Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. You can pull sub-categories from this feed by adding a ?tags=a,b,c,... style parameter. The category tags (which can be given as numbers or handles) are : id handle category description 1 housing_finance "Housing Finance News/ML-Implode Main" 2 hedge_funds "Hedge Funds News" 3 fed "The Fed, Central Banking and fin. reg." 4 foreclosures "Foreclosures (News)" 5 chavez "Hugo Chavez Watch (News)" 6 builders "Home Builders News" 7 banks "Banks News" 8 credit_bubble "Credit Bubble and Crash (News)" 9 peak_oil "Peak Oil and Energy Security (News)" 10 BRIC_v_us "BRIC countries vs. U.S. (News)" 11 gov_bk "Government Bankruptcy (News)" 12 mediawatch "Mainstream Media Watch" 13 Our commentary "IEHI Original Commentary" 14 rebalancing "Economic Rebalancing (News)" 15 pm "Precious Metals News" 16 inflation "Inflation and Deflation News" 17 nr "Natural Resources News" 18 consumer "Consumer Capitulation/Issues and Populism" 20 pe "Private Equity Implosion (News)" 21 recession "Recession/depression News" 22 ML_implosion "Mortgage Lender IMPLOSIONS" 23 HF_implosion "Hedge Fund IMPLOSIONS" 24 HB_implosion "Home Builder IMPLOSIONS" 25 Bank_implosion "Bank IMPLOSIONS" 26 ML_update "Mortgage Lender UPDATES" 27 HF_update "Hedge Fund UPDATES" 28 HB_update "Home Builder UPDATES" 29 Bank_update "Bank UPDATES" 30 RFWS "Radio Free Wall Street" 31 FHA "FHA and Mtg Regulation (News)" 32 martial_law "Martial Law/Big Brother/NWO Watch" 33 pension "Retirement Implosion (News)" 34 mtgindustry "Mortgage Industry (News)" 35 econlists "Econ insider lists" 36 iehi_fb "IEHI facebook feed" 37 robin_fb "robin facebook" 38 IEHItwitter "IEHI Twitter Feed" 39 ak_linkedin "akrowne LinkedIn (mtg industry)" en-us iehi-feed-55966 Tue, 27 Jan 2015 23:38:52 GMT U.S. Stocks Tumble on Weak Data, Earnings, Dollar http://implode-explode.com/viewnews/2015-01-27_USStocksTumbleonWeakDataEarningsDollar.html iehi-feed-55965 Tue, 27 Jan 2015 22:49:53 GMT Hungary DIDN'T Get Hit By Swiss De-Pegging - Orban Kicked Out Predatory Franc Loans And Has Muzzled Banksters http://implode-explode.com/viewnews/2015-01-27_HungaryDIDNTGetHitBySwissDePeggingOrbanKickedOutPredatoryFrancLo.html This comes courtesy of Jim Willie at the Hat Trick Letter, as a tip from a Hungarian subscriber of his:

"As collateral damage, the Polish and Hungarian exposure has come to the fore, as they hold significant Swiss bank mortgages on property."

Jim, you need to know that amongst the Eastern European nations Hungary is the only one that does not have a property mortgage CHF exposure at all anymore! None.

You are right, we did, and actually it was widespread, but the Orban government with uncanny forsight and great courage has taken on the entire banking sector and neutralized all of it in three waves over a two year period and completed the termination of those loan shark mortgages just a couple of months ago. Talk about timing...

- First wave: the Orban governement forced the banks to allow those who could come up with the money to pay off their mortgages at the exchange rate when those CHF denominated loan shark mortgages incured. Those who had the means scraped all resources, family members chipped in from uncles to grandmothers to come up with the balance. This is when I had paid off my sister's mortgage also.

- Second wave: those who were unable to take advantage of this opportunity, the government established a mandatory exchange rate barrier. Voluntary for the debtors, mandatory for the banks. Basically they extended the payment period at a fixed exchage rate.

- Third wave (and this turned out to be VISIONARY) : the Orban government forced the banks to convert ALL foreign currency denominated property mortgages into Hungarian Forint (HUF) mortgages. Note that this took place just a couple of moths before the CHF depeg.

- Also note that the HUF is not pegged to any currency including USD, EUR etc. Orban wrote into our constitution years ago (and took a lot of heat for it in the EU) that our national currency is the Hungarian Forint. This may also turn out to be a visionary decision given what the near term future may hold for us all.

- Once on the subject, note also that Orban even wrote into our constitution that we are GMO free zone.

- What we have left in CHF are auto loans and consumers loans, but those are maturing soon, so those were left untouched for now. But the elephant in the room has been dealt with.

- The Polish and Romanian governments officially requested expert help from the Orban cabinet to advise them on the details how they did it because they are facing the full impact of the CHF depeg.

- And Orban even did all this very cleverly, hiding behind Supreme Court rulings. He started by calling on the Supreme court to rule on details of this whole issue...

- Didn't destroy the banks, didn't anger them to the point of no return, just went to the very limit (and then some more) without fatal consequences to himself or to us. Mind you, we may well get a colored revolution this coming spring as a payback for revolting all the time.

- One more thorn in their side is that Orban practically nationalized our Central Bank (by the way, happens to be the most beautiful building in the World, built in 1902 ....) hence the 2,5% loans that businesses can take advantage of these days, amongst a range of other beneficial policies.

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iehi-feed-55964 Tue, 27 Jan 2015 22:27:02 GMT U.S. Shale Boom May Come To Abrupt End - More Productive Rigs Means Sharper Decline http://implode-explode.com/viewnews/2015-01-27_USShaleBoomMayComeToAbruptEndMoreProductiveRigsMeansSharperDecli.html iehi-feed-55963 Tue, 27 Jan 2015 15:48:47 GMT Greece's Crazy Leftists Have a Good Idea http://implode-explode.com/viewnews/2015-01-27_GreecesCrazyLeftistsHaveaGoodIdea.html iehi-feed-55962 Tue, 27 Jan 2015 15:46:28 GMT China Switches to Supporting Yuan as Outflows Mount: Currencies http://implode-explode.com/viewnews/2015-01-27_ChinaSwitchestoSupportingYuanasOutflowsMountCurrencies.html iehi-feed-55961 Tue, 27 Jan 2015 15:37:52 GMT Dawn Of A New Politics In Europe? - Steve Keen http://implode-explode.com/viewnews/2015-01-27_DawnOfANewPoliticsInEuropeSteveKeen.html iehi-feed-55960 Tue, 27 Jan 2015 15:28:46 GMT Doug Noland: Draghi's Do Whatever it Takes Beats Estimates http://implode-explode.com/viewnews/2015-01-27_DougNolandDraghisDoWhateveritTakesBeatsEstimates.html iehi-feed-55959 Tue, 27 Jan 2015 15:25:22 GMT How Much Success is Syriza Likely to Have in Ending Austerity? http://implode-explode.com/viewnews/2015-01-27_HowMuchSuccessisSyrizaLikelytoHaveinEndingAusterity.html iehi-feed-55958 Tue, 27 Jan 2015 15:18:19 GMT 16 tech firms worth billions even though they lose millions http://implode-explode.com/viewnews/2015-01-27_16techfirmsworthbillionseventhoughtheylosemillions.html iehi-feed-55957 Tue, 27 Jan 2015 15:16:17 GMT Gary Shilling: Nothing Is Going to Save the Housing Market http://implode-explode.com/viewnews/2015-01-27_GaryShillingNothingIsGoingtoSavetheHousingMarket.html iehi-feed-55956 Mon, 26 Jan 2015 21:06:29 GMT California Settles With OCWEN For A Meager $2.5 Million http://implode-explode.com/viewnews/2015-01-26_CaliforniaSettlesWithOCWENForAMeager25Million.html iehi-feed-55955 Mon, 26 Jan 2015 21:05:59 GMT Chinese Currency Plunges To Peg Limit Against USDollar, Strongest Against Euro In 14 Years http://implode-explode.com/viewnews/2015-01-26_ChineseCurrencyPlungesToPegLimitAgainstUSDollarStrongestAgainstE.html iehi-feed-55954 Mon, 26 Jan 2015 19:57:32 GMT Paul Singer: The Fed is causing inequality http://implode-explode.com/viewnews/2015-01-26_PaulSingerTheFediscausinginequality.html iehi-feed-55953 Mon, 26 Jan 2015 19:56:00 GMT Q4 Revenue Growth at S&P 500 Collapses 68% http://implode-explode.com/viewnews/2015-01-26_Q4RevenueGrowthatSP500Collapses68.html iehi-feed-55952 Mon, 26 Jan 2015 19:49:52 GMT Oil Drillers ‘Going to Die' in 2Q on Crude Price Swoon http://implode-explode.com/viewnews/2015-01-26_OilDrillersGoingtoDiein2QonCrudePriceSwoon.html iehi-feed-55951 Mon, 26 Jan 2015 19:49:16 GMT Haftar forces seize Libya central bank branch in Benghazi http://implode-explode.com/viewnews/2015-01-26_HaftarforcesseizeLibyacentralbankbranchinBenghazi.html iehi-feed-55950 Sat, 24 Jan 2015 01:04:42 GMT Foreclosure echo http://implode-explode.com/viewnews/2015-01-23_Foreclosureecho.html ``Private mortgage insurance was created to help less wealthy people buy homes by reducing the risk to mortgage lenders if the borrower defaults. Generally, home buyers who make less than a 20 percent downpayment must buy the insurance, which typically costs $30 to $70 for every $100,000 borrowed, and pays the bank for some of its losses when the borrower doesn't pay the mortgage and the house goes into foreclosure.

But while the policies have helped hundreds of thousands obtain a mortgage nationwide, they also created a class of home owners who were especially vulnerable when the economy crashed in 2008. They had large mortgages -- sometimes pressed upon them by predatory lenders -- and little equity in their houses. When real estate values collapsed, they often owed more than their houses were worth.''

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iehi-feed-55949 Fri, 23 Jan 2015 16:41:09 GMT JP Morgan adds gold for Natural Resources fund http://implode-explode.com/viewnews/2015-01-23_JPMorganaddsgoldforNaturalResourcesfund.html iehi-feed-55948 Fri, 23 Jan 2015 16:39:27 GMT Moscow to Beijing in 2 days: China to build $242bn high-speed railway http://implode-explode.com/viewnews/2015-01-23_MoscowtoBeijingin2daysChinatobuild242bnhighspeedrailway.html iehi-feed-55947 Fri, 23 Jan 2015 16:03:14 GMT SocGen Explains That Since The ECB's QE Will Fail, It Will Need To Be Increased To €3 Trillion, Include Stocks http://implode-explode.com/viewnews/2015-01-23_SocGenExplainsThatSinceTheECBsQEWillFailItWillNeedToBeIncreasedT.html