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

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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.

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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-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-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-54440 Tue, 22 Jul 2014 01:02:11 GMT Deadly game of human chess | David McWilliams http://implode-explode.com/viewnews/2014-07-21_DeadlygameofhumanchessDavidMcWilliams.html iehi-feed-54438 Mon, 21 Jul 2014 18:08:45 GMT Ukraine crash: Separatists reportedly turning over bodies, black boxes http://implode-explode.com/viewnews/2014-07-21_UkrainecrashSeparatistsreportedlyturningoverbodiesblackboxes.html 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-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-54430 Mon, 21 Jul 2014 13:01:48 GMT SNB Agrees Swap Line With PBOC as Swiss-China Trade Rises http://implode-explode.com/viewnews/2014-07-21_SNBAgreesSwapLineWithPBOCasSwissChinaTradeRises.html iehi-feed-54431 Mon, 21 Jul 2014 13:01:48 GMT SNB Agrees Swap Line With PBOC as Swiss-China Trade Rises http://implode-explode.com/viewnews/2014-07-21_SNBAgreesSwapLineWithPBOCasSwissChinaTradeRises.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%

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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.

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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-54421 Sat, 19 Jul 2014 19:37:15 GMT David Trott's Dirty Business Secret He Doesn't Want You To Know http://implode-explode.com/viewnews/2014-07-19_DavidTrottsDirtyBusinessSecretHeDoesntWantYouToKnow.html 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-54415 Sat, 19 Jul 2014 15:31:01 GMT Exclusive: SEC targets 10 firms in high frequency trading probe - SEC documents http://implode-explode.com/viewnews/2014-07-19_ExclusiveSECtargets10firmsinhighfrequencytradingprobeSECdocument.html iehi-feed-54414 Fri, 18 Jul 2014 18:19:42 GMT Bitcoin Regulations Drafted in New York Will Make Bitcoin Boring http://implode-explode.com/viewnews/2014-07-18_BitcoinRegulationsDraftedinNewYorkWillMakeBitcoinBoring.html iehi-feed-54406 Thu, 17 Jul 2014 18:15:36 GMT Big Banks Hit With Monster $250 Billion Lawsuit in Housing Crisis http://implode-explode.com/viewnews/2014-07-17_BigBanksHitWithMonster250BillionLawsuitinHousingCrisis.html Investors led by BlackRock, the world's largest asset manager, and PIMCO, the world's largest bond-fund manager, have sued some of the world's largest banks for breach of fiduciary duty as trustees of their investment funds. The investors are seeking damages for losses surpassing $250 billion. That is the equivalent of one million homeowners with $250,000 in damages suing at one time.

The defendants are the so-called trust banks that oversee payments and enforce terms on more than $2 trillion in residential mortgage securities. They include units of Deutsche Bank AG, U.S. Bank, Wells Fargo, Citigroup, HSBC Holdings PLC, and Bank of New York Mellon Corp. Six nearly identical complaints charge the trust banks with breach of their duty to force lenders and sponsors of the mortgage-backed securities to repurchase defective loans.

Why the investors are only now suing is complicated, but it involves a recent court decision on the statute of limitations...

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