Thank God European Inflation Is Under Control: Charting Italian CPI

Tyler Durden's picture

The ECB cutting rates to preserve zee price stabeeleetee? Sure, great idea. What about the one and only actual mandate: inflation. Well, here is what it looks like in Italy. Thank god it is under control. In other news, the ECB is now on collision course with reality and Germany, having used up its last remaining bullet.

Source: Bloomberg

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GeneMarchbanks's picture

How's that Goldman headquarter in Milan doing?

Mario sure does love 'his' people...

defn8Dog's picture

The ubiquitous Goldman... in at the start of the Euro crisis, former employees Corzine, Draghi, the list will go on.  The Squid Overlord. 

HoofHearted's picture

They need to talk to the Bernank. If they take out unnecessary items like food and fuels, and only consider the price of hosuing and of iPads, voila...the situation is handled! We don't see no stinkin' inflation!

whatsinaname's picture

I see LOTS of MSM articles these days harping on the shale NG boom in N Dakota, Eastern Ohio, Pennnsylvania and Texas. What is the potential impact of such a hypothetical boom on gasoline prices in the US, the USD and economy in general ? Is that the panacea for all our ills ? Wonder if some oil experts would care to comment..

The Axe's picture

UK inflation only 5.2 percent

Bicycle Repairman's picture

The "solution" will be inflation in the range of 2% to 10% every year until the situation clears.  Outrage will be met by lies, shrugs, blank stares and state-sponsored violence.

AngryGerman's picture

Underage hookers expensive. Poor bunga. hell be glad he had his ass hair transplanted onto his head a couple years ago already

pendragon's picture

inflation is a lagging indicator. the eurozone is going to the ice age

Abitdodgie's picture

With the north atlantic drift almost stoped they will be in an ice age, starting this year.

tmosley's picture

Last I heard, it was actually speeding up.

UP Forester's picture

Gee, I haven't heard anything about it since 95% of the UK was snow-covered last December, Paris and Berlin airports were snowed-in, and the Alps had record snowfall.

Must be forecasting a warm winter, judging by the nice weather on France's Riviera....

DeadFred's picture

How does one say 'transitory' in Italian?

hedgeless_horseman's picture



Transitorio.  It is most often combined with the noun, fedeltà, meaning fidelity, and used to describe marriage, financial contracts, treaties, and price quotes.

Overflow-admin's picture

Inflation bitchez!

Irish66's picture

I have headline fatigue

Schmuck Raker's picture

There's a Blue Pill for that.

SheepDog-One's picture

Ignorance is bliss, just look at permabulltard posts!

Cdad's picture

Excuse me...maybe I'm stupid...but doesn't the rate cut reverse the entire long Euro trade?  And doesn't that lead to a massive US dollar rally?  And doesn't that mean that the response this morning by WTI is...ummm....wrong?  And doesn't this mean that the DOW, with all of its weak dollar benefactors in trouble on the FX component of their earnings?

In short, isn't the entire market reaction to the news that the ECB is now abandoning its one and only mandate is...ummm...wrong?

Just asking...

Cdad's picture

DTO...just as soon as the delerium tremors commence.  Better leverage here.

youngman's picture

I can´t understand why Gold and Silver have not trippled this last month with all the news.....the paper money is toast...anyway I look at it...its print print print..

trampstamp's picture
You would think since when they hiked the last 2 times the Euro rallied massively. I could only think this good for the dollar and bad for stocks. Take a shit MF! Fucking goal post movers!
Cdad's picture

Much more than "you would think."  Seems like a lock to me.  That Euro should tank...albeit not before criminal syndicate Wall Street bankers convert on their dumb ass equity positions taken yesterday.

Hansel's picture

ECB is at 1.25%, Fed is at 0% until 2013.  I'm not seeing "a lock," but then I don't like either one.

GeneMarchbanks's picture

No. You see, the Chinese are now buying the €. Printing = good. Repeat as necessary.

Cdad's picture

Umm...the Chinese have already said, "No thank you.  We are not dumb money." [even though they are the ultimate dumb money]

FeralSerf's picture

What they say and what they do is not always the same thing.

reading's picture

two words:

virtual reality

The markets (every one of them this morning) look like a crack whore on their last hit. But that's ok I am sure someone will hook them up to a drip to keep the high going.

Cdad's picture

We should see major delerium tremors soon as that last hit wears off.

SheepDog-One's picture

We SHOULD, but will we?

sabra1's picture

once the transfer of wealth is complete, will the markets crash, so those with all the big bucks can swoop in and claim it all!

LawsofPhysics's picture

Yes, same as it ever was.  The game is rigged, don't like it?  DON'T play.

LongBallsShortBrains's picture

I can't help but play.... I'm like that retarded kitten that won't leave it alone because it is MOVING. stupid kitty.

FeralSerf's picture

As long as you're breathing, there's no way to not play.  You may not consciously play, but play you must.  That's a fact of life for livestock.

qussl3's picture

The 2nd largest CB is no longer tightening, yield spread still in their favor.

Positioning still very short EUR.

EUR most likely rises.

I so want to be wrong tho, cos that would mean cheaper PMs.

Cdad's picture

I think you will get cheaper PMs...those priced in dollars.  Just as think the WTI reaction is wrong, so too is the GLD knee jerk wrong.

qussl3's picture

I think so too, putting my money where my mouth is.

EUR is floundering abit now, but i seriously doubt a collapse to the 1.20s or below that everyone is so convinced off.

It would take a French dwngrd or DMs making a reappearance to smack the EUR, not with Banana Ben and his rate pledge.

I'm buying all PM dips, but the volatility is going to be epic.

Fun times.

topcallingtroll's picture

It was reported on TV that gold is not backed by the Fed.

Everyone knows to run to the dollar when scared, cuz it is backed by the government.

Captain Benny's picture

Yes, you're exactly right which is why I'm scratching my head as well.  The only thing I can think of is "low volume melt up" from HFTs

Cdad's picture

Half life of a Mayfly, I would think.

Abitdodgie's picture

You would think so ,but this is THE NEW market, so all news is bullish

DeadFred's picture

I agree. The SnP pushed up to the 50% retrace of the recnt drop and stalled. I'll never again be surprised by anything the markets do but I'm expecting they realize the error of their ways. Time now to take advantage of it.

IAmNotMark's picture

I think the reason is:  Insanity.  Total insanity.  The market is in a straight-jacket, crouched in the corner, babbling and giggling, mindless and souless eyes watching the events of the world.

But I could be wrong.

Captain Benny's picture

The S&P500 melt up resumes for absolutely no good news.  

azzhatter's picture

How about that 397,000 jobs print??   Green shoots

jay28elle's picture

...phewy, don't need no stinking good news for a good melt up.  No reason to start now.

qussl3's picture

DMs coming back would really spice up this party.

Saxxon's picture

Stink bid in for more SPXU at premarket low.  My SPXU limit sell filled last night 7:59 EST, like a gift from Santa and the Tooth Fairy . . . luckiest trade all year.