Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-64307 Thu, 18 Oct 2018 23:07:01 GMT Trump May Have Intervened in FBI HQ Decision To Protect His Hotel http://implode-explode.com/viewnews/2018-10-18_TrumpMayHaveIntervenedinFBIHQDecisionToProtectHisHotel.html iehi-feed-64306 Thu, 18 Oct 2018 23:00:57 GMT Trump's Name Is Removed From Another New York Building http://implode-explode.com/viewnews/2018-10-18_TrumpsNameIsRemovedFromAnotherNewYorkBuilding.html Another Trump-branded building will pry President Donald Trump's name off its facade following a vote by condo residents, who cited antipathy, security risks and reduced property values.

A 46-story tower at 200 Riverside Blvd. on Manhattan's Upper West Side will remove the giant brass "TRUMP PLACE" letters on Thursday, The New York Times reported.

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Nearly 70 percent of the condo owners voted this fall to remove Trump's name, despite the estimated $23,000 cost to pry off the letters and clean the facade, the Times reported. Residents first voted to remove the name shortly after Trump's 2017 inauguration.

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iehi-feed-64305 Thu, 18 Oct 2018 22:50:28 GMT Justice Department asks Supreme Court to toss kids' climate change lawsuit http://implode-explode.com/viewnews/2018-10-18_JusticeDepartmentasksSupremeCourttotosskidsclimatechangelawsuit.html The suit was filed in 2015 by a group of young people, ranging in age from 10 to 21, who said the federal government has failed to stop climate change by promoting the use of fossil fuels for more than 50 years. They claim that policy violated their constitutional right to "a climate system capable of sustaining human life."

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They seek sharp reductions in carbon dioxide emissions and a national plan for restoring the earth's energy balance. Despite repeated efforts by the federal government -- under both the Obama and Trump administrations -- to get the lawsuit tossed out, lower courts have allowed it to go forward. It is now set for 50 days of what the plaintiffs call the trial of the century, beginning October 29 in Oregon.

Solicitor General Noel Francisco said by allowing the case to proceed to trial, the judge overseeing the case wrongly found in favor of the young people's claim that they have a right to certain climate conditions.

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In July, the Supreme Court declined a similar request from the government to put the case on hold but called the breadth of the lawsuit's claims "striking" and said it's debatable whether the courts have the authority to entertain them.

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iehi-feed-64304 Thu, 18 Oct 2018 19:46:31 GMT Fed points to more rate hikes amid criticism from Trump http://implode-explode.com/viewnews/2018-10-18_FedpointstomoreratehikesamidcriticismfromTrump.html Federal Reserve officials remain convinced that continuing to gradually increase interest rates is the best formula to preserve a steady economy, according to minutes released Wednesday of the central bank's most recent policy meeting. That may not please President Donald Trump, who has been vocal in his criticism of the central bank's actions.

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Another development from the last meeting saw the committee remove the word "accommodative" from its description of the future policy path. In a post-meeting news conference, Powell told reporters not to read too much into the move, but the minutes provided more detail on why the FOMC decided to change the language.

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iehi-feed-64303 Thu, 18 Oct 2018 15:12:16 GMT Ponzi Schemer Used Voodoo To Protect Herself From Investigators http://implode-explode.com/viewnews/2018-10-18_PonziSchemerUsedVoodooToProtectHerselfFromInvestigators.html iehi-feed-64302 Thu, 18 Oct 2018 01:42:17 GMT Bond Market Rout Just Wiped Out $1 Trillion From Investors http://implode-explode.com/viewnews/2018-10-17_BondMarketRoutJustWipedOut1TrillionFromInvestors.html iehi-feed-64301 Thu, 18 Oct 2018 00:39:30 GMT FBI looking at Manhattan DA over potential corrupt quid pro quos (INCL. TRUMP KIDZ' CASE) http://implode-explode.com/viewnews/2018-10-17_FBIlookingatManhattanDAoverpotentialcorruptquidproquosINCLTRUMPK.html In another case, the DA also failed to bring criminal charges against two of President Trump's children in an alleged real estate scam. Vance's office cleared daughter Ivanka Trump and son Donald Trump Jr., who were being looked at for allegedly defrauding Trump SoHo investors and would-be buyers by lying about the number of condos that had been sold.

In 2012, Vance met with an attorney for the pair, Marc Kasowitz, who had previously given him $25,000. An additional $32,000 was donated after the office declined to prosecute Ivanka and Trump Jr.

Vance returned Kasowitz's first installment prior to the sit-down. He gave back the second sum of cash in October 2017 after he was criticized for not going forward, and for taking the lawyer's money.

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iehi-feed-64300 Wed, 17 Oct 2018 20:06:58 GMT Trump to ask for Across-the-Board 5% Spending Cut; Still Touts Tax Cuts and Hiked Military Spending http://implode-explode.com/viewnews/2018-10-17_TrumptoaskforAcrosstheBoard5SpendingCutStillToutsTaxCutsandHiked.html ``. After approving the $1.3 trillion budget plan Congress sent him in March, Trump threatened he will "never sign another bill like this again."

Trump's ask comes as the Treasury Department reports that the federal budget deficit rose this year to $779 billion. That amounts to a 17 percent increase over the previous year, and is the highest deficit in six years.

Trump has previously called for deep, double-digit percentage reductions for some federal departments that were rejected by Congress. His first proposed budget last year included the complete elimination of 62 agencies, which lawmakers ignored.

More: The national debt and the federal deficit are skyrocketing. How it affects you

But the president has also come under fire on two fronts recently: Conservatives have grown increasingly restive about budget deficits, an issue that has received far less attention from Republicans lately than it did during the Obama administration.

Trump has also blamed Democrats in Congress for seeking increased spending on domestic programs in exchange for Trump's desire to build up the military. Unwilling to threaten a shutdown before the midterm election, Trump has indicated in recent weeks that he felt compelled to go along with spending bills to secure his desired increases for the Pentagon.

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Earlier this week, Treasury Secretary Steven Mnuchin suggested that the rising deficit was the "dire consequences of irresponsible and unnecessary spending."

But a report from the nonpartisan Congressional Budget Office, released earlier this month, said tax cuts Congress approved last year partially led to the deficit jump.

Budget analysts said Trump's demand is very unlikely, and would have little impact on the budget deficit in any event.

Stan Collender, a professor of public policy at Georgetown University, said if you cut the entire annual federal budget by 5%, it would be only $200 billion to $300 billion -- and the federal budget deficit for next year is projected at $1.1 trillion.

Trump has bragged about his defense hikes, and presumably isn't interested in cutting that budget, Collender noted. And he hasn't said anything about reducing the real drivers of federal spending, entitlement spending like Social Security and Medicare.

"This really shows Trump is not ready is not ready for prime time," Collender said.

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iehi-feed-64299 Wed, 17 Oct 2018 19:35:15 GMT Red Neck Sex Offender Convicted In Planned Bombing Spree Of Target Stores http://implode-explode.com/viewnews/2018-10-17_RedNeckSexOffenderConvictedInPlannedBombingSpreeOfTargetStores.html iehi-feed-64298 Wed, 17 Oct 2018 14:00:42 GMT Canada Makes Marijuana Legal, and a National Experiment Begins http://implode-explode.com/viewnews/2018-10-17_CanadaMakesMarijuanaLegalandaNationalExperimentBegins.html Canada on Wednesday became the first major world economy to legalize recreational marijuana use, beginning a national experiment that will alter the country's social, cultural and economic fabric, and present the nation with its biggest public policy challenge in decades... Canada is only the second country in the world, after Uruguay, to legalize it.

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Under Canada's new federal cannabis act, adults will be allowed to possess, carry and share with other adults up to 30 grams of dried cannabis, enough to roll roughly 60 regular-size joints. They will also be permitted a maximum of four homegrown marijuana plants per household.

Marijuana for medical purposes has been legal in Canada since 2001, and about 330,000 Canadians, including cancer patients, are registered to receive it from licensed producers.

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To ensure that prices remain competitive with the black market, one gram of cannabis can be purchased for as low as about $4, or $5.25 Canadian dollars.

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As with cigarettes, the cannabis is clearly marked with health warnings like "One in eleven people who use cannabis will become addicted."

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The government's stated rationale for legalizing cannabis is to tame an illegal trade estimated at $6.2 billion. But from Toronto to Winnipeg to Vancouver, hundreds of illegal shops have indicated they have no intention of shutting down, and the black market supply chain remains deeply entrenched.

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iehi-feed-64297 Tue, 16 Oct 2018 15:29:17 GMT Why New York Has So Many Empty Storefronts http://implode-explode.com/viewnews/2018-10-16_WhyNewYorkHasSoManyEmptyStorefronts.html Separate surveys by Douglas Elliman, a real-estate company, and Morgan Stanley determined that at least 20 percent of Manhattan's street retail is vacant or about to become vacant... From 2010 to 2014, commercial rents in the most-trafficked Manhattan shopping corridors soared by 89 percent, according to ­CBRE Group, a large real-estate and investment firm. But retail sales rose by just 32 percent. In other words, commercial rents have ascended to an altitude where small businesses cannot breathe.

... the 2018 landlord waiting game is denuding New York of its particularity and turning the city into a high-density simulacrum of the American suburb. The West Village landlords hoping to lease their spaces to national chains are turning one of America's most famous neighborhoods into a labyrinthine strip mall. Their strategy bodes the disappearance of those quirky restaurants, curious antique shops, and any coffee shops that aren't publicly traded on the NYSE.

In Jane Jacobs's famous vision of New York, the city ideally served as a playful laboratory, which nursed new firms and ideas and exported its blessedly strange culture to the world. Today's New York is the opposite: a net importer of the un-weird, so desperate to bring in national chains to pay exorbitant leases that landlords are willing to sit on barren blocks.

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iehi-feed-64296 Tue, 16 Oct 2018 15:06:29 GMT Nationstar Executive Admits Aurora Bank Forged Note Endorsements http://implode-explode.com/viewnews/2018-10-16_NationstarExecutiveAdmitsAuroraBankForgedNoteEndorsements.html iehi-feed-64295 Tue, 16 Oct 2018 01:33:08 GMT The Great American Health Care Panic http://implode-explode.com/viewnews/2018-10-15_TheGreatAmericanHealthCarePanic.html iehi-feed-64294 Mon, 15 Oct 2018 22:29:39 GMT Stocks fall, led by tech, as Wall Street fails to bounce back from last week's rout http://implode-explode.com/viewnews/2018-10-15_StocksfallledbytechasWallStreetfailstobouncebackfromlastweeksrou.html iehi-feed-64293 Mon, 15 Oct 2018 15:36:33 GMT 1 Trick Pony: Without Corporate Buybacks, Market Plunges http://implode-explode.com/viewnews/2018-10-15_1TrickPonyWithoutCorporateBuybacksMarketPlunges.html To avoid tripping insider trading rules, companies typically avoid buyback shares during the two weeks prior to reporting earnings. Last week's market storm -- the Nasdaq's worst week since March -- occurred during the darkest part of these so-called "blackout" windows.

"Right now, we're pretty much at a trough in corporate liquidity," said Keith Parker, head of US equity strategy at UBS.

Parker said that previous market tailspins, including the scary sell-offs in February as well as the one in April, coincided with buyback blackouts. "Almost to the day," he said.

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iehi-feed-64292 Mon, 15 Oct 2018 15:32:04 GMT Beware! Fed Will Continue To Suck Until Something Implodes | The Wall Street Examiner http://implode-explode.com/viewnews/2018-10-15_BewareFedWillContinueToSuckUntilSomethingImplodesTheWallStreetEx.html iehi-feed-64291 Mon, 15 Oct 2018 13:41:21 GMT Foreclosed Homes Appreciating Faster than Typical Home http://implode-explode.com/viewnews/2018-10-15_ForeclosedHomesAppreciatingFasterthanTypicalHome.html iehi-feed-64290 Sun, 14 Oct 2018 19:58:57 GMT Gundlach says the global stock market is signaling 'something bad' is happening http://implode-explode.com/viewnews/2018-10-14_Gundlachsaystheglobalstockmarketissignalingsomethingbadishappeni.html iehi-feed-64289 Sun, 14 Oct 2018 19:39:43 GMT GOP Candidate Bill Schuette Has Campaign Stunt Blows Up In His Face http://implode-explode.com/viewnews/2018-10-14_GOPCandidateBillSchuetteHasCampaignStuntBlowsUpInHisFace.html iehi-feed-64288 Sun, 14 Oct 2018 19:07:00 GMT Why Entrepreneurs Will Turn To The Crowd For Funding http://implode-explode.com/viewnews/2018-10-14_WhyEntrepreneursWillTurnToTheCrowdForFunding.html ``More investors are participating in funding rounds, and per equity crowdfunding regulations, those shares and debt agreements can actually be traded on public secondary markets (pending at most a one-year lock up period). The larger the investment community participating in these seed rounds, the greater the secondary market for those rounds. Investors no longer have their money locked up in a startup for 5-10 years as they wait for that startup to either be acquired in an M&A or to go public via an IPO. They can trade their investment for profit or loss much sooner than was possible before. With that liquidity, there is what is known as a "liquidity premium."

Investors are willing to pay more for liquid asset because they are safer investments (investors can get out quicker). There's also a psychological element to it. People are averse to risk, and long-term holding is risky. Traditionally, with these types of assets, there is an illiquidity discount in today's market, in which you may invest $40,000 in a startup, but you may have to give anywhere between a 20-30% discount off your investment to get another accredited investor interested enough to buy your shares.

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