Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-57647 Sat, 05 Sep 2015 09:46:16 GMT Varoufakis: I don't think Tsipras believes in bailout iehi-feed-57644 Sat, 05 Sep 2015 09:38:04 GMT Angela Merkel Defeated by a 3-Year Old Dead Boy iehi-feed-57643 Sat, 05 Sep 2015 00:47:22 GMT Secrets Of A Retired Maestro Of White Collar Crime iehi-feed-57642 Fri, 04 Sep 2015 18:16:07 GMT Greek Gov. Says 1 bln EUR Needed For Refugee Crisis iehi-feed-57637 Fri, 04 Sep 2015 09:38:48 GMT Evaporating Job-to-Job Transitions Driving Growing Bipolar Labor Market iehi-feed-57634 Thu, 03 Sep 2015 17:46:03 GMT Wall Street and the Military are Draining Americans High and Dry ... the government in the USA owes $46.1 trillion (not $18 trillion) and the US GDP is $14.77 trillion (not $17.9 trillion), as of June 2015, truth be told. 46.1 / 14.77 = 312%. Total government debt in the US is at 312% of GDP, which is well past the point of collapse for any country.


All of the $5.5 trillion owed by the US Federal government in 1996 was found by the Brookings Institute to be because of $5.5 trillion in costs for US nuclear weapons from 1940 to 1996. Since 1996, the military / intelligence budgets (including war costs) have averaged $0.85 trillion a year. $0.85 trillion x 20 years plus $5.5 trillion equals $22.5 trillion.

... The Roman Empire declined and fell due to excessive military costs. The US empire will decline and fall if military/intel/war/secret police costs are not reigned in. Eliminating money in politics, via public financing of elections, is needed as is effective oversight of wall street. Unregulated hedge fund vultures and wall street bankers writing hundreds of trillions of dollars in derivatives without the money to pay and without any oversight is a recipe for financial collapse in the USA.

iehi-feed-57633 Thu, 03 Sep 2015 17:32:37 GMT View on China's meltdown: the end of a flawed globalisation iehi-feed-57630 Thu, 03 Sep 2015 10:08:41 GMT Tens of thousands of companies fear closure in coming months iehi-feed-57629 Thu, 03 Sep 2015 10:06:27 GMT Drowned Kurish Refugee Boy Had Been Denied Papers Italy revives border controls (at Bavaria's behest; supposedly temporarily.)]]> iehi-feed-57628 Thu, 03 Sep 2015 10:00:58 GMT SILVER MARKET OUTBREAK: Surging Physical Demand & Falling Inventories iehi-feed-57627 Thu, 03 Sep 2015 09:43:36 GMT This Is What Greece's Refugee Crisis Really Looks Like iehi-feed-57626 Thu, 03 Sep 2015 09:39:48 GMT Say Goodbye to Normal | KUNSTLER iehi-feed-57625 Thu, 03 Sep 2015 03:29:06 GMT Catholic Priest Pleads Guilty To Mail Fraud For Pilfering $573,000 In Funds iehi-feed-57623 Wed, 02 Sep 2015 12:53:04 GMT Alibaba Is the Canary in China's Coal Mine iehi-feed-57620 Wed, 02 Sep 2015 12:38:11 GMT Stanley Fischer Speaks: Airballs From A Dangerous Academic Fool | David Stockman iehi-feed-57617 Tue, 01 Sep 2015 20:31:19 GMT Beijing's incompetence is now China's biggest problem iehi-feed-57614 Tue, 01 Sep 2015 20:05:37 GMT Packed trains reach Germany as refugee visa checks are waived Packed trains have arrived in Austria and Germany after Hungarian police suddenly allowed migrants camped around Budapest rail stations to leave the country without visa checks.

As men, women and children -- many fleeing Syria's civil war -- continued to arrive from the east, Hungarian authorities let thousands of undocumented people travel on towards Germany, the favoured destination for many. The European Union member -- part of the bloc's passport-free Schengen zone -- had previously insisted that EU rules prevented them from letting people without visas travel onwards to the west.

But see also Chaos in Budapest train station amid Europe's migrant crisis, and on a particularly happy note, Icelanders call on government to take in more Syrian refugees (over 12,000 Icelanders have volunteered to take in refugees).

iehi-feed-57613 Tue, 01 Sep 2015 17:38:28 GMT Murder Rates Rising Sharply in Many U.S. Cities ... many top police officials say they are seeing a growing willingness among disenchanted young men in poor neighborhoods to use violence to settle ordinary disputes.

... with at least 35 of the nation's cities reporting increases in murders, violent crimes or both, according to a recent survey, the spikes are raising alarm among urban police chiefs. The uptick prompted an urgent summit meeting in August of more than 70 officials from some of the nation's largest cities. A Justice Department initiative is scheduled to address the rising homicide rates as part of a conference in September.

... Less debated [than the race-hate theory] is the sense among police officials that more young people are settling their disputes, including one started on Facebook, with guns.

... "That is not a situation that can be solved by policing," Superintendent Harrison said. "It speaks to a culture of violence deeply ingrained into a community -- a segment of the population where people are resolving their problems in a violent way."

... "I have to find a way for these young kids to understand that they have a stake in society," said Mr. Barrett [the Mayor of Milwaukee], who has met with pastors, community leaders and others to discuss the killings.

... "Everybody's struggling out here, trying to stay afloat, with no jobs, no opportunities," said Bethann Maclin, whose 13-year-old daughter stays mostly inside these days. "The violence won't end. Where do you start?"

iehi-feed-57612 Tue, 01 Sep 2015 17:25:34 GMT Duelling Indicators? Euro-Area Unemployment Falls to Lowest Level Since Early 2012; While Global PMIs Languish Two-Thirds Of Global PMIs Deteriorate In August. Clear as mud, eh? No doubt, as we suspect, the OECD standard legerdemain of dramatically undercounting "unemployment" is partially to blame...]]> iehi-feed-57611 Tue, 01 Sep 2015 17:20:08 GMT Third Greek Bailout Suddenly In Jeopardy: Creditors Warn Cash May Be Delayed If Elections Don't Go As Desired According to Market News, "Greece's international creditors may delay the first review of the country's bailout until November, multiple EU sources told MNI Tuesday, pushing talks on potential debt relief further down the road as Greece prepares for snap national elections on September 20."

And just in case it was not clear that Greek sovereignty is now entirely conditional on the Greek people voting precisely as the Troika requires, and for a continuation of the austerity terms delineated in the 3rd Greek bailout, MNI reports that "officials will also stress that any new government that emerges from this month's poll must meet the current bailout terms in order to release the E3 billion pending from the its first loan tranche and have already warned the interim government to continue with the implementation of prior actions set for September... [but] Syriza's lead, which as recently as a month ago was seen as insurmountable, has dwindled to almost nothing


Furthermore, the biggest hurdle to any Greek formalized bailout, the IMF's participation, remains anything but resolved...