UK Misery Index Hits 20 Year High

Tyler Durden's picture

Earlier we briefly noted the surge in UK February inflation which coupled with the ongoing decline in GDP, and increased deficits indicates that the UK economy is in dire need of reliquification, which alas won't come (or so the rumor goes) precisely courtesy of ongoing money printing. Just confirming this deterioration visually is the UK Misery index (combination of inflation and unemployment), which has just hit a 20 year high.

Courtesy of Reuters

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Harlequin001's picture

I thought the worst investment was Madoff, or lending to a European government...

EscapeKey's picture

Contango on USO is horrible. Makes for great investments when oil goes down, however. Unfortunately, I don't have the balls to go short oil with peak looming.

I suppose you could short, with call options as a hedge. One hell of an expensive hedge, though.

TomJoad's picture

Where is the ETF to short happiness, 'cause I want to go all-in on that MF'er.

The Fonz's picture

I too would like to invest in a ETF 100x leveraged short happiness and long oppression fund. Then all the misery around me will seem like a good thing! Suffer more bizachts.

I am going to beat helpless bunnies with a splintery bat to speed along my investment. ttl.

jus_lite_reading's picture

Wait! The Unemployed Kingdom is suffering? Recovery underway! Hairy Wanker sells one roll of self stick curtains.

Thorlyx's picture

only bullish news today !

kris's picture

from a contrarian point of view you are absolutely right!

Sudden Debt's picture

Looks like drinking their misery away didn't really help...

Maybe they should ask Ireland for a hand?

 

Oh regional Indian's picture

Perhaps if they chilled their beer they would warm up a little?

ORI

Oh regional Indian's picture

Perhaps if they chilled their beer they would warm up a little?

ORI

TruthInSunshine's picture

Let them eat Fukushima Yellowcake.

 

I'll be damned if we aren't going to see global Q3 economic contraction with the likelihood of more of the same in Q4.

A Man without Qualities's picture

When you say "see", to you mean officially stated or just a sense that the global economy is contracting despite the positive numbers?  My gut tells me we've been contracting since Q4 of last year, but they are "protecting" us from the harsh realities...

TruthInSunshine's picture

I would concur, but I think that even they won't be able to hide the ugliness of it all for too much longer and may even use it as sacrificial lamb on the altar of QE.

dick cheneys ghost's picture

Its coming here..........things wiill get worse. Large Protests in Nevada's Capitol City

 

http://nakedempire2.blogspot.com/

Sudden Debt's picture

ps: UK inflation in 2 months = 4.4%

 

Harlequin001's picture

Onward and upward, as they say...

EscapeKey's picture

That's the official figure. However, dig into the ONS CPI weight report, and you'll find a lot of controversial figures, such as the transport weight has remained static for 10 years, which is absolute bullshit.

New annual report out in a months time. Should be good to see their estimate of food weighting.

http://www.statistics.gov.uk/CCI/article.asp?ID=2402

Sudden Debt's picture

What amazes me it that nobody has every added the inflation number to the % drop in house values.

For example:

 

If inflation is 4%

and housing values drop 4%

Total = 8% drop in real estate value

 

just saying... :)

EscapeKey's picture

A mixture of real and nominal figures - don't give government statisticians any ideas, please.

Absinthe Minded's picture

They only use statistics that make the market look better, not worse. I know where I work we're having great sales but like everyone else profit margins are squeezed paper thin. We use asphalt in our manufacturing process, and lots of it, how's our outlook? PM's baby, and I don't mean prostate medicine.

Absinthe Minded's picture

Trip, frickin'slow server today. or is the hammer finally coming down.

TruthInSunshine's picture

Pink Floyd reports that both pudding and meat are skyrocketing.

aheady's picture

We're so happy we can hardly count.

Greater Fool's picture

Look at the sky,

Look at the river:

Isn't it good?

malikai's picture

That's cool, I'm long misery.

Fredd00's picture

Misery train bitchezz

John Law Lives's picture

Well, at least TPTB in the UK admit they have inflation.  The Ben Bernank refuses to accept any claim that inflation exists in the USA.

reload's picture

Admit it, and at the same time admit their inability to do anything about it. It feels so long since there was some optimism on main st uk. In fact it was only 4 or 5 years ago, and the optimism was of course credit fueled and misguided. No sign of what will lift us out of the current slump - and it is a slump, unless you work in a government protected monopoly. For most of us in business it is a struggle which gets less rewarding month by month. We have had some much needed government austerity, where is the stimulus to get the private sector investing and producing?

EscapeKey's picture

They are discussing corporate tax breaks.

However, this has lead to the obvious socialist outrage. Gordon Brown voters (aka "fucking morons") don't think public sector spending to the level of 53% of UK GDP is anywhere near enough. According to them the deficit is a myth, private debt loads can expand forever, and there is plenty of money to hire even more public servants, who should all have generous pensions, of course.

Absinthe Minded's picture

Where have I heard that before? Seems like head in ass disease is on both sides of the pond.

dbTX's picture

the only stimulus that will work over a period of time is major, permanent tax cuts, it's that simple.

overmedicatedundersexed's picture

"the only stimulus that will work over a period of time is major, permanent tax cuts, it's that simple."

..........

wish it were so..but until elite banksters and pols go to jail and their ill-gotten gains are returned  there will be no recovery

no justice no recovery.

MachoMan's picture

Right.  You only get to implement the laissez faire system when the playing field is EQUAL.  To start the race at this point, given their head starts, would be less than honest.

Thorlyx's picture

and if there was, he could stop it in 15 minutes.

Greater Fool's picture

...and crush the economy in the process. But you have to admit that Fed's pile of Treasuries give it the Tsar Bomba of interest-rate-raising tools. No need to fool around with Fed Funds--just go sell some 10-years and watch the fireworks!

Miss anthrope's picture

Gully, the misery index is perhaps tied to the debasement of the society as much as the CPI, huh?

reader2010's picture

WWIII will be started, and unemployment rate falls back to 0%. 

docj's picture

This is bullish.  Right?

Johnny Lawrence's picture

Anyone read how Obama encouraged Brazil to produce more oil so the United States can be one of its "best customers?"

Broomer's picture

Brazilian here.

No, but after you mentioned it I used some Google magic.

Oh fuck...

Nothing good comes from America saying "That's some nice oil you have there"

Last time America sponsored a dictatorship here [ http://www.gwu.edu/~nsarchiv/NSAEBB/NSAEBB118/index.htm ], it lasted for twenty years.

dammitdammitdammit