Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-61546 Mon, 23 Jan 2017 17:56:38 GMT Trans-Pacific Partnership trade deal withdrawal Trump's first executive action Monday http://implode-explode.com/viewnews/2017-01-23_TransPacificPartnershiptradedealwithdrawalTrumpsfirstexecutiveac.html President Donald Trump on Monday will start to unravel the behemoth trade deal he inherited from his predecessor, as he signed an executive action to withdraw from the negotiating process of the Trans-Pacific Partnership.

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The TPP was negotiated under former President Barack Obama, but never ratified by Congress, so withdrawing from it will not have an immediate, real effect on US economic policies, although it does signal a new and very different US outlook on trade under Trump.

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iehi-feed-61545 Mon, 23 Jan 2017 17:55:00 GMT Carrot and Stick: Trump threatens business leaders with border tax, Offers "Massive" Tax and Regulation Cuts http://implode-explode.com/viewnews/2017-01-23_CarrotandStickTrumpthreatensbusinessleaderswithbordertaxOffersMa.html "If you go to another country ... we are going to be imposing a very major border tax on the product when it comes in, which I think is fair," Trump said. "All you have to do is stay. Don't leave. Don't fire your people."

Sources told CNN last month that Trump was eyeing an across-the-board tax on imports as high as 10% -- an idea business leaders have bristled at.

Trump said he would aim to cut regulations by as much as 75% -- including by slashing environmental protections -- which would streamline the process for companies to build new factories in the US.

Of course now he is trying to deal based on things that primarily involve Congress, so this will get interesting. At some point companies may start calling Trump's bluff (they may have already, with a shift in tactics towards playing up "job creation" that is either questionable accounting or was going to happen anyways).

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iehi-feed-61544 Mon, 23 Jan 2017 17:50:17 GMT The US dollar is now overvalued against almost every currency in the world http://implode-explode.com/viewnews/2017-01-23_TheUSdollarisnowovervaluedagainstalmosteverycurrencyintheworld.html iehi-feed-61543 Mon, 23 Jan 2017 16:46:13 GMT China's central bank ‘playing dangerous game' to prop up yuan; Calls to allow float grow http://implode-explode.com/viewnews/2017-01-23_ChinascentralbankplayingdangerousgametopropupyuanCallstoallowflo.html China's central bank is playing a dangerous game using the country's foreign reserves to defend the yuan because it could leave the nation defenceless in an increasingly volatile world, a state researcher has warned.

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Zhang call's for Beijing to reverse tack and abandon its heavy intervention in the foreign exchange market is gaining traction among researchers.

Zhang Bin, another researcher at the Chinese Academy of Social Sciences, agreed that Beijing should free up controls on the yuan's exchange rate by reducing government intervention in the market.

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Tsinghua University professor Zhu Ning also said earlier that Beijing should let the market determine the yuan's exchange rate.

The prospects of this approach becoming a policy option appear to be rising, especially with the decline in the reserves.

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iehi-feed-61542 Mon, 23 Jan 2017 15:31:31 GMT Trump's massive infrastructure, defense plans will lead to ruin - Ron Paul http://implode-explode.com/viewnews/2017-01-23_TrumpsmassiveinfrastructuredefenseplanswillleadtoruinRonPaul.html iehi-feed-61541 Sun, 22 Jan 2017 21:19:33 GMT USPS's Brief Postage "Deflation" Ends After a Mere 8 Months as Price of Forever Stamp Increases http://implode-explode.com/viewnews/2017-01-22_USPSsBriefPostageDeflationEndsAfteraMere8MonthsasPriceofForeverS.html iehi-feed-61540 Sun, 22 Jan 2017 21:00:06 GMT A whole mall near Pittsburgh just sold for $100 http://implode-explode.com/viewnews/2017-01-22_AwholemallnearPittsburghjustsoldfor100.html The reason? As explained by money, it's that the mall simply hasn't done well. Though the Galleria isn't even 15 years old, it's never performed to expectations, and the changing patterns of the surrounding populace plus the overall trend away from mall shopping in many areas combined to spell its doom.

Analysts suggest that it's simply too large for the area it serves, and while it still has anchors like Macy's and Dick's Sporting Goods, the Galleria is almost half empty. Without getting into technical jargon, the mall wasn't truly open to outside bids, as Wells Fargo Bank more or less bought the mall from itself after foreclosing on it two years ago.

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iehi-feed-61539 Sun, 22 Jan 2017 20:41:50 GMT Beijing: US 'Word Bombs' Won't Stop China's Power Projection http://implode-explode.com/viewnews/2017-01-22_BeijingUSWordBombsWontStopChinasPowerProjection.html China intends to carry out military exercises farther from its shores, the People's Daily, the main publication of the ruling Communist Party of China, explained, adding that blue-water drills like those recently conducted by China's aircraft carrier battle group will become the norm... "From now on, Chinese military training in distant seas will be routine," the People's Daily stated.

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A second, independently-produced aircraft carrier is close to completion; however, it will likely be some time before it is commissioned into the PLAN and deployed.

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iehi-feed-61536 Sun, 22 Jan 2017 15:18:38 GMT Draghi Says There's a Target-2 Toll For Leaving Euro; Italy's Bill Would Be $383.1 bln http://implode-explode.com/viewnews/2017-01-22_DraghiSaysTheresaTarget2TollForLeavingEuroItalysBillWouldBe3831b.html Any country leaving the euro zone would need to settle its claims or debts with the bloc's payments system before severing ties, European Central Bank President Mario Draghi said.

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Based on data to end-November from the Target 2 payment system, that would leave Italy with a 358.6 billion euro ($383.1 billion) bill. The system records flows of payments between euro zone countries.

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iehi-feed-61534 Sun, 22 Jan 2017 15:13:15 GMT Trump Team in Talks with U.K. on Post-Brexit Trade Deal http://implode-explode.com/viewnews/2017-01-22_TrumpTeaminTalkswithUKonPostBrexitTradeDeal.html The Trump administration will lay the groundwork this week for a trade deal between the U.S. and the U.K. that would take effect after Britain leaves the European Union, a White House aide said, as Prime Minister Theresa May becomes the first foreign leader to visit the new president.

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Trump officials believe their discussions with May's government encouraged her to be more aggressive in exiting the EU. She can use any American support to argue the U.K. will prosper outside the bloc although she risks inflaming tensions with European leaders if they suspect her government is actively negotiating trade deals while still an EU member.

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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-61530 Sat, 21 Jan 2017 15:58:55 GMT Mnuchin Grapples With the Strong-Dollar Dilemma Left by Rubin http://implode-explode.com/viewnews/2017-01-21_MnuchinGrapplesWiththeStrongDollarDilemmaLeftbyRubin.html iehi-feed-61529 Sat, 21 Jan 2017 15:51:41 GMT Trump issues executive order to start rolling back Obamacare http://implode-explode.com/viewnews/2017-01-21_TrumpissuesexecutiveordertostartrollingbackObamacare.html The order does not change the law, but could have a significant impact nonetheless. It directs the secretary of health and human services, as well as other agencies, to interpret regulations as loosely as allowed to minimize the financial burden on individuals, insurers, health care providers and others.

It stressed that agencies can "waive, defer, grant exemptions from or delay implementation of any provision or requirement" of Obamacare that imposes a burden "to the maximum extent permitted by law."

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In keeping with longstanding Republican beliefs, the order also looks to give states more flexibility and control over their health care markets and to allow insurers to offer policies across state lines.

All of these actions will start to shift the nation's health care rules toward Republican ideas. And it will allow the Trump administration to chip away at the law going forward.

However, little can be done until a health secretary -- and other key HHS officials -- are in place to work on changing those guidance and regulations. Trump's choice to lead HHS, Tom Price, faces the Senate Finance Committee on Tuesday.

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"He has been told that he needs to comply with the law," said Timothy Jost, an emeritus professor at Washington and Lee University School of Law, "but is directing the agencies to begin taking steps towards reducing regulatory requirements and giving more discretion to the states. It's going to take time."

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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-61527 Sat, 21 Jan 2017 15:41:32 GMT Trump's Magic Wand: I Simply Don't Buy It! http://implode-explode.com/viewnews/2017-01-21_TrumpsMagicWandISimplyDontBuyIt.html Since we're not in a supply-side crisis like we were in the late 1970s and early 1980s when Ronald Reagan came in, those solutions aren't the answer. They worked then. They will NOT work now. And who are Trump's chief economic advisors? Larry Kudlow, Stephen Moore, and Art Laffer -- all zealous supply-siders.

Instead, we're in a demand-side crisis like what we saw in the early 1930s with global oversupply. In such a situation, cutting taxes will only create even faster growing deficits and debt, not investment in new capacity and jobs.

Besides, does Trump really think a Republican Congress is going to just approve of massive tax cuts and infrastructure investments that raise our already out of control public debt, just as the debt ceiling has to be raised above $20 trillion?

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President Trump was inaugurated today. I sincerely wish him the best of luck. But I have serious doubts that he'll last his first year without a major debacle and backlash.

At this point I would give the Trump rally through about July and then we could see one of those first, devastating bubble crashes that sees the markets down 30% to 40% in a few months.

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iehi-feed-61526 Fri, 20 Jan 2017 23:04:23 GMT Now we care about how Steve Mnuchin at OneWest Bank handled foreclosures? | Mandelman Matters http://implode-explode.com/viewnews/2017-01-20_NowwecareabouthowSteveMnuchinatOneWestBankhandledforeclosuresMan.html iehi-feed-61524 Fri, 20 Jan 2017 15:18:51 GMT Freshman congressman with guts is ready to file articles of impeachment against Trump http://implode-explode.com/viewnews/2017-01-20_Freshmancongressmanwithgutsisreadytofilearticlesofimpeachmentaga.html iehi-feed-61522 Fri, 20 Jan 2017 02:07:20 GMT USGov Has Been Massively Under-Reporting Student Loan Delinquencies Due To "Glitch" http://implode-explode.com/viewnews/2017-01-19_USGovHasBeenMassivelyUnderReportingStudentLoanDelinquenciesDueTo.html iehi-feed-61521 Thu, 19 Jan 2017 23:38:50 GMT Dimon: Euro Zone May Not Survive If Economic Concerns Are Ignored http://implode-explode.com/viewnews/2017-01-19_DimonEuroZoneMayNotSurviveIfEconomicConcernsAreIgnored.html Dimon said he had hoped European Union leaders would examine what caused the U.K. to vote to leave and then make changes. That hasn't happened, and if nationalist politicians including France's Marine Le Pen rise to power in elections across the region "the euro zone may not survive," Dimon, 60, said in a Bloomberg Television interview with John Micklethwait.

"What went wrong is going wrong for everybody, not just going wrong for Britain, but in some ways it looks like they're kind of doubling down," Dimon said in the interview Wednesday at the annual meeting of the World Economic Forum in Davos, Switzerland. Unless leaders address underlying concerns, "you're going to have the same political things about immigration, the laws of the country, how much power goes to Brussels."

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iehi-feed-61520 Thu, 19 Jan 2017 23:26:32 GMT How Deutsche Bank Made a $462 Million Loss Disappear (Monte Pasci) http://implode-explode.com/viewnews/2017-01-19_HowDeutscheBankMadea462MillionLossDisappearMontePasci.html