One Minute Macro Update - European Inflation Taking Hold

Tyler Durden's picture

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depression's picture

Sell Your Silver Bitchez !!!

Dr. Impossible's picture

don't you mean "sell yout dollars bitchez"?

Josephine29's picture

Those who follow European inflation might be interested in what is happening in UK inflation today. Look at what Notayesmanseconomics is reporting is happening in the UK..

 

Another problem for the Bank of England thesis that inflation is an external problem which is cannot influence has come from the price of a humble postage stamp. The price of a first class stamp has risen from 41 pence to 46 pence this morning for a rise of just over 12% and the price of a second class stamp has risen from 32 pence to 36 pence for a rise of 12.5%. These prices are for small letters as a few years ago some new sizes were increased as a way of again raising the price. Following this trend a first-class, large letter stamp has risen from 66 pence to 75 pence which is 13.5% and a second class one from 51 pence to 58 pence for a rise of 13.7%. According to the BBC part of the Royal Mail explanation is this.

With the sharp declines in mail volume, our revenues are falling.

Only a monopoly can think like this! Anybody else would be concerned about the effect of raising prices on the mail volume which is now likely to fall further. By this logic you could justify increases until in the end only one stamp is posted as they get so expensive!

http://t.co/WY7Fk5y

Herman Strandschnecke's picture

That's 14 First Class Stamps for the price of a gallon of petrol. I'd be interested to know the equivelent in the USA and elsewhere?

Rogerwilco's picture

Only 9 first-class stamps needed to buy a gallon (3.8 liters) here in Amerika.

baby_BLYTHE's picture

Futures are green

You cannot make this stuff up!

Josh Randall's picture

Time for more Japanese and Chinese backed bond purchases to keep things floating along this summer 

unwashedmass's picture

 

why, tyler, do you refer to "positive employment data" in the article? Shouldn't we call it what it is, every single time, rather than defer to the propaganda ......its monday, everyone has forgotten friday now, and if even we start referring to the fake numbers as real by monday, we're falling prey to what the government is trying to pull off....like everyone else...

either put the "positive" in quotes, or just start referring to it as fake or massaged data. every time.

unwashedmass's picture

 

why, tyler, do you refer to "positive employment data" in the article? Shouldn't we call it what it is, every single time, rather than defer to the propaganda ......its monday, everyone has forgotten friday now, and if even we start referring to the fake numbers as real by monday, we're falling prey to what the government is trying to pull off....like everyone else...

either put the "positive" in quotes, or just start referring to it as fake or massaged data. every time.

earnulf's picture

So if the outlooks for GDP are falling, doesn't that put the 100% of GDP vs National Debt into this year?    CBO was calculating a 4.6 YoY in GDP, if we are falling to 2.5 and adding 1.5Trillion to the Nat. Debt then we will surpass GDP before we enter the new fiscal year.

Rogerwilco's picture

Non-Ponzi GDP growth is a negative number, and has been since 2007.

packman's picture

6.6%???  Pfffft.

- Signed, Argentina (estimated at 25% now)

There was an article in yesterday's WaPo that Argentina's inflation is running about 25% (despite official government numbers at 9.8%)

http://www.washingtonpost.com/rw/WashingtonPost/Content/Epaper/2011-04-0...

 

thames222's picture

Europe is completely F'ed, if Ireland and Portugal weren't recent confirmations then I don't know what is...All I know is that we can't waste any of our time or money helping those bastards out. They deserve it.

 

www.forecastfortomorrow.com