Tag Archives: Sweden

What the heck is happening in Sweden? Negative rates, cash bans, housing bubble and enormous debt, by Andrew Moran

Sweden may be a preview of monetary coming attractions in the US. From Andrew Moran at economiccollapsenews.com:

We have a message to all of the Bernie Sanders supporters and those who are fixated on Scandinavia: give up your obsession of Sweden. It doesn’t do anything to further your case as there are a lot of downward trends transpiring in the nation of Ingmar Bergman films, Ikea products and meatballs (SEE: ‘Socialist Paradise’ Sweden suffering from swelling debt levels, employee absenteeism).

The main question that must be asked, however, is this: what the heck is happening in Sweden?

Sweden is on the cusp of being the very first nation in the world to conduct an economic experiment of this kind: negative interest rates in a cashless society. That’s right. The central planners are charging you to save your money in a bank, while eliminating the use of cash. You’re stuck if you’re living in the home of beautiful blondes and August Strindberg plays.

Last week, the Swedish central bank (Riksbank) announced that it would leave its benchmark interest rate unchanged at -0.35 percent, a rate that has been instituted since the summer. There were talks of Sweden going deep into negative rates, but it instead opted to go for another round of its own version of quantitative easing.

Financial institutions have yet to impose negative rates on Swedish consumers, but many economists do believe the central bank will keep this negative rate policy for a while. This means retail banks will have no other choice but to start implementing negative rates and passing the costs to its customers.

To continue reading: What the heck is happening in Sweden?

Europe’s Refugee Crisis Blowback—-Even Sweden’s Socialists Are On The Run, by Pater Tenebrarum

Sweden goes Trump! Next thing you know Pat Buchanan and Ann Coulter will top Swedish best seller lists. SLL has long maintained that open borders and welfare states are incompatible. You can have one or the other, but not both. Sweden is finding out the hard way, and the Swedish people are starting to rebel. From Pater Tenebrarum at davidstockmanscontracorner.com:

A Sharp Turn in Swedish Politics

When we recently discussed Europe’s refugee crisis, we mentioned that a sizable political backlash was to be expected and that unfortunately, extreme nationalist parties were likely to be among the main beneficiaries. We also mentioned the situation of Sweden, where the mainstream political parties in an ongoing fit of political correctness bordering on lunacy have apparently decided to transform Sweden into a province of Mesopotamia.

We now have an opportunity to draw these two threads of the narrative together, so to speak. In Sweden’s 2006 general election, the “Sweden Democrats”, a political party founded in 1988 and considered “right wing fringe” up to that point (it self-describes as “social conservative with a nationalist foundation”), managed to make large gains in a number of Swedish municipalities. In the 2010 national election, it finally crossed the 4% threshold needed to obtain seats in parliament, polling 5.7% (this gave it 20 seats).

In the 2014 election, the party received 12.9% of the vote, winning 49 seats (14% of the total). In Scania County, its share of the vote (22.16%) put it in the lead before one of the two major established mainstream parties for the first time. In the Riksdag, Sweden’s parliament, the Sweden Democrats are “isolated”, as the other parties refuse to cooperate with them in any shape or form. We suspect that this underdog role has actually solidified support for the SD as the “only alternative”.

Similar to France’s Front National, the SD’s (relatively young) leadership began “mainstreaming” the party by excluding members thought to hold too extremist views (back in the 1990s, a few members of the party were caught prancing about in Nazi uniforms, which is definitely not a sign of respectability). Without a doubt it has succeeded in creating a more moderate image. However, its old slogan “Bevara Sverige Svenskt” (Keep Sweden Swedish) remains in use.

On August 20 of this year it became clear that “business as usual” is over for good in Sweden. This was the day when polls established for the first time that the SD was now the leading party in the country, receiving the support of more than 25% of voters (the poll question was: “which party would you vote for if elections were held today”).

To continue reading: Refugee Blowback in Sweden