Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-56591 Mon, 27 Apr 2015 20:40:19 GMT World's coolest economist (Pettis) hot on his numbers http://implode-explode.com/viewnews/2015-04-27_WorldscoolesteconomistPettishotonhisnumbers.html iehi-feed-56590 Mon, 27 Apr 2015 17:25:52 GMT Deutsche Bank's Record Fine Reveals Its Rotten Heart (And Regulatory Uncoordination) http://implode-explode.com/viewnews/2015-04-27_DeutscheBanksRecordFineRevealsItsRottenHeartAndRegulatoryUncoord.html iehi-feed-56589 Mon, 27 Apr 2015 16:17:42 GMT Boston Fed Admits There Is No Exit, Suggests QE Become "Normal Monetary Policy" http://implode-explode.com/viewnews/2015-04-27_BostonFedAdmitsThereIsNoExitSuggestsQEBecomeNormalMonetaryPolicy.html iehi-feed-56588 Mon, 27 Apr 2015 14:15:00 GMT Germany Hints At "Plan B" on Greece http://implode-explode.com/viewnews/2015-04-27_GermanyHintsAtPlanBonGreece.html iehi-feed-56586 Sun, 26 Apr 2015 17:47:28 GMT The ECB Needs to Know Its Place http://implode-explode.com/viewnews/2015-04-26_TheECBNeedstoKnowItsPlace.html iehi-feed-56585 Sun, 26 Apr 2015 17:46:03 GMT The migrants who took over a Sicilian palace http://implode-explode.com/viewnews/2015-04-26_ThemigrantswhotookoveraSicilianpalace.html iehi-feed-56584 Sun, 26 Apr 2015 16:17:36 GMT Euro Ministers Alarmed as Bloc Shuts Down Greece Plan B http://implode-explode.com/viewnews/2015-04-26_EuroMinistersAlarmedasBlocShutsDownGreecePlanB.html iehi-feed-56583 Sun, 26 Apr 2015 12:47:27 GMT Brixton protesters against Gentrificiation smash windows of Foxtons estate agents (UK) http://implode-explode.com/viewnews/2015-04-26_BrixtonprotestersagainstGentrificiationsmashwindowsofFoxtonsesta.html iehi-feed-56582 Sat, 25 Apr 2015 14:35:23 GMT An Austrian Province Just Requested A State Bailout http://implode-explode.com/viewnews/2015-04-25_AnAustrianProvinceJustRequestedAStateBailout.html iehi-feed-56581 Sat, 25 Apr 2015 14:00:48 GMT Gold, the SDR and BRICS - Alasdair MacLeod http://implode-explode.com/viewnews/2015-04-25_GoldtheSDRandBRICSAlasdairMacLeod.html The Americans' blocking of reform signals her desire to preserve the dollar's hegemony; but given she lost out spectacularly over the creation of the Asian Infrastructure Investment Bank, IMF reform could become the next serious threat to the dollar's dominance. And if America does not back down over the IMF and the SDR, she will have no fall-back position; China on the other hand still has some aces up her sleeve.

One of them is gold, and another is her role in a rival organisation established by the BRICS. The New Development Bank (NDB) is in the final stages of being set up, driven by frustration at America's attempts to protect the dollar's role and to keep the IMF as an exclusive club for advanced nations. Instead, the NDB could easily issue its own version of the SDR with [a gold backing]...

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iehi-feed-56580 Sat, 25 Apr 2015 13:56:35 GMT How the stock market destroyed the middle class http://implode-explode.com/viewnews/2015-04-25_Howthestockmarketdestroyedthemiddleclass.html "The ‘buyback corporation' is in large part responsible for a national economy characterized by income inequality, employment instability, and diminished innovative capacity," wrote William Lazonick, an economics professor at the University of Massachusetts at Lowell in a new paper published by the Brookings Institution.

Lazonick argues that corporations -- which once retained a sizable share of profits to reinvest (including investing in their workforce by paying them enough to get them to stay) -- have adopted a "downsize-and-distribute" model.

Last week, the CEOs of America's 500 biggest companies received a letter from Lawrence Fink, CEO of BlackRoc, the largest asset manager in the world, saying exactly the same thing.

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iehi-feed-56579 Sat, 25 Apr 2015 13:53:43 GMT China bad debt spikes by more than a third http://implode-explode.com/viewnews/2015-04-25_Chinabaddebtspikesbymorethanathird.html iehi-feed-56578 Sat, 25 Apr 2015 13:51:21 GMT Greece, euro zone no closer to bailout deal after tough talks http://implode-explode.com/viewnews/2015-04-25_Greeceeurozonenoclosertobailoutdealaftertoughtalks.html iehi-feed-56577 Sat, 25 Apr 2015 13:49:47 GMT The Greek crisis has a new buzzword: Grimbo http://implode-explode.com/viewnews/2015-04-25_TheGreekcrisishasanewbuzzwordGrimbo.html iehi-feed-56576 Sat, 25 Apr 2015 13:47:57 GMT U.S. Bridges Falling Down Get No Help From Record '15 Muni Sales http://implode-explode.com/viewnews/2015-04-25_USBridgesFallingDownGetNoHelpFromRecord15MuniSales.html iehi-feed-56575 Sat, 25 Apr 2015 13:46:43 GMT The CFTC: Crash Boys - Michael Lewis http://implode-explode.com/viewnews/2015-04-25_TheCFTCCrashBoysMichaelLewis.html A bunch of news reports have suggested that the CFTC didn't have the information available to it to make the case [against Sarao]... But this can't be true. Immediately after the flash crash, Eric Hunsader, founder of the Chicago-based market data company Nanex, which has access to all stock and futures market orders, detected lots of socially dubious trading activity that May day: high-frequency trading firms sending 5,000 quotes per second in a single stock without ever intending to trade that stock, for instance. On June 18, 2010, Nanex published a report of its findings...

Two days later the CFTC's chief economist, Andrei Kirilenko, e-mailed Hunsader. "He invited me out to D.C. and I talked with everyone there (and I mean everyone -- including a commissioner)," Hunsader says. "The CFTC then flew out a programmer to our offices where we showed him how to work with our data. Took all of a day. We sent him back with our flash crash data, and that was pretty much the last we heard about that project."

... It would also be interesting to know how it occurred to Sarao that his trick might work. There's a fabulous yet-to-be-told story here, about a smart kid in the U.K. who somehow figures out that the machines that execute the stock market trades of others might be gamed -- and so he games them

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iehi-feed-56574 Fri, 24 Apr 2015 23:34:44 GMT ECB Buys Negative Yield Covered Bonds; Trade Guaranteed to Blow Up http://implode-explode.com/viewnews/2015-04-24_ECBBuysNegativeYieldCoveredBondsTradeGuaranteedtoBlowUp.html iehi-feed-56573 Fri, 24 Apr 2015 16:56:06 GMT Robots Step Into New Planting, Harvesting Roles http://implode-explode.com/viewnews/2015-04-24_RobotsStepIntoNewPlantingHarvestingRoles.html Farmers of corn and other commodity crops decades ago replaced most of their workers with giant combines and other machines that can quickly cut and gather grain used for animal feed, food ingredients and ethanol. But growers of produce and plants have largely stuck with human pickers--partly to avoid maladroit machines marring the blemish-free appearance of items that consumers see on store shelves.

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With workers in short supply [of late], "the only way to get more out of the sunshine we have is to elevate the technology," said Soren Bjorn, Americas unit head for Driscoll Strawberry Associates Inc., the country's largest berry brand. Driscoll's largest berry grower, Reiter Affiliated Companies LLC, is partly financing the development of Mr. Bravo's Agrobot. (Photos: A new way to pick strawberries)

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Harnessing high-powered computing, color sensors and small metal baskets attached to the robotic arms, the machine gently plucked ripe strawberries from below deep-green leaves, while mostly ignoring unripe fruit nearby... The Agrobot costs about $100,000 and Mr. Bravo has a second, larger prototype in development. Other devices similarly are starting to assume delicate tasks in different parts of the fresh-produce industry, from planting vegetable seedlings to harvesting lettuce to transplanting roses.

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iehi-feed-56572 Fri, 24 Apr 2015 12:38:51 GMT Bevy of Bad Economic Numbers Rolls In http://implode-explode.com/viewnews/2015-04-24_BevyofBadEconomicNumbersRollsIn.html Initial Claims Worse Than Expected (Again), Remain Flat For 2015

New Home Sales Tumble By Most In Almost 2 Years As Northeast Crashes

US Manufacturing PMI Misses By Most On Record As New Orders Tumble

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iehi-feed-56571 Fri, 24 Apr 2015 12:33:43 GMT These Two Assets Prove "Recovery" Narrative Bunk http://implode-explode.com/viewnews/2015-04-24_TheseTwoAssetsProveRecoveryNarrativeBunk.html