Friday 10 February 2012

Chinese inflation soars


Since this came in the Greeks have caved in to Diktat.

Comment from Mike Ruppert:
Inflation is the financial face of the bear attacking the camp. China is not standing outside the waters of collapse, safe and secure. China is going under too. The net result is that every major world government and sub-economy is fighting to get to a higher deck of the Titanic. And rather than liberating their peoples to give them a chance at survival, the governments are dragging billions to a higher deck on the Titanic of Infinite Growth.
Abandon ship. -- MCR
Chinese Inflation Comes In Way Hot , Food Prices Surge -- Markets Drifting Lower Around The World
Chinese Inflation Comes In Way Hot , Food Prices Surge -- Markets Drifting Lower Around The World


9 February, 2012

4.5%. That was Chinese CPI for January. Analysts had expected 4.1%.


Food costs, accounting for nearly a third of the basket, rose an annual 10.5 percent in January, higher than the 9.1 percent recorded in the previous month.

The Producer Price Index, a factory-gate measurement of inflation and a harbinger of future CPI, expanded 0.7 percent from a year earlier in January, compared to 1.7 percent in December.

Those hoping for/betting on more easing will be disappointed with these kinds of hot numbers. On the other hand, disinflation isn't a great economic sign either, so there is a positive spin to all this.

Markets are selling off around the world.

Japan is down 0.6%. Australia is down 0.8%. US futures are over 0.3% lower.

We'll see what happens with the Greek reform negotiations. Probably the next thing people will be watching tonight.

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