Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-56214 Tue, 03 Mar 2015 18:34:05 GMT Investor survey shows 38 pct chance of eurozone break-up in 12 months http://implode-explode.com/viewnews/2015-03-03_Investorsurveyshows38pctchanceofeurozonebreakupin12months.html iehi-feed-56213 Tue, 03 Mar 2015 18:31:41 GMT The Great Global Monetary Easing of 2015 May Be Done by Midyear http://implode-explode.com/viewnews/2015-03-03_TheGreatGlobalMonetaryEasingof2015MayBeDonebyMidyear.html iehi-feed-56212 Tue, 03 Mar 2015 18:30:56 GMT Greece eyes last central bank funds to avert IMF default http://implode-explode.com/viewnews/2015-03-03_GreeceeyeslastcentralbankfundstoavertIMFdefault.html Yanis Varoufakis, the finance minister, sought to silence such talk over the weekend, telling Associated Press that a default to the IMF was out of the question, even if a halt in payments to the EU institutions remains a serious threat. "We are not going to be the first country not to meet our obligations to the IMF. We shall squeeze blood out of stone if we need to do this on our own, and we shall do it," he said.

...

Mr Varoufakis said Greece did not want any further money if it meant having to buckle to Troika terms. "We won't take the next tranche if the price is having to continue with the 'Memorandum'. That is not what the people voted for," he said. It is a thinly-veiled warning that Greece will default on €300bn of combined liabilities to EMU entities and states if pushed too hard, regardless of what this implies for monetary union.

Whatever piece of paper they signed in Brussels 10 days ago, the two sides are still talking past each other.

]]>
iehi-feed-56209 Tue, 03 Mar 2015 18:19:38 GMT Ukraine central bank declares fourth-largest lender insolvent http://implode-explode.com/viewnews/2015-03-03_Ukrainecentralbankdeclaresfourthlargestlenderinsolvent.html iehi-feed-56208 Tue, 03 Mar 2015 14:16:17 GMT US Savings Rate Surges To Highest Since 2012 As Consumers Save "Gas Tax Cut" Instead Of Spending http://implode-explode.com/viewnews/2015-03-03_USSavingsRateSurgesToHighestSince2012AsConsumersSaveGasTaxCutIns.html iehi-feed-56207 Tue, 03 Mar 2015 01:11:26 GMT HOW'S THAT DEFLATION WORKING OUT FOR YOU? http://implode-explode.com/viewnews/2015-03-02_HOWSTHATDEFLATIONWORKINGOUTFORYOU.html The BLS put out their monthly CPI lie last week. They issued the proclamation that inflation is dead. Did you know your costs are 0.1% lower than they were one year ago. They then used these deflation numbers to proclaim your real wages soared last month. It's all good. The American consumer is so flush with cash, they decided to spend less money for the second month in a row.

...

And now for the BIGGEST LIE in the entire report. The have the balls to tell you that health insurance only makes up 0.753% of your entire annual budget and it has FALLEN by 0.5% in the last year. This must be some cruel Obamacare joke perpetrated by these government apparatchiks. I haven't met anyone who has seen their health insurance costs go down in the last year. My premiums went up by 20% and my annual family deductible went from $0 to $2,000. How the BLS can get away with issuing this drivel is beyond my comprehension. It's pure and utter bullshit.

]]>
iehi-feed-56206 Mon, 02 Mar 2015 22:33:46 GMT IMF bent its rules to hobble Greece with unsustainable debt http://implode-explode.com/viewnews/2015-03-02_IMFbentitsrulestohobbleGreecewithunsustainabledebt.html Philippe Legrain, a former adviser to the European Commission president, told Arte that the IMF managing director at the time, Dominique Strauss-Kahn, overrode objections from IMF staff so that Greece could pay the money it owed to French banks and not endanger his chances to run for president in France.

...

"Despite the IMF's rules that it is not supposed to resort to exceptional access lending when a country's public debt is unsustainable or when the chances of program success are not good, the IMF has managed to lend to Greece some 1,860% of quota," wrote Desmond Lachman, former deputy director of the IMF's policy department. "That is more than three times the normal maximum IMF limit for such lending."

]]>
iehi-feed-56203 Mon, 02 Mar 2015 15:03:59 GMT Greek debt becoming less sustainable http://implode-explode.com/viewnews/2015-03-02_Greekdebtbecominglesssustainable.html iehi-feed-56201 Mon, 02 Mar 2015 14:32:33 GMT Ukraine Hyperinflates http://implode-explode.com/viewnews/2015-03-02_UkraineHyperinflates.html iehi-feed-56199 Mon, 02 Mar 2015 14:28:13 GMT ​Catalonia prepares to set up own foreign missions, tax system amid independence drive http://implode-explode.com/viewnews/2015-03-02_Cataloniapreparestosetupownforeignmissionstaxsystemamidindepende.html iehi-feed-56198 Mon, 02 Mar 2015 14:24:53 GMT Creditors Face Losses as Austria Halts Hypo Alpe Support http://implode-explode.com/viewnews/2015-03-02_CreditorsFaceLossesasAustriaHaltsHypoAlpeSupport.html Hypo Alpe-Adria-Bank International AG creditors face losses after the Austrian government ruled out providing fresh capital and put the failed lender into resolution.

After 5.5 billion euros ($6.2 billion) of taxpayer money was injected into Hypo Alpe over five years, Chancellor Werner Faymann's administration decided on March 1 to stop supporting Hypo Alpe's bad bank, Heta Asset Resolution AG, when it was told Heta may need another 7.6 billion euros.

]]>
iehi-feed-56197 Sun, 01 Mar 2015 21:29:30 GMT Hussman: Plan To Exit Stocks Within the Next 8 Years? Exit Now http://implode-explode.com/viewnews/2015-03-01_HussmanPlanToExitStocksWithintheNext8YearsExitNow.html iehi-feed-56196 Sun, 01 Mar 2015 21:17:41 GMT Italy's "Le Pen" draws thousands at rally in Rome http://implode-explode.com/viewnews/2015-03-01_ItalysLePendrawsthousandsatrallyinRome.html iehi-feed-56192 Sun, 01 Mar 2015 20:57:12 GMT Fed Vice Chair Fischer says rate hike most likely "June or September" http://implode-explode.com/viewnews/2015-03-01_FedViceChairFischersaysratehikemostlikelyJuneorSeptember.html iehi-feed-56191 Sun, 01 Mar 2015 15:33:30 GMT Andrew Maguire -- LBMA Paper Ponzi To Be Crushed As Gold And Silver Markets Change Forever (Chinese Gold Fix, etc.) http://implode-explode.com/viewnews/2015-03-01_AndrewMaguireLBMAPaperPonziToBeCrushedAsGoldAndSilverMarketsChan.html iehi-feed-56190 Sun, 01 Mar 2015 15:26:43 GMT BREAKING BAD (DEBT) -- EPISODE TWO (Consumer Debt and Subprime Rises) http://implode-explode.com/viewnews/2015-03-01_BREAKINGBADDEBTEPISODETWOConsumerDebtandSubprimeRises.html iehi-feed-56189 Sat, 28 Feb 2015 16:41:58 GMT The euro may be riskier than you think - Alasdair MacLeod http://implode-explode.com/viewnews/2015-02-28_TheeuromayberiskierthanyouthinkAlasdairMacLeod.html iehi-feed-56188 Sat, 28 Feb 2015 16:39:20 GMT Greek PM says 'forget about third bailout' http://implode-explode.com/viewnews/2015-02-28_GreekPMsaysforgetaboutthirdbailout.html iehi-feed-56184 Fri, 27 Feb 2015 20:02:29 GMT Greece runs out of funding options despite euro zone reprieve http://implode-explode.com/viewnews/2015-02-27_Greecerunsoutoffundingoptionsdespiteeurozonereprieve.html Shut out of debt markets and faced with a steep fall in tax revenues, Athens is expected to run out of cash by the middle or end of March. Its finance minister has warned that Greece will struggle to repay creditors starting with a 1.5 billion euro IMF loan repayment due in March.

...

Greece had also hoped it could tap the almost 11 billion euros of leftover money in the Greek bank stabilization fund, but euro zone finance ministers have decided the money would be returned to the Luxembourg-based euro zone bailout fund.

...

A senior Greek banker said the expectation in Athens remained that the ECB would relent and allow some leeway on T-bills.

...

The onus is now on Athens to rush through reforms to unlock the remaining aid.

]]>
iehi-feed-56182 Fri, 27 Feb 2015 17:18:43 GMT Greek Gov't raises concern over payment to IMF in March http://implode-explode.com/viewnews/2015-02-27_GreekGovtraisesconcernoverpaymenttoIMFinMarch.html