Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-63892 Tue, 24 Apr 2018 15:42:24 GMT Foreclosure Defense Attorney Mark Stopa Fights To Keep Bar License http://implode-explode.com/viewnews/2018-04-24_ForeclosureDefenseAttorneyMarkStopaFightsToKeepBarLicense.html iehi-feed-63891 Tue, 24 Apr 2018 00:44:24 GMT Tax Changes Mean Mortgage-Interest Deduction To Find Fewer Takers http://implode-explode.com/viewnews/2018-04-23_TaxChangesMeanMortgageInterestDeductionToFindFewerTakers.html The resulting home mortgage-interest deduction -- once considered a tax break too sacred to touch -- will be used by just 13.8 million taxpayers, down 57%. In 2017, about 12.4% of the tax break went to households with incomes exceeding $500,000, and 36.5% of the benefit went to people earning between $100,000 and $200,000.

Now, 23.9% of the shrunken mortgage-interest deduction is projected to go to households making more than $500,000 with 28.9% of the benefit going to households between $100,000 and $200,000.

Other changes in policy also curb the mortgage-interest deduction, including the cut in marginal tax rates, which reduces the value of every deduction. Homeowners can now deduct interest on up to $750,000 in loans, down from $1m...

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iehi-feed-63890 Tue, 24 Apr 2018 00:19:30 GMT Sean Hannity Cashes In! Pockets Millions Of Dollars From Your Misery http://implode-explode.com/viewnews/2018-04-23_SeanHannityCashesInPocketsMillionsOfDollarsFromYourMisery.html iehi-feed-63889 Sun, 22 Apr 2018 17:28:11 GMT Actress Allison Mack Indicted In NY Sex Cult Pyramid Scheme http://implode-explode.com/viewnews/2018-04-22_ActressAllisonMackIndictedInNYSexCultPyramidScheme.html iehi-feed-63888 Sun, 22 Apr 2018 17:07:52 GMT The Pension Time Bomb, $400 Trillion by 2050 http://implode-explode.com/viewnews/2018-04-22_ThePensionTimeBomb400Trillionby2050.html According to an analysis by the World Economic Forum (WEF), there was a combined retirement savings gap in excess of $70 trillion in 2015, spread between eight major economies..

The WEF says the deficit is growing by $28 billion every 24 hours -- and if nothing is done to slow the growth rate, the deficit will reach $400 trillion by 2050, or about five times the size of the global economy today.

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This problem is amplified by the size of generations and fertility rates. The population of retirees globally is expected to grow from 1.5 billion to 2.1 billion between 2017-2050, while the number of workers for each retiree is expected to halve from eight to four over the same timeframe.

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iehi-feed-63887 Sat, 21 Apr 2018 14:46:09 GMT Suntrust Hacker Steals Information On 1.5 Million Suntrust Customers http://implode-explode.com/viewnews/2018-04-21_SuntrustHackerStealsInformationOn15MillionSuntrustCustomers.html iehi-feed-63886 Fri, 20 Apr 2018 12:56:33 GMT Al Capone's Miami Beach Mansion Hits The Market For $15 Million http://implode-explode.com/viewnews/2018-04-20_AlCaponesMiamiBeachMansionHitsTheMarketFor15Million.html iehi-feed-63885 Fri, 20 Apr 2018 05:18:24 GMT Wells Fargo will be fined $1 billion http://implode-explode.com/viewnews/2018-04-20_WellsFargowillbefined1billion.html Two federal regulators are close to fining Wells Fargo $1 billion for forcing customers into car insurance and charging mortgage borrowers unfair fees.

The hefty penalty will be announced as early as Friday by the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency, according to a person familiar with the enforcement action.

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Such a large fine would be a noteworthy move for the CFPB under Mick Mulvaney, the acting director appointed by President Trump.

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iehi-feed-63884 Thu, 19 Apr 2018 15:09:09 GMT Manhattan Residential Property Listing Prices Plummet By 10.9% http://implode-explode.com/viewnews/2018-04-19_ManhattanResidentialPropertyListingPricesPlummetBy109.html iehi-feed-63883 Thu, 19 Apr 2018 04:18:05 GMT Pharma bro Shkreli, denied minimum security camp, gets sent to federal prison in New Jersey http://implode-explode.com/viewnews/2018-04-19_PharmabroShkrelideniedminimumsecuritycampgetssenttofederalprison.html Shkreli, 35, in March had asked to be sent to the minimum-security camp adjacent to another federal prison in Pennsylvania, FCI Canaan. His sentencing judge endorsed that request. But the Bureau of Prisons has the last word in determining where to place its inmates.

[Shkreli's lawyer] Brafman previously said that Judge Kiyo Matsumoto's ruling last September that Shkreli was a public danger would prevent him from being sent to a minimum-security camp because of BOP guidelines.

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Matsumoto had said Shkreli was a danger as she revoked his bail for, among other things, his bizarre offer toFacebook followers of $5,000 for each strand of hair they managed to pull off the head of Hillary Clinton, who at the time was in the midst of a book tour.''

So basically he got himself sent to federal prison instead of camping by being a dick (totally superfluously -- Hillary Clinton didn't even have anything to do with his case, as unsavory as she might be).

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iehi-feed-63882 Thu, 19 Apr 2018 00:09:45 GMT World debt hits record $164 trillion as crisis hangover lingers http://implode-explode.com/viewnews/2018-04-18_Worlddebthitsrecord164trillionascrisishangoverlingers.html The world's debt load has ballooned to a record $164 trillion, a trend that could make it harder for countries to respond to the next recession and pay off debts if financing conditions tighten, the International Monetary Fund said.

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The global debt burden clouded the IMF's otherwise upbeat outlook of the world economy, which is in its strongest upswing since 2011. The fund on Tuesday forecast expansion of 3.9 per cent in 2018 and 2019, while saying in subsequent years the global economy could be impacted by tighter monetary policy and the fading effects of U.S. fiscal stimulus.

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The IMF figures bare the scale of the debt hangover from which the world is still recovering from a decade after the financial crisis pushed the global banking system to the brink, and tipped the world economy into recession. Governments increased spending to boost growth, while central banks resorted to unconventional methods to ease financing conditions, such as buying bonds.

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iehi-feed-63881 Wed, 18 Apr 2018 23:44:43 GMT UK government loses key Brexit Vote: Stuck with the Customs Union http://implode-explode.com/viewnews/2018-04-18_UKgovernmentloseskeyBrexitVoteStuckwiththeCustomsUnion.html iehi-feed-63880 Wed, 18 Apr 2018 19:30:17 GMT U.S. Debt Load Seen Worse Than Italy's by 2023, IMF Predicts http://implode-explode.com/viewnews/2018-04-18_USDebtLoadSeenWorseThanItalysby2023IMFPredicts.html iehi-feed-63879 Wed, 18 Apr 2018 19:27:26 GMT Bon-Ton Stores closing: See list of Boston Store, Carson's, Younkers http://implode-explode.com/viewnews/2018-04-18_BonTonStoresclosingSeelistofBostonStoreCarsonsYounkers.html Bon-Ton Stores, the corporate parent of several department store chains, has agreed to sell its assets to a group of debtholders and liquidators, likely setting the stage for going-out-of-business sales to start imminently.

The York, Pa.-based company's brands include Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers.

Although it's not official yet, chances are high that all the locations will close. It's still possible the brands could live on in some fashion, such as online-only outlets under new ownership.

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Bon-Ton's approximately 250 locations are scattered throughout 23 states in the Midwest, Northeast and upper Great Plains.

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iehi-feed-63878 Wed, 18 Apr 2018 19:26:30 GMT US crude tops $68 for the first time in more than three years http://implode-explode.com/viewnews/2018-04-18_UScrudetops68forthefirsttimeinmorethanthreeyears.html iehi-feed-63877 Wed, 18 Apr 2018 16:11:54 GMT Apparent Quicken Loans Fraud Costs Single Dad With 4 Kids His Home http://implode-explode.com/viewnews/2018-04-18_ApparentQuickenLoansFraudCostsSingleDadWith4KidsHisHome.html iehi-feed-63876 Tue, 17 Apr 2018 15:05:21 GMT Tesla's Cash Crunch Will Intensify As Model 3 Production Shuts Down Again http://implode-explode.com/viewnews/2018-04-17_TeslasCashCrunchWillIntensifyAsModel3ProductionShutsDownAgain.html Bizarrely, Tesla issued a statement regarding this shutdown of Model 3 production that echoed word-for-word a statement given in late-February when Tesla reportedly shut the Model 3 line for 5 days. Tesla's statement indicated that such a shutdown "is not unusual," but, Tom Jones references aside, it really is unusual for an automaker to post two lengthy shutdowns in such a short period...

When I followed major automakers like VW, Ford, GM and Daimler, a one-week shutdown on high-volume model would be enough to merit a mention on a quarterly earnings call.  At Tesla, where the Model 3 is being counted on to be both the next step in the future of automotive mobility and the model that gets Tesla over the hump from a cash flow perspective, this latest shutdown could be catastrophic.

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iehi-feed-63875 Mon, 16 Apr 2018 21:39:38 GMT Hannity-Cohen-Trump: Conflict of Interest in Pro-Trump Media, Much? http://implode-explode.com/viewnews/2018-04-16_HannityCohenTrumpConflictofInterestinProTrumpMediaMuch.html While his off-air relationships might be just a logical extension of Hannity's on-air cheerleading for Trump, it still came as a surprise, immediately raising questions about both Hannity and Fox.

By any standards of any normal newsroom, the Cohen-Hannity relationship is a glaring conflict of interest.

Fox is not a normal newsroom. And Hannity's viewers are not typical news viewers -- people who watch almost any other show would likely feel lied to when they learned something like this had not been disclosed to them, but Hannity's want him to have this kind of relationship with Trumpworld.

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"I never retained him in the traditional sense as retaining a lawyer; I never received an invoice from Michael; I never paid legal fees to Michael, but I have, occasionally, had brief discussions with him about legal questions about which I wanted his input and perspective," Hannity said on the radio.

But even according to Hannity's account, he was taking free legal advice from someone on the president's payroll.

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iehi-feed-63874 Mon, 16 Apr 2018 18:54:09 GMT Former Soup Nazi CFO Sentenced To 9 Months In Prison http://implode-explode.com/viewnews/2018-04-16_FormerSoupNaziCFOSentencedTo9MonthsInPrison.html iehi-feed-63873 Mon, 16 Apr 2018 15:45:52 GMT Commerce Blocks China's ZTE From Exporting Sensitive Tech From U.S. http://implode-explode.com/viewnews/2018-04-16_CommerceBlocksChinasZTEFromExportingSensitiveTechFromUS.html The U.S. blocked Chinese telecommunications-gear maker ZTE Corp. from exporting sensitive technology from America, alleging the company made false statements to U.S. officials.

The Commerce Department has determined ZTE made false statements to the Bureau of Industry and Security in 2016 and 2017 related to "senior employee disciplinary actions the company said it was taking or had already taken," the department said in a statement Monday.

ZTE did not disclose the fact it paid full bonuses to employees who engaged in illegal conduct, and failed to issue letters of reprimand, the department said.

"ZTE misled the Department of Commerce. Instead of reprimanding ZTE staff and senior management, ZTE rewarded them. This egregious behavior cannot be ignored," Commerce Secretary Wilbur Ross said in the statement.

The denial order against ZTE comes amid brewing tensions between the U.S. and China that have raised concerns of a trade war between the world's two biggest economies. President Donald Trump has threatened tariffs on $150 billion in Chinese imports in retaliation for alleged violations of intellectual property rights, while Beijing has vowed to retaliate on everything from American soybeans to planes.

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