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-65373 Mon, 01 Jun 2020 14:05:58 GMT New York Courts Re-Open This Week For In-Person Hearings http://implode-explode.com/viewnews/2020-06-01_NewYorkCourtsReOpenThisWeekForInPersonHearings.html iehi-feed-65372 Sun, 31 May 2020 17:56:08 GMT 5 Reasons Why Facebook Marketing Is A Waste Of Time And Money http://implode-explode.com/viewnews/2020-05-31_5ReasonsWhyFacebookMarketingIsAWasteOfTimeAndMoney.html iehi-feed-65371 Sun, 31 May 2020 04:14:25 GMT America Is a Tinderbox http://implode-explode.com/viewnews/2020-05-31_AmericaIsaTinderbox.html So many things make America combustible right now: mass unemployment, a pandemic that's laid bare murderous health and economic inequalities, teenagers with little to do, police violence, right-wingers itching for a second civil war and a president eager to pour gasoline on every fire. "I think we're indeed in a moment where things are going to get a lot more tense before they get more peaceful," said the University of Michigan historian Heather Ann Thompson, who won the Pulitzer Prize for her 2016 book "Blood in the Water: The Attica Prison Uprising of 1971 and Its Legacy."

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These demonstrations were sparked by specific instances of police violence, but they also take place in a context of widespread health and economic devastation that's been disproportionately borne by people of color, especially those who are poor. "Sociologists have studied collective behavior, urban unrest for decades, and I think it's safe to say that the consensus view is that it's never just about a precipitating incident that resulted in the unrest," Darnell Hunt, dean of social sciences at U.C.L.A., told me. "It's always a collection of factors that make the situation ripe for collective behavior, unrest and mobilization."

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iehi-feed-65370 Fri, 29 May 2020 17:22:18 GMT Mortgage Forbearance Alert: 4.2 Million Mortgages In Forbearance http://implode-explode.com/viewnews/2020-05-29_MortgageForbearanceAlert42MillionMortgagesInForbearance.html iehi-feed-65369 Tue, 26 May 2020 16:43:03 GMT Florida Landlords Are Already Lining Up To Evict People http://implode-explode.com/viewnews/2020-05-26_FloridaLandlordsAreAlreadyLiningUpToEvictPeople.html iehi-feed-65368 Mon, 25 May 2020 16:37:15 GMT South Florida Home Sales Plummet In April As Recession Goes Into High Gear http://implode-explode.com/viewnews/2020-05-25_SouthFloridaHomeSalesPlummetInAprilAsRecessionGoesIntoHighGear.html iehi-feed-65367 Fri, 22 May 2020 14:11:19 GMT Mall Of America On The Verge Of Foreclosure http://implode-explode.com/viewnews/2020-05-22_MallOfAmericaOnTheVergeOfForeclosure.html iehi-feed-65366 Thu, 21 May 2020 16:51:42 GMT Landlord Warning! Don't Be A Victim Of Rental Application Fraud! http://implode-explode.com/viewnews/2020-05-21_LandlordWarningDontBeAVictimOfRentalApplicationFraud.html iehi-feed-65365 Thu, 21 May 2020 02:47:23 GMT 'Major reallocation shock' from coronavirus will see 42% of lost jobs evaporate, study says http://implode-explode.com/viewnews/2020-05-20_Majorreallocationshockfromcoronaviruswillsee42oflostjobsevaporat.html Permanent job losses are likely to be a feature of the eventual U.S. recovery, according to University of Chicago research, which estimates that 42% of recently unemployed workers will not return to their jobs amid the "profound" shock stemming from coronavirus lockdowns.

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researchers at the U of C's Becker Institute for Economics have painted a dour picture of the labor market reallocating those lost positions. Calling the crisis a "major reallocation shock" across all major economic sectors, the authors found that for every 10 coronavirus-induced job losses, only 3 were created.

Some employers -- primarily Amazon (AMZN) and Walmart (WMT) -- have hired en masse to deal with temporary demand spikes, yet the Chicago study suggests positions created during the COVID-19 crisis are unlikely to offset the labor market's extreme bloodletting.

The lockdowns have cratered activity in an economy that consists of 70% consumer spending, while undoing all of the jobs created since the great recession ended.

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Although the pandemic is perceived as a "one-off" event -- albeit a big one -- economists are warning the impending changes to the economy will result in long-term behavioral shifts, and likely to see mass bankruptcies.

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iehi-feed-65364 Tue, 19 May 2020 14:34:09 GMT Mortgage Servicer SLS Goes All Lord Humungus On MFI-Miami http://implode-explode.com/viewnews/2020-05-19_MortgageServicerSLSGoesAllLordHumungusOnMFIMiami.html iehi-feed-65362 Sun, 17 May 2020 17:51:51 GMT Rethinking Cities, Offices, WeWork, and More, After COVID-19 http://implode-explode.com/viewnews/2020-05-17_RethinkingCitiesOfficesWeWorkandMoreAfterCOVID19.html I don't think many smart and creative people will leave NYC becuase of Covid-19. I think Covid-19 made many smart and creative people realize that NYC is just not worth it.

Something in the cost-benefit analysis no longer makes sense. And not only because many people can work remotely. But also because the city itself no longer maintains its own side of the bargain.

Crime is going up. Public transport is deteriorating. Housing costs are skyrocketing due to lack of new supply, especially around existing public transport stations. The streets are less pleasant and less safe to walk in -- notwithstanding a few cool experiments that are pedestrian-friendly. And that's before Covid-19.

I am using NYC as an example but the same is true for many other cities in developed countries.

What I am trying ot say is: Cities can still be great and attractive, especially for smart and creative people who can live anywhere they like. But they have to step up their game. Saying that they're too old, or too big, or need more money is a poor excuse. If Tokyo can be clean, be safe, walkable, have reasonably-priced housing, and have incredible public transport -- so can New York. More on this, soon.

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iehi-feed-65361 Sun, 17 May 2020 17:13:08 GMT 'They are angry': Pandemic and economic collapse slam Trump across Rust Belt http://implode-explode.com/viewnews/2020-05-17_TheyareangryPandemicandeconomiccollapseslamTrumpacrossRustBelt.html iehi-feed-65360 Sun, 17 May 2020 16:59:53 GMT Restaurant COVID-19 Surcharge: Are Owners Trying To Cash In? http://implode-explode.com/viewnews/2020-05-17_RestaurantCOVID19SurchargeAreOwnersTryingToCashIn.html iehi-feed-65359 Fri, 15 May 2020 19:05:22 GMT Manhattan Faces a Reckoning if Working From Home Becomes the Norm http://implode-explode.com/viewnews/2020-05-15_ManhattanFacesaReckoningifWorkingFromHomeBecomestheNorm.html ... now, as the pandemic eases its grip, companies are considering not just how to safely bring back employees, but whether all of them need to come back at all. They were forced by the crisis to figure out how to function productively with workers operating from home -- and realized unexpectedly that it was not all bad.

If that's the case, they are now wondering whether it's worth continuing to spend as much money on Manhattan's exorbitant commercial rents. They are also mindful that public health considerations might make the packed workplaces of the recent past less viable.

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iehi-feed-65358 Thu, 14 May 2020 18:34:43 GMT Countrywide's America's Wholesale Lender Creating Title Issues Decades Later http://implode-explode.com/viewnews/2020-05-14_CountrywidesAmericasWholesaleLenderCreatingTitleIssuesDecadesLat.html iehi-feed-65357 Wed, 13 May 2020 17:19:15 GMT COVID-19 Mortgage Forbearance Alert: Mortgage Servicers Busted Again! http://implode-explode.com/viewnews/2020-05-13_COVID19MortgageForbearanceAlertMortgageServicersBustedAgain.html iehi-feed-65356 Wed, 13 May 2020 16:36:57 GMT Bankruptcy courts ill-prepared for tsunami of people going broke from coronavirus shutdown http://implode-explode.com/viewnews/2020-05-13_Bankruptcycourtsillpreparedfortsunamiofpeoplegoingbrokefromcoron.html iehi-feed-65355 Mon, 11 May 2020 22:19:01 GMT I've Seen Trump's Tax Returns and You Should, Too http://implode-explode.com/viewnews/2020-05-11_IveSeenTrumpsTaxReturnsandYouShouldToo.html Sometimes a tweet is just a tweet. And sometimes it's an advertisement for your business. And sometimes, when the president of the United States promotes his business on Twitter while overseeing the federal response to a pandemic gutting the economy, it's a financial conflict of interest.

Is Trump pushing businesses to reopen despite ongoing perils attached to the coronavirus because it's best for the country? Or is it because Covid-19 has battered his family's fortunes? Or is it simply because he has the upcoming presidential election in mind? Who knows. But we are more than three years into this presidency and the same questions that have hung over Trump from the moment he launched his bid for the White House still linger: What are the contours of his personal finances and how do they inform his actions and policies?

On Tuesday, the Supreme Court will help shape our understanding of some of this when it hears arguments involving efforts by Congress and a New York prosecutor to get access to Trump's tax returns, bank documents and bookkeeping records.

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Trump sued me for libel in 2006 for a biography I wrote, "TrumpNation," claiming the book unfairly and intentionally misrepresented his track record as a businessman and lowballed the size of his fortune. The suit was dismissed in 2011.

During the course of the litigation, Trump resisted releasing his tax returns and other financial records. My lawyers got the returns, and while I can't disclose specifics, I imagine that Trump is hesitant to release them now because they would reveal how robust his businesses actually are and shine a light on some of his foreign sources of income.

Deutsche Bank AG, one of the firms Trump's lawyers are trying to stifle in their arguments before the Supreme Court, also turned over documents in my case -- including its own assessment of Trump's wealth that pegged his fortune at $788 million in 2004, well below the $3 billion he told them he had at the time. Deutsche is the only major global bank to have continued doing business with Trump since the early 1990s and is conversant with his financial comings and goings since then.

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iehi-feed-65354 Mon, 11 May 2020 17:38:40 GMT Small Businesses Counting on Loan Forgiveness Could Be Stuck With Debt http://implode-explode.com/viewnews/2020-05-11_SmallBusinessesCountingonLoanForgivenessCouldBeStuckWithDebt.html With thousands of businesses preparing to ask for their eight-week loans to be forgiven, banks and borrowers are just now beginning to realize how complicated the program may turn out to be. Along with lawmakers, they are pushing the Treasury Department, which is overseeing the loan fund, to make forgiveness requirements easier to meet.

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"Virtually every small business borrower believes that this will be forgiven," said Paul Merski, a lobbyist for the Independent Community Bankers of America. "They took it out assuming that it would be a grant but it's not -- you have to abide by very complex rules and regulations on how this is spent."

One of the biggest stumbling blocks is a requirement that businesses allocate 75 percent of the loan money to cover payroll costs, with only 25 percent allowed for rent, utilities and other overhead. That has become more difficult as the economic crisis from the virus drags on and as some businesses face a prolonged period of depressed sales, even once they reopen.

Some businesses are facing smaller payroll expenses because workers have opted to accept more generous unemployment insurance benefits, while only a handful of states have so far allowed businesses to reopen.

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iehi-feed-65353 Mon, 11 May 2020 15:15:19 GMT Long Island Strip Club Owner Sues NYS And SBA Over Covid-19 Restrictions http://implode-explode.com/viewnews/2020-05-11_LongIslandStripClubOwnerSuesNYSAndSBAOverCovid19Restrictions.html