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Sweden Warns Of Dire "Consequences" From Massive Housing Bubble, Heavily Indebted Households
Late last month, Sweden tripled down on QE, as the Riksbank announced it would expand its asset purchases by SEK65 billion. Or, visually:
The recent history of Swedish monetary policy is viewed by some as a cautionary tale about what can happen when a central bank attempts to normalize policy too “early.” As a reminder, the Riskbank began raising rates in 2010. Reminiscing about the bank’s decision four years later, Paul Krugman blew a gasket on the way to accusing Sweden of being a nefarious lot of job hating heretics hell bent on perpetuating global inequality by enriching creditors at the expense of impoverished debtors.
Of course Krugman needn’t have been so hard on the Riksbank. After all, they reversed course a little over a year later and since then, it’s been nothing but easing as the repo rate fell 35 bps into negative territory.
The problem, as we've documented quite extensively, is that Sweden's adventures in NIRP-dom have done little to boost inflation (to be fair, unemployment has fallen).
For the Paul Krugmans of the world, that's evidence of a hangover from the series of hikes the Riksbank embarked on beginning in 2010. For anyone who is sane, it's evidence that, i) unconventional monetary policy is bumping up against the law of diminishing returns , and ii) when everyone is easing, no one gets the benefits.
But while NIRP may not be doing much for inflation, it sure has been effective at creating a rather scary looking housing bubble. Have a look:
We discussed this at length in "Sweden Goes Full Krugman, Gets Massive Housing Bubble." Here's what the Riskbank had to say about this after its September meeting:
"Low interest rates contribute to the trends of rising house prices and increasing indebtedness in the Swedish household sector continuing. Current debt levels already pose a substantial risk to the Swedish economy. It is thus essential that the Riksdag (the Swedish parliament), the Government and other authorities implement measures to reduce this risk. If no measures are taken, this, in combination with the low level of interest rates, will further increase the risks, which may ultimately be very costly for the economy."
So ultimately, Stefan Ingves was pulling the old "blame lawmakers" card in an effort to exculpate Riksbank policy. Commenting further on macroprudential policy, Inves said the following: “We deal with inflation, we keep an eye on the exchange rate, we do our best to reach our inflation target. But that means that somebody else has to deal with the problem we have in our housing market."
On Wednesday, the Riksbank is out with its latest Financial Stability Report and the focus is sqaurely on the housing bubble.
"Valuations on both the asset markets and the housing market in particular are unusually high at present [and] this means that the probability of a fall in prices is elevated," the bank says, adding that "together with increasing indebtedness in the household sector, this has made households, the financial institutions and the financial system as a whole more vulnerable."
To be sure, the Riksbank would control macroprudential policy making if it could, but efforts to move in that direction have been stymied in the past and so, Ingves and co. are free to put the burden off on the FSA rather than just admit that krona strength and the CPI be damned, it's time to normalize policy. Here's more from the report:
It is of the greatest importance that the mandate for macroprudential policy of Finansinspektionen (the Swedish financial supervisory authority) be clarified as soon as possible so that efficient macroprudential policy can be conducted in Sweden.
Reforms on the housing market aimed at finding a better balance between supply and demand of housing may slow down the rise in housing prices and thereby also indebtedness. Reforms are also needed to reduce households' willingness to take on debt, such as gradual reductions to tax relief and loan-limiting measures such as an amortisation requirement and a debt-to-income limit. The Riksbank thus considers that there is an urgent need for a combination of measures to both subdue new lending and reduce the risks inherent in existing loans.
Just to drive the point home, have a look at the following two charts from the report which show the rise in housing prices versus disposable income growth and the inexorable increase in household debt:
As Reuters notes, "Swedish household debt levels, at around 170 percent of disposable income, are among the highest in Europe."
Here's a look at the supply/demand imbalance along with average debt for households with mortgages:
As you can see, this is a big, big problem, and it's not confined to Sweden. Norway and Denmark are facing the same reality. The problem, as we've documented on any number of occasions (see here and here for instance), is that in a world dominated by beggar-thy-neighbor monetary policy, one rate cut necessitates another in a race to the bottom as everyone scrambles to, i) keep their currency from soaring and ii) keep the inflationary impulse alive. In other words, the most effective way for Sweden to combat the housing bubble is obviously to stop inflating it by pushing rates further into NIRP-dom.
But that's impossible when Mario Draghi is set to break out the bazooka next week unless the Riksbank wants to just throw in the towel on the global currency wars. Indeed, Nomura believes that the Riksbank "will likely to be proactive after expected ECB decision to cut deposit rate further [and there's a] high possibility of 10-15bps Riksbank rate cut."
So as worried about the bubble as Stefan Ingves may be, he's apparently not worried about it enough to arrest the central bank's descent into the Keynesian Twilight Zone.
Ultimately, the Riksbank believes that the combination of "unusually high housing prices" and overly indebted households means that in the event of an economic shock "the consequences for the Swedish economy could be great."
Now if only the bank would heed its own warning and normalize policy instead of merrily following the ECB, the SNB, and the Nationalbank as they're lured into the woods by Pied Piper Krugman.
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Let's add an army of muslims to this mix.
It's for the impoverished Muslim Mulattoes.
Give the Swedes our muslim - we are so fucking done with him anyway.
Hand over Corzine, Mozillo, Blankfein, Dimon, Blythe, and any other trailer trash you can think of that rode the USA into the toilet.
If Sweden is gonna do the same thing, they need the professionals in charge to do it right.
No such luck. One black Swedish PM (Fredrik Reinfeldt) was enough to last the country till the heat death of the universe.
America's bigotry at its finest.
Sweden .... rape capital of the Western World
http://www.allenbwest.com/2015/10/mainstream-media-wont-tell-you-why-sweden-is-now-rape-capital-of-the-west/
So their libidinous nature is not solely directed at camels? Who would have thunk it! Surely a sizably funded study is needed to understand the dynamics involved.
Swedish women should try to be more patient and culturally sensitive for the good of all but personally, I shall keep my sidearm.
Miffed
Swedish women are emigrating in increasing numbers, over 23000 last year.
Immigration and emigration are of all times and of all places. Also, these numbers are being heavily exaggerated by far-right and populist groups, who use quote mining and the selective treatment of data.
Sure, there's nothing wrong in Sweden. That's why the extreme-right is leading the polls.
eH m1ffed you shoulD buh a bitcoin from teH we
https://localbitcoins.com
Miffed is a microbiologist, not a crypto idiot.
Buy some gold and silver, Coinhead, so you can live up to your name.
Or, go play in traffic, and chase parked cars.
Fonestar/goat humper has been hounding me since I told him to shove his virtual vomit up his ass ( not that it would hurt much being simply a concept).
I stand by my metals. Gold, silver, platinum and lead. I wish I could exit the dollar at some point though that seems very unlikely being a wage slave but I have found bartering among friends profitable in many ways.
Hat tip to a fellow believer and someday when I make it to our Washington farm may our relationship not be solely virtual.
Miffed;-)
Coinhead is a pale shadow of the glory that was Fonestar - that man could actually make you want to buy Bitcoin. And, he had command of the English language.
Unfortunately, he hung himself by accident with his own block chain, a dry cleaning bag, and a miniature goat as part of the tableau found by investigators.
Death was ruled as suicide over crypto volatility wiping him out financially.
This Coinhead fellow is a rama lama ding dong dipstick ghetto diapered cheeto stained basement dweller who crawls out of his hole long enough to type " Bye teh Precious " every now and then. A pale shadow of the legend we called Fonestar.
Miffed - you are welcome to contact me any time, fellow traveller.
Ha ha! Had me rolling at the imagery! That one is as inconsequential as a bit of shitstained TP swirling out to its inevitable end at the sewage plant. Lemmings cannot be detoured from their demise and, sadly, I've given up trying to help them. It simply isn't worth being run over by the stampede.
It was enlightening,being married to computer software architect and talking to his friends and colleagues, finding out all give thumbs down to crypto currencies. Placing ones wealth in such seems reminiscent of tulips and beany babies crazes ( I must confess I did buy a pet rock, I was young).
Buddha said it is better to walk alone than have a fool for company. I am happy and honored to find a walking companion who is anything but. That is a precious thing ( besides gold) today. ;-)
Miffed
Raping and pillaging is in the Viking blood?
The feminists, communists and other trash ze Nazi's fought have taken over and are destroying all who fought against international banksters aka zionism and international jewry.
We all get what we deserve.
Anyone who supports jews gets what they get.
Sweden is fucked up. Pretty soon it will be a "no-go" country.
Welcome to Sweden!
Much of it already is.
Sadly, but at least in our lifetimes we got to see the first Country to commit cultural suicide. A lesson for the ages.
It will be a wonderful thing to witness a new, more vibrant Scandinavia emerge gradually from underneath this cynicism, and give far-right nutjobs a lesson for the ages.
A Guardian reader, are you? Never go full retard.
Stopped at 5:15 after he started crying about the eskimos moving out of a town because of "hate".
Until people recognize that the eskimos are the problem they invite their own self destruction.
I read that as "Sweden evaporate" not "Sweden repo rate".
I also like the typo "Riskbank".
I read "Sweden reaps rape".
lol me too im sure the guy who wrote that did it on purpose
RISING DISPOSABLE INCOME??? IM POSSIBLE
lets just btfd. i mean really, has anything really changed.
No
There will be more debt.
There will be even more next year, the year after that and on to infinity.
Apparently wage increases / tax collections no longer have to rise as fast as debt levels do so......................
if you want a see a housing bubble why not grab a 40 year mortgage in London...a whole generation will be wiped out when Camerons bubble pops all because that idiot Mark Carney wouldn't raise interest rates
The country can't even introduce cursory measures to stop the bubble, it's a matter of time before it bursts.
Krugman will eat your children when he gets his stubby little claws on them. When Freddy Kruger has nightmares it's Paul Krugman chasing him.
Krugman shoul be paraded up and down the street and get pelted with copies of his idiotic books (hard cover version natch!)
Sweden is about to throw out cash payment.
There´s some money to be spended before that.
Your word "spended" needs to be suspended or ended. There, it's mended. Splendid.
(I didn't write that, a friend did.)
OK. Much money to be spent.
So should we short the Swedish homebuilders ? I'm going long on rape kits as per the newly arrived "refugees".
You'll be the one getting raped on that trade.
What happens when the rape rate goes exponential?
They stop testing.
Problem solved. Except for you.
I've said this so many times:
The average mortgage term in Sweden is 200 years. 200 years is the average because on the far end of the scale, they have infinity mortgages, where they only pay interest, and never pay down the loan.
is this the swedish house price average ore the swedish rape rate average?
Unfortunately they are the same nowadays.
I saw the vid of the Swedish PM - a water head sort of chap - claptraping about how Sweden should become a "humanatarian superpwoer" i.e. chase out or otherwise suppress the native population and replace it with the Moslem rape apes. Might have something to do with the collapse of their economy.
Sweden, Denmark, Norway, .. used to be such nice countries. Too nice. Now they see what the world is really like.
Nasty
Doubled in seven years. In other words a 10% return, compounded annually. Apparently housing isn't part of their CPI...
One may reasonably ask WHY Sweden, which several decades ago was relatively one of the best overall quality of life countries, has so rapidly deteriorated? WHY has Sweden more and more often become the poster child example of what is going wrong with Western Civilization in general?
Of course, I do not have any complete answer, but nevertheless, I will repeat some of my kind of rambling rants that I have previously posted regarding this strange topic:
http://www.zerohedge.com/news/2015-11-18/worlds-first-cashless-society-here-totalitarians-dream-come-true
The World's First Cashless Society Is Here - A Totalitarian's Dream Come True
Sweden is leading the way toward its own cultural and genetic destruction, in ways which appear to be mysteriously interconnected (like spooky action at a distance), since the ruling classes in Sweden appear to be the most extreme forms of professional hypocrites, inside of a globalized civilization almost totally controlled by professional hypocrites.
I REPEAT a couple of links that relate to how and WHY it would be Sweden, of all places, that would be leading the way to the banksters' wet dreams of QE to infinity and beyond, along with trends towards more and more of a cashless society, etc.:
http://www.youtube.com/watch?t=832&v=w7IaCcAJQwY
A New Stockholm To Be Built Within 6 Years
Half hour documentary on how Sweden
is committing collective cultural suicide.
http://www.breitbart.com/london/2015/10/06/europes-rape-epidemic-western-women-will-be-sacrificed-at-the-alter-of-mass-migration/
Europe’s Rape Epidemic
"Sweden has become Europe’s rape capital."
Metaphorically, it makes sense that the government of Sweden is leading the way towards governments raping their people generally, which is what a "cashless" (BUT still debt slavery) society would further enable, without profound paradigms shifts in the ways that society in general perceives and operates its political science, in order that radical truths regarding politics could overcome the degree to which it currently is the case that the best available professional hypocrites are almost totally able to control civilization.
Spooky Action At A Distance regarding any "cashless society," inside the overall context of the MAD Money As Debt systems tends to not be seriously enough considered, due to not thinking through the deeper reasons for how and why civilization ended up necessarily operating according to the principles and methods of organized crime, in turn resulting in the most successful politicians in some of the most successful societies becoming the best professional hypocrites, whose excessive successfulness is the paradoxical source of their own self-destruction.
I have always been, and I still am, in favour of global government, and totally electronic money, that will no longer allow any anonymous money. In my view, money is necessarily measurement backed by murder. What we should do is develop better murder systems to back up better money systems. Within that context, I am in favour of the operational definition of higher consciousness as a greater use of information. HOWEVER, the double whammy paradoxes that we currently face are that our combined money/murder systems developed to become based upon the maximum possible frauds and deceits. But nevertheless, there still must necessarily be some combined money/murder systems.
Of course, the various sorts of reactionary revolutionaries who are the controlled opposition groups apparently "against" the bankster controlled governmental agenda tend to not engage in any deeper analysis regarding how and why MONEY IS NECESSARILY MEASUREMENT BACKED BY MURDER, but rather, like to promote the impossible ideals that that should not be the case.
Those who like tend to promote their kind of transcendental poetry, using magical words, such as "freedom" or "liberty," tend to never bother to reconcile those concepts with the principle of the conservation of energy. Although I believe that is theoretically possible, doing so takes series of intellectual scientific revolutions. Governments are necessarily the biggest forms of organized crime, controlled by the best organized gangs of criminals. The less that people understand that, the more they can be fooled by the best available professional hypocrites to agree to do stupid, self-destructive things, as appears more and more to especially be the case in Sweden, as the overall pendulum of Western Civilization seems to be collectively pushed to be swinging.
As the article above correctly pointed out:
It is quite strange, unless one considers the overall degree to which we are living inside of Wonderland Matrix Bizarro Worlds, controlled by the best available professional hypocrites, promoting impossible ideals, that actually make the opposite happen in the real world, to watch what used to be some of the best countries committing cultural suicide! However, in my view, those few who notice that then tend to still not more fully understand WHY, through engaging in any deeper analysis.
Most of the various forms of reactionary revolutionaries, or controlled opposition groups, that express their opinions on Zero Hedge, tend to be like the article immediately above, which does not approve of the currently biggest and best organized gangs of criminals, i.e., the bankster controlled governments, having more abilities to exercise the power of information against the people who are ruled over, by those who rule over them, while those governments drive the fundamental vicious spirals of POLITICAL FUNDING ENFORCING FRAUDS, by making more and more "money" out of nothing as debts, while also adopting every other kind of intensifying divide and conquer, and/or brainwash to believe in bullshit, ways to get enough people to agree to be financially raped, while their society is destroyed.
Indeed, controlled opposition groups love their impossible ideals. Therefore, they never provide or promote better measurements backed up by better murder systems, but rather, tend to promote no measurements, backed by no murder systems. Such impossible ideals always backfire badly, and cause the opposite to happen in the real world, since after all, those groups are controlled opposition, that stay within the frame of reference originally promoted by the biggest bullies' bullshit, which has become the banksters' bullshit.
Although Sweden appears to be controlled by some of the relatively worst and most extreme manifestations of the banksters' political puppets, the denunciation of that social situation is merely another sterile dead-end, unless it leads towards developing better combined money/murder systems, as better organized crime, which is the only way to actually have any better government, which is what I am in favour of ...
P.S.
Regarding spooky action at a distance which maybe ties correlation & causation together through unitary mechanisms:
http://www.nature.com/news/the-quantum-source-of-space-time-1.18797
The quantum source of space-time
The relevance of those kinds of intellectual scientific revolutions is that the REAL world has become globalized electronic monkey money frauds, backed by the threat of force form apes with atomic bombs. Those, in turn, depended upon the prodigious progress in physical sciences, such as quantum mechanics and the special theory of relativity, which radically transformed the concepts of time and space, (and so too, entropy) which were previously based upon the common sense experiences of extremely large numbers manifesting through the chemical energy systems of paper frauds, backed by gunpowder weapons.
Electronic money has become automated electronic frauds, backed by the threat of force from atomic bombs. However, articles like the one above do not come remotely close to facing those facts, but rather tend to continue to indulge in various old-fashioned ideas ... MEANWHILE, I repeat, as a sort of "full disclosure," I am in favour of global government, operating through monetary systems which are not anonymous, because I am in favour of developing better combined money/murder systems, that enable making a greater use of information, which is my operational definition of higher consciousness ...
I am favour of more people, including those in Sweden, more fully understanding how and WHY MONEY IS MEASUREMENT BACKED BY MURDER, so that they are not so easily fooled and tricked by the political puppets which are the best professional hypocrites, which are actually carrying through the international banksters' overall agenda, despite that being runaway enforcement of frauds, automatically becoming more and more psychotically psychopathic social successfulness based upon the ability to back up lies with violence, which never stops those lies from still being false.
Dont' forget Rape Apes (Moslem Arabs and Niggers), Judeao Marxist politicians, a bourgeoisie infected with PC who think voting for "soft left" will set the ship steady again - like the poor, dumb White's that vote Republican.
Marijuana,
The ideal construct for humanity is lots of little pyramids. Each pyramid has low level feedback nodes and local economy. This is our evolutionary history. Humans belong in small groups, or small nations. Each sovereign nation is something like an extended family, with its language, culture, and borders intact.
Your comment here is at variance with local economy:
I have always been, and I still am, in favour of global government, and totally electronic money, that will no longer allow any anonymous money.
Proper economics requires proper money. Each local economy can have its own legal money, where this money relates to local goods and services. To trade between these local pyramids would be something like a Keynes bancor. This bancor is not money, but instead an accounting gimmick to mark trade. The amount of trade and volume of bancors then flux in relation to said goods and services. All trade between economies is only barter. Allowing general purchasing power (money) to trade for another economies money, is also a bad idea.
Think of it like this: Your blood system does not intermingle with the brain/spinal system. There needs to be barriers between channels of flow.
An international money will lead to one world government, and at top of this massive pyramid will be a psychopath. This is a virtual guranteed outcome, as psychopaths are drawn to power.
The main funding source for illuminism is "bank credit as money." THE key operational feature of bank credit as money, is that credit needs to swim home to its debt instrument. Credit spreading banks need to be linked via reserve channels in order to balance their books. Debt spreading money masters are compelled to link up their systems in order to maintain their con game and rental income (usury) on the sheeple.
www.sovereignmoney.eu
International money is a very bad idea. Even the dollar, which is supposedly American money, has escaped via reserve channels, and become "international." Look a the damage reserve dollars have done to the original precepts of America.
All systems predicate an outcome, and the "credit money system" ruling the West with a hidden hand, predicates criminality.
MEFOBILLS,
my notions
are what I dream about, as the best case scenario, in which technologically advanced civilization has survived, by developing its philosophy of science, in conjunction with its political science, enough to have been able to change and adapt to developing technologies that become many orders of magnitude more powerful and capable than those which ever existed before in known human history or evolution.
Those notions are what I wish for, as the best possible political science fiction future. Therefore, those are also what I promote, and have promoted for several decades. HOWEVER, more and more I no longer expect that to happen. Rather, more and more I tend to expect that technological civilization will miserably fail to develop its philosophy of science, including its political science, enough to survive the intense paradoxes that civilization actually was driven to develop to operate through the maximum possible deceits and frauds, and therefore, civilization has become runaway criminal insanities, which will result in committing collective suicide, in one way or another, sooner or later.
My wishes and day dreams are for human beings to survive developing science and technologies which are many orders of magnitude more powerful and capable. HOWEVER, there are no good grounds to expect that to happen, given the degree to which civilization is now being controlled by the best professional hypocrites, because the majority of people have been brainwashed to want to believe in that kind of bullshit.
Since is NOT possible to put the scientific and technologies genies back in their bottles, we are STUCK with the existence of things like electronics and atomic energy, which are currently being applied through the established social systems based upon enforcing frauds.
I somewhat sympathize with assertions that:
HOWEVER, our evolutionary history has included exponential progress in physical science, and therefore, we are going to be forced, one way or another, sooner or later, to change to adapt to having already done that, and therefore, have already got globalized electronic frauds, backed by the threat of force from atomic bombs, as well as an abundance of other advancing science and technologies, everywhere one looks, EXCEPT NOT IN POLITICAL SCIENCE, because that would necessarily take developing better human murder systems, after the development of weapons of mass destruction, which is particularly imperative because the threat of those weapons are now what actually backs up the money systems, because the debt controls were always backed by the death controls.
Your notions regarding what "money" should be I regard as half-way correct. Money is a matter of law, but the only connection between human laws and natural laws is the ability to back up lies with violence. That is WHY we are so seriously threatened by our own excessive success in physical science. However, I REPEAT, at the same time, there is no way to make that knowledge disappear, other than through the almost total destruction of civilization, and/or the extinction of the human species as the consequence to FAILING to develop better political science, which can integrate and surpass the prodigious progress made in physical science.
I somewhat think you are correct, by definition, when predicting:
However, I continue to maintain that there are NO ways to not have some death control systems, as the central controls to everything else. Those are already what has been driven by natural selection pressures to become the currently existing artificial selection systems, which became based upon the social successfulness of deceits and frauds, and hence, why civilization is now almost totally dominated by various professional hypocrites.
Given those social facts, the most reasonable expectations are that such a technologically based civilization will destroy itself. Those are currently the most probable dystopian science fiction nightmares and horror stories which are actually manifesting more and more ... especially due to the basic ways that everything has been built on the basis of making "money" out of nothing as debts, to "pay" for strip-mining the planet's natural resources.
But nevertheless, given the ALREADY EXISTING science and technology, what I am proposing is what I like to think of as the hardest possible political science fiction, whereby the human artificial selection systems continue to learn from the natural selection systems, in ways whereby we go through some series future scientific and technological miracles, which are surpassed by even greater political miracles.
IF an advancing technological civilization survives, then there is going to be a global government. That will mean globalized death control systems, with global murder systems as their most extreme forms. I do NOT believe it would be possible to ever stop that, other than by such a globalizing technological civilization continuing to be so criminally insane that it commits collective suicide.
At the present time, I feel that the chances of systems of globalized electronic frauds, backed by atomic bombs, committing collective suicide is more than 99%, while the chances of human civilization going through enough technological and political miracles to survive appears to be less than 1%.
After all, at the present time, the degree to which the combined money/murder systems are runaway forms of MADNESS is overwhelming to the ratios of more than 1 to 100, human sanity to human insanities, since indeed, there was nothing in previous human history or evolution that has prepared us for developing technologies like globalized electronic communications, along with weapons of mass destruction, etc. ...
MEDOBILLS, after I examined http://www.sovereignmoney.eu/ quite a few months ago, when I first noticed you posting that link, I tended to think that your ideals are mostly nostalgic nonsense, given that what already exists is globalized electronic frauds backed by atomic bombs!
It was on 5/23/15 that I first read the Web site you linked, as I then discussed in my own Web site, running Forum thread: Some Monetary System articles. (Which has a companion Web page: Excellent Videos on Money Systems.)
All of my previous political experiments, which are continuing through these Canadian Electoral District Associations, demonstrated over and over again that more than 99% of Canadian taxpayers always act like incompetent political idiots. Indeed, the recent Canadian Federal Elections yet again demonstrated that the best professional hypocrites won those elections.
Your Web site features one of my favourite quotes:
"Once a nation parts with the control of its currency and credit, it matters not who makes the nation's laws. ... Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile."
-- Mackenzie King, Canadian Prime Minister 1935-1948.
HOWEVER, the father of the current Prime Minister of Canada, when he was Prime Minister, agreed with the so-called Washington Consensus back in 1974, and NONE of the political parties now represented in the Canadian Parliament will even acknowledge the existence of the issues summarized here: http://www.comer.org/
For all practical political purposes, the vicious spirals of POLITICAL FUNDING ENFORCING FRAUDS in Canada are more than 99% dominate, while in the USA I would suggest that is even worse!
As far as I can tell, it was pretty well a waste of my time to have bothered to learn about how the world really works, because the current conclusions have become that civilization is based upon excessively successful applications of the methods of organized crime, which have become runaway criminal insanities. After facing those facts, that there already exist globalized electronic frauds, backed by atomic bombs, which are enabling the strip-mining of the planet's natural resources, I find that almost everyone who publishes content on Zero Hedge ends up still promoting impossible ideals, which are merely more of the same sort of hypocrisy.
As I say, what I try to do is better political science fiction, however, more and more I am forced to think that the terrible genre of that, which I dislike the most, namely the dystopian horror story futures, are by far the most probable, while anything better has the essential problem that it can not exist without better death control systems at the center of that sort of successful adaptation to progress in physical science enabling technologies, which have done what they actually do for good reasons, namely that there must be some death control systems, and those which were most socially successful were those which were most deceitful and treacherous, which is how and why we ended up with a political economy based upon governments enforcing frauds by privately controlled banks, inside of social pyramid systems which are dominated by professional hypocrites, which was possible because the vast majority of people behaved like incompetent political idiots or Zombie Sheeple,which, in turn, enables the vicious spirals that the best professional hypocrites have the most successful political careers.
As I say, I would like to see a greater use of information, enabling higher consciousness. However, there is no way for that to actually work unless it includes the central features, which are the death control systems. There should be profound paradigm shifts in the ways that we perceive the death control systems, which then enable those systems to be operated in radically different ways. That is theoretically made imperative by the development of weapons of mass destruction. However, what has actually happened, so far, is that the exist of atomic bombs operates through the MAD Mutual Assured Destruction systems, to continue to back up the MAD Money As Debt systems.
The international banksters continue to be the biggest gangsters, who are able to control governments. They were also able to effective control most of the public "opposition," to the degree that there is no genuine opposition. Almost all of the content on Zero Hedge tragically illustrates that, since almost nothing proposes and promotes better death controls to back up better debt controls, but rather, usually promotes various old-fashioned impossible ideals, that can NEVER WORK.
As long as the vast majority of people continue to act like Zombie Sheeple, then the actual death control systems will be operated by the most psychotic psychopaths, whose social successfulness enables them to be the best available professional hypocrites, who are able to continue to fool enough people, who want to believe in that kind of bullshit.
You are correct about the fear that "at top of this massive pyramid will be a psychopath." However, such a fear does not admit and address the issues regarding how to operate any better death control systems ??? I continue to be in favour of global government, which I regard as necessarily based upon better organized crime, which operates better death control systems. I wish and daydream that could be based upon a greater use of information, enabling higher consciousness. However, at the present time, there is almost nothing but a core of organized crime (bankster controlled governments), surrounded by various controlled opposition groups (pretty well every publicly significant religion and ideology.)
Your Web site, MEDOFILLS, proposes "monetary reform." In my view, that is a sterile dead-end, for a variety of related reasons. I am in favour of monetary revolution, which should be guided by intellectual scientific revolutions which apply to political science in general, and to the combined money/murder systems in particular.
I do NOT think it is possible to stop the runaway fascist plutocracy juggernaut. Rather, it might only be possible to push it past where it otherwise would have stopped. The social pyramid systems are actually toroidal vortex systems. However, they mostly get away with deliberately ignoring and denying that. Most of my kind of political science fiction is based on perceiving what already exists in ways which are backwards to the ways that most people perceive those now.
For instance, another classic example of relatively good, albeit superficial research, ending is superficial "solutions" which are bogus was this recent article republished on Zero Hedge: Why We’re Sliding Towards World War
As I write this, that appears as the first article on the leading banner above on Zero Hedge. After lots of good analysis, it ends with another typically superficial statement of what the "solutions" should be:
That was yet another good example of the standard patterns present on Zero Hedge, as well as pretty well everywhere else, which are some relatively good analysis of the problems, followed by bogus "solutions," because the original analysis continued to be too superficial.
THE ONLY WAY TO "STOP WIDER WAR" WOULD BE TO IMPLEMENT BETTER DEATH CONTROL SYSTEMS. However, at the present time, that looks like it extremely improbable, since there is practically nothing which is publicly significant other than professional hypocrites promoting impossible ideals.
In my opinion, MEDOFILLS, that includes your proposals regarding "monetary reforms." My only alternatives are based upon the notions that the coming phases of death insanities might drive the development of different death control systems. If so, then the best we can hope for is that a technologically based civilization manages to change enough to adapt to survive its own paradoxical powers, turning into behaviors that have become runaway criminal insanities.
At the present time, it is NOT at all clear how better death control systems are possible, given that human history has selected for the actually existing systems to be done most successfully through the maximum possible deceits and treacheries, and hence, the most psychotic psychopaths (as discussed above, the bankers and the defense contractors, & the governments that are desperate for war) are actually controlling what civilization is doing, while they are not opposed by any real opposition presenting better death control systems, but rather, they control their opposition, so that ONLY the same old-fashioned impossible ideals, promoted by professional hypocrites, have any significant public presence.
While Zero Hedge is far superior to the more mainstream mass media, in my opinion there is nothing presented which is sufficiently realistic regarding the real problems, that fully face the facts regarding how and why governments are the biggest forms of organized crime, controlled by the best organized criminals, because the death controls are central to everything else, and must necessarily be.
That is the context inside of which I have always been, and I still am, in favour of global government, and totally electronic money, that will no longer allow any anonymous money.
However, I do NOT believe we will make it there. Rather, I believe that the banksters will destroy themselves, along with everyone else, because I believe that the most probable futures are for a criminally insane civilization to commit collective suicide, which is especially probable given the degree to which there are almost nothing but bogus "solutions" based on impossible ideals, that are promoted by controlled opposition groups, due to those sort of professional hypocrisies continuing to be the most socially successful strategies, DESPITE THE LONGER TERM CONSEQUENCES FROM DOING THAT GETTING WORSE AND WORSE!!!
No impact on inflation? Maybe not on the price of cheap crap from China. Houses for people to live in that can't easily be imported from China, not so much.
Even so the Riksbank won't tighten till the ECB does (i.e. never). Interest rates at levels that made it worthwhile to lend one's own money to drive the Swedish crown sky high and give Swedish industry an excuse to outsource what remained of Sweden's private-sector jobs to warmer and cheaper parts of Europe.
Ingves is justifiably afraid the Swedes laid off as a result and with no hope of getting their jobs back would start voting Sweden Democrat.
I love it when they say exactly the same thing every time. Its a supply demand thing we need to release more land/build more houses. Of course these globe wide housing bubbles have nothing to do with access debt at artificially extremely low interest rates.
read an article today the swedes have had enough of the muslim refugees, their tired of paying monthly entitlements, and free housing ,there's been phyical confrontations in some cities, and their not even close to meeting their un quota.
swedish women should have no problem getting american visas, the ones the bankers don't hire as maids, the rest can make $7,000.00 a month elsewhere.
These cherry-picked graphs don't tell much. If savings are high, then overall leverage to savings could be well within norms.
According to eurostat, Sweden's savings rate is the highest in Europe and has been for years. Another crappy panic article, thanks ZH.
What do you smoke and where can I get it?