Confidence to all extent

We are the happy happy people!

Stefan Ingves the manager of the Swedish federal reserve spoke on the Swedish state radio for 90 minutes in the popular summer talks. He talked about his career. His job has been to handle krises when they occur caused by excessive lending. Either by the banking sector or by governments in different countries worldwide.

His job is to tell sweet little lies to the lenders to keep them calm and then spray some new printed money from the IMF to extinguish the flames. To get an impression of how bad it really takes longer time.

Like with traffic accidents where media reports about no deaths but some serious wounded. The matter of fact that the seriously wounded will suffer for their entire life, either as disabled or as vegetables in an institution without human dignity, will not be of any awareness for the public.

The people in the countries that defaults will probably suffer for decades or lifetimes. The customer of the banks will see their savings disappear. Pension funds are vanished, while the income is too low to spare a cent.

But in socialistic countries there are no such problems. Have you ever heard of an economic depression in Nort Korea. Or recession in the old DDR or Soviet. In countries where the party control all media, science, education, and the trade unions nothing bad will happen the people. No one can default because they are not allowed to own anything.

Stefan Ingves have been the manager of the Swedish Riksbank (the Swedish federal reserve) since 2006. His job has been to maintain the inflation to 2%. While keeping the interest rate negative for 6 years, where people can take up unlimited obligations. The federal reserve buys all the mortgage from the banks to save the political establishment.

Every year when real estate value goes up 15 to 20% the GDP gets a boost, while a new chunk of money enters the Swedish economy. The tax incitement to borrow more money each year makes the people extremely leveraged. They experience that if they don’t lend money each year, they lose some part of their income.

Stefan Ingves has not been much exposed in the Swedish state controlled media, but every now or then he chucks something about that the private lending is high, or that the one who is in debt is not free, from the TV screen.

This is called the third way of economics. A mix of a capitalistic society with the communism. From the people’s point of view the society is capitalistic, where they lend money to their investment. The market is in charge, and if the price goes down, or if they fail to pay the mortgage, and default. This will cause an economic havoc lasting for the rest of their lives.

The debt burden will follow into the bitter end, where the only way to get rid of your debt is to get rid of themselves. The norm what you will be admitted keeping of your salary is decided centrally by the socialistic government by input from the calculated consumer price index CPI. This will charter for a life without any kind of dignity. No jingle mails in Sweden!

From the finance sectors point of view, they live in a communist society, where the people must show solidarity and take all defaulted debt on their tax bill. The lender institution keep the property on their balance sheet or sell the property. In this way the same property will act as security 2 times, where the money emerges into the Swedish economy and add to the GDP.

The defaulted loan is still an asset in the bank’s balance sheet as well as the new credit. Abracadabra the socialistic country can show the best compliance with the European community congruence rules. The debt to GDP ratio is amazing!

In an article from one of the Swedish subsidised newspapers SVD, we learn that the Swedish Bureau of statistics weight the increase of benefit when calculating the consumer price index. It was so interesting that I decided to ´translate it by Google. The translated article can be read here here, the Swedish original can be found here, and the link to the article can be found here.

In the article we learn that the statistic for inflation is compensated for the additional value of the products in the consumer price index basket. The method for the compensation of the CPI is decided by a board consisting of people from the Swedish federal reserve (Stefan Ingves), the government ministry of finance (the social democratic party) and the authority for the Swedish government think tank for analyse of the market (The Conjuncture institute).

The article is so encouraging. The Riksbank shall be free from political influence in their strive to maintain the 2% inflation target. However, the federal reserve meets with the government a couple of times a year to adjust the method for how to measure the inflation. Then they go home to their office and tries to predict the inflation, to be able to adjust the interest rate to reach the inflation target. Since mobile phones has been 90% cheaper since 2013, they must keep the interest rate negative for 6 years.

Who made bokkeeping a science?

Price for real estate is not a part of the CPI calculation, since it is only the interest rate that counts for the people who borrow money for their living. Most banks in Sweden accept home loans where the amortization starts after 15 to 25 years. However, the real estate sales each year adds to the GDP figure. No need for a sovereign fond when the real estate prices increase 15-20% each year.

All people in Sweden still believes they are wealthy since the price of their homes doubles each 5th year. The state media and the subsidized newspapers tell people that they must hurry in to the real estate market as soon as possible, to make the “accommodation career”. The sky is the limit.

Now when people feel the heat of the inflation, and soaring interest rates, the government media tell them that it is temporary. The Social”democratic” party and the trade union is the same entity. They have decided that the salaries shall not be compensated for inflation, to reach the “full employment philosophy”. The Swedish worker shall be solidaric with the ones who don’t have a job. How low salary must the average Swedish employee accept before the analphabetic eight child mother from Somalia will be employed?

At the labour federal union (LO) homepage we find education material about inflation. The message is that if the salaries don’t rise there is no inflation, and the worker will be wealthier in the long term. The proletariat shall be solidaric with their one-party state and keep the salaries low, to avoid inflation.

Within the duckpond of the one party state. The bureau of statistics manipulates the inflation figures to fit the money printing vehicle via the real estate market. The GDP figure contains a great chunk of the non-productive pumping of real estate prices. How much, 50% or more? What other figures are manipulated in the one-party state? Remember that the Greece was a tributed economy 2008 until their fraud with manipulated figures was discovered.

In the “Sweden GNI Inventory” release by Sweden statistics 2016 and revised 2019 we can read the following:

Since the middle of the 1990s Sweden has a decentralized statistical system. Much of the responsibility for official statistics in defined sectorial areas was then transferred from Statistics Sweden to other government authorities. Statistics Sweden continues to be responsible for multi-sectorial statistics, while other agencies are made responsible for other parts of the statistics. Today 27 public authorities have statistical responsibilities (SAMs). The statistical authorities decide on the content and scope of statistics within the statistics area(s) for which they are responsible. Except for Statistics Sweden there are no special appropriations for statistics; funding for statistics is included in the authorities’ appropriation framework for their main task.

Page 2 first clause.

The social democratic strategy to divide the figures in 27 different authorities controlled by the party. This makes it possible for the party to manipulate the figures, and impossible for anyone external to get an overview. Additionally, the report mentions some different ways to calculate GDP, but does not reveal what method is used in Sweden. Another aspect is what statistics is not compiled. The average of debt to income ratio ins Sweden is not compiled. I assume the ration will be 11 to 15, if the real statistic for income is used.

It is not a coincidence that the Swedish Riksbank gives the price for the best confidence trick to the memory of Alfred Nobel each year.

I have heard rumours that the national debt of Sweden is twice as high as the official 1075 billion SEK. That Sweden has used the Swedish pension funds as security for loans on the market. That the party has ordered the managers of the Swedish pension funds to invest in Swedish state bills. Does anyone have inside information to confirm this?

The question is why the state subsidized newspaper SVD reveal the inflation figure manipulation right now. Most probably the state propaganda apparatus shall now convince the Swedes that there is no inflation. That figures about inflation are not trustworthy and must not be compensated for.

They might fool the ruminant Swedish people. But do they fool you?

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