Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-65376 Thu, 04 Jun 2020 19:22:56 GMT Plummeting New York Real Estate Values Cause Escape From New York http://implode-explode.com/viewnews/2020-06-04_PlummetingNewYorkRealEstateValuesCauseEscapeFromNewYork.html iehi-feed-65375 Thu, 04 Jun 2020 15:26:59 GMT Western Union Wants To Acquire MoneyGram International http://implode-explode.com/viewnews/2020-06-04_WesternUnionWantsToAcquireMoneyGramInternational.html iehi-feed-65374 Wed, 03 Jun 2020 20:59:55 GMT Trump's Invocation of Occupy Wall Street In Call To Governors Misses ALL The Points http://implode-explode.com/viewnews/2020-06-03_TrumpsInvocationofOccupyWallStreetInCallToGovernorsMissesALLTheP.html In the call with Governors, Trump invoked the Occupy Wall Street movement... This is the mind of the President of the free world. Protesters attempting to realign their corrupted democracy while braving snow and ice living in tents on the sidewalks of lower Manhattan (following the greatest bank looting in U.S. history by Wall Street executives) have committed the ultimate crime of getting free pizza delivery.

As most Americans now realize, the President regularly relies on "alternative facts" to make his arguments. Wall Street On Parade covered the Occupy Wall Street protests. Wall Street was not "closed up" and there was no "total domination" of Wall Street. The stock exchange traded every single business day. Wall Street banks went merrily about their business of ripping off two-thirds of average folks 401(k) plans. Local residents came and went on the sidewalks, often delivering home-made meals to the protesters.

The protesters were not "there forever." The occupation of Zuccotti Park by Occupy Wall Street lasted from September 17, 2011 to November 15, 2011. Two months of peaceful protest. The brutal military-style raid and destruction of the protesters' camp left a lasting stain on the reputation of New York City and Mayor Michael Bloomberg.

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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