What's Gone Wrong with Sweden's Economy?
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- Опубликовано: 19 май 2024
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Sweden's NATO accession is dominating international headlines, but domestically the country is facing major economic and social problems. So in this video, we'll break down the issues they face and whether Kristersson's government can turn it around.
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1 - www.bloomberg.com/news/articl...
2 - www.visualcapitalist.com/worl...
3 - tradingeconomics.com/sweden/g...
4 - www.government.se/press-relea...
5 - www.bloomberg.com/news/articl...
6 - www.riksbank.se/en-gb/statist...
7 - www.bloomberg.com/news/articl...
8 - www.statista.com/statistics/5...
9 - www.ceicdata.com/en/indicator...
10 - setterwalls.se/en/article/the...
11 - www.gisreportsonline.com/r/sw...
12 - www.ft.com/content/b7651979-1...
13 - www.theguardian.com/world/202...
14 - pro.morningconsult.com/tracke...
15 - www.politico.eu/europe-poll-o...
00:00 Introduction
01:42 Context
02:55 Sweden’s Economy
05:22 Sweden’s Social Issues
06:55 What Happens Next?
07:48 Brilliant
Swedens economy relies too much on Minecraft. No end update, bad economy!
And paradox interactive, don't forget eu4 or hoi4
@@trrr938All those DLCs are probably a way to appease the govt’s economic agenda, lol.
Isn’t Minecraft owned by Microsoft?
@@tylerclayton6081 are you saying sweden is a puppet state of US?
@@tylerclayton6081 Bro it's joke.
(But those DLCs are very much government's economic agenda)
7 years ago me and my mates studied the Swedish economic situation. We concluded that because a large part of the population is planning on being in debt for 30+ years, just a mere 1+% increase of the interest rate would cause the economy to decline. This also made Sweden particularly vulnerable to inflation, as the way inflation will be dealt is by increasing interest rate. So basically, any drastic changes to the global economy would (and did) hit Sweden extra hard.
debt is a great maginifier of a good economic situation, but it also intensifies economic shocks indeed.
@@ayoCC Nah. I have been avoiding debt as if it is a plague and I have never regreted this. I ain't gonna trust the banks to not increase the amount of money I have to return if I am to burrow money. Better safe than sorry.
@@Hardcore_Remixer you should try shariah bank. they offer loan without usury/interest.
It is not a 1 % increase in interests that causes the economy to decline. As mentioned at #3:50, it is combination of higher interests and short-term mortgages. My mortgage is a fixed rate 30-year loan, so no matter what the interest rate is it will not affect my economic situation.
@@rizkyadiyanto7922 It's true that they _technically_ don't charge interest, but that doesn't mean you actually pay less for your loan than with a Western bank. Islamic banks aren't charities.
In Germany we have the same problem. Germany and Sweden are both exporting nations, and the high interest rates and the decline of China are poison for both of our economies.
We also have the same problem with our education system. We need to invest heavily in it.
you also have same problem with crime becouse of mass imigration
@@MB-xq3pqActually the criminal rate was pretty stable between 2000 and 2015 and is sinking since 2016 by araound 2%. Look it up, if you don't believe me.
The answer is - INNOVATE!!!
If Germany think of something that ppl REALLY WANT - they'll buy it!!! Like your BMW's, Mercedese's and Audis - everybody wanted them!!!
@@arnewengertsmann9111This is certainly not the case in Sweden and we can draw a clear connection to immigration. As I doubt Germany is better than we are at integrating these people and making them a productive part of your societies, the only explanation I have to the stats showing a decrease is that your government is still actively trying to hide it like ours did not too long ago.
the educational system in sweden used to be super centralized up until the 90's. People were complaining how the state controlled system was really inefficient, which it to be fair was. The current system gives schools funding based on the number of enrolled students, meaning schools have to compete for students free market style, using good grades and teachers to imporove thier reputation. Combine this with private schools being allowed to make a profit and you got a system where private ventures can bribe students with inflated grades and offer good teachers better salaries than communal schools, resulting in them getting funding and pocketing taxpayer money. Theres been talks since forever that it should change, yet no action.
Now imagine a system where there is only private school who decide the curriculum by which corporation funds them and who can charge the students whatever tuition they like and pay the teachers whatever they want.
This already happens in many countries.
Yes they need to reward schools not by how many students they can get but by some other metric related educational quality. One way would be to reward them based off of student performances, but critics would argue it would put undue stress on the students etc who do take national exams but which aren't related to their grades.
Heyyy that sounds like the university I study at hahaha
I work for a private school (Engelska Skolan). We don't make more than public school teachers - our union statistics actually show that we are severely underpaid. They lure us in with a promise of a good salary, and many get tricked because they don't realise just how expensive life in Sweden is. Even those aware they're underpaid often stay because on balance, their quality of life is still higher than in their home country. Once you are in the private sector it's very hard to switch, even once you get certified in Sweden, because public schools largely ignore applicants from foreign backgrounds. The teachers who quit are also easily replaced by more workforce from abroad.
@@zeytelaloidepends how the performance is measured. The problem is schools in poorer districts, let's say Rinkeby or Husby, work with students who don't even speak Swedish, are years behind in all the skills, sometimes they even have borderline illiterate parents. They're never gonna have the same results as the children of wealthy families in inner Stockholm. This system would only be fair if the schools were evaluated by added value.
Really sloppy video. They mention that Sweden losing out on the "Brain business jobs" but first show a graph (without specifying year??) that compares countries, and follows it by one that compares regions (also without specifying year). The graphs have absolutely no bearing on the point being made.
The Swedish economy has been pumped with no interest rate for years, making it too cheap to get loans, both as a household and company. This of course backfired when Riksbanken were forced to shockraise the interest rate to try to curb the inflation. While it did help with the inflation it's still too high. The cost of living is still climbing too much, rising food prices, rising fee for rental apartments and so on. Then we also suffer from greedflation, where companies raise the prices higher than they really need, and blaming that it's justified because of the inflation.
Shockraise interest rate? Ahh, young whipsnapper... The current rates are nothing compared to when Riksbanken raised its interest rates to 500 % back in 1992.
This exact scenario seems to be playing out in most countries in the world right now. It’s not unique to Sweden.
@@JanBruunAndersen yes let's hope it won't come to that...
@@artman12 We all should've been in a recession by now in Europe. My country the Netherlands has to cut back spending too this year. We actually did very well here the last years. During COVID we actually had growth. We sell a lot of agricultural goods in the Netherlands, so we had benefit of the food prices going up.
We have one of the biggest rises of housing prices in Europe though. 8% to 10% rise expected this year again. It's extremely bad here because we are one of the most dense populated countries of Europe. We got 17 million people. Sweden, Norway and Finland together have 20 million people in comparison.
The 1 kg cheese blocks went up like 200% overnight in my country, meats and bread too. Blame those Russians and some price gauging.
Do rich people have fixed rate mortgages and poorer people floating mortgages in Sweden?
The ones taking the hardest hit are the self employed. If you have an income it's manageable, but it aint fun.
Another reason for our shit economics is Germany. When the piplines busted, Germany became dependent on Swedish energy, causing a massive price hike that chocked many house owners, with bills some months surpassing 1000 Euros for a household. Caught many off guard and many people had to bust their savings to keep up with interest hikes and the electrical bills that were surging in Southern Sweden.
Germany's problem is that they have said no to nuclear power in favor of an energiewende that is proving to be a complete failure.
yeah, the price for electricity has also skyrocketed in sweden, because of stupid monopoly system that only benefits the electric companys.
The system failure in as you said "free schools" arent referencing the regular schools, they're referencing the private schools. We call private schools friskolor.
Privatskolor och friskolor är inte samma sak, en privat skola drivs av ett företag i syfte att gå med vinst medan friskolor drivs av stiftelser och är aldrig vinstdrivande.
@@duddisnoobyay3859 Finns vinstdrivande friskolor. En privatskola får in sina pengar från eleverna eller deras föräldrar, medans friskolor får skolpeng från staten. De flesta privatskolor är vinstdrivande och de flesta friskolor, men inte alla. Skillnaden är var de får in sina pengar, om det är från privatpersoner eller staten.
@@duddisnoobyay3859Friskolor kan visst gå med vinst. Verkligare skillnaden ligger i att friskolor finansieras inte av elevavgifter vilket privatskolor gör.
@@JoppeW Idédrivna skolor startade sitt eget förbund medan friskolor har ett annat. Det blev ingen revolution för de idédrivna skolorna. Friskolornas riksförbund talar som om de representerade båda.
This is all about interest rates. We have high private debt and almost all floating interest rates.
It will have the opposite effect when the interest rates go the other way. Then people will create videos saying the Swedish economy is extremely strong.
Very true. The ECB will dicrease its director rates in June and i guess the Bank of Sweden will shortly follow.
Just wait for it :)
Yeah. Extremely annoying with so many floating rates but our banks seemed to give terrible rates for longer fixed rates where Denmark at the same times were giving stupid low and fantastic rates for like 15 years at a time.
@@FightingMango - 15, 20, or even 30 years fixed mortgages. One reason the rates can be kept low is that 1) The loan is capped at 80 % of the assessed value of the house, 2) There is an payment default insurance surcharge added to loan, 3) In case of a default on the loan, the bank has first dips on money from the sale of the house.
Combined, this makes it a very low-risk loan for the the people/banks that finance the loan, and thus lower interests.
Sweden has also lots of tax avoidance and no inheritance tax, right? It's basically killing the middle class and helping debt rise. You don't even have free education and healthcare too.
In Milan we lowered the problem of alcoholism by banning metal can sales at and after a certain hour, the hour when most people bought alcohol. So, the city council did not have to say "we will ban alcohol", which would have caused a riot, nobody noticed they indirectly made it more difficult to practice alcoholism and no riot happened.
That is pretty smart
Poi la gente impara e comincia a comprare l'alcol prima.
thank you, we have good doctors here@@carstengrooten3686
Wow, no idea how alcoholism works on psychological and biochemical but reducing the access.
Talk about treating the symptom and not the cause...
not my fault the eu is printing too much money, which causes inflation, which causes alcoholism@@sciencefliestothemoon2305
To say that the Moderate probably will be voted out in the next election is a bit of a stretch. Judging by the polls it's about 50-50, if Sweden will get a left or right-wing government next.
If we get a right-wing government it will almost certainly include the moderates and most likely be led by them. A less likely scenario for a right-wing government is one led by the Swedish democrats with the moderates taking some of the most powerful ministries.
Which one will protect human artists and talent from being replaced by A.I? Because I heard Sweden is one of the few countries willing to do that. Someone told me that on Quora when I asked if there are any countries out there that are willing to protect human artists and creatives from being replaced by A.I.
It would be practically impossible for this government to continue another 4 years with the current opinion results unless they invite the swedish democrats. They cannot create a government when 20% vote for swedish democrats and 50% vote for the leftist parties.
@@cubismo85 To be honest the Sweden Democrats are de facto members of the government right now. They don't hold any cabinet positions but much of the government's priorities are set in consultation with the Sweden Democrats. So far they seem satisfied with this arrangement.
M and SAP have grown more similar. SAP governments rarely roll back changes made by M governments. They both see eachother as the competing leading government parties at the moment. Liberal-conservative M has replaced social-liberal Folkpartiet in this role historically. An MSAP government would be the final confirmation that these two co-run the country.
@@lx4 It creates an odd balance where the one with the least ministerial seats has a great amount of power. Social liberal L and christian democrat Kd have more ministerial seats but their critics say they have become simple administrators.
As a student here, the job market is not hiring and the wages are not increasing, meanwhile most prices have almost gone up to soon enough double.
A cheeseburger used to be 9kr, now it is 19kr
Det har väl ändå gått en hel del år sedan man kunde köpa en Cheeseburgare för 10kr?
@@tr0fast280Dryga 5 år sedan en cheesburgare kostade 8kr. Brukade köpa ett par stycken efter en krogrunda så att man hade till dagen efter.
@@SvikthusetFyfan att värma dagen efter 🤮
@@tr0fast280Tror det faktiskt enbart gått lite över ett år sedan en cheeseburgare kostade 10 spänn
What? Where? There's no place in Sweden that sold cheeseburgers for 8 kr each five years ago. Not in Stockholm, not in Malmö, not even in Jokkmokk. Even 20 years ago I had to dish out at least 25 kr for a tunnbrödsrulle (med räkor) at the nearest kiosk after a night out. And that's just mostly mashed potatoes made from powder...
Funny how the GDP follows ABBA's chart performance
Except ABBA had a brief resurgence recently thanks to ABBA Voyage in London :|
@@Ivytheherbert are they still paying swedish taxes?
Sad though, Sweden has very good musicians other than ABBA.
Funny how people still think they are clever with Abba/Ikea/Meatball jokes.
@@JH-lo9ut Abba/Ikea/Meatball yahhhhhh
yo thanks for showing that gdp graphic 15 times
hahaha thought the same thing
Too much private debt. Especially mortgage. Cartels dominate all sectors of the economy: energy production, transport, retail, banking and more. These oligopolies conspire to extract as much wealth as possible from the public. Administrations and public sectors are mired in an impenetrable jungle of red tape and cannot take decisive action about anything.
Sounds like Canada.
wouldnt say oligopolies exist there in sweden even when there is few companies the state has a hand in it such as power is vattenfall transport is SJ banking is SBAB as for red tape well it isnt that much unless your talking about construction then there is a ton
@@cia5649 I run a ventilation/heating business in Sweden. For example chimeny sweeping is completely mandated by local governments. Which ever (large) company that has the most lucrative pitch to local government politicians gets the contract for ALL of those jobs. Also the mandatory control of in-house climate of residential buildings is a politicised license. The beurocrats have complete control of all sectors. Of course it's important to have licenses and checks in order to uphold quality, but our system is nothing but a big "pick-and-choose" of winners that the political local governments and agencies run. Almost never is it anyone from the relevant industry which does the decision making.
@@gimlifan12 well the problem is that the local or regional goverments pick the chepeast option 99 percent of the time onlt for cost to suddenly increase when the contractor admits he needs more. Also if the cheapest isnt picked its bec the company probablt offered a comfy job once the politician retired
@@Desmaad Sounds like he described everywhere.
I notice that you say "Europe" and then immediately display stats for the EU. Hence UK, Norway, Switzerland are excluded from the stats. I haven't heard they had been cut off from the continent .. maybe floating out to the mid-atlantic?
I love how we can all watch the same video and come to different conclusions.
I think the main culprit for the decline of the Swedish welfare state is the lack of investment in public services. After the global financial crisis of 2008, the idea of cutting public debt became popular and many European countries took this route. Sometimes, you definitely need to public debt and you have to keep it manageable based on your economy.
However, when you underinvest for years in public services for years, you public services will definitely lag behind and that’s what is happening to Sweden.
Once the Swedes get inflation under control, they need to invest in the welfare state and fix the private debt situation. Private citizens appear to be too vulnerable to interest rate hikes and this needs to be kept under control to prevent sticky inflationary periods.
Several workforce sectors, such as healthcare, are based on consultants, making it more expensive. The fault is that government-run hospitals traditionally used low wages for their workforce. No wonder they flee to the private sector (and move abroad like move to Norway) or become consultants; thus, now, the state has to pay higher salaries to cover the profit for the consultant companies. What a stupid strategy, and not a recipe for a healthy economy.
And you expect the good doctor who saves your life be paid the same as a plumber?
A Jewish anaesthetist once told me why he became a doctor.
His father said as a doctor, in times of crises, people will always be able to barter a chicken for his knowledge.
Try that as a lawyer.
I am Swedish living in Stockholm and it is completely true. Everyone working in healthcare must be paid more, or alternatively shut down public healthcare so that the market takes over. Personally, I favor the first option, but this mix we have isn't really working optimally
@@RUHappyATM Many plumbers make a lot of money!
@@Theorimlig
like 1%, mostly those who employ other plumbers...LOL.
Neoliberalism
Thank you for this amazing video! Living in Sweden, this is a topic that's been circling in my friend groups for a while now. It's great to now have a video with data to point towards as much of the speculation has been around Covid and why things are seemingly just getting worse.
what's gone wrong with * economy
*insert country
I was thinking the same. Seems a lot of countries have problems with the economy.
global economy = global problems@@keithmartin1328
Quality editing on this one, very satisfying smooth and rhythmic transitions!
Privatisation of public services have almost always proven to be disastrous. And this is not something people couldn't have guessed beforehand... when you add a profit motive to an essential service that is run as a monopoly. You not only get a less and or worse at a higher price, but the Corporation running this service has a strong incentive to blackmail the government into bailouts.
Privatisations may provide a short term benefit and look great in the books, but it is just that... it looks good on a few quarterly sheets, with hell to pay a little while later.
not to mention that they work for profit, not to help people
Also a lot of times it is sold quite cheap to a friend of a politician. "In Sweden we don't have corruption" our politicians proudly tell the rest of the world and the people they serve, because of course, corruption is only when some guy comes with a briefcase full of money, selling public services for waaaaay less than it is worth to a buddy who will give you a high paying job after your political career is over is just simply a normal deal.
@@eken1725 :Even without corruption, those sell-offs are often done during times of low cash, so you have duress... which automatically leads to a price lower than the market would offer.
@@eken1725 I don't like how every time this happens, there is some choir of free marketeers and libertarians praising this as the ideologically pure method.
I don't like how it was possible to leave municipal government, form a landlord company, buy the houses used at your old job and rent them back to the successors at your old municipal job. All the while being praised as a free market genius.
@@bikkiikun Then you need to pay rent on the hospice you used to own, and in a couple year the rent eats up what you made on the sale. But at least the former politician turned landlord who rents it makes a profit. And the municipality can't often build a second hospice or find a competitor.
The quote about “system failure” specifically relates to the charter school system not the overall education system. Only 12% of students go to charter schools (per Wikipedia), public schools are still by far the most common.
A big problem is that public schools have to keep a readynes for when the private schools failes. That is a big cost.
@@user-gd1od5cs1vYes, and similar to chartered private healthcare, they can just move their problem children over to a nearby public school, which legally has to accept this. This becomes a big resource resource drain for the public schools.
There are essentially two types of private charter schools in Sweden. One type that just does everything as cheap as possible, not caring about any problems. The other is the "elite" school, which fixes its problems by offloading them onto public schools.
It is worth noting that the world economy is a complex system influenced by numerous factors beyond a single country's monetary policy, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
There is always a market recovery. But then Investing through an advisor who understands the market, however, is simpler and yields higher returns. I started working with my CFP with less than $100,000, and as of right now, I'm just $17,000 short of half a million dollar portfollo.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.
this is inspiring! could you be kind enough with details of your advisor please? highly suspect i'm much too small game lately to handle investing myself, figured out its best to consult a license professional at this point
I like how the Eurozone is handling the inflation the best out of all EU currency zones. Almost as if having second most widely used currency in the world as your own offers a certain degree of protection and stability.
that's how it is
At the cost of fiscal autonomy and economic growth.
It was not that long ago when this was proven false. Ask Greece.
@@torbjornlekberg7756 Greece rigged its budgets to join the EU. it is a very different issue from inflation.
@@thomasmerlin4990 However, the negative effects on the Euro, caused by the economic malpractice of many South European nations, Greece most of all, showed how vulnerable such a wide currency can be.
4:23 that's not what disposable income is in economics.
You should know it merely means "income after taxes", not "income left over for fun stuff". Housing prices rising does not impact disposable incime in any way. There is a separate term called "discretionary income" that covers it. This can cause confusion with the more everyday understanding of disposable income, but just thought you should know since this is a lot more analytical topic than everyday conversation.
if you privatise essential public service the public will suffer, the privatized entity only goal is profit.
💯
Yep. Health care, Schools, City planning, Police, Military should all be ruled by the state. The rest can be a free market.
Switzerland have good privet helfcare
@@bellafahleson We also have examples of good private healthcare. The problem is that there are very few regulations in Sweden. It's much to easy to focus only on profit witch has lead to tax money going to international venture capital companys moving the profits funded by Swedish taxes being moved to other countrys. That money was ment to be used for healthcare not suporting rich shareholders abroad.
_some_ privatization can be fine. And the way schools work (the "profit" is given from the state, per student that is enrolled and graduating) is one such thing - the issue is rather a lack of oversight, regulation and enforcement. Like, maybe make it required that the private school has no profit over 5-year periods? Or at least that none is paid out to shareholders/owners/bosses? At least limit it greatly (maybe have the amount allowed be derived from the oversight's findings on quality of education?).
There is also a problem in plenty of swedish schools, that is way too generous grades in privatized schools. Teachers are ''forced'' to give school kids undeserved grades to improve it's repuatation. That is because with higher grades parents gets into the idea of placing thier kids in them. Even teachers who gives them deserved grades are forced to change them otherwise lower wages or fired, said by the principal. Before the 90's, Swedish school we're controlled by the state.
It seems to me that Belgium and France are a bit similar in terms of the type of economy, is this ultimately the most robust type of economy we can have in Europe? Maybe an economist can undeceive me in the comments...
6:55 - "What happens next?"
The answer is usually 'fascism' these days
Which party is that in Sweden then?
Yep, the sweden democrats (previously swedens fascist party) are gaining in the polls every day, sad times we live in.
UK's been answering the question with that answer for a over decade now.
With even a brief look at history, their grades for that answer are nothing to be surprised of.
@@EmpiricalSin - maybe none for now. Give it a few months and we'll see liberals pushing further and further to the right
@@EmpiricalSin the Sweden democrats haven't been shy about their idea to change the constitution so they can strip anyone of citizenship, ban funding for the opposition and also be able to jail any person without any suspicion of crime.
please note that interest rates indirectly affect disposable [or after tax] income; they influence personal income and only then after tax income.
Nothing a million migrants can't fix
lol
2 millions to get sure
"If in doubt, add millions of impoverished new citizens who aren't overly keen on integrating".
Yep; that'll work! 👍
bro didn't watch the video 😂 classical right-wing mindset
If 1 million migrants are good why are 1 billion double plus good. There are after all 1.5 billion people in Africa why not invite them all in.
The right blames criminality on unregulated immigration "and" lax law enforcement (here the political left reluctantly agrees). This situation has been rectified to some extent with strictter laws and harsher sentences, prisons are currently overflowing.
To complicate matters further: Immigration hasn't typically been a partisan issue. In fact it was the moderate-led Reinfeldt government who rolled out the carpet during the syrian refugee crises and claimed all immigrants were welcome. The only party consistently critical of immigration has been the Sweden Democrats, which is why they are now increasing in popularity.
Education is also a complicated issue. The social democrats are partly to blame, since they transferred the task of education management to individual municipalities and partly dismantled the old central oversight agency (Skolöverstyrelsen). If you read the memoirs of then education minister (later finance and premier minister) Göran Persson, he claims this was partly done to undermine the status of the then well respected (and in Persson's view, possibly bourgoisie) teachets. This last part succeeded beyond all expectations.
The succeeding right wing government dismantled what little central coordination remained, and instituted a wide-reaching free-marked reform, where private schools were subsididized with public money tied to each accepted student. Though the initial point was to help driven teachers start their own schools bsed on their own pedagogical theories, the system was quickly co-opted by big business, making cuts to make profits from siphoned taxpayer money.
Here too successive governments have tried to rectify the situation, by increasing teathcer pay (and therefore hopefully status). The current government looks set to increse the authority of schools/headmasters over the board, which in my opinion (having worked as an abulating substitute teacher for two years in dozens if not hundreds of schools) is probably long overdue.
What a surprise! We told you so. Yall got exactly what you voted for.
Lol I think I actually voted Sweden Democrat in 2012
@@madamehussein What changed?
@@arthurschildgen5522 I continued voting for men until I coud a tiny libertarian party (0.2 percent of the vote) which berre represented dmdy views. And I probably misspoke, the parliamentary electino before the refugee crisis would have been 2014 and not 2012.
Opening your education up to big business. That's not a good move.
They let too many engineers in the country! :D
Doctors*
Cultural enrichers
Are the engineers at least peaceful 😅
@@ItsthebigmacThat term is exclusively used by racists so I guess thanks for self-identifying...
The current laws say that engineering students can't work in the country, that is immoral.
This was unusually biased and uninformed for TLDR. The school system is not in tatters. Swedens students preform well above average in PISA studies compared to OECD averages. In the most recent PISA report, the Swedish ministry "skolverket" states that compared to the result 10 years ago, most of the falling result is caused by the increased number of students of immigrant background, who naturally have a lower score due to language and other socialeconomic issues. But as a group immigrants still preformed better than 10 years ago, shrinking the average distance to Swedish background students higher result. Does this sound like a system in tatters to you?
Your link between housing market and bankrupcies isn't clear either. Sure they are both happening but you have no proof they are causally related as you claim.
You also incorrectly directly link the weaker public services to the social issues. You have no proof of they are correlated and it's not something a majority of Swedes would agree with. The crime, as an example, has been proven i research to have little correlation to poverty or a decline of the wealthfare state. Rather background and cultural factors have been proven to be the main drivers behind the crime wave.
On the political front you seem to miss that the Sweden Democrats are supporting the government and the government is implementing it's policies, holding press conferences together among other things. They are a part of it in all ways but minister posts. And no, they won't be able to be a governing party as they have no other option than "the Moderates" as a coalition partner. It's not the biggest party who runs the country in Sweden, it's the biggest coalition (which today includes Sweden democrats)
To sum it up, Swedens development is K shaped, and looking at averages is intellectually dishonest and misleading. Most of Sweden is doing well, but a big part of the population is lagging behind, mostly immigrants who struggle to overcome the high demands and performance thresholds swedish society is built around. But even if you look at how immigrants are doing, they are doing way better than 10 years ago, but the group is bigger as a percentage and as a result is drawing down the average. Which is to be expected.
You can do better TLDR.
"... immigrants who struggle to overcome the high demands and performance thresholds Swedish society is built around." Am I right in saying that open debate on these issues has for a long time been stifled in Sweden?
This happens to Every country, you hshe a bad period and then you get out on top. Sweden still has a GDP of 600 billion and in 2026 it Will have 730 billion.
Is any country doing good right now? It feels like nobody is okay right now.
Switzerland as always ig, finland and Norway
USA 🇺🇸 is doing very good. But the MAGA crowd wants us to believe otherwise
@@Pinkhairedkilla I wouldn't include Finland in this list. 😅
The US is entirely OK basically and there's others too.
Most others are not OK to various degrees.
Going off of real wage growth, Belgium is doing great
Do we have an economic crise? I must have missed that…. But hey, what do I know, i am just a swede.
I was wondering the same!
same, a crisis might be a bit of an overstatement, if you increase the interest rates to twice what it is now, then yeah, but ofc global economics affect us too. It's not a crisis... its just temporarily tougher.
I know, right? I go to university in Sweden, am an American, yet I didn't really notice any crisis.
Hmm I live in Stockholm and it is very expensive here. But when I look around people are spending so much money. Everywhere it is full and idk it just doesn’t seem like people are struggling here
They like 10xed interest rates over night in a country that has no clue about a 30 year mortgage like what's common in the US. Swedes mostly have floating rates.
the US (atleast for regular people) gave up on floating rates after 2008 (for the most part) weird that swedes didnt learn the lesson
@@ganyumaindayone1112 the housing crisis of '08 was basically nonexistent in Sweden. Instead in 2008 there was the sovereign debt/Euro crisis in Europe at that time
GFC in Sweden was largely a non-event, not so big losses because of own currency.@@ganyumaindayone1112
@@reshuram4353 That was in 2014
@@ganyumaindayone1112 Because if you get a fixed rate for 30 years in Sweden and then sell your house after 5 years you will have to pay the bank for missing interest for 25 years. Also the floating interest rate has always been lower over time than any fixed rate. So the suggestions has always been to go floating and save the difference for the bad times.
Crazy thing is Swedens unemployment rate is close to 10%. That is banana republic levels imo
if you instead look at employment rate it's 77.5%, which is the 8th highest in the OECD. So, it's a matter of perspective.
@@Keikboi Employment rate is not too significant. The UK for example has a relatively low employment rate. Partly because there is a large part of the population who have a lot of generational wealth, and don’t need to work. Same thing for the US. Whereas Sweden, has almost 10% of the population actively looking for work with limited success.
@@RRaymer And you think there's no people in Sweden with a generational wealth? 😂 Are you ok?
@@Just_another_Euro_dudeOf course there is some. The data comes from Henley & Partners who specialise in this field. Sweden is generally considered as a load bearing economy. There is a small sum of individuals who generate an extreme amount of wealth. In Britain or the US. They are more unequal in the sense where there is a substantial amount of the population who generate large volumes of money and pay little tax. So they become economically inactive.
I agree but UK and US got much bigger and diversified sectors and jobs I'm aware of safety net but it`s still very embarrassing 10%, almost on Greece and Albania level
Increased energy prices have caused this problem, Swedish industry depended on low cost energy, specifically electricity costs to be competitive. Now that low cost nuclear power was shut down by the greens and wind/solar does not work in Sweden companies are shutting down. Consumer electricity prices increased by 500%, because of unreliable wind/solar. Biofuel additive increases transport costs increased by 30%. EU had 16% biofuel, but the social democrats and green party in Sweden increased this to 30%. So, all production of food, products and everything that needs to be transported doubled in price. It became uneconomical in southern Sweden to have any industries, where 2 good nuclear power stations were closed down for ideological reasons by the green party. For example, baking bread factories were closed down. Any expansion of production went overseas. So Sweden has the problem of bad environmental policies causing unintended consequences. Wind is OK for intermittent high cost supply, solar is quite useless in the north. We see this now, but the damage has been done. Look at parallels to Germany where increased energy costs also caused social harm to the poorest people, reduced jobs etc. Now Sweden has reduced biofuel back to the EU 16% and plans to build new low cost, sustainable and reliable nuclear which works during our winters when wind/solar does not. But it will take time to fix the bad policies. Sweden is already at net zero, but solving climate change globally is imperative. Sweden which produces 0.02% of global CO2 cannot solve this, but it has harmed itself for no environmental, social or economic benefit. Be careful of well meaning ideologues. Stick to specialists, engineers and scientists.
I agree with most of what you write. Som problems. You claim that the closing of nuclear plants was for ideological reasond by the social demcrats. Actualy there was a referandum heald in 1980 where it was desided that we should fade out nuclear power plants. Also you want people to listen to specialists, enginears and scientists. Then we shouldn't have reduced the biofuel. There are other ways to keep the fuel prices low. Fuel is one of the most taxed things in Sweden. Reducing the biofule is not the way to go. If one listen to those you want us to that is going to have a big inpact on the inviroment. Just because Sweden is one of the best countrys in the world doesn't justify not doing our part. That is in my opinion equal to stick your head in the sand and pretend that the problem doesn't exist.
i agreed with you until you said about CO2, we need to stop seeing pr country and instead look pr person, if everyone is thinking pr country none will do anything
Most countries and people do nothing about CO2 already. We already have climate change policies where the minority in the west try to reduce CO2 while the majority in Asia, China, India, Africa, South America, Russia do nothing. CO2 emissions have increased globally, while countries like Germany/Sweden have caused energy poverty and social problems for their people with no benefit or reduction in CO2. Look at how few countries sign up for CO2 reductions at the COP summits. Look at Germany CO2 emissions from electricity production compared to France. Germany is about 5 time higher CO2 than France because of bad energiewende policies.closing down nuclear. There are dellusional beliefs that the rest of the world will follow Sweden with high petrol/diesel costs and unreliable wind/solar, this has been debunked and proven to fail. But symbol politics and virtue signaling are more important than meaningful sustainable, reliable and low cost solutions which reduce CO2 like nuclear. Look at France and Canada with successful CO2 reduction with nuclear. Sweden also reduced CO2 with nuclear but the extremist green party in Sweden stopped zero CO2 electricity production and increased electricity generation from high CO2 oil. Go figure. @@RoyalLegend1000
@@valdisfilks9427 like you said most country's do nothing, it's because of thr minuset that, "we do so little, do why should we do anything"
Do you think people inn China will be gladly to do this, when people inn Sweeden domt do a shit
Tho, I agree when it comes about Nuclear power, they are the 2th safer energy source (after water power)
And talking down Nuclear plass has been a huge reason for the energy crisis
Not to mention how stupid ot is to use coal instead of Nuclear power, when coal make more radioactivity
But, when what you say about CO2 showes that you expect everyone else to do something while you can sit there and do nothing
The greens are a very small force in parliament, and has been so. Nothing they do is done without the approval of the others.
M saw it as ideologically impure to fund large-scale infrastructure developments, including extending state credits to power plants. And the SAP usually accepts what M wants to change.
Very accurate good job !
Kristersson does not have "an approvement rating of -20". It is mathematically not possible.
Household addiction to low interest rates is the issue. Industry is doing well and sectors outside of construction aren’t hurting. True to form for Sweden, citizens have to bear the burden for poor policy-in this case fiscal policy. That being said, unlike most of Europe, Sweden didn’t really suffer from the financial crisis of 2008 so things have been going very well for a long time, the economy was overheated and this cool-down might be good in the long run.
Imdustry and other sectors are not doing fine. They are suffering the low value of the swedish crown. The only thing realy prospering in sweden now is the defence industry.
yeah, but that's mostly because Sweden blame immigrants for everything, stopped nuclear power and this unhealthy loons, not to mention the privatising of healthcare and schools@@user-gd1od5cs1v
Well, why do you think that addiction exists? That's just a symptom of a housing bubble that has been growing since the early 90s. Nobody could afford to live in the city without those low interest loans. If only real estate speculators and the ultra rich can afford to live there, who's going to make their coffee/clean their office/etc? Without a middle class, a city dies.
Even engineers have a hard time affording housing within commute distance of their workplace these days.
@@Halesnaxlors Housing prices looked normal when cheap, easy loans were available to pay for them. Not taking a loan to pay was the bad choice. Not when you believe you can both live in your house without the cost of rent and eventually sell your house at a profit later in life.
Even going back to what was "normal" interest for most of the 20th century is more expensive than paying nothing.
Right now I don't like the growing discrepancy in interest. Our company pays 8-10% interest to the bank, the bank pays 2-3% interest back to savings and in the middle the bank pays out a divident.
I think that it is important to mention that the privatization was greatly expanded during the social democratic government in the 90s
Not really. Even tho the privatization continued after Göran Persson created his first cabinet, it all started to really get out of hand first after the right wing "Alliance" took power in 2006 with Fredrik Reinfeldt as prime minister. Since 2006 we have had several state-owned entreprises sold out to the private sector for a lousy cheap price, for instance vin&sprit, apoteket, telia, nuon etc.
@@cubismo85 yes it is true that the allience privitized like crazy but the fact that the social democrats supported the privitization still remains.
True. Greed and the belief in a self regulating liberal market started already then and have been kept alive, despite being the obvious cause of the collapsing economy.
One other factor is that the rents (both public market and social housing) have gone up a lot over the last few years, and there is no end in sight. I rented a 40 m2 apartment for 1.150 euro's between 2016-2020. That same apartment now costs 1.600+ euro's (calculated from SEK). As a single person, you need a very good salary to be able to afford this. Even for couples it's quite expensive. Many of my friends are struggling with the high rents, and as a result they spend less money on going out for dinner, going out for drinks, buying new furniture, etc. And due to inflation, food and other things have also become very expensive. That all together also slows down the economy. Besides that, now that money has become a bigger stress factor and bigger apartments have become priceless, younger people put off having children, especially those living in the big cities. That will also have a big impact on the economy in the future. I hope Sweden manages to get back to growth soon. It's still a fantastic country.
If it's not a secret, in which area the cost of an apartment is so high for 40 square meters. m.?
@@mertviyelf Around Alvik/Traneberg/Ulfsunda. I also see apartments going for 18.000+ in this area. Crazy.
How could high crime/firearm deaths be a result of "privatizing the welfare state?" I don't see how the two coincide, I don't guess. "The state stopped paying for metro cards & that causes people to go out and start shooting each other?" I'm struggling to understand.
TLDR really wants to blame the Right for everything.
People don't have money to buy their metro card and decide to jump the gate or steal a car.
People have to spend a lot of money on health and decide to rob a store for food.
One thing about the other side of the criticsm is blaming crime on emigrants. People say the same in Portugal, but the majority of the crimes are done by Portuguese people. It's still possible that it's cause by emigrants though, emigrantes come into the nation, take jobs at lower rates, which causes the job market to decrease (increasing national unemployment rate) and starting a generalised decrease in salaries, which leads to people not having enough money for food and start stealing.
Both points are difficult to prove.
Reason and logic is not required for being a socialist/communist.
@@Cicero_de_fato such a sad, negative and information-lacking comment
TLDR always refuse to portray immigration in any kind of negative way, no matter the situation or story they will never say it how it is when it comes to immigrants in Europe.
My jaw dropped when I saw that government spending was 70% of GDP in the 90s. There's no way to have a country function properly with such an ourageous amount of spending. Even now at 48%, that's still HUGE.
Yes….,
The important lesson here: Don't do free markets or open borders.
I don't even know why we have fleeting interest rates on real estate mortages it just seem to destabilize the economy and benefit the banks
So many missunderstandings in this video. First off the government has a majority in the parlament backing it since it has the support of the Swedish democrats. That makes it a majority Government by Swedish standards. Secondly the Swedish economy is by design the way it is, its not a bug its a feature this slowdown was expected long ago and when the recovery comes Sweden will grow quicker then the the rest of the EU. This is what the economic cycle looks like in Sweden. Sweden outperforms most other countries when inflation is low but suffers when its high. Same is true of the Swedish stockmarket which is very sensitive and fluctuates more then most but over time performs very well.
The schools are a mess but its not the reason for the lowering of avrerage high skill workers the massive immigration of lowskill people are. The Swedes are not getting less educated but more uneducated people are entering the workforce.
The rightwing coalition is doing well in the pols and will likely win the next election, the social democrats are the ones who are struggeling since they don't have any policies or a unified coalition. The next government will likely have the Swedishdemocrats in it as they are very popular and the policises of this goverment that are most popular are from the Swedish democrats. You kinda have to know the local kontext if you are going to make videos like this.
Couldn´t agree more, your analyze is spot on to what TLDR isn´t. We have just got a better government who will do real progress with all of Swedens problems with crime, economy, education and so on. But it will take more then just two years to fix decades of broken system and the sky high inflation isn´t helping more than hopefully lower the rising housing prices.
I believe education is still worse off today because of so many trouble makers in school. Yet, it doesn’t matter in a range of subjects because jobs are outsourced to those Eastern European countries and India anyways, specifically IT jobs. Oh, if your employer can hire foreign workers at half the price, they won’t hire citizens? Who would have thunk it?!? So, don’t bother studying.
@@TheBooban Schools have to deal with a lot of low educated migrant children and parents.
Here in the Netherlands we have an increase in child poverty. Everyone screams bloody murder. When you look at the data you see reduction in child poverty with native Dutch children and increase in child poverty when it comes to migrant children, particularly asylum migrants, because there's simply more of them coming in while the normal fertility rate has plummeted.
Maybe the incumbent can use the economic downturn as a legit excuse to cut off social welfare, so the unwanted people can migrate elsewhere, then we don’t even have to talk about the “immigration issue”?
Good description! And not to forget that alle the Nordic Countrys has also helped with a lot refugees from Ukraine! Sweden has also a big export industry so the future are bright there! Looks better than in Germany where the leader of SPD Scholz more act like a slow turtle!
Is there anywhere at the moment that isn’t doing bad economically?
Mexico.
Poland expects a GDP growth of close to 3% this year, and wages have gone up quite a bit.
From my point of view most counties are suffering from the same problem, only difference some are suffering more than others.
I´m from Portugal we suffer from low wages (minimum is 820euros month),housing crisis,high cost of living, destruction of public sectors, business don´t invest in tech besides perhaps the tourism sector that only creates bad paying jobs ect,
Guyana, Macao, Libya, Mozambique to name a few. Most national economies around the world are growing
@@jontalbot1 The further you are from the Europe-Middle east shit show, the better you are it seems.
Some independent studies that was made (due to the that SCB isn't that reliable) in 2022-23, that mortgages relative to Sweden's GDP was at 91.1%.
Should have mentioned the weak currency. Of all the current problems I think this is what explains the current state of the economy best.
the privatization of what should be social services never works in the long run for a country
It sure works for the businesses though. They are sold at low cost (for politcal reasons) and if they fail they are saved (for political reasons, we do need schools an dhealthcare etc).
@@PMMagronot everything has to be a business. that's the problem of brainrotted capitalists. they see everything as a business. they are incapable of seeing any other kind of value that is not monetary. sad. extremely sad
"HUMANITARIAN SUPERPOWER. DIVERSITY IS OUR STRENGTH. IF ONLY WE WERE ALL LIKE SWEDEN." 😂👌
Swedes got a crazy big ego 😂 Sweden is a shit country trust me I am swedish
This is by design and the Swedish economy has seen similar dips several times. They missed this by only looking at comparisons between countries and not looking at the economical framework for the country and the financial structure and politics.
I'm worried about the household debt. It defines who takes the fall.
I don't think voters anticipated fully what the private risk part of liberalization meant.
Thank you.
Could this be due to demografic changes that took place in past 2 decades ?
Maybe you should watch the video
Not really. People taking to much loans to buy housing etc is not an immigartyion issue.
Soem towns might ahve been very affected by it though (making that town/part of towns economy get imbalanced due to big immigration).
Couldn't be. The elephant in the room surely has nothing to do with why the floor is collapsing.
A small part perhaps, but that's mostly impacted/magnified by other changes and failure to account for them.
One side can't keep cutting in to the society to help their rich friends, and the other side can't ignore that it has made the society weak.
The bank charges our company 8-10% interest for a loan, and gives 2-3% interest on savings. And I know the bank is not secretly ran by the dude begging outside the store.
"whatever the cause" when 90% of the people in jail is of arabian or african descent.
Leaving office, buying a municipality hospice, renting it back to the municipality you worked where your old collegues still work is the accepted level of corruption.
6:03 hey that's the street I grew up on!
can't believe how fucked up how things have become. we were one of the most peaceful countries in the world to the complete opposite. like what the fuck man
Why does every government think privatization is a good thing
The same as the UK. The more they've moved away from a social democratic economy to a more right wing neo-liberal economy the worse everything becomes.
Oh absolutely, I'd imagine we'll look like todays Brittain is a decade or two at this current trajectory.
😂 the social democrats is the ones that burning all money and when the money is gone the right take over and try to solv the F mess but they cant. Then the social take over and blame the right its a classic. Sossarna just give away money without getting something back do 6ou realy think thats good?😂
Get the fucking Moderates out of parliament please.
Weird, I was told importing millions of migrants from undeveloped countries would make our economy boom.
Det blir en vinst lite längre fram 😂
Our economical problem is mainly debt private debt from buying housing. Not really connected to immigration.
But it is kind of teh same mindset. if I can handle debt why not borrow 5 million. If we can handle immigartion why not double up. At soem point it risks tipping over ...
Muslims
@@PMMagro Debt can be solved eventually. Immigration and its effects are not just permanent, but will grow with each generation. Putting at the same level an economic temporary circumstance with the destruction of our societies is just perverse.
@@adrianrodgon3485 Immigration can be solved simply put an cap on the total number of immigrants coming in or allow those will certain skillsets to come.
Hello from Sweden, how you doing Mr Brilliant.
There´s a crisis ????? OMG we´re doooomed, I best lock my doors/bolt the windows and shut the blinds.
Thnx 4 the warning , geeez that came close.
I was wondering why Mark Rutte was appearing in a video about Swedish government.
Silly me 😆
tf you mean what ever the cause, literally just mentioned people have less money. Also so good right, personally government debt has crushed me and my family. Don't mind the gangsters outside who turned to crime because of poor education and money.
The financial structure of the gangs looks very top-heavy. The dudes on the street work for chump money as some clique sits in Spain managing the main routes.
I cant find anything about Swedens "welfare privatization" or what "brain business sector" means. How do i find more about those topics?
The welfare privatization involved making contracts with private companies, basically paying them to run the operation so that the state/provincial/local government didn't have to. This lead to schools and caretaking facilities where operational costs were kept at a minimum so that the owners could pocket as much money as possible. Great for the business people, not great for everybody else.
No idea what he meant by 'brain business sector'. It does not seem to be a generally used term.
@@vohkaru131 I see. Thanks!
my guess would be that it refers to higher education work, similarly to how "brain drain" refers to highly skilled employees of one country leaving for another country@@vohkaru131
Brain bussines sector ought to be jobs involving everything not involving manual labour. For exampel the gaming industri, research produkt development etc.
@@vohkaru131 You could leave your old job as a municipal politician, buy the municipal hospice building as a private landlord, rent it back to your old collegues still in the muncipality or your replacements and get praised as a prime example of market liberalism in the finance press.
Sweden is NOT Ikea, Avici, Nokia, Lutheranism, & H&M. Multifaceted market economy with something for everyone. Being of Swedish heritage myself, I consider these things
But I thought they had one million new doctors and engineers? Can't understand why their economy's not doing brilliantly!
Does that mean us who aren't doctors and engineers are useless? I would like to see what all those engineers and finance people do when they're forced to clean their own toilets at work and wipe their own elderly.
@@SusCalvin try to understand that I was using hyperbole to try to make a point
Immigration has been a problem that has resulted in these rise of gang related crimes in Sweden. We are seeing similar incidents in the UK, Ireland, France, Belgian, Germany and Netherlands too,but not in Poland. We are also seeing the cost of living is affecting all of Europe with sky prices in food, utilities and fuel, this is not just confined to the UK and the affects of Brexit as some europhiles would want you to believe. COVID and the war in Ukraine have played an important part in all this unfolding in recent years, we are seeing a change in Europe and else where in the world from left wing liberal governments to right wing governments. People want change, politicians all over need to start listening to the majority and not to the media circus and minority groups at present.
Immigration isn't the problem. Failed integration is.
@@MrDintub Giving visas to immigrants who refuse to integrate is the failure of immigration first.
Yet in Spain integration has worked very well. Evidently it is a problem of Sweden which is unable to transform these people into contributors to society
@@gennarodivincenzo3560 sweden has accepted more immigrants than it has capacity to integrate into society.
I still feel like Immigration is not talked about enough because the people who usually do have a bias against immigrants, but the simple fact of the matter is that the Swedish Immigration Experiment did not work. Whether that be due to failed assimilation practices by the government, whether too lax of a social welfare system, whether just a clash of cultures. These things all matter even if we don't want them to. You can't add 15% more people to your functioning society, give them all welfare and housing while not allowing them to work and expect things to go well.
But how does that lead to Sweden's economic situation? I see tons of people talking about "muh immigrants" in this comment section without actually explaining how they relate to or cause Sweden's economic issues
@@edanarator7716 Well the whole idea of immigration was first to refill the aging working population of Sweden through immigration. The government then completely opened it's borders to anybody to come in, not just those seeking professional migration. Couple that with immigrants not being granted working rights and a very high paying welfare system, you have a massive group in your society who are made a burden on the society through no fault of their own. That creates assimilation issues, combined with lack of opportunities for life improvement, you get radicalization and a hike of crime and gang activity.
How was it lax social welfare system if sweeden cut it heavily in last 30 years... dafuq?
@@edanarator7716 Because Sweden was rich because it was a country composed of Swedes. Bringing in Somalians will only make the country more like Somalia.
The idea of immigrants geting loads of money is wrong. The grant is 71 Swedish crowns per day and has been the same since 1994. This is suposed to be for food, clothes, medical treatments and so on. I shure would have a hard time making a living with that kind of money. Also every study made concludes that the imigration in Sweden have a positiv effect on the Swedish economy.
That's actually not the most interesting part about the Swedish mortgage model. The most interesting part is that you only pay 50% of the house and then you stop paying. That's it. You only pay interest from then on.
The idea is to make mortgage payments smaller and thereby free capital into spending and other investments.
The jury is still out on whether it's a good idea or not... It could just add household debt.
If you'll get inheritance, it will be half of the value of the property. The bank owns the other half.
In most systems, I thought the bank did not want to sit on assets. They seize and then sell assets as people default.
More graphs with animation transitions please. Longer transition so you can't see the graph.
Gee, I wonder who's doing all that crime in Sweden.
White swedes
Just swedes...😂 ... only blue Eyed peoples with white skin, if you say something else you get cancelled..😂
The police announced that they made the revolutionary discovery that task forces might work. But criticism of the police is still taboo.
As an immigrant in this beautiful country, I promise you that the problem is on immigrants.
Sure, bot. Like, seriously this is getting ridiculous. We know paid bots are used to influence the west. Shame on you. We are not that stupid.
Migrants don't control fertility rates or the economy
You run the banks, housing market and currency as immigrants?
@@PMMagro Believe me or not, but some have. Even as politicians, police and teachers. 50% of Swedens prisoners have immigrant background which is huge when we think that they only make 10% of the population, aka a minority. They also the ones making the gang violence. Of course there's some things that aren't due to immigration, however that's the biggest problem which needs to get solved first.
About the crime....and criminal minds we have good signals over in Greece too from Sweden. Interesting current government reacting faster than before. Leasons need to be learned and if you stock, you just need to go back in time to check out whats happenned in particular time. Thank you for your interesting narrative and upgrade about the subject you mentioned.
Discussing the police is still taboo, because it would come dangerously close to responsibility for decade after decade of police reforms. The police can ask for more funds, more powers and more manpower, solve less crime and ask for the same the next mandate.
I live in Sweden ...a lot was said in the the clip but I was left scratching my head... Am I the only one that diid't quite get it?..
You should have included the currency value, since 2008 it has decrease about 50
% against the dollar. Since most of the goods are imported the inflation increase. Same situation as in Norway
No, not really. When I last visited the states in 2005 the dollar costed about 8 krona. Today it cost about 10 krona, so it has lost about 25% of its value in 19 years.
@@chuckwood3426 10 of June 2008 one dollar had a value of 5.92krona, today it is 10.33 krona. That is a difference of 42.69%
Sweden's national bank is called Riksbanken, not Riksbank 😁
Riksbank means 'national bank'. Riksbanken means _'the_ national bank'.
How do you make it plural? In Dutch and German we use -en for that but I assume that "the banks" does not translate into bankenen
@@carstengrooten3686bank = bank, banken = the bank, banker = banks, bankerna = the banks
@@carstengrooten3686er, Riksbank-er.
Use the suffix -er, -or, -ar for general plural and for specific plural, like for example "the banks" we use -orna, -erna and -arna. Someone tell me if I missed anything (not a linguist).
@carstengrooten3686
@@carstengrooten3686the banks - bankerna
Well. There's always been bold people.
Awesome. Brilliant content. Spot on. Well said.
raising interest rates is like sending a nuke to resolve an issue.
How is there not a more pinpoint way to affect inflation in certain areas.
Like especially housing costs need to stay stable, it's one of the most basic needs.
because economics is not an exact science , there are big dilemma .
there are many alternatives that could possible still crash the economy .
India at one point decided to ban rs 2000 banknotes , the system crashed .
Our govt approach is by giving more money to the inflation (does not hurt in the short but will in the long ). Country's currency has devaluated some 80% since 2002 because of this. (The interest rate differential makes that your currency devaluates against a country with higher interest rates because all money leaves ur country for the foreign country ).
You may look at fiscal policies (reducing income) but it is going to destroy your GDP.
You can go supply side (increase bureaucracy to make business more difficult to set up) not only supply economics is not guaranteed , it takes a lot of time.
Therefore your best bet is monetary policies
It's actually very simple. Simply cut down on government spending and only print money that is represented by real resources.
@@YeeLeeHaw the resources part is not correct a free and fair country is better off with a currency they can print and destroy at will.
It's an important tool to soft land a crash.
Money supply needs to be increased whenever the economy has not reached it's full potential, meaning it still can produce services even more efficiently, and provide even more demand.
In that case you'll have deflationary pressure, when you want inflation because you want people to not save their money, but instead buy capital goods as soon as possible... Things that make money, like factory machines, or hiring developers.
Turning money into real benefits, real work.
Gold itself also is not the be all end all. It would be worthless if people didn't desire it for luxury or electronics.
But it can't be devalued over time by a government. So rich people can sit on it for generations, while bank notes will lose basically all their worth in 100 years, which encourages purchasing sooner, which will likely go to someone who will again need to buy something. It's harder to soft land a gold crash than a dollar crash
@@ayoCC If you disagree with my point you don't understand economics, no offense.
@@ayoCC It's sad to see that so many have are still brainwashed to this level, thinking it's good that the government overspends their money supply and print more fiat money.
Sweden had 8 million people in 1970, today it has 10.4 million. Meanwhile, the birth rate has remained slightly below replacement during the entire time period, so where are all the new "Swedes" coming from? The answer is of course the Middle East and Africa. And a very large proportion of the new "Swedes" are permanently on welfare, for the plain and simple reason that Sweden has an advanced economy with very few jobs suitable for uneducated people. (In fact, even highly educated immigrants have a hard time getting a job because Sweden is a very closed system socially speaking, and most job positions are given to friends of a friend.)
To the surprise of absolutely no-one outside of the Swedish Social Democrat party, adding two million dependents to the social welfare system has drawn Sweden's economy into the shitter. Then we got gang criminality and "honor" killings and all the other fun stuff to deal with as the cherry on top.
But even so, Sweden is still a very safe and prosperous place to live (as long as you stay out of the no-go-zones, of course).
The new engineers dont produce the same gdp as the old one :(
thats bullshit the majority of the foreign born population in Sweden is from other European countries.
@@ShienChannel*new peaceful doctors
Yeah, isn't Sweden going to protect it's human artists and talent from being replaced by A.I.?
Don't worry I'll turn this around
We've hurt ourselves in many ways, immigration being one. I'm not some anti immigration guy, qualified worker immigration is the biggest net positive any country can have, but the problem we have here is that you are eligible for all social benefits straight away as an immigrant, putting a massive burden on the system before the people have any chance to start contributing.
This is not the immigrants fault, rather the reckless rate at which the Swedish government has accepted immigration.
If we had the exact same numbers, but spread over a longer period systems like education, healthcare and social services would've had an easier time keeping up.
We also have some of the highest household debt in the world, making us very vulnerable to any changes in the global economy.
Many Swedish households have taken on 30+ year loans, and the hiked interest rates hurt them especially bad.
Everyone knows why the country is like this. You dont need to be a rocket scientist to understand what has changed in the recent decades.
Privatisation of state assets?
the prioritisation of the welfare of non swedes over actual swedes@@veloxic
@@veloxic Really?
Sweden's economy has been taxed to death for decades. Honest work is punished. The property tax was heavily capped, pumping up the housing bubble.
Large scale migration has been catastrophic for education, crime, employment, housing and social cohesion.
Some logical problems with your reasoning. First, how does lower property taxes pump upp the house bubble. IMO the thing pumping up house prices has been the extremely low interest rates making it easy for people to pay almost anything for houses. The property taxes only playes a minor part of that problem. Secondly, blaming imigrants for all those problems is just silly. The biggest problem with education is the shift to letting private companys start schools and fund it with taxmoney without regulating profit, teacher qualifications and more. This has lead to schools handpicking students that gives the most profit and cutting down on teachers and facilitys for students all in the name of making profit. This will probably not change in the near future since whe have a minister of schooling that have close ties with the companys running those schools. The crime rate in Sweden has actualy declined over the last decades inspite of what it looks like when you watch the news. Yes there have been an increase with gang problems but that IMO is more a result of downfunding the police and cutting down on social services. Regarding unemployment the biggest problem is not imigrants. In 1994 there was about 11 % unemployed people in sweden and now we have about 8 %. It's simpel to blame immigrants but o so wrong. If the immigrants was such a big problem we would have much higher numbers then we have.
M lowers the tax, and SAP does not roll back tax cuts. I have been given round after round of tax breaks. It's like M tries to drag SAP from 1970 out of the grave and debate them.
Cost of Living are stll lower here then many other countrys even that i pay high mortgage. Money goes longer here is the feeling i have atleast. My friends dont have any economy problems either
Sweden went through a period of intense privatization of public housing and public companies during the two decades after the millennium.
The right-wing coalition under prime minister Fredrik Reinfeldt (2006-2014) employed an agressive neo-liberal financial policy with some pretty wild reforms. This was made to invigorate the Swedish economy, under the catch phrase "freedom of choise". This was a Raegan/Thatcheresque reform fest, going further than either of the two neo-lib deieties, and well after it was clear to most ecpnomists that wealth, in fact did not trickle down all that much.
Those lucky swedes who could capitalize on these reforms ( notably, including mrs. Reinfelt) could make enormous profits. Astronomic sums worth of public housing, state-owned companies, health clinics, and even public schools were sold off at a bargain.
The earnings were re-invested for the benefit of the public... No.
Just kidding. It was spent on tax cuts.
The upper and middle classes did benefit from these policies. Those lucky enough to buy at a bargain, and those who could increase the value of their homes.
Mortgages were cheap, and home-owners were encouraged, through tax refunds, to make renovations and improvements to their properties.
The interest you pay on your mortgage was tax-deductible, and with no mandatory payments and an interest rate close to zero, it was just a faucet of free money for anyone owning property.
If you didn't own a home, if you were unable to work, if you didn't have money to invest, you weren't invited to the party.
Not only that, they ate your food, borrowed your plates and left you with the dishes.
I think M won a mandate to dismantle bit after bit of the older systems, but didn't have anything but utopian idealism to raise afterwards. SAP rarely rolls back initiaties M starts.
Yea 25% of the population is not Swedish and on welfare no correlation whatsoever
technically 100% of the population is on welfare.
It is highly relevant in terms of school grades and unemployment and productivity. Population grows but not human capital. This doesnt mean swedish people are getting poorer or more uneducated or less innovative as statistics suggest at first glance (at least not ethnically swedes), it only means that that low skilled population is growing faster than the productive ones and this puts an extra burden on the welfare system.
@@Kiii33333222productivity is what is killing the west actually
But go on, yap about it...
You avoided talking about one glaring issue though
no numbers on the y axis at 5:38 ??
Aren’t we going to talk about that Estonia economy retracted by 2%
Hahaha no mention of the elephant in the room? Its an imported problem, our country is bleeding
Immigrants did not set up a system where former politicans from M and SAP can buy old municipal buildings and rent them back to their old municipality.
The bank takes 8-10% interest on our company's loans and pays back 2-3% interest on savings, but the dude sitting outside the store begging is the real threat.
It's TLDR. I'm surprised they haven't moved their headquarters to Gaza yet.
Sweden is regressing to the GDP of a Middle Eastern country
I mean. That doesn'tseem that bad.. Qatar and UAE are the 4th and 5th richest countries in the world.
@@Doazon good for Sweden I guess, bring in more Muslims
No, but ethnically is become one.
Neither, because you will not find the data, due to the worng way of measuring.
It's only a part of the problem. We have ministers who have no education or experience in their fields, we have a former prime minister who failed a welding education, the only reason he became prime minister is that he climbed to a high enough position in one of the biggest workers unions. Corruption is overwhelming in our political system and government agencies.
The alternative would be more politicians who's only education and work experience is being politicians. Like the way French and UK elite schools do nothing but produce politicians. It would be the end of hobby politicians who have experience with a day job outside the party.
also homicide rate is more representative statistic than firearm attacks, using the latter may seem like cherry picking to prove a point, just like a debate class.
It is part of teh racsist agenda. As we have many immigrants it MUST be therefore wqe have many shootings. Don't mention overall crime rates are the same (it does not suport the theory).