Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-53760 Wed, 23 Apr 2014 13:37:22 GMT Hussman - The Federal Reserve's Two-Legged Stool http://implode-explode.com/viewnews/2014-04-23_HussmanTheFederalReservesTwoLeggedStool.html Why have market returns been able to average even 3.5% over the past 14 years? Simple. Valuations have been pushed, once again, to some of the highest levels in history. Instead of terminating this 14-year period anywhere near historical norms, the ratio of market capitalization to GDP presently stands at 1.25, which is double its historical norm.

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In her first public speech on monetary policy, Janet Yellen made it clear that the Fed intends to pursue a more rules-based, less discretionary policy. This is good news. The bad news, however, is that Yellen focused only on employment and inflation. In that same speech, not a single word was said about attending to speculative risks or financial instability (which are inherent in Fed-induced, yield-seeking speculation). Without attending to that third leg, the Fed is resting the fate of the U.S. economy on a two-legged stool.

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iehi-feed-53759 Wed, 23 Apr 2014 13:30:34 GMT The American Middle Class Is No Longer the World's Richest http://implode-explode.com/viewnews/2014-04-23_TheAmericanMiddleClassIsNoLongertheWorldsRichest.html The numbers, based on surveys conducted over the past 35 years, offer some of the most detailed publicly available comparisons for different income groups in different countries over time. They suggest that most American families are paying a steep price for high and rising income inequality.

Although economic growth in the United States continues to be as strong as in many other countries, or stronger, a small percentage of American households is fully benefiting from it. Median income in Canada pulled into a tie with median United States income in 2010 and has most likely surpassed it since then

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iehi-feed-53758 Wed, 23 Apr 2014 13:19:17 GMT Barclays joins retreat from commodities as new rules bite http://implode-explode.com/viewnews/2014-04-23_Barclaysjoinsretreatfromcommoditiesasnewrulesbite.html iehi-feed-53757 Wed, 23 Apr 2014 13:17:10 GMT Presenting The Massive Tech Bubble In One Astounding Chart http://implode-explode.com/viewnews/2014-04-23_PresentingTheMassiveTechBubbleInOneAstoundingChart.html iehi-feed-53755 Wed, 23 Apr 2014 13:13:34 GMT ​Firefighters v arsonists: US confirms $5bn spent on 'Ukraine democracy' http://implode-explode.com/viewnews/2014-04-23_FirefightersvarsonistsUSconfirms5bnspentonUkrainedemocracy.html iehi-feed-53754 Wed, 23 Apr 2014 13:11:34 GMT Retail Store Closures Soar In 2014: At Highest Pace Since Lehman Collapse http://implode-explode.com/viewnews/2014-04-23_RetailStoreClosuresSoarIn2014AtHighestPaceSinceLehmanCollapse.html 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-53748 Tue, 22 Apr 2014 13:26:53 GMT Turk - Gold Market Now Seeing Deepest Backwardation In 8 Months http://implode-explode.com/viewnews/2014-04-22_TurkGoldMarketNowSeeingDeepestBackwardationIn8Months.html 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-53744 Tue, 22 Apr 2014 05:14:27 GMT Failed Banker Chosen as Alabama CU Regulator http://implode-explode.com/viewnews/2014-04-22_FailedBankerChosenasAlabamaCURegulator.html ``Moore's profile also said she was executive vice president and chief operations officer at Colonial Bank and Colonial BancGroup from 2000 to 2003, and served from 1987 to 1996 as an audit manager at Coopers & Lybrand, which merged with PriceWaterhouse in 1998.

Colonial's colossal failure prompted the first lawsuit filed by the FDIC against a failed bank's accountants, according to court records and media reports.

"Colonial's closure was triggered by the discovery that its largest mortgage banking customer, Taylor Bean & Whitaker Mortgage Corp., had committed a massive, multi-year fraud against Colonial, resulting in financial statements that grossly misstated Colonial's true financial condition," according to a lawsuit filed Oct. 31, 2012 by FDIC against PwC, which served as the bank's external auditor and Crowe Horwath, which provided internal audit services.''

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iehi-feed-53743 Tue, 22 Apr 2014 05:13:31 GMT Fargo foreclosure manual on trial | New York Post http://implode-explode.com/viewnews/2014-04-22_FargoforeclosuremanualontrialNewYorkPost.html ``At a hearing in lower Manhattan on April 8, Judge Allan Gropper admitted the manual into the bankruptcy case of a local homeowner in foreclosure, and he approved a request by his lawyer to be allowed to dig deeper.

Now Wells must produce a witness with knowledge of the manual who can answer lawyer Linda Tirelli's questions under oath.

Tirelli is alleging that endorsements on the homeowner's note are "fraudulent in nature." A note is an IOU to the bank, while a mortgage ties a given property to the loan.''

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iehi-feed-53742 Tue, 22 Apr 2014 00:47:51 GMT Why Jesus Was REALLY Killed: Challenging the Money Changers http://implode-explode.com/viewnews/2014-04-21_WhyJesusWasREALLYKilledChallengingtheMoneyChangers.html Jesus did not go to the temple to cleanse. He came to the temple to announce the destruction of a whole way of life. Those who operated the temple had no power to silence Jesus and put him to death. Those powers were held by the Roman retainers. ]]> 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