in the years after some 1,800 died in Hurricane Katrina in 2005.

 

It is designed to protect against a flood level that has a 1 per cent chance of occurring on any given year, a so-called 100-year flood.

That level of protection is required in order for property behind the levees to participate in the National Flood Insurance Program.

In 2023, the levees must be recertified as still providing that level of protection, or the homes behind them run the risk of being declared ineligible for coverage.

In its April second notice in the Federal Register, the Army Corps of Engineers says that 'absent future levee lifts to offset consolidation, settlement, subsidence, and sea level rise, risk to life and property in the Greater New Orleans area will progressively increase.'

 

https://www.dailymail.co.uk/news/article-6919275/The-14-billion-levees-built-New-Orleans-sinking.html

Anonymous ID: cb7c63 April 14, 2019, 10:44 a.m. No.6175677   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>5692 >>5734 >>5781 >>5918 >>5937 >>6214

Tory candidates abandon the Conservatives for Nigel Farage's Brexit Party - with up to FORTY MEPs plotting to defect amid fears of a 'disaster' in May's EU elections

 

The Conservatives are facing an exodus as up to 40 EU election candidates are believed to be defecting to the Brexit Party.

Former Ukip leader Nigel Farage has reportedly received word from 26 MPs that privately said they will vote for his new group.

And even more are said to be ditching their Tory MEP campaigns in favour of standing for the Brexit Party.

 

https://www.dailymail.co.uk/news/article-6921149/Nigel-Farages-Brexit-Party-set-drain-Tory-candidates-EU-elections-month.html

 

Q!!mG7VJxZNCI

23 Mar 2019 - 4:43:56 PM

 

https://mobile.twitter.com/Independent/status/1109527242613448704๐Ÿ“

MAYday

MAYday

MAYday

Democracy matters.

The WILL of the PEOPLE.

UNITED not divided.

WWG1WGA!!!

Q

Anonymous ID: cb7c63 April 14, 2019, 11:38 a.m. No.6176094   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>6137

You had 'one job', Jeromeโ€ฆ

 

Trump Admits It's The Fed's "Job" To Push Stocks Higher

 

When President Trump demanded earlier this month that the Fed should cut interest rates to undo some of the damage it has done to the economy with its pernicious rate hikes, we pointed out the obvious dissonance between advocating for rate cuts while insisting that the economy is the strongest it has ever been.

But the incongruity disappears when one considers that the central bank's "dual mandate" simply masks its true purpose: To levitate asset prices and ensure that wealthy Americans get richer, while (at least for now) averting an all-out pension fund crisis.

 

Though the central bank's "third mandate" is rarely, if ever, directly acknowledged, President Trump violated this convention in a tweet on Sunday, when he declared that the central bank, had it "done its job properly" would have sent the Dow another 5,000 to 10,000 points higher, and that GDP growth would have been "well over 4%".

In essence, this is the president admitting that the Fed's only job is to push stocks higher, damn the deteriorating fundamentals that make leave valuations increasingly divorced from reality.

 

Of course, as many have pointed out, Trump's conversion to Fed interventionism is a relatively recent development.

While this tweet will almost certainly elicit howls from economists warning about the damage Trump is doing to the Fed' precious 'credibility' (or whatever is left of it), we think it's refreshing to finally hear the most powerful man in the free world speak openly about its most powerful central bank.

 

https://www.zerohedge.com/news/2019-04-14/trump-admits-its-feds-job-push-stocks-higher