Super Thursday

It's 'Super Thursday' today, as I'm sure you were aware. No neither do I - but I guess it's something to do with a load of economic decisions being taken (the ECB interest rate) and data coming out (the US unemployment figures) and UK service sector figures - - still awake?
Here it is condensed a bit:

Inflation is going up. To stop this interest rates in Europe must rise.

If interest rates rise, the Euro becomes more attractive to savers.

Savers sell dollars and buy Euros.

The Euro appreciates in value against the dollar.

Thus the dollar falls in value.

Commodities priced in dollars therefore rise in price.

Oil is priced in dollars, thus the price of oil rises.

If the oil price rises then the price of everything else also rises.

If the price rises almost by definition inflation rises.

Thus, er, raise interest rates. (Continue ad unemploymentum).


But cheer up Kylie Minogue's won an OBE for her 'Services to Music' (what's that "Because she's not releasing an album this year or something?" - shame on you for thinking something so cruel), well if Henry Kissinger can win a Nobel Peace Prize, Tony Blair become a Middle East envoy why not. . . .