Posted on 04/10/2024 1:52:34 PM PDT by EnderWiggin1970
The past week of Swedish politics has been a mysterious case of a dog that should have barked, but then simply didn’t. In a barely covered press release, the Riksbanken — Sweden’s central bank — announced that it had lost some 44 billion kr (£3.2 billion), and needed that much money from the state in order to return to the minimal level of capitalisation stipulated by the law. For a small country such as Sweden, this is a very large sum: it represents fully half of what the state spent on defence during the 2023 fiscal year.
The reasons for this new hole in the budget aren’t particularly unique: like every other country in the West, Sweden got too used to zero-interest policies being the new normal, and only belatedly caught up with the new reality brought about by post-Covid interest hikes. The central bank thus engaged in a game of buying high and selling low: loading up on bonds at a point where interest rates were low, and then offloading them when the rates shot up and the economy began taking a turn for the worse.
(Excerpt) Read more at unherd.com ...
” The Swedish Right, in other words, is busy instituting a Left-leaning reform that some significant parts of the Left do not want, over the stringent objections of many politicians on the Right, and in total contravention of the desires of voters on the Right. “
Boy ! This sounds familiar !
How the hell did they lose 44 billion Krone?!
I just saw a graph of the usage of the word “decadent”. It’s usage has been on the rise for quite some time.
Not to me, either.
Wiki claims that Malcom Kyeyune has described himself as a Marxist in the past.
Apparently, he started drifting towards something like right wing Populism in the recent past.
Did you check out the Comments on your link?
I have not seen commentary this good since I stopped reading The Economist in the 1990s, which, at that time, was moving further and further away from its Classical Liberal roots.
Wiki says the author is Swedish.
His thumb nail photo (on your link) looks like he is at least half African, so he may have an interesting personal history.
How come the Political Left never breaks ranks?
Their self-discipline is amazing and absolute.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.