>>214503430
Swedens population is one of the most i debt people on planet earth. The average family โownsโ nothing. House on bank loan, cars on bank loan, university loans, phone payment plans, furniture on payment plans, etc etc
When they hiked the rates 2-3 years ago to combat inlfation following the pandemic, since central bank rates dictates every other rate, this mean the entire country was tapped out, people had no money left over because their loans doubled in price lots of times, everyone lived paycheck to paycheck in an entire country, no one had any money left over, no spending = no commerce, businesses shut down because no customers, people lose their jobs etc
Death spiral, the government is now floating cutting VAT on stuff to make people spend money because no one is buying anything anymore, housing market is on ice, car sales plummeting, businesses closing.
Itโs a death spiral on the verge of deflation if things donโt turn around soon