Monday, October 27, 2014

THE SWEDISH AFFAIR

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Affairs for whatever reasons can go either way, bad or good.

The Swedish one doesn't appear to be a very happy one at this point as reported in the Financial Times today. 

Leading Swedish executive have decried what they see as anti-business rhetoric of Sweden's new centre-left government.

According to the report, several Swedish executives complained to the newspaper after the new one-month old coalition government floated several new proposals than included closing the Stockholm's city airport, capping profits on private companies running public services and the closing of several nuclear reactors.

One of the concerned, chief of Sweden's largest bank, Nordea, Christian Clausen, characterized the new proposals: "Of course it is a worry that their rhetoric is so negative."

The new government apparently intends to raise taxes and, as some of the concerned put it is "taking some steps against private ownership."

Brain drain is one thing, an entrepreneur drain, though closely related, another. What many apparently fail to realize, or just don't care so long as they get their way, is the global market race for growth and jobs given all the deflation concerns just kicked up several notches.

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