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

Tyler Durden's picture

Comment viewing options

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

Pray to God they don't run out of paper and ink!

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.

 

Conrad Murray's picture
01000100 01101111 01101110 00100111 01110100 00100000 01110111 01101111 01110010 01110010 01111001 00101100 00100000 01110111 01100101 00100111 01110110 01100101 00100000 01100111 01101111 01110100 00100000 01110000 01101100 01100101 01101110 01110100 01111001 00100000 01101111 01100110 00100000 01111010 01100101 01110010 01101111 01110011 00100000 01100001 01101110 01100100 00100000 01101111 01101110 01100101 01110011
Quintus's picture

Yeah, we know they don't actually print the money, but it makes for blacker humour.

TaxSlave's picture

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

Thanks for reminding us.

j0nx's picture

01000100 01101111 01101110 00100111 01110100 00100000 01110111 01101111 01110010 01110010 01111001 00101100 00100000 01110111 01100101 00100111 01110110 01100101 00100000 01100111 01101111 01110100 00100000 01110000 01101100 01100101 01101110 01110100 01111001 00100000 01101111 01100110 00100000 01110000 01100001 01110000 01100101 01110010 00100000 01100001 01101110 01100100 00100000 01101001 01101110 01101011

 

Fixed it for you.

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....

Diidier's picture

Krugman announced that.

Horatio Beanblower's picture


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

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.

 

 

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.

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.

 

MachoMan's picture

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

quark288's picture

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.

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...

the not so mighty maximiza's picture

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

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.

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!

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.

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.

Sudden Debt's picture

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

 

 

Snidley Whipsnae's picture

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...

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.

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.

savagegoose's picture

its cheaper to print extra zeros than more notes

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

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...

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.

EscapeKey's picture

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

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

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. 

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!

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'.

Bubbles the cat's picture
Bubbles the cat (not verified) writingsonthewall Apr 6, 2011 4:09 PM

He he. V amusing. Probably lost on most here.

Hephasteus's picture

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

Looks bad.

Cash_is_Trash's picture

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

Bad ≠ Bearish

Cash_is_Trash's picture

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

Snidley Whipsnae's picture

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

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.

williambanzai7's picture

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.

Cash_is_Trash's picture

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

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...

 

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!

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.