IEHI Feed: The Bank Implode-o-Meter http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-57364 Tue, 04 Aug 2015 00:33:34 GMT Wells Fargo Whistleblower Tells All http://bankimplode.com/viewnews/2015-08-03_WellsFargoWhistleblowerTellsAll.html iehi-feed-57361 Mon, 03 Aug 2015 13:57:35 GMT Puerto Rico on brink of debt default; Misses Payment http://bankimplode.com/viewnews/2015-08-03_PuertoRicoonbrinkofdebtdefaultMissesPayment.html iehi-feed-57360 Mon, 03 Aug 2015 13:35:13 GMT Where Candidates Fear to Tread - Kunstler http://bankimplode.com/viewnews/2015-08-03_WhereCandidatesFeartoTreadKunstler.html iehi-feed-57359 Mon, 03 Aug 2015 13:30:58 GMT Doug Noland - Money and Spheres http://bankimplode.com/viewnews/2015-08-03_DougNolandMoneyandSpheres.html iehi-feed-57356 Sun, 02 Aug 2015 19:07:54 GMT The 1991 Donald Trump Documentary He Tried To Suppress http://bankimplode.com/viewnews/2015-08-02_The1991DonaldTrumpDocumentaryHeTriedToSuppress.html iehi-feed-57354 Sun, 02 Aug 2015 13:53:47 GMT Who needs the Fed? The rate hike cometh on its own http://bankimplode.com/viewnews/2015-08-02_WhoneedstheFedTheratehikecomethonitsown.html iehi-feed-57353 Sun, 02 Aug 2015 13:49:05 GMT Liar Loans Pop up in Canada's Magnificent Housing Bubble http://bankimplode.com/viewnews/2015-08-02_LiarLoansPopupinCanadasMagnificentHousingBubble.html iehi-feed-57351 Sun, 02 Aug 2015 13:37:25 GMT Robots: The Growing Threat to the Service Industry http://bankimplode.com/viewnews/2015-08-02_RobotsTheGrowingThreattotheServiceIndustry.html iehi-feed-57350 Sat, 01 Aug 2015 18:26:54 GMT Equifax: Credit card debt surges in top 25 US metro areas (CONSUMERS BACK ON CREDIT CARD LIFE SUPPORT-DRIP!!) http://bankimplode.com/viewnews/2015-08-01_EquifaxCreditcarddebtsurgesintop25USmetroareasCONSUMERSBACKONCRE.html ... credit card debt while remaining subdued since the Great Recession suddenly made a 180 degree turn... Total outstanding credit card debt recently surged beyond the $900 billion mark...  And with the average nationwide interest rate of 14% that means spending hamsters are probably dropping tens of billions on interest costs alone...

Adjusting for inflation US household income is back to where it was nearly 30 years ago. So to keep up the pretense that things are perfectly fine with the middle class, people are spending money they don't have. This by the way, was at the core of the Great Recession.

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iehi-feed-57348 Sat, 01 Aug 2015 18:03:38 GMT Michigan Wingnut Ted Visner's Debt Hidden In His Tinfoil Hat http://bankimplode.com/viewnews/2015-08-01_MichiganWingnutTedVisnersDebtHiddenInHisTinfoilHat.html iehi-feed-57346 Sat, 01 Aug 2015 13:35:41 GMT Carlyle Fund Walloped in Commodities Rout (+scores of other commods. funds shut down) http://bankimplode.com/viewnews/2015-08-01_CarlyleFundWallopedinCommoditiesRoutscoresofothercommodsfundsshu.html Three years after private-equity giant Carlyle Group LP touted its purchase of a hedge-fund firm, a rout in raw materials has helped drive down holdings in its flagship fund from about $2 billion to less than $50 million, according to people familiar with the matter.

...

This week alone, commodity-trading firms Armajaro Asset Management LLP and Black River Asset Management LLC, a unit of agricultural conglomerate Cargill Inc., said they are closing funds. Several other firms that managed billions of dollars already have closed their doors, including London-based Clive Capital LLP and BlueGold Capital Management LLP. Large money managers including Brevan Howard Asset Management LLP and Fortress Investment Group LLC have wound down commodity strategies...

Assets under management at commodity hedge funds have fallen 15%, to $24.1 billion, since their peak in 2012, and nearly 30 firms out of 250 have shut down since that year, according to industry consultant HFR Inc. Commodity firms lost money for three years in a row before 2014, HFR said.

...

Christopher Nygaard and Drew Gilbert, who co-founded Vermillion in 2005 and sold a majority equity stake in the firm to Carlyle in 2012, left at the end of June, according to people with knowledge of the firm's operations. Vermillion is retreating from prior investments in oil, natural gas, coal, iron ore and agriculture, and traders and strategists involved in managing those strategies are leaving, these people said.

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iehi-feed-57345 Sat, 01 Aug 2015 13:31:38 GMT OPEC Shale War Leaves Big Oil Companies as Surprise Victims http://bankimplode.com/viewnews/2015-08-01_OPECShaleWarLeavesBigOilCompaniesasSurpriseVictims.html iehi-feed-57344 Sat, 01 Aug 2015 13:27:35 GMT Why 99% of trading is pointless - Bogle http://bankimplode.com/viewnews/2015-08-01_Why99oftradingispointlessBogle.html iehi-feed-57343 Sat, 01 Aug 2015 13:25:48 GMT Greek bailout is far from being a done deal http://bankimplode.com/viewnews/2015-08-01_Greekbailoutisfarfrombeingadonedeal.html iehi-feed-57342 Sat, 01 Aug 2015 13:23:46 GMT Alexis Tsipras: I ordered Varoufakis to 'defend Greece' http://bankimplode.com/viewnews/2015-08-01_AlexisTsiprasIorderedVaroufakistodefendGreece.html iehi-feed-57341 Fri, 31 Jul 2015 23:03:41 GMT The Defeat of Europe (Varoufakis in Le Monde Diplomatique) http://bankimplode.com/viewnews/2015-07-31_TheDefeatofEuropeVaroufakisinLeMondeDiplomatique.html iehi-feed-57340 Fri, 31 Jul 2015 22:54:19 GMT IMF won't help finance Greece without debt relief http://bankimplode.com/viewnews/2015-07-31_IMFwonthelpfinanceGreecewithoutdebtrelief.html iehi-feed-57338 Fri, 31 Jul 2015 22:52:21 GMT What it's like to be a part of the world's richest 1 percent, in 15 incredible photos http://bankimplode.com/viewnews/2015-07-31_Whatitsliketobeapartoftheworldsrichest1percentin15incrediblephot.html iehi-feed-57337 Fri, 31 Jul 2015 22:48:50 GMT Italy is the most likely country to leave the euro http://bankimplode.com/viewnews/2015-07-31_Italyisthemostlikelycountrytoleavetheeuro.html iehi-feed-57336 Fri, 31 Jul 2015 21:39:40 GMT Federal Withholding Tax Collections Are Plunging | The Wall Street Examiner http://bankimplode.com/viewnews/2015-07-31_FederalWithholdingTaxCollectionsArePlungingTheWallStreetExaminer.html