Friday, August 14, 2009

One voice of stupidity

One of Swedens largest newspaper continues to spit out economic data and indications with misinterpreted statistics, errors and biases, and seem very eager to manipulate whatever conclusions or reports researchers find regarding the economy.

Let me show you two examples of this being at display today.

Firstly the paper (DN) reports that “there is lots of signs of recovery”. In this little article they refere to The Economic Tendency Indicator, which measure business and consumer confidence in the economic situation, and that this has risen just under seven points to 87.1 in July. They do, however, fail to quote the continuation of the report that says: “But despite the substantial rise in the past three months, it still indicates that business and consumer sentiment is considerably weaker than normal. (…)However, employment has fallen considerably and firms forecast continued staff cuts for the current quarter. The proportion of firms reporting financing difficulties rose again somewhat in July.” Mm… interesting.

Then they talk about the Swedish GDP that shows 0% difference between 1Q and the 2Q which means it is still as bad as before and this is “good news”.

In addition one report from Swedbank (the bank that is defaulting, need bail-outs and still have billions in Baltic-losses to cope with). The report claims a growing optimism among certain executives.

And finally they refer to the Swedish finance mentalist Anders Borg and the Prime Mentalist Fredrik Reinfeldt whom both claim to see indicators in the economy for growing stabilization. However, never really saying what they actually mean.

In other words, they conveniently forget to show the negative aspects of the Economic Tendency Indicator, they refer to zero-growth as something positive, they rely on Sweden’s worst bank whose economists should all get keelhauled and they talk about the government (that has no reason to praise the economy… no, not one single reason…) that says some mumbo jumbo about “stabilization”. How about that? I feel comforted, don’t you? Of course this little scheme is a lot worse than just claiming positivism where there is none. Firstly; the Swedish government is showing huge red numbers at the moment, most of which is being borrowed hence keeps GDP up. Secondly the Swedish interest rate is kept very low which means people are still, idiots as they are, borrowing to buy things, mainly housing which is the reason why real-estate and housing prices have gone up most of the year. This is also a plus for GDP, however, the loans, the massive debt, is not counted. Thirdly the Swedish central bank has been putting out money to financial institutes through the printing machine. Although most of that money has been covering up losses or being kept as securities, some of it has trickled down into the economy, again leading to positive impact on GDP. With this in mind the actual wealth being produced has, almost certainly, gone down. If we leave GDP for a moment and stay focused on sentiments about the economy. What do such numbers really say? In essence nothing, and, of course, when newspapers and the government keep being insincere towards the general public many idiots will believe the lies. And Swedbank? Please, that if anything should make anyone reading this crap to laugh out right. If there still are some of you monkeys that have accounts and such with that crappy institution, leave it now.

On a related note the same paper reports that SBAB, the governments own little lending-scam company, is showing a profit increase. Nooooo… how can it be? Can it have something to do with very low interest rates, the credit expansion and other governmental bamboozles?

And, finally, let’s take a look at another fine little perverted stupidity the paper is writing about. Because, of course, they lifted up the story about France and Germany showing slight plusses in GDP in regards to the first quarter. I have already revealed that scam and you can read about that here

Please people; don’t let this newspaper that clearly is an advocate of stupidity (in best case scenario) and/or just runs the errands of our enemies, dictate what to do from now on. If you like investments, buy gold, silver or similar items. If you own stocks, sell. If you own real-estate or a house, sell. There are still lots of idiots buying things, let ‘em. And please put away things that could be very useful in the future i.e. dried up food packages, cans and guns.

1 comment:

  1. Daniel Berg, SwedenAugust 15, 2009 at 4:14 AM

    Thanks. Good piece. I always love it when you expose prominent political/economical persons comments or the lies that are printed in swedish newspapers. Always interesting to read. // Daniel

    ReplyDelete