Implode-Explode Heavy Industries news feed

Top German body calls for QE blitz to avert deflation trap in Europe

Tue, 11 Mar 2014 15:22:37 GMT

``The DIW is one of the five German institutes with an official advisory role, and is a powerful voice in German affairs. The call for drastic action suggests that the country may be more open to a reflation strategy than assumed, and puts pressure on the two German members of the ECB council to tone down their vehement opposition to any form of QE.''

Coutts adds gold as demand in China climbs

Tue, 11 Mar 2014 15:21:55 GMT

``The private-banking division of Royal Bank of Scotland Group Plc holds 3 percent to 4 percent in its portfolios, from 1 percent to 2 percent last year, said Gary Dugan, chief investment officer for Asia and the Middle East. Coutts had 29.7 billion pounds ($49.4 billion) under management as of Dec. 31.''

China may ax interest rate controls within 2 years

Tue, 11 Mar 2014 15:20:04 GMT

``"Liberalization of deposit rates, this should be the last step in interest rate marketization," said Zhou at a news conference. "I personally believe it is very possible to realize this within one to two years."''

China Gets 1st Onshore Bond Default as Chaori Doesn't Pay

Tue, 11 Mar 2014 15:19:01 GMT

``China's onshore bond market experienced its first default as a solar-cell maker failed to pay full interest on its bonds, signaling the government will back off its practice of bailing out companies with bad debt.''

Confrontation in Ukraine as diplomacy stalls

Tue, 11 Mar 2014 15:18:27 GMT

``"The United States is not prepared to recognize any result of the so-called referendum taking place in six days' time," U.S. ambassador Geoffrey Pyatt said in Kiev. "We are committed to Crimea's status as part of Ukraine. The crisis needs to be solved diplomatically, not militarily." ''

George Soros blasts 'parasite' banks; EU

Tue, 11 Mar 2014 15:06:41 GMT

``George Soros, the billionaire investor, believes the banking sector is a "parasite" holding back the economic recovery and an "incestuous" relationship with regulators means little has been done to resolve the issues behind the 2008 crisis.''

SEC Said to Probe Whether Forex Rigging Distorted Options

Tue, 11 Mar 2014 15:03:56 GMT

``The SEC's inquiry adds to European and U.S. regulatory probes of possible manipulation in currency markets. The SEC's investigation is in the early stages, said the people, who asked not to be named because the matter isn't public''

Banking isn't a wonderful life now as suicides sweep financial district

Tue, 11 Mar 2014 00:30:31 GMT

In the last two months, there has been a rash of suicides and mysterious deaths sweeping the world of high finance.
JPMorgan has been hardest hit, with three untimely deaths in just the last few weeks, and last week Autumn Radtke (left), a 28-year-old CEO of First Meta, a small cyber-currency exchange, jumped to her death in Singapore.

Jury Convicts Leaders of RMBS Defraud Scheme | Mortgage News | Daily National and State Headlines

Mon, 10 Mar 2014 21:55:55 GMT

``According to the evidence introduced during the three-week trial, in response to the 2008 financial collapse, the U.S. Department of Treasury introduced the Legacy Securities Public-Private Investment Program (PPIP) and used more than $22 billion of bailout money from TARP to restart the trading markets for many troubled securities, including certain kinds of RMBS. The program created nine PPIP funds, and more than 100 firms applied to manage the funds. TARP infused between $1.4 billion and $3.7 billion of bailout money into each of the PPIP funds that was to be invested alongside private capital.''

Former TD Bank employee, accomplice pleads guilty to identity theft - South Florida Business Journal

Mon, 10 Mar 2014 18:31:24 GMT

``According to the charges brought by the U.S. Attorney for the Southern District of Florida, Tenisha Francis opened seven fraudulent accounts at TD Bank using stolen information obtained by Ryan Francis, who in turn paid her between $200 and $500 per account. These accounts were used to deposit improper tax refund checks and then withdraw that money through ATMs and checks payable to Ryan Francis, his wife and his business, according to the complaint.
Tenisha Francis caused $120,000 to $200,000 in losses, prosecutors said.''

World stocks, copper and oil hit by weak China exports

Mon, 10 Mar 2014 16:57:48 GMT

``China's exports unexpectedly tumbled in February, falling 18.1 percent from a year earlier and swinging the trade balance into deficit. The data underscored recent concerns about the outlook for China's economy, even though the Lunar New Year holidays were blamed for the slide.''

Euro Anxieties Wane as Bunds Top Treasuries, Spain Debt Rallies

Mon, 10 Mar 2014 16:56:42 GMT

``While the decline in European yields relative to those in the U.S. points to investor faith in Draghi's pledge to backstop the bond markets, it also reflects concern the region will need more support to recover from the sovereign debt crisis. Economists predict the euro-area will expand 1.1 percent this year, compared with 2.9 percent growth in the U.S., boosting the case for the ECB to keep down borrowing costs as the Fed moves closer to ending stimulus and raising interest rates.''

Get on the bus, Gus: U.S. posts record public transit use

Mon, 10 Mar 2014 16:51:12 GMT

``Americans took a record 10.7 billion trips on public transportation last year as an increase in urban living, costlier fuel, more investment and an economic upturn helped drive ridership, an industry group said on Monday... The U.S. trend toward urban living and walkable cities also is behind the upturn in ridership. A surge in ridership that came in 2008 when gasoline and diesel prices spiked has continued even though the cost of fuel has fallen, Melaniphy said.''

Oil and Natural Gas as Weapon of War

Mon, 10 Mar 2014 16:50:11 GMT

``I have nothing against exporting American natural gas -- thanks to hydro-fracturing and horizontal drilling we've got more of it than anyone else in the world -- but it's foolish to think we can just turn on the tap and expect Russia to melt like the Wicked Witch. Realistically, it will be early 2016 at best before any of the permitted liquefied natural gas export facilities come on line. Rome wasn't built in a day, and Russia's expansion plans can't be thwarted with our energy overnight.''

Carney Faces Grilling as Currency Scandal Snares BOE

Mon, 10 Mar 2014 16:48:18 GMT

``Bank of England Governor Mark Carney will face his toughest public testimony to date as he seeks to defend the integrity of an institution that's become embroiled in the currency-manipulation scandal.''

Underwater and Unsolvable -- A Lifetime of Homeowner Mortgage Debt - Mandelman Matters

Mon, 10 Mar 2014 16:38:35 GMT

``The bottom-line is that the banks cannot take the loss that would result from writing down the seconds. The retiree pension plans and mutual funds cannot take the losses that would result from writing down the securitized first mortgages. Only the U.S. taxpayers can take losses of that magnitude, and politically there's no way that can happen either. I'm afraid we are in for a long, increasingly unmanageable downward slide.''

Demand for Mortgages Plummets, But It's Not a Winter Storm, It's More of an Ice Age - Mandelman Matters

Mon, 10 Mar 2014 16:33:03 GMT

``Of course, the press-release-based-press is blaming higher interest rates, which I can't help but think of as being laugh out loud, hysterical. Look, if four percent interest rates are killing your housing market... well, you don't have much of a housing market.''

This World Bank Insider Will Blow You Away: "There Is A Huge Global Conspiracy"

Sun, 09 Mar 2014 13:53:56 GMT

We have solved the mystery as to why humanity has had nothing but wars and terrible problems... why we're always at each other's throats.
...

This group is part of a huge conspiracy...

Is Con-Edison Igniting A New Housing Crisis In New York?

Sat, 08 Mar 2014 16:14:33 GMT

As people in the New York metropolitan area began breathing a sigh of relief from brutal winter that has plagued most of the U.S. for the past five months, they were thrown into shock when they opened their Con-Ed bills this week to find that their bill increased by 200-300%.

Doug Noland - Flowing Funds Fund Geopolitical Strife

Sat, 08 Mar 2014 16:04:20 GMT

``I don't believe the ongoing melt-up in U.S. stocks and the rapidly deteriorating geopolitical backdrop are coincidental. Again, from my analytical framework, both are creatures of historic monetary inflation. Serious (faltering Bubble) stress at the "periphery" now dictates erratic behavior many would view (from the old world view) as irrational. Meanwhile, liquidity flooding into the "core" feeds a historic speculative Bubble''