Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-57614 Tue, 01 Sep 2015 20:05:37 GMT Packed trains reach Germany as refugee visa checks are waived http://implode-explode.com/viewnews/2015-09-01_PackedtrainsreachGermanyasrefugeevisachecksarewaived.html 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).

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iehi-feed-57613 Tue, 01 Sep 2015 17:38:28 GMT Murder Rates Rising Sharply in Many U.S. Cities http://implode-explode.com/viewnews/2015-09-01_MurderRatesRisingSharplyinManyUSCities.html ... 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?"

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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 http://implode-explode.com/viewnews/2015-09-01_DuellingIndicatorsEuroAreaUnemploymentFallstoLowestLevelSinceEar.html 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 http://implode-explode.com/viewnews/2015-09-01_ThirdGreekBailoutSuddenlyInJeopardyCreditorsWarnCashMayBeDelayed.html 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

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

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iehi-feed-57610 Tue, 01 Sep 2015 17:16:15 GMT The Best And Worst Performing Assets In August: It Was A Good Month For "Pet Rocks," Bad For HFs http://implode-explode.com/viewnews/2015-09-01_TheBestAndWorstPerformingAssetsInAugustItWasAGoodMonthForPetRock.html iehi-feed-57609 Mon, 31 Aug 2015 11:50:08 GMT Looting Made Easy: the $2 Trillion Buyback Binge - Mike Whitney http://implode-explode.com/viewnews/2015-08-31_LootingMadeEasythe2TrillionBuybackBingeMikeWhitney.html iehi-feed-57608 Mon, 31 Aug 2015 11:48:53 GMT China punishes 197 over stock market and Tianjin 'rumours' http://implode-explode.com/viewnews/2015-08-31_Chinapunishes197overstockmarketandTianjinrumours.html Families of China's 'disappeared' say country is a place of 'fear and panic'.]]> iehi-feed-57607 Mon, 31 Aug 2015 11:35:25 GMT Taleb's Fund made $1 billion amidst August market turmoil http://implode-explode.com/viewnews/2015-08-31_TalebsFundmade1billionamidstAugustmarketturmoil.html iehi-feed-57606 Mon, 31 Aug 2015 11:30:51 GMT Protesters Attempt to Break Into Ukraine's Parliament, Clash With Police http://implode-explode.com/viewnews/2015-08-31_ProtestersAttempttoBreakIntoUkrainesParliamentClashWithPolice.html iehi-feed-57605 Mon, 31 Aug 2015 11:25:40 GMT Ukraine's Economic Troubles Could Trigger Migrant Apocalypse in Europe http://implode-explode.com/viewnews/2015-08-31_UkrainesEconomicTroublesCouldTriggerMigrantApocalypseinEurope.html iehi-feed-57604 Sun, 30 Aug 2015 23:17:16 GMT Fed Minutes Are Minutia Except For One Critically Important, Widely Ignored Detail - The Wall Street Examiner http://implode-explode.com/viewnews/2015-08-30_FedMinutesAreMinutiaExceptForOneCriticallyImportantWidelyIgnored.html iehi-feed-57603 Sun, 30 Aug 2015 22:53:39 GMT NYSE Margin Debt Downturn May Herald End of Bull http://implode-explode.com/viewnews/2015-08-30_NYSEMarginDebtDownturnMayHeraldEndofBull.html iehi-feed-57602 Sun, 30 Aug 2015 22:44:49 GMT China is in a serious bind but this is not yet a 'Lehman' moment http://implode-explode.com/viewnews/2015-08-30_ChinaisinaseriousbindbutthisisnotyetaLehmanmoment.html My own view - with low conviction, as they say in the hedge fund world - is that China will weather this immediate storm, though with difficulty. Fiscal spending is growing at 13pc again. There is already enough juice in the pipeline to flatter growth for a few more months. The housing maket is coming back from the dead. Services are growing at a 10pc pace.

Another stop-go cycle is picking up. Each time it is weaker, but it is still enough to delay the denouement until next year, and next year is an epoch away in market time.

Watch the offshore exchange rate for the renminbi. If that keeps spiraling further away from the inland rate, we will know that matters are out of hand, and then we really will have a global currency crisis. We are not there yet.

Interesting opinion, though we note that in brushing off the probability of a market crash (following on what started in the last couple weeks), AEP ignores the de-leveraging effect of a Fed rate rise (funny because he simultaneously says the US economy is "picking up steam")

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iehi-feed-57601 Sun, 30 Aug 2015 22:18:50 GMT Investors are dumping stocks like it's 2007 (OR WORSE) http://implode-explode.com/viewnews/2015-08-30_Investorsaredumpingstockslikeits2007ORWORSE.html iehi-feed-57599 Sun, 30 Aug 2015 11:27:58 GMT Why we need to lie to ourselves about the state of the economy http://implode-explode.com/viewnews/2015-08-30_Whyweneedtolietoourselvesaboutthestateoftheeconomy.html Over the last 35 years, the economic growth necessary to increase living standards, increase wealth and manage growing inequality has been based increasingly on rising borrowings and financial rather than real engineering. There was reliance on debt-driven consumption. It resulted in global trade and investment imbalances, such as that between China and the US or Germany and the rest of Europe. 

...

The 2008 global financial crisis was a warning of the unstable nature of these arrangements. But there has been no meaningful change. Since 2007, global debt has grown by US$57 trillion, or 17 per cent of the world's gross domestic product. In many countries, debt has reached unsustainable levels, and it is unclear how or when it is to be reduced without defaults that would wipe out large amounts of savings.

...

For most people, the effect of these problems is unemployment, reduced job security, the deskilling of many professions and stagnant incomes. Home ownership is increasingly out of reach for many. Retirement may become a luxury for all but a few, reflecting increasing difficulty in building sufficient savings. In effect, living standards will decline. Future generations will bear the bulk of the cost as they are left to tackle the unresolved problems of their forebears.

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iehi-feed-57597 Sun, 30 Aug 2015 11:22:42 GMT Mass Protests Sweep Malaysian Capital As Anger At Goldman-Backed Slush Fund Boils Over http://implode-explode.com/viewnews/2015-08-30_MassProtestsSweepMalaysianCapitalAsAngerAtGoldmanBackedSlushFund.html iehi-feed-57596 Sun, 30 Aug 2015 11:19:31 GMT Fed, ECB, BOE Officials All Say They See Inflation Rising http://implode-explode.com/viewnews/2015-08-30_FedECBBOEOfficialsAllSayTheySeeInflationRising.html iehi-feed-57595 Sun, 30 Aug 2015 11:16:11 GMT Central banks can't save the markets from a crash. They shouldn't even try http://implode-explode.com/viewnews/2015-08-30_CentralbankscantsavethemarketsfromacrashTheyshouldnteventry.html iehi-feed-57594 Sun, 30 Aug 2015 11:12:16 GMT As tragedies shock Europe, a bigger refugee crisis looms in the Middle East http://implode-explode.com/viewnews/2015-08-30_AstragediesshockEuropeabiggerrefugeecrisisloomsintheMiddleEast.html Those reaching Europe represent a small percentage of the 4 million Syrians who have fled into Lebanon, Jordan, Turkey and Iraq, making Syria the biggest single source of refugees in the world and the worst humanitarian emergency in more than four decades.

As the fighting grinds into a fifth year, the realization is dawning on aid agencies, the countries hosting the refugees and the Syrians themselves that most won't be going home anytime soon, presenting the international community with a long-term crisis that it is ill-equipped to address and that could prove deeply destabilizing, for the region and the wider world.''

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iehi-feed-57593 Sun, 30 Aug 2015 10:58:43 GMT Feds Stanley Fischer Sees Inflation Rebound, Allowing Gradual Rate Hikes http://implode-explode.com/viewnews/2015-08-30_FedsStanleyFischerSeesInflationReboundAllowingGradualRateHikes.html