Stockholm Riots

Posting this as it unlikely to appear anywhere in American media. It's not just Spain, Greece etc.

The riots appear to have been sparked by the police killing of a 69-year-old man wielding a machete in the suburb of Husby this month, which prompted accusations of police brutality.

The left-leaning tabloid Aftonbladet said the riots represented a “gigantic failure” of government policies, which had underpinned the rise of ghettos in the suburbs.
“We have failed to give many of the people in the suburbs a hope for the future,” Anna-Margrethe Livh of the opposition Left Party wrote in the daily Svenska Dagbladet.
An anti-immigrant party, the Sweden Democrats, has risen to third in polls ahead of a general election due next year, reflecting unease about immigrants among many voters.
Some 15 percent of the population is foreign-born, the highest proportion in the Nordic region. Unemployment among those born outside Sweden stands at 16 per cent, compared with 6 per cent for native Swedes, according to OECD data.
Among 44 industrialised countries, Sweden ranked fourth in the absolute number of asylum seekers, and second relative to its population, according to UN figures.


endzeit14 said...

The multicultural paradise in reality. Oh, isn't it great, what this has achieved within he former calm, trustful and peaceful european nations!

Lord Sidcup said...

This blog is better when it's about PMs /PM hucksters etc.

S Roche said...

Yes, m'Lord:

Thinking this could be a big deal.

Copper being big in China.

On topic: lots and lots of tension ready to boil over everywhere.

Louis Cypher said...

I have but skimmed the first few paragraphs of the article and got the message "short copper"

I recall another ZH article about a year ago pointing out that the huge stockpiles of copper in the bonded warehouses was effectively mortgaged out multiple times and the basis of all sorts of loans.

Hmmmm, not enough Copper in the warehouses? Buy more Copper or default or somewhere in between. When Goldman Sachs gives advice I check to see if I still have my wallet.

This tune seems awful familiar though. Something about defaults and empty vaults.
Isn't that bullish?

Head hurts. I'm confused. What time am I?

costata said...

S Roche and Louis Cypher,

If you ignore the usual ZH hysteria in that piece about copper it's actually quite informative for a simpleton like me.

I appreciated the explanation of how commodities are used as collateral by Chinese exporters and importers for currency and interest rate arbitrage.

Given the range of commodities that appear to have been part of this trade it doesn't augur well for commodity prices over the next few months.

I read a report some time ago which suggested that the supply of cotton in Chinese bonded warehouses equalled 6 years of demand from the garment industry.

costata said...


It appears that blogger has given up on its vendetta against Uncle costata's comments.


CrackWhoreGold said...

I love the smell of a welfare state carbeque in the morning. It is only a question of time before Belgium, Holland and France erupt too. And unlike the teaparty these idiots have allowed the themselves to be disarmed.

Bron Suchecki said...

And if you look at gold re-exports from HK to China you'll see the same game has been played with gold.

Although I doubt (hope?) there isn't a stockpile of gold sitting around that will come back onto the market.