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UK December PMI Plunges To Sub-50 Level, Lowest Since April 2009, As Inflation Slashes UK Margins Next

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Thu, 01/06/2011 - 07:54 | 851943 Samsonov
Samsonov's picture

At least some of the decline was due to the snow?  Imagine that.  I see a hysterical headline, a semi-hysterical article, and totally non-hysterical facts.

Thu, 01/06/2011 - 07:51 | 851945 Id fight Gandhi
Id fight Gandhi's picture

Must be the news that's rallying the market today.

I'm going to disneyland.

Thu, 01/06/2011 - 07:53 | 851948 HamyWanger
HamyWanger's picture

This proves what I've said. Every obscure bad piece of news that can be found makes the headlines on Zerohedge, while very strong data is ignored. The global economy is improving, and the enormous 5% increase in factory orders in Germany last month is something that cannot be invented.

Thu, 01/06/2011 - 07:59 | 851961 Byte Me
Byte Me's picture

No doubt the 5% fac ord  is due to surging demand from Greece and Ireland..

Thu, 01/06/2011 - 09:11 | 852067 pat53
pat53's picture

Hey Harry, you need to stop mentioning all the good data, some of these fools might actually stop trying to short the market. We need these idoits to keep pushing stocks higher when they cover for huge losses  LOL  ...  BTW, looks like another day in paradise for the bulls and another day of gut wrenching losses for the bears  LOL Oh well, some fools never learn !!

Thu, 01/06/2011 - 18:59 | 854203 Hedge Jobs
Hedge Jobs's picture

This isnt "HarryWanger" folks it is "HamyWanger" member for 3 weeks.


Thu, 01/06/2011 - 07:56 | 851952 nmewn
nmewn's picture

Did anyone say "weaker than expected" yet?

Thu, 01/06/2011 - 07:58 | 851960 Oh regional Indian
Oh regional Indian's picture

Makes perfect sense that mammy UK hits the skids before it's child state the US of A gets one on the chin.

Every experiment that has been tried and has failed in the US has been tried to failure in the UK. They had a thriving, innovative engineering culture that was allowed to rot/disintegrate. They made a lot of things for a little country. Not anymore.

The people got to participate in real estate scams all over the map with funny money from the world over (Icesave anyone?), Spain, the West Indies, Dubai.... long list.

The real estate market is a mess, people are working their asses off in the service sector and drinking their woes away in 24-hour poobs. 

It's not a pretty picture, one way or the other.

And now they're getting earthquakes... go figure. Plus, clueless Indians hold some of their most prized assets. Laxmi Mittal, Tata and the Grosvenor was recently purchased by an Indian business house (a dubious one at that)....




Thu, 01/06/2011 - 08:17 | 851962 EscapeKey
EscapeKey's picture

The Pound Sterling is plunging on the news, but the equity market is predictably up. Apparently, bad news is strongly bullish.

Or, alternatively, traders have woken up to the fact that we're about to experience inflation down the road, and holding equity is better than currency.

Tesco will likely start selling 49 ounce coffee in 33 ounce coffee containers next (at the same price of course), hoping nobody will notice

I haven't yet noticed this, but the price of chicken breast in Sainsbury's undergoes almost weekly changes in price/weight.


Thu, 01/06/2011 - 08:04 | 851970 RobotTrader
RobotTrader's picture

Europeans are celebrating this news by buying more U.S. stocks.

SPY priced in Euros and AUD now making new highs again.

SPY priced in Gold has finally bottomed and is now starting to move up.

Thu, 01/06/2011 - 08:08 | 851976 EscapeKey
EscapeKey's picture

Charles Biderman still can't work out who is buying. But, problem solved, RobotTrader can confirm - without backing up with any kind of evidence - that it's the Europeans buying US stocks.

So, given the outflow of cash from Europe, who buys European equity? The US investors?

Thu, 01/06/2011 - 08:21 | 851985 Ferg .
Ferg .'s picture

Perhaps that's because the Euro/Aussie/Gold have all taken substantial hits in the last few days . I wouldn't read much into progress based on currency devaluation . Look at the Nikkei , whose run over the past two months can solely be attributed to Yen weakness ( USD/JPY bottomed out around the start of November , as did the Nikkei ) .

Thu, 01/06/2011 - 08:04 | 851971 Racer
Racer's picture

All this would matter if this was a ... stock... market ....and not a rigged casino!

Thu, 01/06/2011 - 08:05 | 851972 mick
mick's picture

The British governmant's latest plan is to introduce a new pub measure for beer - 2/3 of a pint.  Apparently its a "nudge" and they don't have anything more serious to be worrying about. 

Thu, 01/06/2011 - 08:10 | 851978 EscapeKey
EscapeKey's picture

That's how they control us.

In the US, they want to restrict gun ownership. In the UK, they restrict beer ownership.

Thu, 01/06/2011 - 08:40 | 852005 monkeyfaction
monkeyfaction's picture

You can take away our civil liberties, off-shore our jobs and devalue our currency, but if you mess with our beer you will feel the wrath of the British public and it will be severe.

Thu, 01/06/2011 - 08:12 | 851979 dcb
dcb's picture

haven't you read krugman and bernenke, ni inflation here

Thu, 01/06/2011 - 08:19 | 851984 iota
iota's picture

or 70 teabags in 100 bag boxes. Ohhh the fuckin' scandal then.

Thu, 01/06/2011 - 10:12 | 852223 Rodent Freikorps
Rodent Freikorps's picture

I think I owned something that was made in the UK, once. I just can't think what it might have been. Maybe a razor? Dunno.

Thu, 01/06/2011 - 10:21 | 852254 risk-reward
risk-reward's picture

Hey...is it true that the Quarter Pounder is now 0.20 lb?

Thu, 01/06/2011 - 10:24 | 852265 Rodent Freikorps
Rodent Freikorps's picture

You notice they already don't say it's a 1/4 pound of beef.

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