Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-60107 Wed, 29 Jun 2016 18:31:42 GMT Turkish Stream project; Russia-Turkey tourism to resume after Erdogan apology http://implode-explode.com/viewnews/2016-06-29_TurkishStreamprojectRussiaTurkeytourismtoresumeafterErdoganapolo.html Russian-Turkish tourism spigot is about to be turned back on, as well...]]> iehi-feed-60084 Mon, 27 Jun 2016 15:01:41 GMT Erdogan apologizes to Putin over death of Russian pilot, calls Russia ‘friend & strategic partner' http://implode-explode.com/viewnews/2016-06-27_ErdoganapologizestoPutinoverdeathofRussianpilotcallsRussiafriend.html iehi-feed-60083 Mon, 27 Jun 2016 14:48:15 GMT Russia-German Pipeline May Break Europe's Energy Union http://implode-explode.com/viewnews/2016-06-27_RussiaGermanPipelineMayBreakEuropesEnergyUnion.html iehi-feed-60040 Tue, 21 Jun 2016 16:20:42 GMT Raymond James: Get Ready for $80 Oil http://implode-explode.com/viewnews/2016-06-21_RaymondJamesGetReadyfor80Oil.html iehi-feed-60025 Sat, 18 Jun 2016 13:57:32 GMT Rio state declares 'public calamity' over finances http://implode-explode.com/viewnews/2016-06-18_Riostatedeclarespubliccalamityoverfinances.html iehi-feed-60016 Fri, 17 Jun 2016 00:00:07 GMT JPMorgan CIO Crushes Cameron's Scaremongery on Brexit http://implode-explode.com/viewnews/2016-06-16_JPMorganCIOCrushesCameronsScaremongeryonBrexit.html iehi-feed-60010 Thu, 16 Jun 2016 13:34:45 GMT For One Breed of Wall Street Bankers, Business Is Booming Again http://implode-explode.com/viewnews/2016-06-16_ForOneBreedofWallStreetBankersBusinessIsBoomingAgain.html iehi-feed-59960 Mon, 06 Jun 2016 13:39:38 GMT Saudi Arabia Races Through Financial Toolkit to Raise Funds http://implode-explode.com/viewnews/2016-06-06_SaudiArabiaRacesThroughFinancialToolkittoRaiseFunds.html In recent weeks, the kingdom raised a $10 billion loan, clamped down on currency speculators and informed banks of plans to raise as much as $15 billion in its first international bond sale, people with knowledge of the matter said. It's also said to be contemplating IOUs to pay contractor bills and hired HSBC Holdings Plc banker Fahad Al Saif to set up a new debt office.

The speed of the measures underscores Deputy Crown Prince Mohammed bin Salman's urgency to shore up the country's finances as an era of oil-fueled abundance falters. Though currency reserves remain strong -- among the world's largest -- net foreign assets are at a four-year low after declining for 15 months in a row and the kingdom may post a budget deficit of about 13.5 percent of economic output this year.

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Authorities are also taking steps to protect the currency regime amid speculation the country will have to abandon the riyal's three-decade-old peg to the U.S. dollar. Last week, the Saudi Arabia Monetary Agency ordered banks to stop selling dollar-riyal forward structured contracts immediately, following a similar order in January, people aware of the matter said.

Among those betting that the peg may not endure are U.S. hedge funds. PointState Capital's Zach Schreiber, who made $1 billion betting against oil two years ago, is wagering that weaker long-term crude prices and rising costs will cause the country to abandon the peg. Pershing Square Capital Management has made similar bets.

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iehi-feed-59955 Sun, 05 Jun 2016 19:13:24 GMT Swiss reject free income plan after worker vs robot debate http://implode-explode.com/viewnews/2016-06-05_Swissrejectfreeincomeplanafterworkervsrobotdebate.html Swiss voters rejected by a wide margin on Sunday a proposal to introduce a guaranteed basic income for everyone living in the wealthy country after an uneasy debate about the future of work at a time of increasing automation.

Supporters had said introducing a monthly income of 2,500 Swiss francs ($2,563) per adult and 625 francs per child under 18 no matter how much they work would promote human dignity and public service. Opponents, including the government, said it would cost too much and weaken the economy.

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iehi-feed-59947 Sat, 04 Jun 2016 00:00:18 GMT A Suburban Experiment Aims for Energy Grid-Independent Homes http://implode-explode.com/viewnews/2016-06-03_ASuburbanExperimentAimsforEnergyGridIndependentHomes.html Since 2013, the Energy Department has certified about 700 homes as "zero-energy ready," meaning that the addition of a renewable energy system, generally solar, would offset most or all of its annual energy consumption.

With thousands more in the pipeline, said Sam Rashkin, chief architect of the building technologies office, the department expects to certify roughly 1,000 this year and 3,000 in 2017.

"We're on that inflection point on the growth curve," he said. "We're proving the business case to a growing number of builders in key pockets of construction around the country. It takes some really good examples by leading builders to showcase just how cost-effective and technically achievable these specifications are."

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[Electric Power Research Institute, a nonprofit utility-funded group that is conducting the study on zero-energy homes] found a willing collaborator in Meritage, a leading builder of energy-efficient homes, and are expanding the test program to additional subdivisions in Southern California, the Central Valley and the Bay Area.

For buyers, part of the appeal of a home built to be zero-energy is that they do not have to change their behavior to save energy.

At Meritage, the company insulates every house with spray foam, sharply reducing the amount of heating and cooling needed, and allowing smaller or fewer units to be installed. Making the homes even more efficient are dual-pane windows that help retain or keep out heat (depending on the need), LED lighting and advanced water heaters that work by funneling heat from the ambient air into the water.

All of the test homes have SunPower rooftop solar systems, which are among the most efficient on the market. And because they were designed along with the houses, the arrays can be oriented for maximum production.

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iehi-feed-59933 Thu, 02 Jun 2016 19:41:08 GMT Renewable Energy Isn't About to Doom Oil http://implode-explode.com/viewnews/2016-06-02_RenewableEnergyIsntAbouttoDoomOil.html iehi-feed-59928 Wed, 01 Jun 2016 19:11:40 GMT Russia and Saudi Arabia dump $50bn in US assets http://implode-explode.com/viewnews/2016-06-01_RussiaandSaudiArabiadump50bninUSassets.html Investors from Russia and Saudi Arabia have cut their combined holdings of US securities by more than $50 billion between mid 2014 and 2015, reports the Financial Times.

Over the period, Saudi Arabia reduced its holdings by $26 billion, according to an annual US Treasury survey published earlier this week. The Treasury recently unveiled the scale of Saudi buying of US government debt that had dropped by $3 billion to about $116 billion from February to March.

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iehi-feed-59926 Tue, 31 May 2016 21:43:12 GMT Dallas Fed Tumbles (Again) - 17th Consecutive Month Of Contraction http://implode-explode.com/viewnews/2016-05-31_DallasFedTumblesAgain17thConsecutiveMonthOfContraction.html iehi-feed-59921 Tue, 31 May 2016 16:14:00 GMT Personal Spending Spikes Most Since Aug 2009, Savings Rate Plunges, As Fuel Costs Surge http://implode-explode.com/viewnews/2016-05-31_PersonalSpendingSpikesMostSinceAug2009SavingsRatePlungesAsFuelCo.html iehi-feed-59917 Tue, 31 May 2016 13:24:09 GMT The Untold Story Behind Saudi Arabia's 41-Year U.S. Debt Secret http://implode-explode.com/viewnews/2016-05-31_TheUntoldStoryBehindSaudiArabias41YearUSDebtSecret.html With a handful of Treasury and Federal Reserve officials, the secret [of the amount of Saudia Arabia's official US Treasury holdings] was kept for more than four decades--until now. In response to a Freedom-of-Information-Act request submitted by Bloomberg News, the Treasury broke out Saudi Arabia's holdings for the first time this month after "concluding that it was consistent with transparency and the law to disclose the data," according to spokeswoman Whitney Smith. The $117 billion trove makes the kingdom one of America's largest foreign creditors.

Yet in many ways, the information has raised more questions than it has answered. A former Treasury official, who specialized in central bank reserves and asked not to be identified, says the official figure vastly understates Saudi Arabia's investments in U.S. government debt, which may be double or more.

The current tally represents just 20 percent of its $587 billion of foreign reserves, well below the two-thirds that central banks typically keep in dollar assets. Some analysts speculate the kingdom may be masking its U.S. debt holdings by accumulating Treasuries through offshore financial centers, which show up in the data of other countries.

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Treasury officials solved the dilemma [of Saudi Arabia appearing to support Israel by way of buying US debt] by letting the Saudis in through the back door. In the first of many special arrangements, the U.S. allowed Saudi Arabia to bypass the normal competitive bidding process for buying Treasuries by creating "add-ons." Those sales, which were excluded from the official auction totals, hid all traces of Saudi Arabia's presence in the U.S. government debt market.

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iehi-feed-59898 Sat, 28 May 2016 14:18:15 GMT Russian President Vladimir Putin Aims to Renew Ties During Visit to Greece http://implode-explode.com/viewnews/2016-05-28_RussianPresidentVladimirPutinAimstoRenewTiesDuringVisittoGreece.html Talks focused on trade and investment, in particular in energy and transport, and the Russian president openly expressed his country's interest in taking part in the potential privatization of Greek rail assets and the port of Thessaloniki, a major gateway into the Balkans.

Greece and Russia have flirted with the idea of Athens participating in a pipeline project that would bring Russian gas into Europe via Greece, though little progress was immediately expected.

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Greece has kept close relations with Moscow even after the EU imposed economic sanctions in the summer of 2014 in response to Russia's annexation of Ukraine's Crimea region and its support for separatists in eastern Ukraine. Russia has denied Western charges that it supplied and directed the rebels.

"Greece has repeatedly said that the vicious circle of sanctions is not productive," the Greek Prime Minister said, but added Greece will stick to the commitments it has as a member of the European Union.

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iehi-feed-59896 Sat, 28 May 2016 13:59:48 GMT The Next Systemic Lehman Event http://implode-explode.com/viewnews/2016-05-28_TheNextSystemicLehmanEvent.html iehi-feed-59855 Sun, 22 May 2016 21:21:08 GMT Petroyuan is Here; Will It Take Over? http://implode-explode.com/viewnews/2016-05-22_PetroyuanisHereWillItTakeOver.html The Russian-Chinese energy alliance is proposed to go longer. Moscow and Beijing have made their interchanges of petroleum a channel of transition towards a multipolar monetary system, that is to say, a system that is no longer based on the dollar alone, but takes into account various currencies and above all, that reflects the correlation of forces in the current world order. The economic sanctions imposed by Washington and Brussels drove the Russians to eliminate the dollar and the euro from their commercial and financial transactions, since otherwise, they would be too exposed to suffer sabotage in the moment of realizing buying and selling operations with their principal trading partners.

For this reason, from mid-2015, the hydrocarbons that China buys from Russia are paid in yuans, not in dollars, information that has been confirmed by high executives of Gazprom Neft, the petroleum branch of Gazprom [5]. This has lead to the use of the "people's currency" (‘renminbi') in the world oil market and at the same time allows Russia to neutralize the economic offensive launched by the United States and the European Union. The underpinnings of a new financial order supported by the petroyuan is emerging: the Chinese money is preparing to become the axis of commercial exchanges of the Asian-Pacific region with the principal petroleum powers.

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iehi-feed-59841 Fri, 20 May 2016 21:26:53 GMT Business Loan Delinquencies Spread From Energy; Spike to Lehman Level http://implode-explode.com/viewnews/2016-05-20_BusinessLoanDelinquenciesSpreadFromEnergySpiketoLehmanLevel.html iehi-feed-59829 Thu, 19 May 2016 23:06:42 GMT Why Venezuela Could Be on the Brink of Collapse http://implode-explode.com/viewnews/2016-05-19_WhyVenezuelaCouldBeontheBrinkofCollapse.html