Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-60295 Mon, 25 Jul 2016 17:21:38 GMT IceCap Asks What Happens When The Bond Bubble Finally Pops http://implode-explode.com/viewnews/2016-07-25_IceCapAsksWhatHappensWhenTheBondBubbleFinallyPops.html iehi-feed-60294 Mon, 25 Jul 2016 17:18:13 GMT Leaked DNC emails reveal the inner workings of the party's finance operation http://implode-explode.com/viewnews/2016-07-25_LeakedDNCemailsrevealtheinnerworkingsofthepartysfinanceoperation.html iehi-feed-60293 Mon, 25 Jul 2016 15:25:01 GMT "Putin's Useful Idiots" = Anyone Who Disagrees With The Establishment http://implode-explode.com/viewnews/2016-07-25_PutinsUsefulIdiotsAnyoneWhoDisagreesWithTheEstablishment.html iehi-feed-60290 Mon, 25 Jul 2016 14:44:41 GMT Vindicating GATA, academic study says central banks rig markets with gold lending http://implode-explode.com/viewnews/2016-07-25_VindicatingGATAacademicstudysayscentralbanksrigmarketswithgoldle.html iehi-feed-60287 Sat, 23 Jul 2016 16:49:05 GMT Russian diplomacy aims to accelerate Syrian endgame; US Out of Options http://implode-explode.com/viewnews/2016-07-23_RussiandiplomacyaimstoaccelerateSyrianendgameUSOutofOptions.html Moscow estimates that Obama administration will somehow ride out the domestic criticism of Russian-American coordinated strategy to fight extremist groups in Syria. Indeed, Washington has run out of options in Syria and Moscow cannot be oblivious of that.

The Obama administration cannot afford to overlook the intelligence reports that Nusra Front, al-Qaeda's affiliate in Syria, is planning to attack targets in the West. Simply put, the Russian prognosis is coming true.

However, it is the failed coup in Turkey that becomes a god-sent opportunity for Russia to connect the dots and accelerate the endgame in Syria.

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iehi-feed-60285 Sat, 23 Jul 2016 14:48:35 GMT Are Wall Street Banks in Trouble? You'd Never Know from the Headlines http://implode-explode.com/viewnews/2016-07-23_AreWallStreetBanksinTroubleYoudNeverKnowfromtheHeadlines.html One would never know by these headlines that big bank earnings were actually down year over year -- and in some cases, down dramatically. JPMorgan Chase earned $6.2 billion in the second quarter of 2016 versus $6.29 billion in the second quarter of 2015.

The news was far worse at Citigroup, despite the rosy headline at CNBC. Citigroup's second quarter profit fell 17.5 percent year over year, to $4 billion from $4.85 billion in the second quarter of 2015. Its revenues were the lowest in 14 years according to S&P Capital IQ.

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Now news of jobs cuts is spilling out with the Wall Street Journal reporting that Bank of America will make "$5 billion in annual cost cuts by 2018 as part of its strategy to deal with persistently low interest rates that are eating away at lenders' profitability."

The New York Post is calling job cuts at Goldman Sachs the worst since the financial crisis in 2008. Fortune's Stephen Gandel reported two days ago that Goldman had slashed a whopping "1,700 positions in the past three months."

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iehi-feed-60275 Thu, 21 Jul 2016 23:08:09 GMT The Entire Market is Being Driven by a "Once in History" Asset Bubble About to Burst http://implode-explode.com/viewnews/2016-07-21_TheEntireMarketisBeingDrivenbyaOnceinHistoryAssetBubbleAbouttoBu.html iehi-feed-60267 Wed, 20 Jul 2016 22:34:55 GMT The financial system is breaking down at an unimaginable pace http://implode-explode.com/viewnews/2016-07-20_Thefinancialsystemisbreakingdownatanunimaginablepace.html iehi-feed-60265 Wed, 20 Jul 2016 15:46:38 GMT The world is taking its revenge against elites. When will America's wake up? http://implode-explode.com/viewnews/2016-07-20_TheworldistakingitsrevengeagainstelitesWhenwillAmericaswakeup.html iehi-feed-60263 Wed, 20 Jul 2016 13:57:28 GMT The 28 Pages that Damn Saudi Arabia http://implode-explode.com/viewnews/2016-07-20_The28PagesthatDamnSaudiArabia.html iehi-feed-60259 Tue, 19 Jul 2016 23:34:53 GMT Republican Party formally nominates Donald Trump http://implode-explode.com/viewnews/2016-07-19_RepublicanPartyformallynominatesDonaldTrump.html The New York delegation put Trump over the 1,237-delegate threshold necessary to claim the Republican Party's presidential nomination during a roll call vote on the floor of Cleveland's Quicken Loans Arena on Tuesday. Convention rules permitted the delegation from Trump's home state, which initially passed when called to announce its votes, to go out of order during the alphabetical roll call vote of states and territories.

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The anti-Trump effort also fell short one day earlier after party leaders upended a faction of delegates' move to hold a roll call vote to free delegates to vote their conscience instead of binding them to support a candidate based on the results of their states' primaries and caucuses. The failed attempt and ensuing chaos, which played out on national TV, further illustrated the disarray inside a fractured party at what was supposed to be its unifying convention.

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iehi-feed-60252 Tue, 19 Jul 2016 13:58:05 GMT Trump's Boswell Speaks http://implode-explode.com/viewnews/2016-07-19_TrumpsBoswellSpeaks.html Schwartz thought about publishing an article describing his reservations about Trump, but he hesitated, knowing that, since he'd cashed in on the flattering "Art of the Deal," his credibility and his motives would be seen as suspect. Yet watching the campaign was excruciating. Schwartz decided that if he kept mum and Trump was elected he'd never forgive himself. In June, he agreed to break his silence and give his first candid interview about the Trump he got to know while acting as his Boswell.

"I put lipstick on a pig," he said. "I feel a deep sense of remorse that I contributed to presenting Trump in a way that brought him wider attention and made him more appealing than he is." He went on, "I genuinely believe that if Trump wins and gets the nuclear codes there is an excellent possibility it will lead to the end of civilization."

If he were writing "The Art of the Deal" today, Schwartz said, it would be a very different book with a very different title. Asked what he would call it, he answered, "The Sociopath."

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Around this time [just before agreeing to write "The Art of the Deal"], Schwartz, who was one of the leading young magazine writers of the day, stopped by Trump's office, in Trump Tower. Schwartz had written about Trump before. In 1985, he'd published a piece in New York called "A Different Kind of Donald Trump Story," which portrayed him not as a brilliant mogul but as a ham-fisted thug who had unsuccessfully tried to evict rent-controlled and rent-stabilized tenants from a building that he had bought on Central Park South. Trump's efforts--which included a plan to house homeless people in the building in order to harass the tenants--became what Schwartz described as a "fugue of failure, a farce of fumbling and bumbling." An accompanying cover portrait depicted Trump as unshaven, unpleasant-looking, and shiny with sweat. Yet, to Schwartz's amazement, Trump loved the article. He hung the cover on a wall of his office, and sent a fan note to Schwartz, on his gold-embossed personal stationery. "Everybody seems to have read it," Trump enthused in the note, which Schwartz has kept.

"I was shocked," Schwartz told me. "Trump didn't fit any model of human being I'd ever met. He was obsessed with publicity, and he didn't care what you wrote." He went on, "Trump only takes two positions. Either you're a scummy loser, liar, whatever, or you're the greatest. I became the greatest. He wanted to be seen as a tough guy, and he loved being on the cover."

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iehi-feed-60243 Sun, 17 Jul 2016 18:32:02 GMT Hell Hath No Fury Like a Teflon Sultan http://implode-explode.com/viewnews/2016-07-17_HellHathNoFuryLikeaTeflonSultan.html Needless to add Ankara and Washington are now on a certified collision course... Hell hath no fury as an underestimated Sultan as well. For all his recent geopolitical follies, Erdogan's simultaneous ballet of reconnecting with Israel and Russia is eminently pragmatic. He knows he needs Russia for the Turkish Stream and to build nuclear plants; and he needs Israeli gas to consolidate Turkey's role as a key East-West energy crossroads.

When we learn, crucially, that Iran supported Turkey's "brave defense of democracy", as tweeted by Foreign Minister Zarif, it's clear how Erdogan, in a mater of only a few weeks, reconfigured the whole regional picture. And that spells out Eurasia integration and Turkey deeply connected to the New Silk Roads -- not NATO. No wonder the Beltway -- for whom, overwhelmingly, Erdogan is the proverbial "erratic and unreliable ally" -- is freaking out. That dream of Turkish colonels under direct CIA orders is over -- at least for the foreseeable future.

So what about Europe? Yildirim already said that Turkey might reinstate the death penalty -- to be applied to the coup plotters. This means, in essence, bye bye EU. And bye bye to the European Parliament approving visa-free travel for Turks visiting Europe. Erdogan after all already got what he wanted from chancellor Merkel; those 6 billion euros to contain the refugee crisis that he essentially unleashed. Merkel bet the farm on Erdogan. Now she's talking to herself -- while the Sultan is able to dial God on Face Time.

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iehi-feed-60227 Fri, 15 Jul 2016 19:26:22 GMT '28 pages': Congress releases report on alleged Saudi 9/11 ties http://implode-explode.com/viewnews/2016-07-15_28pagesCongressreleasesreportonallegedSaudi911ties.html The pages also say that the inquiry obtained information "indicating that Saudi Government officials in the United States may have other ties to al-Qa'ida and other terrorist groups," but the commission that authored them acknowledged that much of the info "remains speculative and yet to be independently verified."

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"It is going to increase the questioning of the Saudis' role supporting the hijackers," Graham told CNN. "I think of this almost as the 28 pages are sort of the cork in the wine bottle. And once it's out, hopefully the rest of the wine itself will start to pour out."

Graham added, "Would the U.S. government have kept information that was just speculation away from American people for 14 years if somebody didn't think it was going to make a difference?"

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iehi-feed-60225 Fri, 15 Jul 2016 15:10:46 GMT China's Q2 GDP Growth Stable at 6.7%, But Few Believe http://implode-explode.com/viewnews/2016-07-15_ChinasQ2GDPGrowthStableat67ButFewBelieve.html iehi-feed-60217 Thu, 14 Jul 2016 19:15:30 GMT The Mystery of Who Has Been Pushing Stocks to All-Time Highs Has Been Solved http://implode-explode.com/viewnews/2016-07-14_TheMysteryofWhoHasBeenPushingStockstoAllTimeHighsHasBeenSolved.html One conundrum stumping investors in recent months has been how, with investors pulling money out of equity funds (at last check for 17 consecutive weeks) at a pace that suggests a full-on flight to safety... are these same markets trading at all time highs? We now have the answer... Matt King reports "a surge in net global central bank asset purchases to their highest since 2013."

``... we remain deeply skeptical of the durability of such a policy-induced rally, unless there is a follow-through in terms of fundamentals, and in credit had already started to emphasize relative value over absolute, we suspect those with bearish longer-term inclinations may nevertheless feel now is not the time to position for them.''

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iehi-feed-60216 Thu, 14 Jul 2016 16:33:20 GMT Helicopter Money----The Biggest Fed Power Grab Yet | Stockman http://implode-explode.com/viewnews/2016-07-14_HelicopterMoneyTheBiggestFedPowerGrabYetStockman.html iehi-feed-60209 Wed, 13 Jul 2016 22:42:41 GMT Likely hack of U.S. banking regulator (FDIC) by China covered up http://implode-explode.com/viewnews/2016-07-13_LikelyhackofUSbankingregulatorFDICbyChinacoveredup.html The Chinese government likely hacked computers at the Federal Deposit Insurance Corporation in 2010, 2011 and 2013 and employees at the U.S. banking regulator covered up the intrusions, according to a congressional report on Wednesday.

The report cited an internal FDIC investigation as identifying Beijing as the likely perpetrator of the attacks, which the probe said were covered up to protect the job of FDIC Chairman Martin Gruenberg, who was nominated for his post in 2011.

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But a source familiar with the FDIC's internal investigation said the areas of the regulator's network that were hacked suggested the intruders were seeking "economic intelligence."

In all, hackers compromised 12 FDIC workstations, including those of other executives such as the regulator's former chief of staff and former general counsel, and 10 servers, the congressional report said.

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iehi-feed-60204 Wed, 13 Jul 2016 14:01:49 GMT Macquarie: States and Central Banks Establishing State-Sponsored Anti-Markets in Attempt To End-Run Around Failing Markets http://implode-explode.com/viewnews/2016-07-13_MacquarieStatesandCentralBanksEstablishingStateSponsoredAntiMark.html Monetary policy is beating a path to a world where conventional market signals such as credit spreads and the price of risk will "finally perish" and be unseated by one where states are the drivers of credit, and spending and capital formation is the domain of central banks.

"It would take the form of state-sponsored stimulation of consumption, investment, [research and development] and rescuing what essentially is a bankrupt financial superstructure (ie banks, insurance, life and pensions)," the Macquarie report, authored by Hong Kong-based analyst Viktor Shvets, said. "Whilst similar to FDR's New Deal, it would be a far more distorted world than either the 1930s or the 1960s-70s, with brand new investment signals."''

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The contradiction that Macquarie is referring to is the way markets have behaved since Brexit, where assets historically linked to "risk-on" and "risk-off" moods have inexplicably rallied in unison. Equities, a classic risk asset, have recovered all of their losses since the Brexit vote on the belief that central banks will step in and lift asset prices by doing stimulus and ignore sound fears about asset bubbles.

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As for the average investor thinking about where to put their money, Macquarie says mean reversion strategies -- where someone buys a stock in the hope that it will return to what it used to be worth -- will not work in a world without a classic business cycle and proper signals. Macro strategy investing is equally impossible until the new world of state-sponsored growth is here.

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iehi-feed-60201 Wed, 13 Jul 2016 01:08:23 GMT Some disturbing figures about the upcoming banking crisis http://implode-explode.com/viewnews/2016-07-12_Somedisturbingfiguresabouttheupcomingbankingcrisis.html