Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54451 Wed, 23 Jul 2014 01:45:36 GMT NY Fed found serious problems at Deutsche Bank's U.S. arms http://implode-explode.com/viewnews/2014-07-22_NYFedfoundseriousproblemsatDeutscheBanksUSarms.html iehi-feed-54448 Tue, 22 Jul 2014 14:33:11 GMT German Economy Hit by US, EU Sanctions on Russia http://implode-explode.com/viewnews/2014-07-22_GermanEconomyHitbyUSEUSanctionsonRussia.html Even prior to the sanctions, the Russian economy had been struggling. Now, though, the Ukraine crisis is beginning to make itself felt in Germany as well. German industry's Committee on Eastern European Economic Relations believes that the crisis could endanger up to 25,000 jobs in Germany. Were a broad recession to befall Russia, German growth could sink by 0.5 percent, according to a Deutsche Bank study.

...

The most recent US sanctions, warns Eckhard Cordes, head of the Committee on Eastern European Economic Relations, have placed an additional strain "on the general investment climate." Particularly, he adds, because European companies have to conform to the American penalties.

]]>
iehi-feed-54447 Tue, 22 Jul 2014 14:30:24 GMT China's meaningless GDP figures http://implode-explode.com/viewnews/2014-07-22_ChinasmeaninglessGDPfigures.html iehi-feed-54446 Tue, 22 Jul 2014 14:29:31 GMT Flint manager warns of bankruptcy over retiree costs http://implode-explode.com/viewnews/2014-07-22_Flintmanagerwarnsofbankruptcyoverretireecosts.html iehi-feed-54445 Tue, 22 Jul 2014 14:26:11 GMT Report: Drastic fall in new gold discoveries http://implode-explode.com/viewnews/2014-07-22_ReportDrasticfallinnewgolddiscoveries.html iehi-feed-54444 Tue, 22 Jul 2014 14:22:43 GMT Juncker faces political test as fines loom on illegal German trade surplus http://implode-explode.com/viewnews/2014-07-22_JunckerfacespoliticaltestasfinesloomonillegalGermantradesurplus.html iehi-feed-54442 Tue, 22 Jul 2014 14:19:33 GMT The dollar's 70-year dominance is coming to an end http://implode-explode.com/viewnews/2014-07-22_Thedollars70yeardominanceiscomingtoanend.html iehi-feed-54441 Tue, 22 Jul 2014 01:06:05 GMT ‘BRICS Bank capital might not be held in US dollars' http://implode-explode.com/viewnews/2014-07-21_BRICSBankcapitalmightnotbeheldinUSdollars.html iehi-feed-54439 Mon, 21 Jul 2014 21:05:32 GMT Wall Street Adapts to New Regulatory Regime Under Dodd-Frank http://implode-explode.com/viewnews/2014-07-21_WallStreetAdaptstoNewRegulatoryRegimeUnderDoddFrank.html "Dodd-Frank certainly catalyzed substantial amounts of simplification, and we're moving well beyond that through our own initiatives," said James Mahoney, a Bank of America spokesman.

The new regulatory regime is also prompting banks to add thousands of staffers to help ensure compliance. By the end of this year, J.P. Morgan Chase JPM 0.00% & Co. expects to have added 13,000 employees focused on regulatory, compliance and control efforts, Chief Executive Officer James Dimon said in his annual shareholder letter. John Gerspach, Citigroup's chief financial officer, told investors Monday the company will likely end the year with 30,000 people dedicated to regulatory and compliance efforts, a 33% increase from 2011, even as Citigroup cuts its overall headcount.

Bank regulators point to the changes on Wall Street as evidence their efforts to suck risk out of the financial system are working. "Really we're in a substantially different place, and a much improved place," said Thomas Curry, comptroller of the currency.

But the banks' efforts are not enough to damp worries among some policymakers and lawmakers that the broader economy remains vulnerable to the potential collapse of a large, interconnected financial firm. Banks' are getting hungrier for risk as they try to compensate for sluggish economic growth, ultra-low interest rates and higher regulatory costs though appetites remain subdued compared to pre-crisis levels.

U.S. leveraged syndicated lending totaled $1.244 trillion in deal volume in 2013, up from $893 million in 2012 and surpassing the 2007 peak of $1.191 trillion, according to data from Dealogic. Banks provide the vast majority of the leveraged loans to fund buyouts.''

]]>
iehi-feed-54437 Mon, 21 Jul 2014 13:40:38 GMT The Subprime Auto Loan Bubble Bursts http://implode-explode.com/viewnews/2014-07-21_TheSubprimeAutoLoanBubbleBursts.html iehi-feed-54436 Mon, 21 Jul 2014 13:36:12 GMT UBS Warns Everything Is Overpriced, Prepares For Sell-Off http://implode-explode.com/viewnews/2014-07-21_UBSWarnsEverythingIsOverpricedPreparesForSellOff.html iehi-feed-54435 Mon, 21 Jul 2014 13:34:18 GMT The BRICS Don't Like the Dollar-Dominated World Economy, but They're Stuck With It [For Now] http://implode-explode.com/viewnews/2014-07-21_TheBRICSDontLiketheDollarDominatedWorldEconomybutTheyreStuckWith.html iehi-feed-54433 Mon, 21 Jul 2014 13:13:09 GMT The inflection point has arrived in Southern California real estate http://implode-explode.com/viewnews/2014-07-21_TheinflectionpointhasarrivedinSouthernCaliforniarealestate.html iehi-feed-54428 Sun, 20 Jul 2014 22:38:25 GMT America's lost oomph | The Economist http://implode-explode.com/viewnews/2014-07-20_AmericaslostoomphTheEconomist.html Sadly, the New Economy is no more. The recovery from the recession of 2008-09 has been the weakest of the post-war era, and evidence is mounting that America's potential growth rate has plummeted. Its two big determinants, the supply of workers and the rise in their productivity, have both fallen short. Performance in the past year has been particularly feeble: America's labour force has not grown at all and output per hour worked has fallen. The IMF recently cut its estimate of the country's potential rate of growth to 2%. Other economists put it as low as 1.75%

...

Obamacare, though good in other respects, tends to shrink the labour force because it helps people get health care without working. There is less to be said for the outdated social safety net, which manages both to be stingy and to discourage work. America spends a smaller proportion of its GDP than other rich countries on retraining the jobless and helping them find work. It has not raised the retirement age and it has allowed its disability-insurance system to become an ersatz welfare scheme. The number of workers on disability, hardly any of whom will work again, has doubled since 1997 to 9m. For once, Europe could teach America some labour-market lessons: thanks to welfare reforms, the proportion of Europeans in the workforce is now rising.

]]>
iehi-feed-54427 Sun, 20 Jul 2014 22:34:49 GMT Banks urged to warn mortgage borrowers to look at how higher interest rates will affect them (UK) http://implode-explode.com/viewnews/2014-07-20_Banksurgedtowarnmortgageborrowerstolookathowhigherinterestratesw.html iehi-feed-54424 Sun, 20 Jul 2014 21:57:36 GMT The Ongoing Rot in the Economy http://implode-explode.com/viewnews/2014-07-20_TheOngoingRotintheEconomy.html iehi-feed-54423 Sun, 20 Jul 2014 10:29:25 GMT IF THIS KEEPS UP, THEY WILL HAVE TO START PUTTING ARMED GUARDS ON FOOD TRUCKS http://implode-explode.com/viewnews/2014-07-20_IFTHISKEEPSUPTHEYWILLHAVETOSTARTPUTTINGARMEDGUARDSONFOODTRUCKS.html On Wednesday, Robert Wenzel of the Economic Policy Journal shared some new data that has just been released by the federal government about food inflation over the past year. Without a doubt, these numbers are quite startling... ]]> iehi-feed-54422 Sun, 20 Jul 2014 10:26:23 GMT INSIDER TRADING AND FINANCIAL TERRORISM ON COMEX http://implode-explode.com/viewnews/2014-07-20_INSIDERTRADINGANDFINANCIALTERRORISMONCOMEX.html the price of gold is not determined in markets where physical gold is bought and sold but in the paper futures market where contracts trade and speculators place bets on the price of gold. Most of the contracts traded on the Comex futures market are settled in cash. The value of the contracts used to short gold and drive down the price is well in excess of the actual amount of physical gold that is kept on the Comex and available for delivery. One might think that regulators would pay attention to a market in which the value of contracts outstanding exceeds by several multiples the amount of physical gold available for delivery. ]]> iehi-feed-54419 Sat, 19 Jul 2014 17:01:44 GMT Rickards: Stock market reality check http://implode-explode.com/viewnews/2014-07-19_RickardsStockmarketrealitycheck.html iehi-feed-54418 Sat, 19 Jul 2014 16:58:49 GMT Perfect Pilfering: A detailed exposé on how the market is rigged from a data-centric approach http://implode-explode.com/viewnews/2014-07-19_PerfectPilferingAdetailedexposonhowthemarketisriggedfromadatacen.html