Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-57604 Sun, 30 Aug 2015 23:17:16 GMT Fed Minutes Are Minutia Except For One Critically Important, Widely Ignored Detail - The Wall Street Examiner http://implode-explode.com/viewnews/2015-08-30_FedMinutesAreMinutiaExceptForOneCriticallyImportantWidelyIgnored.html iehi-feed-57603 Sun, 30 Aug 2015 22:53:39 GMT NYSE Margin Debt Downturn May Herald End of Bull http://implode-explode.com/viewnews/2015-08-30_NYSEMarginDebtDownturnMayHeraldEndofBull.html iehi-feed-57602 Sun, 30 Aug 2015 22:44:49 GMT China is in a serious bind but this is not yet a 'Lehman' moment http://implode-explode.com/viewnews/2015-08-30_ChinaisinaseriousbindbutthisisnotyetaLehmanmoment.html My own view - with low conviction, as they say in the hedge fund world - is that China will weather this immediate storm, though with difficulty. Fiscal spending is growing at 13pc again. There is already enough juice in the pipeline to flatter growth for a few more months. The housing maket is coming back from the dead. Services are growing at a 10pc pace.

Another stop-go cycle is picking up. Each time it is weaker, but it is still enough to delay the denouement until next year, and next year is an epoch away in market time.

Watch the offshore exchange rate for the renminbi. If that keeps spiraling further away from the inland rate, we will know that matters are out of hand, and then we really will have a global currency crisis. We are not there yet.

Interesting opinion, though we note that in brushing off the probability of a market crash (following on what started in the last couple weeks), AEP ignores the de-leveraging effect of a Fed rate rise (funny because he simultaneously says the US economy is "picking up steam")

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iehi-feed-57601 Sun, 30 Aug 2015 22:18:50 GMT Investors are dumping stocks like it's 2007 (OR WORSE) http://implode-explode.com/viewnews/2015-08-30_Investorsaredumpingstockslikeits2007ORWORSE.html iehi-feed-57599 Sun, 30 Aug 2015 11:27:58 GMT Why we need to lie to ourselves about the state of the economy http://implode-explode.com/viewnews/2015-08-30_Whyweneedtolietoourselvesaboutthestateoftheeconomy.html Over the last 35 years, the economic growth necessary to increase living standards, increase wealth and manage growing inequality has been based increasingly on rising borrowings and financial rather than real engineering. There was reliance on debt-driven consumption. It resulted in global trade and investment imbalances, such as that between China and the US or Germany and the rest of Europe. 

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The 2008 global financial crisis was a warning of the unstable nature of these arrangements. But there has been no meaningful change. Since 2007, global debt has grown by US$57 trillion, or 17 per cent of the world's gross domestic product. In many countries, debt has reached unsustainable levels, and it is unclear how or when it is to be reduced without defaults that would wipe out large amounts of savings.

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For most people, the effect of these problems is unemployment, reduced job security, the deskilling of many professions and stagnant incomes. Home ownership is increasingly out of reach for many. Retirement may become a luxury for all but a few, reflecting increasing difficulty in building sufficient savings. In effect, living standards will decline. Future generations will bear the bulk of the cost as they are left to tackle the unresolved problems of their forebears.

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iehi-feed-57598 Sun, 30 Aug 2015 11:26:00 GMT Despite Being A 'Pet Rock', The Premium For Physical Bullion Is Exploding http://implode-explode.com/viewnews/2015-08-30_DespiteBeingAPetRockThePremiumForPhysicalBullionIsExploding.html iehi-feed-57597 Sun, 30 Aug 2015 11:22:42 GMT Mass Protests Sweep Malaysian Capital As Anger At Goldman-Backed Slush Fund Boils Over http://implode-explode.com/viewnews/2015-08-30_MassProtestsSweepMalaysianCapitalAsAngerAtGoldmanBackedSlushFund.html iehi-feed-57596 Sun, 30 Aug 2015 11:19:31 GMT Fed, ECB, BOE Officials All Say They See Inflation Rising http://implode-explode.com/viewnews/2015-08-30_FedECBBOEOfficialsAllSayTheySeeInflationRising.html iehi-feed-57595 Sun, 30 Aug 2015 11:16:11 GMT Central banks can't save the markets from a crash. They shouldn't even try http://implode-explode.com/viewnews/2015-08-30_CentralbankscantsavethemarketsfromacrashTheyshouldnteventry.html iehi-feed-57594 Sun, 30 Aug 2015 11:12:16 GMT As tragedies shock Europe, a bigger refugee crisis looms in the Middle East http://implode-explode.com/viewnews/2015-08-30_AstragediesshockEuropeabiggerrefugeecrisisloomsintheMiddleEast.html Those reaching Europe represent a small percentage of the 4 million Syrians who have fled into Lebanon, Jordan, Turkey and Iraq, making Syria the biggest single source of refugees in the world and the worst humanitarian emergency in more than four decades.

As the fighting grinds into a fifth year, the realization is dawning on aid agencies, the countries hosting the refugees and the Syrians themselves that most won't be going home anytime soon, presenting the international community with a long-term crisis that it is ill-equipped to address and that could prove deeply destabilizing, for the region and the wider world.''

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iehi-feed-57593 Sun, 30 Aug 2015 10:58:43 GMT Feds Stanley Fischer Sees Inflation Rebound, Allowing Gradual Rate Hikes http://implode-explode.com/viewnews/2015-08-30_FedsStanleyFischerSeesInflationReboundAllowingGradualRateHikes.html iehi-feed-57591 Fri, 28 Aug 2015 16:59:57 GMT For Albert Edwards This Is The One Definitive Measure That "We Are Now In A Bear Market" http://implode-explode.com/viewnews/2015-08-28_ForAlbertEdwardsThisIsTheOneDefinitiveMeasureThatWeAreNowInABear.html iehi-feed-57590 Fri, 28 Aug 2015 16:56:37 GMT China Will Respond Too Late to Avoid Recession, Citigroup Says http://implode-explode.com/viewnews/2015-08-28_ChinaWillRespondTooLatetoAvoidRecessionCitigroupSays.html The only thing to stop a Chinese recession, which the former external member of the Bank of England defines as 4 percent growth on "the mendacious official data" for a year, is a consumption-oriented fiscal stimulus program funded by the central government and monetized by the People's Bank of China, Buiter said.

"Despite the economy crying out for it, the Chinese leadership is not ready for this," Buiter, chief economist at Citigroup, said in a media call hosted Thursday by the Council on Foreign Relations in New York. "It's an economy that's sliding into recession."

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iehi-feed-57589 Fri, 28 Aug 2015 16:54:33 GMT China has exposed the fatal flaws in our liberal economic order http://implode-explode.com/viewnews/2015-08-28_Chinahasexposedthefatalflawsinourliberaleconomicorder.html iehi-feed-57588 Fri, 28 Aug 2015 16:38:21 GMT China's Stock Rout to Resume as Intervention Ends, Says BofA http://implode-explode.com/viewnews/2015-08-28_ChinasStockRouttoResumeasInterventionEndsSaysBofA.html iehi-feed-57587 Fri, 28 Aug 2015 16:37:09 GMT China Stunner: Real GDP Is Now A Negative -1.1% - Evercore http://implode-explode.com/viewnews/2015-08-28_ChinaStunnerRealGDPIsNowANegative11Evercore.html iehi-feed-57586 Fri, 28 Aug 2015 14:15:41 GMT Consumer spending rises in July (BUT DISAPPOINTS) http://implode-explode.com/viewnews/2015-08-28_ConsumerspendingrisesinJulyBUTDISAPPOINTS.html the ZeroHedge counter-spin version of this news.]]> iehi-feed-57585 Fri, 28 Aug 2015 14:09:46 GMT NAR: U.S. pending home sales flat http://implode-explode.com/viewnews/2015-08-28_NARUSpendinghomesalesflat.html iehi-feed-57584 Fri, 28 Aug 2015 14:05:15 GMT Market turmoil shouldn't delay at least one Fed rate hike: Bullard http://implode-explode.com/viewnews/2015-08-28_MarketturmoilshouldntdelayatleastoneFedratehikeBullard.html iehi-feed-57583 Fri, 28 Aug 2015 14:03:42 GMT 71 migrants die in abandoned truck in Austria; 150 in sea off Libya http://implode-explode.com/viewnews/2015-08-28_71migrantsdieinabandonedtruckinAustria150inseaoffLibya.html At Least 150 Migrants Feared Dead After Boat Sinks Off Libya. Very sad.]]>