If you doubted that inflation was on its way...

Graham_Devon

StevieJ wrote: »

Where is Dopester when you need him Wookie is on one again.
Dopester, remember the inflation discussions with !!!!!! :rolleyes: last summer when he was insisting that falling sterling would cause immediate inflation even though commodity prices were collapsing. I think he wanted to up interest rates, just like most of the
bears, we would be right in the sticky stuff now if we had done that.

Yer, instead, we have simply prolonged being in the sticky stuff.

StevieJ

Graham_Devon wrote: »

Yer, instead, we have simply prolonged being in the sticky stuff.

Check Euroland and they only delayed interest rate drops :eek:

chupov

StevieJ wrote: »

we would be right in the sticky stuff now if we had done that.

As opposed to being in rude health, like we are

Is this another one of these threads where the goalposts are moved ... like saying the bulls are proved wrong cuz falls are 'only' in the order of 20-25% after 18 mnths instead of 50% or something silly?

StevieJ

chupov wrote: »

As opposed to being in rude health, like we are

Is this another one of these threads where the goalposts are moved ... like saying the bulls are proved wrong cuz falls are 'only' in the order of 20-25% after 18 mnths instead of 50% or something silly?

ike saying the bulls are proved wrong cuz falls are 'only' in the order of 20-25% after 18 mnths

StevieJ

chupov wrote: »

As opposed to being in rude health, like we are

Is this another one of these threads where the goalposts are moved ... like saying the bulls are proved wrong cuz falls are 'only' in the order of 20-25% after 18 mnths instead of 50% or something silly?

It is all relative, the Eurozone is taking a pasting, simple as, the ECB is way behind the curve :eek:




LONDON--Industrial production in the 16 countries that use the euro slumped to a fresh record low on the year in March, as output declined across all sectors and in the major euro-zone economies.

According to figures released Wednesday by the European Union's statistics agency Eurostat, March industrial production fell by 2.0% from February, and by 20.2% from March 2008. The annual decline was the steepest since records began in January 1990, Eurostat said.

The outcome was weaker than economists' expectations. According to a Dow Jones Newswires survey last week, economists had estimated that factory output would have fallen by 1.2% on the month and by 18.2% on the year.

Eurostat revised down its monthly estimate for February to show a 2.5% fall on the month and a 19.1% decline on the year. Eurostat originally estimated that industrial production declined 2.3% on the month and by 18.4% in annual terms in February.

Output in the U.K. and in other economies continues to decline, but at a slower pace than in recent months. The continued reporting of record year-on-year declines in the euro zone is in line with economists' forecasts of a new record contraction in first-quarter gross domestic product, ahead of the release of first-quarter GDP data from Eurostat Friday.

The decline in industrial output in the euro zone was spread across all sectors, with all sectors apart from capital goods posting fresh record lows in the annual measure, Eurostat said.

On the month the steepest decline was a 3.1% fall in the production of intermediate goods, while the production of energy fell 2.8% in March from February.

By country, the steepest monthly drop among the largest economies came from Italy, where output fell 4.6% from February.

Industrial production dropped 1.4% on the month in France and was down just 0.4% in Germany when compared with February.

The continued sharp fall in industrial output confirms that the European Central Bank's decision to cut rates to 1% last week and announce its first foray into less conventional monetary easing measures hasn't come a moment too soon.

ECB President Jean-Claude Trichet said the central bank plans to purchase around EUR60 billion in covered bonds and has also granted the European Investment Bank full access to its repurchase operations.

In the 27 members of the European Union, output fell 1.9% on the month and 18.8% on the year, Eurostat said.

Wookster

Stonk wrote: »

Simpler yes, but not nearly as stylish.

Note to self: use "quantum" and "stimulus" twice a day from now on.

And it doesn't have the 007 connotation.

Graham_Devon

StevieJ wrote: »

It is all relative, the Eurozone is taking a pasting, simple as, the ECB is way behind the curve :eek:

Have you forgotten the pasting we took?

Europe has always been behind us. You are really looking past so much with your fingers in your ears going " la la la" to make your point.

You even made the part "but at a slower pace" bigger.

Stevie, if we had continued to decline at a pace we were, we would be worse than Iceland by now. You do try to make some seriously bizzare points.

chupov

StevieJ wrote: »

ike saying the bulls are proved wrong cuz falls are 'only' in the order of 20-25% after 18 mnths

Whoops - is it possible that I could have miswrote bulls instead of something else? :rotfl:

Hmmm, what could I have meant to write instead? I'm sure someone can work it out!

chupov

Graham_Devon wrote: »

Have you forgotten the pasting we took?

Europe has always been behind us. You are really looking past so much with your fingers in your ears going " la la la" to make your point.

You even made the part "but at a slower pace" bigger.

Stevie, if we had continued to decline at a pace we were, we would be worse than Iceland by now. You do try to make some seriously bizzare points.

Nah, Britains doing brilliantly thanks to Gordons leadership.

Look how fantastically their bold measures have managed to fight off the spectre of deflation - CPI is almost 50% over target and has been well over target for ages. No danger of British consumers having to pay less for food or essentials! Way to go New Labour!

StevieJ

Graham_Devon wrote: »

Have you forgotten the pasting we took?

Europe has always been behind us. You are really looking past so much with your fingers in your ears going " la la la" to make your point.

You even made the part "but at a slower pace" bigger.

Stevie, if we had continued to decline at a pace we were, we would be worse than Iceland by now. You do try to make some seriously bizzare points.

You do try to make some seriously bizzare points.
I really wonder about you :eek:
Let me get this right, are you saying that the UK will contract more than the Eurozone in the current recession?

Let us look how the powerhouse is doing.

BERLIN, April 28 (Reuters) - The German government will announce on Wednesday that it expects the economy to contract by 6.0 percent this year, by far its worst performance in the post-war era, government sources said.

The new forecast represents a dramatic downward revision from Berlin's January projection for gross domestic product (GDP) to decline by 2.25 percent in 2009

Just to put this in context, German GDP has never fallen below -1 for a full year since WW2.
What about poor old countries like Spain and Ireland lumbered with an uncompetitive exchange rate :mad: