• BullionStar
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UK Stagflation Pervasive: Industrial Production Plummets By Most Since August 2009

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Wed, 04/06/2011 - 07:53 | 1140128 TaxSlave
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Pray to God they don't run out of paper and ink!

Wed, 04/06/2011 - 07:59 | 1140138 Quintus
Quintus's picture

I should imagine that the paper and ink manufacturing sector contributed strongly to these IP results as the BoE places orders for mega quantities of new supplies in advance of the next round of QE.

 

Wed, 04/06/2011 - 07:59 | 1140139 Conrad Murray
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Wed, 04/06/2011 - 08:00 | 1140145 Quintus
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Yeah, we know they don't actually print the money, but it makes for blacker humour.

Wed, 04/06/2011 - 08:23 | 1140213 TaxSlave
TaxSlave's picture

Sorry.  Pray to God their databases run on 128 bit architecture.

Thanks for reminding us.

Wed, 04/06/2011 - 08:40 | 1140252 j0nx
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Fixed it for you.

Wed, 04/06/2011 - 09:28 | 1140393 Josephine29
Josephine29's picture

Actually the Bank of England gave us a hint as to its real fears yesterday.Take a look at this.

I am grateful to Bloomberg who have leaked a memo from Governor King to staff and my only concern is that it is dated April 1st! However in it Governor King promises to restrict rises in canteen prices whilst maintaining the quality of the cusine. Can you do the same for the rest of us please Governor?

http://t.co/1c7vRnH

 

Yes those non-existent food price rises are affecting the Bank of England canteen and leading to staff complaints....

Wed, 04/06/2011 - 08:02 | 1140142 Diidier
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Krugman announced that.

Wed, 04/06/2011 - 08:03 | 1140147 Horatio Beanblower
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MAN LIGHTS HIMSELF ON FIRE IN DAM

A man has himself Wednesday afternoon in the middle of the Dam on fire. WARNING: THE IMAGES ARE VEHEMENTLY. - http://www.at5.nl/artikelen/59951/man-steekt-zichzelf-in-brand-op-dam

 

"He argued with anybody, everybody out of the way to go, takes a lighter and lights himself on fire," said a witness against NIS Radio1. "Everybody tried to make coats out the fire." He spoke of children he had to eat you. "Another witness said the man had called" lost everything "to be - http://www.nrc.nl/nieuws/2011/04/06/man-steekt-zich-in-brand-op-de-dam/?utm_campaign=Feed%3A+NrcHandelsbladVoorpagina+%28NRC+Handelsblad+|+Voorpagina%29&utm_source=feedburner&utm_medium=twitter&utm_content=Twitter

Wed, 04/06/2011 - 08:29 | 1140185 Sudden Debt
Sudden Debt's picture

Holland... if they don't burn themselves they'll drown once global warming kicks in :)

 

To bad there weren't any Belgians arround... Otherwise they would have pissed on the guy untill the fires went out.

 

 

Wed, 04/06/2011 - 09:08 | 1140331 steve from virginia
steve from virginia's picture

God bless the Irish, they quietly drink themselves to death ...

Here's the poor Dutchman on the other hand is beaten to death by passersby with their coats.

Wed, 04/06/2011 - 09:40 | 1140427 Sudden Debt
Sudden Debt's picture

Violent people indeed...

 

Wed, 04/06/2011 - 09:24 | 1140376 Cone of Uncertainty
Cone of Uncertainty's picture

Haha, I love it, those idiot pedestrians fanning the flames so the man can burn more efficiently!!

Nothing like providing a heightened source of O2 so the fire will burn nice and bright.

What fucking retards.

 

Wed, 04/06/2011 - 09:43 | 1140446 Sudden Debt
Sudden Debt's picture

:)

 

Wed, 04/06/2011 - 10:44 | 1140784 MachoMan
MachoMan's picture

Stopping trying to save a burning man to tend the fire on your coat FTW!

Wed, 04/06/2011 - 08:05 | 1140151 quark288
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With the amount of digital money they have printed, if everyone starts withdrawing cash from the ATM's the world is pretty much going to end up with no trees.

Wed, 04/06/2011 - 08:11 | 1140176 Snidley Whipsnae
Snidley Whipsnae's picture

Fiat is made from cotton fibers, not trees...So, we would all wind up naked among the forrests...We would not be able to see the trees for the fiat...

Wed, 04/06/2011 - 08:36 | 1140246 the not so migh...
the not so mighty maximiza's picture

We will have to wear fruit like in that get smart movie

Wed, 04/06/2011 - 08:05 | 1140156 darkpool2
darkpool2's picture

so whats it to be?  keep kicking the can down the road US style (debt, liquidity baby) or try to start fixing the systemic problems the democratic system has wrought on the national finances and competitiveness. You can hit the wall suddenly with a big splat, or inslow motion ( still an eventual splat)  UK has chosen the latter, but the end result probably will not be less ugly. But please, dont think print and defer is the better solution. REBOOT.

Wed, 04/06/2011 - 08:14 | 1140186 sabra1
sabra1's picture

the elite bastards who control the banks, etc., want to improvish the world and enslave everyone! they have no intention of fixing anything!

Wed, 04/06/2011 - 08:39 | 1140251 EscapeKey
EscapeKey's picture

Don't misunderstand the elite; their interest is in collecting interest and fees. If this can somehow be combined with fixing the problems of the world, then great - otherwise, well, that's just too bad.

Wed, 04/06/2011 - 09:28 | 1140362 New World Chaos
New World Chaos's picture

A short, sharp collapse with lots of burning paper is best for us.  The NWO thinks on timescales of beaurocracy, so a drawn-out collapse would allow them to exploit the crisis and consolidate power.

Wed, 04/06/2011 - 08:10 | 1140175 Sudden Debt
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Who would have ever thought the Fish&Ships industry would ever decline...

 

 

Wed, 04/06/2011 - 08:16 | 1140187 Snidley Whipsnae
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England to revert to piracy of Spanish Galleons ladden with gold bullion from the New World...oh wait...England to establish pirate fleet to hijack oil tankers on the high seas...

England does what England does best...

Wed, 04/06/2011 - 08:23 | 1140212 Global Hunter
Global Hunter's picture

and the Spanish destroyed the Incas and Aztecs for it, what goes around comes around.  Now all the Europeans have joined together, next stop African resources phase 44.

Wed, 04/06/2011 - 09:29 | 1140405 Fíréan
Fíréan's picture

in reply to :

"Who would have ever thought the Fish&Ships industry would ever decline..."

 

    The food chain out in the high seas and dependent industry is heavily underwater.

Wed, 04/06/2011 - 08:11 | 1140179 savagegoose
savagegoose's picture

its cheaper to print extra zeros than more notes

Wed, 04/06/2011 - 08:12 | 1140182 EscapeKey
EscapeKey's picture

The other day I got bored of the usual "tax the rich" rhetoric and did an admittedly simplistic analysis of the feasibility of doing just that to solve the fiscal problems of the UK. Executive summary - it ain't gonna happen.

http://intrinsicvalueoffiat.blogspot.com/2011/04/on-financing-uk-budget-deficit.html

Wed, 04/06/2011 - 08:42 | 1140262 samsara
samsara's picture

EK

Liked your piece on

On peak oil, UK imports, and the economics behind it all

http://intrinsicvalueoffiat.blogspot.com/2011/04/on-peak-oil-uk-imports-and-economics.html

Wed, 04/06/2011 - 12:44 | 1141487 EscapeKey
EscapeKey's picture

Cheers.

I'm sitting doing some work on the pension cliff we're about to head over, which look not far off as bad as oil imports...

Wed, 04/06/2011 - 08:48 | 1140274 AdTheNad
AdTheNad's picture

How about a progressive land tax? 

Something along the lines of 0% for the first £1M of land value, 0.5% from £1M to £2M, 1% on £2M to £3M and so on.

I heard a stat that 70% of the land is owned by less than 1% of the population over here, http://www.progress.org/revwob.htm so you wouldn't even need to ramp up the % very high to soon have substatial tax revenue.

This is what keeps our elite elite, and would help pay the costs of the negative externalities bourne by everyone else when so much land is owned by so few.

Wed, 04/06/2011 - 12:48 | 1141495 EscapeKey
EscapeKey's picture

Quite possibly, but it was outside the scope of the post...

Wed, 04/06/2011 - 08:52 | 1140291 Conrad Murray
Conrad Murray's picture

Nice work, cheers!

The US version for those who haven't seen it yet, http://www.youtube.com/watch?v=661pi6K-8WQd

Wed, 04/06/2011 - 08:14 | 1140188 New World Chaos
New World Chaos's picture

Well, that's what they get for being the NWO's guinea pig.  But don't worry, the five-year plan calls for a new dawn of prosperity based on more traffic cameras, discrimination lawsuits, wheelie-bin gestappo officers, leveraged gold paper-shuffling, and heaps of child benefits for chavs, yobbos, Gypsies, and Somalis. 

Wed, 04/06/2011 - 08:26 | 1140218 Global Hunter
Global Hunter's picture

great post.

Wed, 04/06/2011 - 09:28 | 1140306 New World Chaos
New World Chaos's picture

Thanks.  Here's a couple sick jokes for you:

How many Labour beaurocrats, council snoops, shrinks, lawyers, and social workers does it take to run a forced adoption racket?  Send parents to jail for waving and sending birthday cards?
 
http://www.prisonplanet.com/social-scare-cops-take-kids-away-in-forced-adoption-racket.html
 
...stop kids from biking 1 mile to school?
 
http://www.dailymail.co.uk/news/article-1291970/Couple-threatened-social-services-children-ride-bikes-school.html
 
Apocalypse Now!  Mad Max is good for the soul!

Wed, 04/06/2011 - 10:11 | 1140551 writingsonthewall
writingsonthewall's picture

Please check your sources more carefully before you quote them as gospel.

http://www.youtube.com/watch?v=5eBT6OSr1TI

In this country the daily mail is a bad joke - it's one up from the 'Dandy' and the 'Beano'.

Wed, 04/06/2011 - 16:09 | 1142533 Bubbles the cat (not verified)
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He he. V amusing. Probably lost on most here.

Wed, 04/06/2011 - 08:14 | 1140189 Hephasteus
Hephasteus's picture

Let me see. 15 percent inflation. 1.5 percent drop in gdp. That = 16.5 percent decrease.

Looks bad.

Wed, 04/06/2011 - 08:17 | 1140196 Cash_is_Trash
Cash_is_Trash's picture

Yes, that is bad. But in these times of twisted logic:

Bad ≠ Bearish

Wed, 04/06/2011 - 08:15 | 1140194 Cash_is_Trash
Cash_is_Trash's picture

Will we have a delicious dip today? Or will it be BULL MARKET?!

Wed, 04/06/2011 - 08:18 | 1140199 Snidley Whipsnae
Snidley Whipsnae's picture

Bored algos continue soaring while playing multiple 3D chess games...

Wed, 04/06/2011 - 08:33 | 1140238 Hephasteus
Hephasteus's picture

Relative to what?

We live in a world with huge inflation and shrinking gdp.

We have a huge bull market that's a bear ripping peoples arms off relative to gold.

You best define your relative boundries before asking such questions.

Wed, 04/06/2011 - 08:17 | 1140197 wandstrasse
wandstrasse's picture

snow?

Wed, 04/06/2011 - 08:20 | 1140198 williambanzai7
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Imagine you are a poor working stiff in London where prices are driven by Russian oligarchs, Arab oil princes and Bankstas...

Not a pretty sight.

Wed, 04/06/2011 - 08:29 | 1140233 Cash_is_Trash
Cash_is_Trash's picture

London's Burning...overdue aren't we?

Wed, 04/06/2011 - 08:38 | 1140249 samsara
samsara's picture

Imagine you are a poor working stiff in London where prices are driven by Russian oligarchs, Arab oil princes and Bankstas...

 

To be fair, Yes and No.

Has ANY country done ANYTHING in the last 30 years to change our Energy Expectations and Consumption?

Since Jimmy Carter's 'Sweater Speech'?    (Banksters Yes.)

Why are they in the bag with Russian Gas and Oil sellers?

Did they use the North Sea bonanza for the energy well being of their country?  or did they sell it as fast as they could pump it?   How about the US with the North Slope?  Did we use that to make ourselves energy independant?  Fix our Rail Systems?

I think equal blame is on the Drug User as with the Drug Pusher...

 

Wed, 04/06/2011 - 08:31 | 1140224 falak pema
falak pema's picture

Fish and chips will be back with a rage wrapped in greasy paper like in my young days!!

Maggie Thatcher must be wanting to emigrate to Chile!

Do you think MU will emigrate to Dubai or Abu Dhabi? Their players are already spending half their lives on their golf courses!

Wed, 04/06/2011 - 08:29 | 1140225 Caviar Emptor
Caviar Emptor's picture

Biflation spreads from US to UK. As the real economy tanks, the paper economy bloats causing inflation despite dropping demand and production. 

Lotsa Luck, British Isles! Welcome to the club. 

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