I have mentioned the Swedish interest rates and the housing and real-estate market before, but it is worth mentioning again, especially since several ”experts” on the subject is making mad statements. I wonder when the old media is going to interview a real expert that actually knows basic math and actually should be entitled ‘economist’. Apparently journalists hire doomsayers regarding harmless viruses or healthy fruits, but when it comes to economy and a lurking crash they find Mr. Positive. Am I the only one finding this very strange?
Johan Hansing, chief economist at the Banking-collaboration* (*my translation) apparently finds it very surprising that prices are going up and people are buying real-estate.
Really Johan? Did you find your title in a box with a chocolate pirate painted on the outside?
Another braniac that should be subjected to the witches’ floating-test is Bengt Hansson, analyst with the Swedish governments housing and credit department. This madman announces there is no crisis within the housing markets anymore since; pay attention now… *drum roll*…. The central bank has managed to keep consumption up!
And apparently the Swedish central bank isn’t pleased with how they have managed to destroy the economy so far, they are planning to cut rates even further. It is like living in bizarro world and mainstream economists are the ringmaster of the appending depression.
Remember what I have said before:
Please if you happen to bump into any of these mainstream economic as-holes during your long walks to find food in the future, please let a sign clearly point out for the rest of us where we can stop to piss and dance…
For those of you that do not know; prices are going up and people are buying things they cannot afford because interest rates are extremely low and there is much more money in the system. When this crisis continues and worsen; sooner or later the rates will go up, probably way up over 10% maybe even 20% or higher. So if you are stupid enough to borrow money you in reality shouldn’t be allowed to borrow and if you then are foolish enough to spend it on real-estate you actually cannot afford, please make sure, if possible, that you at least fix your rates, preferably for a long time. It will not help very much, but it might buy you some extra time.
On a related note; I said earlier that the stock markets were going to go up some at the end of April and beginning of May. However if you didn’t get out before, you should seriously consider it now. It might still move somewhat upwards, but it is all a shimmer of illusions built on fictive rates, much more money in the system and false hopes. Also, look closely at the numbers, there are fewer companies (than during a normal year) dragging the rest with of the markets upwards, but this will not last. Sell it all and buy gold.
