Inflation takes over as public enemy No. 1

[mobes]

Move over credit crisis, spiralling global oil prices have become the West's biggest economic worry
May 26, 2008 04:30 AM
Emily Kaiser
Reuters News Agency

WASHINGTON

[joeblow]

I have to confess something. I was secretly happy when I found out that the US was going to have massive inflation (thanks DBS/Muhammad Rafeeq http://www.iamthewitness.com !). I live in Sweden and never even would have guessed that this shit would hit Europe too. Prices are like 15% up around me (yes, I'm cheap and noticed).

[sullivan]

I have to confess something. I was secretly happy when I found out that the US was going to have massive inflation (thanks DBS/Muhammad Rafeeq http://www.iamthewitness.com !). I live in Sweden and never even would have guessed that this shit would hit Europe too. Prices are like 15% up around me (yes, I'm cheap and noticed).

Even though the EURUSD rate is increasingly favourable (import wise) to those in euroland, and if anything the price of oil-derived products should fall as a result, prices here have also gone up steadily. These days the increase in the price of petrol (gas to you folks Stateside) seems to be daily. It was inevitable, I suppose, that the parasites would use the opportunity to hoodwink those who are ignorant of the decline in the value of the dollar and how that ties in with having oil denominated in dollars.