Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-61533 Sun, 22 Jan 2017 15:11:04 GMT Utopian ideas on climate change will get us precisely nowhere http://implode-explode.com/viewnews/2017-01-22_Utopianideasonclimatechangewillgetuspreciselynowhere.html Does anyone believe that when Anglesey's aluminium smelter closed in 2009, and Lynemouth's in 2011, that the UK stopped using aluminium? Did it help reduce global warming for these operations to be transferred to less- regulated countries outside Europe, and for aluminium to join the long list of imported items?

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Electric cars can look the same as today's models -- or they can be much more futuristic. They can also continue to be an object of conspicuous consumption, which campaigners will have to accept, aiming to encourage the use of eco-transport and not enforce some form of back-to-nature socialism via the back door. Electric vehicles, powered by solar generators, could reduce transport emissions to zero in tropical countries, which currently account for 40% of the world's population and will account for 55% by 2050.

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iehi-feed-61531 Sat, 21 Jan 2017 16:00:14 GMT It's official policy now: Trump to renegotiate NAFTA http://implode-explode.com/viewnews/2017-01-21_ItsofficialpolicynowTrumptorenegotiateNAFTA.html iehi-feed-61528 Sat, 21 Jan 2017 15:43:51 GMT Are Gold Mining Stocks Poised to Soar More Than 1,000%? http://implode-explode.com/viewnews/2017-01-21_AreGoldMiningStocksPoisedtoSoarMoreThan1000.html iehi-feed-61511 Wed, 18 Jan 2017 19:42:51 GMT Monsanto-Bayer: Trump noses into one of the world's biggest mergers (AND FINDS COMPLEX JOB/COMPETITION CALCULUS) http://implode-explode.com/viewnews/2017-01-18_MonsantoBayerTrumpnosesintooneoftheworldsbiggestmergersANDFINDSC.html Trump asked specific questions about the $66 billion merger they are in the middle of, according to people briefed on the meeting. The companies committed to $8 billion in new research and development, along with 3,000 new jobs and a commitment to keep 9,000 other jobs in the United States, if the merger goes through.

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[But] Leading the charge [against the deal] on Capitol Hill is Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa), who has pushed regulators to block the deal.

"I am concerned that the merger will curtail chemical and seed choices, and raise prices for farmers and the American consumer. In addition, I am concerned that the proposed deal will harm research, development and innovation," the Iowa Republican said in a Nov. 2 letter to the Justice Department's antitrust division.

Among those advocating against consolidation in the agrochemical industry is Bruce Rastetter, an Iowa agribusiness leader and Republican mega-donor, who also serves on Trump's agricultural advisory council. Rastetter says the deals would limit competition, raise costs for farmers and stunt job growth.

"It's not surprising that the people who will benefit most from the merger are anxious to convince President-elect Trump that it won't harm farmers and agriculture," Rastetter said in a recent interview with POLITICO. "Trump is smart enough to know that when fewer companies are selling products, there is less competition and prices go up."

Painter said that Trump, if he wants to set economic policies, should propose laws across the board and not get involved in the specifics of deals with companies.

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iehi-feed-61507 Tue, 17 Jan 2017 22:03:37 GMT Why the Price of Gold Will Rise 15.2% This Year http://implode-explode.com/viewnews/2017-01-17_WhythePriceofGoldWillRise152ThisYear.html iehi-feed-61506 Tue, 17 Jan 2017 21:14:00 GMT A Hint of Gold Backwardation Means Rising Gold Scarcity http://implode-explode.com/viewnews/2017-01-17_AHintofGoldBackwardationMeansRisingGoldScarcity.html iehi-feed-61462 Wed, 11 Jan 2017 22:51:04 GMT Volkswagen agrees to $4.3 billion U.S. diesel settlement http://implode-explode.com/viewnews/2017-01-11_Volkswagenagreesto43billionUSdieselsettlement.html According to documents filed in U.S. District Court in Detroit, VW will pay a $1.5-billion civil fine and $2.8-billion criminal fine. It would have faced higher fines if it hadn't agreed to spend an estimated $11 billion to address consumer vehicles.

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Prosecutors also charged six Volkswagen executives and employees, for their roles in the nearly 10-year conspiracy, including Oliver Schmidt, who was a manager in charge of VW's environmental and engineering office in Michigan.

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iehi-feed-61457 Wed, 11 Jan 2017 15:14:29 GMT The price parents pay: It costs more than ever --$13K a year -- to raise your kid http://implode-explode.com/viewnews/2017-01-11_ThepriceparentspayItcostsmorethanever13Kayeartoraiseyourkid.html It's more expensive than ever to raise a child in the United States, where families will shell out an average of $233,610 from birth through age 17 -- or about $13,000 a year -- according to new figures from the government.

The ballooning price tag, a 3 percent increase from a year earlier, comes at a time when day-care costs can exceed university tuitions and homes prices have skyrocketed to record highs. Families in urban areas in the Northeast, such as New York and Boston, were likely to pay even more -- an average of $253,770, or roughly $14,000 a year --because of higher housing and child-care costs, according to a report by the Department of Agriculture.

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Back when the report debuted in 1960, child-care and education costs accounted for 2 percent of total child-rearing expenses. Today they make up 16 percent as more women have entered the workforce. The average cost for full-time child care now exceeds $9,500 per child annually, according to a recent report by Washington-based think tank New America. Health-care costs have also increased over the years, as families pay larger insurance premiums and face higher drug costs, Lino said. State governments use the report's findings to create guidelines for child support and foster care.

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iehi-feed-61448 Tue, 10 Jan 2017 15:01:44 GMT Obama's Blunder; Trump's Gambit - Jim Rickards http://implode-explode.com/viewnews/2017-01-10_ObamasBlunderTrumpsGambitJimRickards.html Most threatening [to US interests] is that in the past ten years, Russia increased its gold reserves 203%, and China increased its gold reserves an estimated 570%. Such gold accumulations have no purpose other than to lay the foundation for a non-dollar based international monetary system. No great power has prevailed long without a great currency. When confidence in the dollar fails, U.S. power will fail with it.

Obama blundered because he allowed Russia and China to pursue the two-against-one dynamic leaving the U.S. as the odd man out. Fortunately it is not too late to reverse this dynamic. Signs from the new Trump administration are encouraging. Trump's early actions and appointments suggest he understands the precarious position of the U.S., and is already moving to change the status quo.

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iehi-feed-61443 Sun, 08 Jan 2017 21:01:16 GMT Peña Nieto Faces Unrest in Mexico as Gas Prices Climb and Trump Looms http://implode-explode.com/viewnews/2017-01-08_PeaNietoFacesUnrestinMexicoasGasPricesClimbandTrumpLooms.html Amid nationwide marches, highway blockades and looting stemming from widespread outrage over an increase in gas prices, President Enrique Peña Nieto of Mexico went on national television to appeal for understanding.

With international oil prices rising and Mexico dependent on gasoline imports, he argued in the speech on Thursday, the government had no alternative but to raise prices at the pump. "Here I ask you," he said, gesturing at the camera, "What would you have done?"

It did not take long for him to get an answer, as social media erupted with suggestions and disgust: Combat corruption and impunity. Eliminate gasoline vouchers for elected officials. Collect more taxes from multinational corporations. Cut the salaries and benefits of high-level government officials. Sell the presidential plane. Reduce the first lady's wardrobe spending. Resign.

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The unrest comes as Mexico braces for the administration of President-elect Donald J. Trump, who has threatened to introduce far more restrictive immigration and trade policies, including canceling the North American Free Trade Agreement, increasing deportations and building a wall on the southern border of the United States... in general the Peña Nieto administration seems to be struggling to figure out how to respond to Mr. Trump. Mexicans have been clamoring for a full-throated, chest-out defense of their country and sovereignty against Mr. Trump's threats, but many say they have yet to hear it.

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The gas price increases of about 20 percent are part of a broad overhaul that ends the state's monopoly over the energy industry. The government has long controlled and subsidized gasoline prices, but by the end of the year it will allow gas prices to fluctuate according to the market, a move intended to attract foreign investment to compete with the state oil company, Pemex.

The government has argued that ending fuel subsidies will help the country avoid spending cuts to social programs, and that the subsidies have disproportionately benefited wealthier Mexicans who own cars. But many fear that higher gasoline prices will increase prices for food and public transportation, hitting the pocketbooks of even the poorest Mexicans.

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iehi-feed-61441 Sun, 08 Jan 2017 19:34:45 GMT Bonner: Trump To Create "Catastrophe" By Attacking Trade Without Fixing Monetary Dysfunction http://implode-explode.com/viewnews/2017-01-08_BonnerTrumpToCreateCatastropheByAttackingTradeWithoutFixingMonet.html iehi-feed-61425 Thu, 05 Jan 2017 22:14:09 GMT 2016 Precious Metals Performance Review http://implode-explode.com/viewnews/2017-01-05_2016PreciousMetalsPerformanceReview.html iehi-feed-61411 Wed, 04 Jan 2017 17:22:32 GMT Futures Market Aiding Gold Price Suppression? Newly-Released State Dept. Cable Reveals It Was Set Up For That Very Purpose http://implode-explode.com/viewnews/2017-01-04_FuturesMarketAidingGoldPriceSuppressionNewlyReleasedStateDeptCab.html iehi-feed-61392 Tue, 03 Jan 2017 15:12:53 GMT First China-U.K. Freight Train Departs as Xi Seeks to Lift Trade http://implode-explode.com/viewnews/2017-01-03_FirstChinaUKFreightTrainDepartsasXiSeekstoLiftTrade.html London becomes the 15th European city with direct trains from China following the unveiling of Xi's so-called Belt-and-Road initiative in 2013. The plan put transport links at the center of efforts to create a modern Silk Road and boost commercial ties to markets across Asia, Africa, the Middle East and Europe.

While the train can carry about 200 containers, versus 20,000 on a large cargo vessel, the trip takes about half as long as a 30-day sailing between East Asia and northern Europe. That will make rail a competitive option when maritime shipments are held up or miss the booked departure, especially compared with airfreight, which costs twice as much, according to Michael White, operations director at Brunel Shipping, the U.K. booking agent for the service.

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iehi-feed-61385 Mon, 02 Jan 2017 13:52:40 GMT Forecast 2017: The Wheels Finally Come Off - KUNSTLER http://implode-explode.com/viewnews/2017-01-02_Forecast2017TheWheelsFinallyComeOffKUNSTLER.html The American people have been punked by their own government and their central bank, the Federal Reserve, for years and the jig is now up. In 2017 both will lose their authority and legitimacy, a very grave matter for the survival of this republic.

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Get this: the Fed is completely full of shit. It is terrified of the conditions it has set up and it has no idea what to do next. The "data" that it claims to be so dependent on is arrantly fake. The government's official unemployment number at Christmas 2016 was 4.6 percent. It's a compound lie....

In 2015 they didn't do anything until the very last Fed meeting of the year when they raised the Fed Funds rate 25 basis point (that's a measly one-quarter of a percent). They raised, they said, because they were "confident" about the economy. No, that's not why. They did it because they talked about it all year without doing anything and their credibility was on the line. They also promised four rate hikes altogether in 2016, which they then failed to carry out...

The Fed Funds rate is one thing. As it happens, the Fed does not directly control the interest rates on US treasury bonds, and they have been rising shockingly through the second half of 2016. The crucial ten-year treasury rate has gone up a hundred percent since the summer. Because bond values move inversely to bond rates, the price of ten-year treasuries has tanked, inducing trillions of dollars in losses to bond-holders around the world. The bond market is many times larger than the stock markets. Bonds have been in a bull market since the early 1980s and that bull rolled over in mid-2016...

A sharply rising interest rate on the ten-year Treasury bond will thunder through the system. A lot of other basic interest costs are keyed to the ten-year bond rate, especially home mortgages, apartment rentals (landlords hold mortgages), and car payments. When the ten year bond rate goes up, so do mortgage payments. When mortgage rates go up, house prices go down, because fewer people are in a position to buy a house at higher mortgage rates, and rents go up (more competition among people who can't buy a house). Zero Interest Rate Policy (ZIRP), in force for ten years, has driven house prices back to stratospheric levels. They are now primed to fall, perhaps severely, leaving many homeowners "underwater," with houses worth way less on the market than the amount of mortgage left to pay off. The re-financing market is dead. Housing starts were already down by a stunning 19 percent in November. Automobile sales are rolling over. Manufacturing and retail sales numbers are down at year end. What's up: stocks, stocks, stocks.

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iehi-feed-61369 Tue, 27 Dec 2016 09:33:58 GMT Trump Can Do a Lot That's Useful on China-US Trade http://implode-explode.com/viewnews/2016-12-27_TrumpCanDoaLotThatsUsefulonChinaUSTrade.html The corporate tax reform is at the top of Mr. Trump's agenda, and that is perhaps one of the most effective trade signals he can send to China. Indeed, reducing the incentive for the exodus of American manufacturing, and bringing some of it back, would also stop large technology transfers that are part of mandatory Sino-American joint ventures for American firms doing business in China.

Investors, therefore, should pay no attention to trade war noises. Mr. Trump has powerful cards to play in a trade negotiation with China,and in the discussion of political and security issues that need to be clarified.

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iehi-feed-61332 Thu, 15 Dec 2016 22:16:58 GMT The Collapse In Economic Mobility's Main Cause: Inequality, Not Low Growth http://implode-explode.com/viewnews/2016-12-15_TheCollapseInEconomicMobilitysMainCauseInequalityNotLowGrowth.html iehi-feed-61316 Wed, 14 Dec 2016 15:51:36 GMT Fake police walk off with $5M of gold in Japan http://implode-explode.com/viewnews/2016-12-14_Fakepolicewalkoffwith5MofgoldinJapan.html iehi-feed-61303 Tue, 13 Dec 2016 18:21:57 GMT Trumpxuberance... Until It's Not - KUNSTLER http://implode-explode.com/viewnews/2016-12-13_TrumpxuberanceUntilItsNotKUNSTLER.html iehi-feed-61298 Mon, 12 Dec 2016 16:01:07 GMT Oil prices leap after Russia and others agree to output cuts http://implode-explode.com/viewnews/2016-12-12_OilpricesleapafterRussiaandothersagreetooutputcuts.html Oil has soared above $54 a barrel to its highest level in nearly a year and a half. U.S. crude futures jumped more than 5% on Monday after Russia and a bunch of other big producers agreed over the weekend to join OPEC members in cutting their output next month.

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The group of non-OPEC nations -- which includes Mexico, Kazakhstan and Oman -- will aim to reduce their production by 558,000 barrels a day, according to a statement. That follows OPEC's deal last month to cut its overall production by 1.2 million barrels a day.

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"The question which troubles some investors is whether the higher oil price will give the U.S.'s shale oil production a new lease of life," said Naeem Aslam, chief analyst at Think Markets in London.

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