Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-57363 Mon, 03 Aug 2015 14:05:52 GMT Chinese textile mills are now hiring in places where cotton was king (in the US!) http://implode-explode.com/viewnews/2015-08-03_ChinesetextilemillsarenowhiringinplaceswherecottonwaskingintheUS.html In the United States, manufacturing wages adjusted for productivity have risen less than 30 percent since 2004, to $22.32 an hour, according to the consulting firm. And the higher wages for American workers are offset by lower natural gas prices, as well as inexpensive cotton and local tax breaks and subsidies.

Today, for every $1 required to manufacture in the United States, Boston Consulting estimates that it costs 96 cents to manufacture in China. Yarn production costs in China are now 30 percent higher than in the United States, according to the International Textile Manufacturers Federation.

"Everybody believed that China would always be cheaper," said Harold L. Sirkin, a senior partner at Boston Consulting. "But things are changing even faster than anyone imagined."''

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The Carolinas are now home to at least 20 Chinese manufacturers, including Keer and Sun Fiber, which set up a polyester fiber plant in Richburg, S.C., last year. And in Lancaster County, negotiations are underway with two more textile companies, from Taiwan and the Chinese mainland.

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iehi-feed-57362 Mon, 03 Aug 2015 13:59:27 GMT Greek stocks bashed on return, China woes hurt commodities | Reuters http://implode-explode.com/viewnews/2015-08-03_GreekstocksbashedonreturnChinawoeshurtcommoditiesReuters.html iehi-feed-57361 Mon, 03 Aug 2015 13:57:35 GMT Puerto Rico on brink of debt default; Misses Payment http://implode-explode.com/viewnews/2015-08-03_PuertoRicoonbrinkofdebtdefaultMissesPayment.html iehi-feed-57360 Mon, 03 Aug 2015 13:35:13 GMT Where Candidates Fear to Tread - Kunstler http://implode-explode.com/viewnews/2015-08-03_WhereCandidatesFeartoTreadKunstler.html iehi-feed-57359 Mon, 03 Aug 2015 13:30:58 GMT Doug Noland - Money and Spheres http://implode-explode.com/viewnews/2015-08-03_DougNolandMoneyandSpheres.html iehi-feed-57358 Mon, 03 Aug 2015 13:27:23 GMT It Could Be Time to Say Bye-Bye to Medicare http://implode-explode.com/viewnews/2015-08-03_ItCouldBeTimetoSayByeByetoMedicare.html iehi-feed-57355 Sun, 02 Aug 2015 13:57:10 GMT Africa's Biggest Gold Deposit Becomes Burden as Prices Plunge http://implode-explode.com/viewnews/2015-08-02_AfricasBiggestGoldDepositBecomesBurdenasPricesPlunge.html iehi-feed-57354 Sun, 02 Aug 2015 13:53:47 GMT Who needs the Fed? The rate hike cometh on its own http://implode-explode.com/viewnews/2015-08-02_WhoneedstheFedTheratehikecomethonitsown.html iehi-feed-57353 Sun, 02 Aug 2015 13:49:05 GMT Liar Loans Pop up in Canada's Magnificent Housing Bubble http://implode-explode.com/viewnews/2015-08-02_LiarLoansPopupinCanadasMagnificentHousingBubble.html iehi-feed-57352 Sun, 02 Aug 2015 13:45:38 GMT From boom to bust in Switzerland's border towns http://implode-explode.com/viewnews/2015-08-02_FromboomtobustinSwitzerlandsbordertowns.html iehi-feed-57351 Sun, 02 Aug 2015 13:37:25 GMT Robots: The Growing Threat to the Service Industry http://implode-explode.com/viewnews/2015-08-02_RobotsTheGrowingThreattotheServiceIndustry.html iehi-feed-57350 Sat, 01 Aug 2015 18:26:54 GMT Equifax: Credit card debt surges in top 25 US metro areas (CONSUMERS BACK ON CREDIT CARD LIFE SUPPORT-DRIP!!) http://implode-explode.com/viewnews/2015-08-01_EquifaxCreditcarddebtsurgesintop25USmetroareasCONSUMERSBACKONCRE.html ... credit card debt while remaining subdued since the Great Recession suddenly made a 180 degree turn... Total outstanding credit card debt recently surged beyond the $900 billion mark...  And with the average nationwide interest rate of 14% that means spending hamsters are probably dropping tens of billions on interest costs alone...

Adjusting for inflation US household income is back to where it was nearly 30 years ago. So to keep up the pretense that things are perfectly fine with the middle class, people are spending money they don't have. This by the way, was at the core of the Great Recession.

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iehi-feed-57349 Sat, 01 Aug 2015 18:21:42 GMT Three Years Ago This Coal Mine Was Worth $624 Million. Now It Sold for $1 http://implode-explode.com/viewnews/2015-08-01_ThreeYearsAgoThisCoalMineWasWorth624MillionNowItSoldfor1.html Production from Isaac Plains began in 2006 and continued through 2014, when it was closed. Its peak output was 2.8 million tons a year, with coal sold to steelmakers in Japan, South Korea and Taiwan. Stanmore said it would be responsible for A$32 million in rehabilitation costs linked to the mine.

The company plans to restart output at Isaac Plains at a reduced production rate. It sees "significant" synergies with its adjacent Wotonga deposit, only recently acquired and yet to be exploited. It's also secured a $42 million loan from Taurus Mining Finance Fund to help finance a return to production.

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iehi-feed-57347 Sat, 01 Aug 2015 16:02:01 GMT We can't stop the flow of migrants to Europe. Rehousing them is our only option http://implode-explode.com/viewnews/2015-08-01_WecantstoptheflowofmigrantstoEuropeRehousingthemisouronlyoption.html For many, the implications of this will be hard to swallow. But the reality is clear: the only logical, long-term response to the Calais crisis is to create a legal means for vast numbers of refugees to reach Europe in safety. This may sound counter-intuitive. But at the current rate, whether we like it or not, 1 million refugees will arrive on European shores within the next four or five years. Whether they set up camps at Calais depends on how orderly we make that process of resettlement.

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Some readers will find this idea unworkable. How could Europe handle so many migrants? But spread throughout Europe's total population of 740 million, an additional 1 million would have a minimal social impact. It would also still be smaller than the number of refugees currently in, for example, Lebanon -- where an indigenous population of 4.5 million is struggling to host a refugee population of nearly 1.2 million. Such a massive resettlement programme also has precedent. After the Vietnam war, western countries resettled 1.3 million refugees from the region. If it was achieved once, it can be achieved again.

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iehi-feed-57346 Sat, 01 Aug 2015 13:35:41 GMT Carlyle Fund Walloped in Commodities Rout (+scores of other commods. funds shut down) http://implode-explode.com/viewnews/2015-08-01_CarlyleFundWallopedinCommoditiesRoutscoresofothercommodsfundsshu.html Three years after private-equity giant Carlyle Group LP touted its purchase of a hedge-fund firm, a rout in raw materials has helped drive down holdings in its flagship fund from about $2 billion to less than $50 million, according to people familiar with the matter.

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This week alone, commodity-trading firms Armajaro Asset Management LLP and Black River Asset Management LLC, a unit of agricultural conglomerate Cargill Inc., said they are closing funds. Several other firms that managed billions of dollars already have closed their doors, including London-based Clive Capital LLP and BlueGold Capital Management LLP. Large money managers including Brevan Howard Asset Management LLP and Fortress Investment Group LLC have wound down commodity strategies...

Assets under management at commodity hedge funds have fallen 15%, to $24.1 billion, since their peak in 2012, and nearly 30 firms out of 250 have shut down since that year, according to industry consultant HFR Inc. Commodity firms lost money for three years in a row before 2014, HFR said.

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Christopher Nygaard and Drew Gilbert, who co-founded Vermillion in 2005 and sold a majority equity stake in the firm to Carlyle in 2012, left at the end of June, according to people with knowledge of the firm's operations. Vermillion is retreating from prior investments in oil, natural gas, coal, iron ore and agriculture, and traders and strategists involved in managing those strategies are leaving, these people said.

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iehi-feed-57345 Sat, 01 Aug 2015 13:31:38 GMT OPEC Shale War Leaves Big Oil Companies as Surprise Victims http://implode-explode.com/viewnews/2015-08-01_OPECShaleWarLeavesBigOilCompaniesasSurpriseVictims.html iehi-feed-57344 Sat, 01 Aug 2015 13:27:35 GMT Why 99% of trading is pointless - Bogle http://implode-explode.com/viewnews/2015-08-01_Why99oftradingispointlessBogle.html iehi-feed-57343 Sat, 01 Aug 2015 13:25:48 GMT Greek bailout is far from being a done deal http://implode-explode.com/viewnews/2015-08-01_Greekbailoutisfarfrombeingadonedeal.html iehi-feed-57342 Sat, 01 Aug 2015 13:23:46 GMT Alexis Tsipras: I ordered Varoufakis to 'defend Greece' http://implode-explode.com/viewnews/2015-08-01_AlexisTsiprasIorderedVaroufakistodefendGreece.html iehi-feed-57341 Fri, 31 Jul 2015 23:03:41 GMT The Defeat of Europe (Varoufakis in Le Monde Diplomatique) http://implode-explode.com/viewnews/2015-07-31_TheDefeatofEuropeVaroufakisinLeMondeDiplomatique.html