Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-53753 Wed, 23 Apr 2014 03:19:53 GMT U.S. home sales slip to a 20-month low http://implode-explode.com/viewnews/2014-04-22_UShomesalessliptoa20monthlow.html iehi-feed-53752 Wed, 23 Apr 2014 00:48:19 GMT Moving in with parents becomes more common for the middle-aged http://implode-explode.com/viewnews/2014-04-22_Movinginwithparentsbecomesmorecommonforthemiddleaged.html The number of Californians 50 to 64 who live in their parents' homes has surged in recent years, reflecting the grim economic aftermath of the Great Recession.

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The jump is almost exclusively the result of financial hardship caused by the recession rather than for other reasons, such as the need to care for aging parents, said Steven P. Wallace, a UCLA professor of public health who crunched the data.

Many more young adults live with their parents than those in their 50s and early 60s live with theirs. Among 18- to 29-year-olds, 1.6 million Californians have taken up residence in their childhood bedrooms, according to the data.

Though that's a 33% jump from 2006, the pace is half that of the 50 to 64 age group.

The surge in middle-aged people moving in with parents reflects the grim economic reality that has taken hold in the aftermath of the Great Recession.

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Long-term unemployment is especially acute for older people. The number of Americans 55 and older who have been out of work for a year or more was 617,000 at the end of December, a fivefold jump from the end of 2007 when the recession hit, according to the Bureau of Labor Statistics.

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"I said 'Mom, I'm so sorry but I don't know what to do,'" she said. "I dreaded it. If it wasn't for my boys I wouldn't have done it. I would have lived in my car."

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iehi-feed-53751 Tue, 22 Apr 2014 18:38:15 GMT Piketty's Gold? - The New York Sun http://implode-explode.com/viewnews/2014-04-22_PikettysGoldTheNewYorkSun.html What could have marked 1971 as the year the picture began to change in respect of inequality in America? It turns out that was the year America defaulted on its obligation under Bretton Woods to redeem in gold dollars held by foreign governments and the era of fiat money began.

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It doesn't take a Ph.D. from MIT or Princeton to imagine that in an age of fiat money, the top decile would have an easier time making hay than would the denizens of the other nine deciles, who aren't trained in the art of swaps and derivatives.

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iehi-feed-53750 Tue, 22 Apr 2014 18:31:13 GMT McDonald's profit falls, U.S diners not lovin' the inflation http://implode-explode.com/viewnews/2014-04-22_McDonaldsprofitfallsUSdinersnotlovintheinflation.html McDonald's prices were up 3 percent during the quarter and traffic fell, suggesting push-back from diners... This year promises to remain challenging for McDonald's as it grapples with record-high beef prices, labor cost increases, image-denting protests from its minimum-wage workers and aggressive competition from rivals that include Burger King Worldwide Inc, Wendy's Co and Yum Brands' Taco Bell as well as privately held chains such as In-N-Out Burger and Five Guys Burgers and Fries.

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The lackluster results from McDonald's landed a few days after Chipotle Mexican Grill Inc, the popular burrito chain it spun off in 2006, said its first-quarter same-restaurant sales jumped 13.4 percent. Chipotle caters to a wealthier consumer than McDonald's and it serves on-trend food, including dishes made with organic produce and antibiotic-free meats. It is It is planning to begin raising prices at the end of this quarter to offset higher costs.

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iehi-feed-53746 Tue, 22 Apr 2014 13:21:25 GMT Eight EU states in deflation as calls grow for QE in Sweden http://implode-explode.com/viewnews/2014-04-22_EightEUstatesindeflationascallsgrowforQEinSweden.html iehi-feed-53745 Tue, 22 Apr 2014 13:20:03 GMT Lawyers Sue Stock Market for Being Rigged http://implode-explode.com/viewnews/2014-04-22_LawyersSueStockMarketforBeingRigged.html iehi-feed-53741 Mon, 21 Apr 2014 13:52:07 GMT New York Appellate Court Rules In Favor Of MFI-Miami Client http://implode-explode.com/viewnews/2014-04-21_NewYorkAppellateCourtRulesInFavorOfMFIMiamiClient.html iehi-feed-53739 Mon, 21 Apr 2014 13:19:01 GMT JPY Drops, Nikkei Pops As Japanese Trade Balance Nears Record Deficit (36th In A Row) http://implode-explode.com/viewnews/2014-04-21_JPYDropsNikkeiPopsAsJapaneseTradeBalanceNearsRecordDeficit36thIn.html iehi-feed-53738 Mon, 21 Apr 2014 13:15:47 GMT Matt Taibbi: The SuperRich in America Have Become 'Untouchables' Who Don't Go to Prison http://implode-explode.com/viewnews/2014-04-21_MattTaibbiTheSuperRichinAmericaHaveBecomeUntouchablesWhoDontGoto.html iehi-feed-53737 Sat, 19 Apr 2014 02:33:48 GMT Senators ask U.S.Treasury to stop garnishing tax refunds to pay for old debts http://implode-explode.com/viewnews/2014-04-18_SenatorsaskUSTreasurytostopgarnishingtaxrefundstopayforolddebts.html iehi-feed-53736 Sat, 19 Apr 2014 02:22:41 GMT Prelude to Economic Disaster: Billionaires Liquidating Real Estate in China; Stocks in US http://implode-explode.com/viewnews/2014-04-18_PreludetoEconomicDisasterBillionairesLiquidatingRealEstateinChin.html iehi-feed-53735 Fri, 18 Apr 2014 22:35:39 GMT Bankers are Behind the Wars http://implode-explode.com/viewnews/2014-04-18_BankersareBehindtheWars.html iehi-feed-53734 Fri, 18 Apr 2014 14:10:37 GMT US financial showdown with Russia is more dangerous than it looks, for both sides http://implode-explode.com/viewnews/2014-04-18_USfinancialshowdownwithRussiaismoredangerousthanitlooksforbothsi.html The strategy relies on hegemonic control over the global banking system, buttressed by a network of allies and the reluctant acquiescence of neutral states. Let us call this the Manhattan Project of the early 21st century...

[But] the US Treasury faces a more formidable prey with Russia, the world's biggest producer of energy with a $2 trillion economy, superb scientists and a first-strike nuclear arsenal. It is also tightly linked to the German and east European economies. The US risks endangering its own alliance system if it runs roughshod over friends. It is in much the same situation as Britain in the mid-19th century when it enforced naval supremacy, boarding alleged slave ships anywhere in the world, under any flag, ruffling everybody's feathers.

... Princeton professor Harold James sees echoes of events before the First World War when Britain and France imagined they could use financial warfare to check German power.He says the world's interlocking nexus means this cannot be contained. Sanctions risk setting off a chain-reaction to match the 2008 shock...

The greatest risk is surely an "asymmetric" riposte by the Kremlin. Russia's cyber-warfare experts are among the best, and they had their own trial run on Estonia in 2007. A cyber shutdown of an Illinois water system was tracked to Russian sources in 2011. We don't know whether US Homeland Security can counter a full-blown "denial-of-service" attack on electricity grids, water systems, air traffic control, or indeed the New York Stock Exchange, and nor does Washington.

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iehi-feed-53733 Fri, 18 Apr 2014 14:08:09 GMT Food Prices Rise Sharply http://implode-explode.com/viewnews/2014-04-18_FoodPricesRiseSharply.html iehi-feed-53732 Fri, 18 Apr 2014 14:06:15 GMT Rents Soar Out of Affordability Range for Middle Class http://implode-explode.com/viewnews/2014-04-18_RentsSoarOutofAffordabilityRangeforMiddleClass.html iehi-feed-53731 Fri, 18 Apr 2014 13:53:48 GMT Nomi Prins on Nature of Bankers' Power http://implode-explode.com/viewnews/2014-04-18_NomiPrinsonNatureofBankersPower.html iehi-feed-53730 Fri, 18 Apr 2014 13:50:47 GMT Russia and China announce decoupling trade from Dollar http://implode-explode.com/viewnews/2014-04-18_RussiaandChinaannouncedecouplingtradefromDollar.html iehi-feed-53729 Thu, 17 Apr 2014 19:02:13 GMT Ukraine Talks Reach Initial Deal as Putin Keeps Force as Option http://implode-explode.com/viewnews/2014-04-17_UkraineTalksReachInitialDealasPutinKeepsForceasOption.html iehi-feed-53728 Thu, 17 Apr 2014 19:00:46 GMT AIB trial: Pat Whelan and Willie McAteer found guilty http://implode-explode.com/viewnews/2014-04-17_AIBtrialPatWhelanandWillieMcAteerfoundguilty.html iehi-feed-53727 Thu, 17 Apr 2014 17:57:25 GMT Rule - Gold "Collateralization" in China is Bullish, Not Bearish http://implode-explode.com/viewnews/2014-04-17_RuleGoldCollateralizationinChinaisBullishNotBearish.html