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-64586 Sat, 16 Feb 2019 18:43:27 GMT Former Fannie Mae Employee Found Guilty In REO Foreclosure Scam http://implode-explode.com/viewnews/2019-02-16_FormerFannieMaeEmployeeFoundGuiltyInREOForeclosureScam.html iehi-feed-64585 Fri, 15 Feb 2019 21:18:10 GMT Former LandCastle Title CEO Gets 15 Years In Prison http://implode-explode.com/viewnews/2019-02-15_FormerLandCastleTitleCEOGets15YearsInPrison.html iehi-feed-64584 Thu, 14 Feb 2019 16:48:52 GMT Sierra Pacific Mortgage Fined $3.67 Million For FHA Lending Violations http://implode-explode.com/viewnews/2019-02-14_SierraPacificMortgageFined367MillionForFHALendingViolations.html iehi-feed-64583 Wed, 13 Feb 2019 00:05:58 GMT A record number of Americans are 90 days behind on their car payments http://implode-explode.com/viewnews/2019-02-12_ArecordnumberofAmericansare90daysbehindontheircarpayments.html iehi-feed-64582 Wed, 13 Feb 2019 00:03:52 GMT Bill Gates: Alexandria Ocasio-Cortez wealth tax idea misses the point (+SICK MMT BURN) http://implode-explode.com/viewnews/2019-02-12_BillGatesAlexandriaOcasioCortezwealthtaxideamissesthepointSICKMM.html Instead, he said, lawmakers should focus on things like the estate tax, taxes on capital and Social Security. His view may be more closely aligned with Sen. Elizabeth Warren's proposed tax policy that focuses on taxing net worth on households worth more than $50 million.

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Gates.. also ripped the increasingly popular modern monetary theory... The theory, also known as MMT, dismisses concerns about sovereign debt since countries that print their own currency can't really run out of money. "That is some crazy talk," Gates told The Verge.

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iehi-feed-64581 Tue, 12 Feb 2019 23:54:29 GMT Trump made $5.7 billion synonymous with border security. That was a mistake. (NOW MUST TAKE 1/20th ORIG. OFFER) http://implode-explode.com/viewnews/2019-02-12_Trumpmade57billionsynonymouswithbordersecurityThatwasamistakeNOW.html He refused to support a bipartisan compromise in February 2018 that would have given him $25 billion over 10 years, including $2.5 billion that year. Trump then rejected a stopgap spending bill in December that would have prevented a shutdown and left more time for lawmakers to reach a deal.

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Now, with the deadline to fund the government coming up once again, lawmakers on Monday night worked out a compromise to avert another painful and wasteful shutdown.

That deal would keep the government open and give Trump a chunk of money, $1.375 billion to be precise, for his border wall. It's certainly not what the White House wanted, but it would prevent another costly shut down and get some of his wall built.

Trump should take it while he can. He should make a show of accepting the compromise, hold himself up as a leader, and then do a nice photo op as soon as construction starts at the border.

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iehi-feed-64580 Tue, 12 Feb 2019 20:04:38 GMT Ditech Files Bankruptcy For The 2nd Time In 14 Months. Is This The End? http://implode-explode.com/viewnews/2019-02-12_DitechFilesBankruptcyForThe2ndTimeIn14MonthsIsThisTheEnd.html iehi-feed-64579 Tue, 12 Feb 2019 09:28:22 GMT Reason #437 to own gold: The Fed wants Negative Interest Rates http://implode-explode.com/viewnews/2019-02-12_Reason437toowngoldTheFedwantsNegativeInterestRates.html ... after a 20% drop in US stocks, the Fed has taken its foot off the pedal. But the people still want more... Both the European Central Bank and the Bank of Japan were supposed to start tightening policy and raising rates... now, they are both considering cutting interest rates even deeper into negative territory.

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The President of the Federal Reserve Bank of St. Louis thinks current interest rates are "too restrictive." He too wants lower rates.

The San Francisco Fed agrees -- they were singing the praises of negative interest rates in a recent research paper, saying they would have helped the economy recover even faster after 2008.

And SocGen economist Albert Edwards thinks the US will see negative interest rates and helicopter money (meaning central banks will print money and give it directly to the people) during the next recession.

Now that the public is once again being reminded that the Fed and its cohorts have no credibility, let's see if hard assets come back, as they should...

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iehi-feed-64578 Mon, 11 Feb 2019 16:13:07 GMT BB&T Bank Buys Suntrust Bank For $66 Billion http://implode-explode.com/viewnews/2019-02-11_BBTBankBuysSuntrustBankFor66Billion.html iehi-feed-64577 Sun, 10 Feb 2019 13:52:35 GMT Zucked by Roger McNamee review -- Facebook's catastrophe http://implode-explode.com/viewnews/2019-02-10_ZuckedbyRogerMcNameereviewFacebookscatastrophe.html iehi-feed-64576 Fri, 08 Feb 2019 17:11:23 GMT 3rd Vanguard Funding Executive Admits Guilt In Embezzlement Scheme http://implode-explode.com/viewnews/2019-02-08_3rdVanguardFundingExecutiveAdmitsGuiltInEmbezzlementScheme.html iehi-feed-64575 Tue, 05 Feb 2019 23:06:21 GMT Detroit Land Bank Owned Properties Used For Drug And Sex Trafficking http://implode-explode.com/viewnews/2019-02-05_DetroitLandBankOwnedPropertiesUsedForDrugAndSexTrafficking.html iehi-feed-64573 Tue, 05 Feb 2019 04:59:14 GMT Federal prosecutors issue sweeping subpoena for documents from Trump inaugural committee, a sign of a deepening criminal probe http://implode-explode.com/viewnews/2019-02-04_FederalprosecutorsissuesweepingsubpoenafordocumentsfromTrumpinau.html ``Federal prosecutors in New York on Monday delivered a sweeping request for documents related to donations and spending by President Trump's inaugural committee, a sign of a deepening criminal investigation into activities related to the nonprofit organization.

A wide-ranging subpoena served on the inaugural committee Monday seeks an array of documents, including all information related to inaugural donors, vendors, contractors, bank accounts of the inaugural committee and any information related to foreign contributors to the committee, according to a copy reviewed by The Washington Post.

Only U.S. citizens and legal residents can legally donate to a committee established to finance presidential inaugural festivities.

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The subpoena -- issued by the U.S. attorney's office in the Southern District of New York -- indicates that prosecutors are investigating crimes related to conspiracy to defraud the United States, mail fraud, false statements, wire fraud and money laundering.

The subpoena also specifically seeks all communications with one donor, Los Angeles venture capitalist Imaad Zuberi, as well as the firm with which he is affiliated, Avenue Ventures. The company donated $900,000 to the inaugural committee, records show.

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The committee was chaired by real estate developer Tom Barrack Jr., a longtime friend of Trump's. Barrack, who is not mentioned by name in the subpoena, declined to comment.

The request for documents, first reported by ABC News, is a sign of another widening legal headache for Trump, whose business, personal charitable foundation and campaign are all under investigation by state and federal authorities.

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At Manafort's trial in Virginia in August, [Rick] Gates testified that it was "possible" that he stole money from the inaugural committee by submitting false expense reports for his work.

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iehi-feed-64572 Mon, 04 Feb 2019 23:41:22 GMT The city with no homeless on its streets http://implode-explode.com/viewnews/2019-02-04_Thecitywithnohomelessonitsstreets.html Under Housing First, the offer of a home is unconditional. Even if someone is still taking drugs or abusing alcohol they still get to stay in the house or flat, so long as they are interacting with support workers.

They can pay rent through state housing benefit and people can even opt to stay for the rest of their lives

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Housing First's success has caught the attention of the UK government, which last year agreed to pay for pilot schemes in Greater Manchester, Merseyside and the West Midlands.

There are already several small scale trials being carried out in Wales, some run by The Salvation Army, others by local authorities. Those behind the schemes say the results so far have been positive.

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iehi-feed-64571 Mon, 04 Feb 2019 21:49:44 GMT Huawei Sting Offers Rare Glimpse of U.S. Targeting Chinese Giant http://implode-explode.com/viewnews/2019-02-04_HuaweiStingOffersRareGlimpseofUSTargetingChineseGiant.html

The sample looked like an ordinary piece of glass, 4 inches square and transparent on both sides. It'd been packed like the precious specimen its inventor, Adam Khan, believed it to be--placed on wax paper, nestled in a tray lined with silicon gel, enclosed in a plastic case, surrounded by air bags, sealed in a cardboard box--and then sent for testing to a laboratory in San Diego owned by Huawei Technologies Co. But when the sample came back last August, months late and badly damaged, Khan knew something was terribly wrong. Was the Chinese company trying to steal his technology?

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This investigation, which hasn't previously been made public, is separate from the recently announced grand jury indictments against Huawei. On Jan. 28, federal prosecutors in Brooklyn charged the company and its chief financial officer, Meng Wanzhou, with multiple counts of fraud and conspiracy. In a separate case, prosecutors in Seattle charged Huawei with theft of trade secrets, conspiracy, and obstruction of justice, claiming that one of its employees stole a part from a robot, known as Tappy, at a T-Mobile US Inc. facility in Bellevue, Wash. "These charges lay bare Huawei's alleged blatant disregard for the laws of our country and standard global business practices," Christopher Wray, the FBI director, said in a press release accompanying the Jan. 28 indictments. "Today should serve as a warning that we will not tolerate businesses that violate our laws, obstruct justice, or jeopardize national and economic well-being." Huawei has denied the charges.

If the new investigation bears fruit, it could, along with the indictments, bolster the Trump administration's effort to block Huawei from selling equipment for fifth-generation, or 5G, wireless networks in the U.S. and allied nations. The U.S. believes Huawei poses a national security threat, in part, because it could build undetectable backdoors into 5G hardware and software, allowing the Chinese government to spy on American communications and wage cyberwarfare. Huawei has said this is political posturing aimed at harming a Chinese company, and skeptics have pointed out that the T-Mobile allegation has since been settled in civil court and concerns events that played out more than a half-decade ago. "If Tappy is as far as they've gotten on [intellectual property] theft, that seems to be pretty thin gruel," Adam Segal, a cybersecurity expert at the Council on Foreign Relations told the Washington Post recently.

... if the government does conclude that Akhan was attacked, that a Chinese multinational really did target a tiny Chicago company with no revenue and no customers (as of yet), it would show just how far and wide Huawei is willing to go to steal American trade secrets. "I think they're identifying technologies that are key to their road map and going after them no matter what the size or scale or status of the business," Khan says. "I wouldn't say they're discriminating."''

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iehi-feed-64570 Mon, 04 Feb 2019 00:36:57 GMT Democrats Push Plan to Increase Social Security Benefits and Solvency http://implode-explode.com/viewnews/2019-02-03_DemocratsPushPlantoIncreaseSocialSecurityBenefitsandSolvency.html The Social Security 2100 Act, which was introduced this past week in the House and the Senate, represents a sea change after decades dominated by concern that aging baby boomers would bankrupt the government as they begin drawing benefits from Social Security and other entitlement programs.

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The bill would provide an across-the-board benefit increase equivalent to about 2 percent of the average Social Security benefit. It would raise the annual cost-of-living adjustment to reflect the fact that older Americans tend to use more of some services like health care. And it would increase the minimum benefit to ensure that workers with many years of low earnings do not retire into poverty.

The bill would cut federal income taxes on Social Security benefits for about 12 million middle-income people while raising taxes elsewhere. The payroll tax rate would rise to 14.8 percent over the next 24 years, from 12.4 percent, and the payroll tax would be imposed on earnings over $400,000 a year.

The maximum amount of earnings subject to the Social Security payroll tax this year is $132,900. The proposal would, in effect, create a doughnut hole, where earnings from $132,900 to $400,000 would not be taxed.

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Nonpartisan actuaries at the Social Security Administration say that the program will soon be spending more than it takes in and that the trust funds for retirement and disability benefits will be depleted by 2034 if Congress makes no changes.

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Of all the money raised by the bill, about one-fourth would be used to increase benefits, and the rest would cover projected deficits in the Social Security trust over the next 75 years.

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Andrew G. Biggs, a Republican who was the principal deputy commissioner of Social Security under President George W. Bush, praised some features of Mr. Larson's bill.

"It doesn't just fix Social Security for 75 years," Mr. Biggs said. "It would keep the system permanently solvent. That's a real plus."

On the other hand, Mr. Biggs said: "The bill would give a lot of money to middle- and upper-income retirees who are already doing well. And it would significantly increase payroll taxes on workers."

Ruh-roh -- so the Dems are snatching the mantle of the party that wants to propose realistic reform to make SS more fair and solvent, and not be just a sop to the financial industry... this is quite a jiu-jitsu move!

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iehi-feed-64569 Mon, 04 Feb 2019 00:03:47 GMT Delayed, not saved: Foxconn's Wisconsin http://implode-explode.com/viewnews/2019-02-03_DelayednotsavedFoxconnsWisconsin.html The factory is not back on. LCDs are pure commodities, among the lowest-margin components, and about to be made obsolete by OLEDs. There is zero business-case for building these outside of Asia-Pacific. It was a stunt, it was always a stunt, just like it was a stunt all the other times they did it.

The reason for the announcement is that Donald Trump called them up and asked them to announce that the factory would be built. Donald Trump will be president for two or fewer years, during which time Foxconn can dither and dick around and do very little, and then they can announce that the factory is off. This news will be welcomed by Trump's successor, from either party, as a way to further discredit him.

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iehi-feed-64568 Sun, 03 Feb 2019 23:50:39 GMT McConnell, Rubio, and Graham Russian Benefactor Benefits as McConnell Rolls Back Sanctions http://implode-explode.com/viewnews/2019-02-03_McConnellRubioandGrahamRussianBenefactorBenefitsasMcConnellRolls.html Monday evening brought a new twist. It was discovered that one of Mitch McConnell's major donors, Len Blavatnik, who is tied to Vladimir Putin and other Russian oligarchs, benefited when Trump and McConnell lifted Russian sanctions on Sunday.

Along with McConnell, Republican Senators Marco Rubio and Lindsey Graham received hefty sums from Blavatnik as well.

... Mitch McConnell is benefiting from his direct and indirect ties to Putin and Russian oligarchs, which most likely guided McConnell's recent vote to lift Russian sanctions. And it would seem he clearly voted in the interest of himself, his king and his Russian ties, when McConnell should have been working in the best interest of the American people''

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iehi-feed-64567 Sun, 03 Feb 2019 21:16:36 GMT H&M to shutter 160 stores amid profit slump http://implode-explode.com/viewnews/2019-02-03_HMtoshutter160storesamidprofitslump.html iehi-feed-64566 Sun, 03 Feb 2019 01:15:23 GMT 8M SF Of Big-Box Stores Are Being Turned Into Distribution Centers http://implode-explode.com/viewnews/2019-02-02_8MSFOfBigBoxStoresAreBeingTurnedIntoDistributionCenters.html