Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-56641 Tue, 05 May 2015 03:58:49 GMT America's trailer parks: the residents may be poor but the owners are getting rich http://implode-explode.com/viewnews/2015-05-04_Americastrailerparkstheresidentsmaybepoorbuttheownersaregettingr.html Trailer parks are big and profitable business -- particularly after hundreds of thousands of Americans who lost their homes in the financial crisis created a huge demand for affordable housing. According to US Census figures, more than 20 million people, or 6% of the population, live in trailer parks.

It is a market that has not been lost on some of the country's richest and most high-profile investors. Sam Zell's Equity LifeStyle Properties (ELS) is the largest mobile home park owner in America, with controlling interests in nearly 140,000 parks. In 2014, ELS made $777m in revenue, helping boost Zell's near-$5bn fortune.

Warren Buffett, the nation's second-richest man with a $72bn fortune, owns the biggest mobile home manufacturer in the US, Clayton Homes, and the two biggest mobile home lenders, 21st Mortgage Corporation and Vanderbilt Mortgage and Finance Company.

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iehi-feed-56640 Tue, 05 May 2015 03:41:39 GMT Pimco's flagship fund loses status as world's largest bond fund (Bernanke to the Rescue??) http://implode-explode.com/viewnews/2015-05-04_PimcosflagshipfundlosesstatusasworldslargestbondfundBernanketoth.html Bernanke to the rescue?]]> iehi-feed-56639 Tue, 05 May 2015 03:35:49 GMT Grexit may be the best end for a bad marriage http://implode-explode.com/viewnews/2015-05-04_Grexitmaybethebestendforabadmarriage.html iehi-feed-56638 Tue, 05 May 2015 03:34:12 GMT U.S. Fed's Yellen says met firm at heart of leak probes http://implode-explode.com/viewnews/2015-05-04_USFedsYellensaysmetfirmatheartofleakprobes.html Yellen met with Medley Global Advisors in June 2012, she said in a letter, months before the firm unveiled details of a September Fed meeting a day ahead of the publication of the central bank's own record of the discussions. The Justice Department is investigating Medley over a possible leak of information from the Fed.

"Nothing Medley Global Advisors reported in October ... could have been conveyed in June, and let me assure you that, in any case, I did not convey any confidential information," Yellen said in the letter to two Republican members of the House of Representatives, Jeb Hensarling and Sean Duffy.''

Great, so if the Fed needs to meet with private research firms, we can safely just eliminate all research from the Fed's generous (self-policed) "budget", eh?

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iehi-feed-56637 Tue, 05 May 2015 03:20:22 GMT GREXIT! : The Epic http://implode-explode.com/viewnews/2015-05-04_GREXITTheEpic.html iehi-feed-56635 Sun, 03 May 2015 23:39:10 GMT Austrian Court: Nuland Attempted to Blackmail Yanukovich on Firtash Extradition http://implode-explode.com/viewnews/2015-05-03_AustrianCourtNulandAttemptedtoBlackmailYanukovichonFirtashExtrad.html iehi-feed-56634 Sun, 03 May 2015 17:12:08 GMT US jobs relapse raises fresh doubts on Fed tightening http://implode-explode.com/viewnews/2015-05-03_USjobsrelapseraisesfreshdoubtsonFedtightening.html ``The employment component dropped sharply to 48.3, below the "boom-bust line" of 50 and the lowest in almost six years. The relapse is likely to set off alarm bells at the Fed, where chairman Janet Yellen pays very close attention to the labour market.

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There is now a clear risk that the US economy may slow to "stall speed" under the Fed's model, defined as a "slow-growth phase at the end of expansions before falling into a recession".

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A separate report by Markit found that US manufacturing output in April fell to its lowest level this year, depressed by declining exports.

... wages have failed to pick up as expected. Average pay growth for non-supervisory workers has languished at 1.6pc over the past year and has actually slowed to a rate of 0.8pc in the past three months.

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The labour participation rate is still at a 37-year low of 62.7pc. The rate for males has dropped from 73.8pc to 69.3pc since 2007, a drastic fall that cannot be fully explained by changing technology or "structural" problems.

A new paper by Danny Blanchflower and Andrew Levin for the National Bureau of Economic Research argues that there are still large numbers of people with part-time jobs who want to work full-time. Once all forms of "hidden unemployment" are included, the shortfall reaches 3.3m jobs. The real unemployment rate is around 7.5pc.

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iehi-feed-56633 Sun, 03 May 2015 17:08:56 GMT Greek Pensioners Crash Pension Fund Board Meeting, Form Lines At Banks http://implode-explode.com/viewnews/2015-05-03_GreekPensionersCrashPensionFundBoardMeetingFormLinesAtBanks.html iehi-feed-56630 Sun, 03 May 2015 15:30:02 GMT Sucking Spoilt Milk From A Bloated Dead Sow - The Automatic Earth http://implode-explode.com/viewnews/2015-05-03_SuckingSpoiltMilkFromABloatedDeadSowTheAutomaticEarth.html iehi-feed-56629 Sun, 03 May 2015 15:14:36 GMT Major U.S. Retailers Are Closing More Than 6,000 Stores http://implode-explode.com/viewnews/2015-05-03_MajorUSRetailersAreClosingMoreThan6000Stores.html iehi-feed-56628 Sun, 03 May 2015 00:35:59 GMT How A Loss Of Liquidity Could Cause A Summer Grexit http://implode-explode.com/viewnews/2015-05-02_HowALossOfLiquidityCouldCauseASummerGrexit.html iehi-feed-56626 Sat, 02 May 2015 14:11:09 GMT Central banks consider joining the LBMA - RIP Transparency? http://implode-explode.com/viewnews/2015-05-02_CentralbanksconsiderjoiningtheLBMARIPTransparency.html iehi-feed-56625 Sat, 02 May 2015 14:09:18 GMT Chinese banks are clobbering the US http://implode-explode.com/viewnews/2015-05-02_ChinesebanksareclobberingtheUS.html iehi-feed-56623 Sat, 02 May 2015 13:57:04 GMT The Traumatic Restructuring Of Austria's Cooperative Banking System http://implode-explode.com/viewnews/2015-05-02_TheTraumaticRestructuringOfAustriasCooperativeBankingSystem.html iehi-feed-56622 Sat, 02 May 2015 13:54:09 GMT Could you live in a 320-square-foot home? - New Documentary http://implode-explode.com/viewnews/2015-05-02_Couldyouliveina320squarefoothomeNewDocumentary.html iehi-feed-56621 Sat, 02 May 2015 13:44:09 GMT Obama Bribes Abe to Support the TPP by Unleashing Japanese Military http://implode-explode.com/viewnews/2015-05-02_ObamaBribesAbetoSupporttheTPPbyUnleashingJapaneseMilitary.html iehi-feed-56620 Fri, 01 May 2015 23:55:32 GMT The Trans-Pacific Partnership and the Death of the Republic | Ellen Brown http://implode-explode.com/viewnews/2015-05-01_TheTransPacificPartnershipandtheDeathoftheRepublicEllenBrown.html Under the TPP or the TTIP (the Transatlantic Trade and Investment Partnership under negotiation with the European Union), would the Federal Reserve be sued if it failed to bail out banks that were too big to fail?

Firestone notes that under the Netherlands-Czech trade agreement, the Czech Republic was sued in an investor-state dispute for failing to bail out an insolvent bank in which the complainant had an interest. The investor company was awarded $236 million in the dispute settlement. What might the damages be, asks Firestone, if the Fed decided to let the Bank of America fail, and a Saudi-based investment company decided to sue?

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iehi-feed-56619 Fri, 01 May 2015 23:32:08 GMT Money Worries | KUNSTLER http://implode-explode.com/viewnews/2015-05-01_MoneyWorriesKUNSTLER.html iehi-feed-56616 Fri, 01 May 2015 14:23:41 GMT Greece "Scrambles"To Make Full Monthly Pension Payments: "Still Missing Several Hundred Million Euros" http://implode-explode.com/viewnews/2015-05-01_GreeceScramblesToMakeFullMonthlyPensionPaymentsStillMissingSever.html iehi-feed-56615 Fri, 01 May 2015 14:21:55 GMT Guess Who Predicted The Failure Of QE http://implode-explode.com/viewnews/2015-05-01_GuessWhoPredictedTheFailureOfQE.html