Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us 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-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.

]]>
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-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-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.

...

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)

...

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.

]]>
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

]]>
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 iehi-feed-56570 Fri, 24 Apr 2015 12:29:53 GMT Bankruptcies Suddenly Soar Across Corporate America, Worst First Quarter Since 2009 http://implode-explode.com/viewnews/2015-04-24_BankruptciesSuddenlySoarAcrossCorporateAmericaWorstFirstQuarterS.html This isn't the list of a single troubled sector that ran out of luck. This isn't a single issue, such as the oil-price collapse. It's a broader phenomenon: too much debt across a struggling economy. And now the reckoning has started.

The list only contains publicly traded companies that have already filed. But the energy sector, for example, is full of companies that are owned by private equity firms, such as natural gas driller Samson Resources, which warned in March that it might resort to bankruptcy to restructure its debt. Similar troubles are building up in other sectors.

]]>
iehi-feed-56568 Thu, 23 Apr 2015 17:14:58 GMT The Iron Throne Is Heading Toward The Fiscal Cliff http://implode-explode.com/viewnews/2015-04-23_TheIronThroneIsHeadingTowardTheFiscalCliff.html iehi-feed-56567 Thu, 23 Apr 2015 15:11:13 GMT Securing Your Assets When Financial Privacy Is Dead http://implode-explode.com/viewnews/2015-04-23_SecuringYourAssetsWhenFinancialPrivacyIsDead.html Given what has happened, it's only prudent to assume that sooner or later all the details of your financial life will come to rest in a government computer--if they're not sitting there already. You should plan accordingly. We live in a world where pretty much every penny you earn, save, and spend leaves a permanent record somewhere, and that can be retrieved for scrutiny by government employees at any time.

...

While privacy for financial assets like bank and brokerage accounts is essentially dead, non-financial assets like foreign real estate are a different story. Owning foreign real estate is one of the very few ways Americans can legally keep some of their wealth abroad while still retaining a measure of privacy.

]]>
iehi-feed-56566 Thu, 23 Apr 2015 15:09:10 GMT JPMorgan Chase Bans Storage of Cash, Buillion in its Safety Deposit Boxes http://implode-explode.com/viewnews/2015-04-23_JPMorganChaseBansStorageofCashBuillioninitsSafetyDepositBoxes.html iehi-feed-56564 Thu, 23 Apr 2015 14:56:17 GMT Leaked: Obama aide ready for diplomatic war of attrition with Russia http://implode-explode.com/viewnews/2015-04-23_LeakedObamaaidereadyfordiplomaticwarofattritionwithRussia.html iehi-feed-56558 Thu, 23 Apr 2015 01:04:26 GMT Obama's fast-track trade plan forced to slow start by liberals http://implode-explode.com/viewnews/2015-04-22_Obamasfasttracktradeplanforcedtoslowstartbyliberals.html iehi-feed-56557 Thu, 23 Apr 2015 00:35:44 GMT REPORT: JPMORGAN CHASE BANS STORAGE OF CASH IN ITS SAFETY DEPOSIT BOXES http://implode-explode.com/viewnews/2015-04-22_REPORTJPMORGANCHASEBANSSTORAGEOFCASHINITSSAFETYDEPOSITBOXES.html Some JPMorgan Chase customers are receiving letters informing them that the bank will no longer allow cash to be stored in safety deposit boxes. ]]> iehi-feed-56556 Wed, 22 Apr 2015 19:28:57 GMT U.S. Economy Not Working for Most of America: Stiglitz http://implode-explode.com/viewnews/2015-04-22_USEconomyNotWorkingforMostofAmericaStiglitz.html iehi-feed-56547 Tue, 21 Apr 2015 15:52:39 GMT Cash Sales (Still) Made Up 39% of All Home Sales in Jan 2015 http://implode-explode.com/viewnews/2015-04-21_CashSalesStillMadeUp39ofAllHomeSalesinJan2015.html iehi-feed-56546 Tue, 21 Apr 2015 15:40:52 GMT Sanctions will cost Russia more than $100 billion: Medvedev http://implode-explode.com/viewnews/2015-04-21_SanctionswillcostRussiamorethan100billionMedvedev.html iehi-feed-56545 Tue, 21 Apr 2015 12:29:44 GMT Stunned Greeks React To Initial Capital Controls And The "Decree To Confiscate Reserves", And They Are Not Happy http://implode-explode.com/viewnews/2015-04-21_StunnedGreeksReactToInitialCapitalControlsAndTheDecreeToConfisca.html iehi-feed-56542 Mon, 20 Apr 2015 23:45:04 GMT Caveat creditor as IMF chiefs mull unpayable debts http://implode-explode.com/viewnews/2015-04-20_CaveatcreditorasIMFchiefsmullunpayabledebts.html The International Monetary Fund has sounded the alarm on the exorbitant levels of debt across the world, this time literally... A baby boom and surging work-force enabled us to grow out of debt in the 1950s and 1960s without noticing it. No such outcome looks plausible today...

The report warned of a "persistent reduction" in the global growth rate since the Great Recession of 2008-2009, with no sign yet of a return to normal. "Lower potential growth will make it more difficult to reduce high public and private debt ratios," it said... the Fund's underlying message is that sky-high debt ratios and old-age populations are a dangerous mix, leaving the world prone to the "Japanese" diseases of deflation and atrophy.

...

[The notion of default] touches a raw nerve, for that is more or less what may happen within weeks if an angry Greece - aggrieved at the way it was sacrificed to save Europe's banks in 2010 - becomes the first developed country to miss a payment to the IMF, and perhaps the first of a long string of debtor-nations to turn the tables on their foreign creditors. Athens is where it all begins.

We would also add, the debt itself is probably suppressing global growth, but you won't see central bankers admit this (yet, all this observation requires is the leap of faith that diminishing returns in GDP with each additional dollar of debt eventually go to zero GDP/additional debt, and perhaps negative).

]]>