That’s how it is; of course, the Americans can do that because their greatest raw material or weapon is the printer, though the situation could certainly change for them too in the future and the printer might run out of ink.
Most EU member states are also on the broad stimulus highway paved by the US, but Finland just whimpers along its own remote path of misery — the traditions of the 90s recession oblige.
And everyone understands that no state is able to pay off its loans and some kind of reset must be done Oh right, except for Finland of course Well, it’s good to keep the people down a bit; someone has to make that money for us bourgeois. and work cheers you up!
There are also ~24,500,000 millionaires living in the States (source: Harvia CEO Matias Järnefelt), which definitely has a hell of a big positive impact on private demand and, through that, economic growth, as citizens in the big picture have money to spend. This fact, of course, is something that people in Finland never want to bring up as an obvious explanation for the differences between the US and Finland when it comes to the economy, because you aren’t allowed to tell the public that they are dirt poor compared to many of their peers.
In the end, there is a very small group of people in Finland who can afford to spend more. I believe you can still make it into the top income decile with a gross income of just under six thousand euros, which nets you just under four thousand. In practice, that is so little that you have to think very carefully about what to invest in. If you’ve made the mistake of buying a grand house and a car, the increased interest rates eat up the budget that could be used for leisure and “luxury”.
Well, one could of course say “cut your coat according to your cloth” and live like @Sijoittaja-alokas, but then who in this country consumes various services and buys “luxury products” like, for example, a boat made in Finland, if/when even the top ten percent of earners can’t afford it? Not much money is left for investments either; instead, people trust that the pension pyramid will take care of things.
Our standard of living is simply much lower than, for example, in the USA, even though we tell ourselves otherwise. Of course, the impoverishment of the middle class is also happening in the USA, but there are also relatively many more well-off people there than in Finland.
Edit: there was some criticism above regarding the repayment of government debt. That can be continued in the politics thread…
I also had one page left open that worked for some reason – once I closed it, I couldn’t get any new ones to activate. It’s a strange situation when Nordnet isn’t even able to communicate the outage to its customers. There’s nothing on Nordnet’s Twitter page either. It doesn’t really give a good impression of the company’s operational capacity. I clearly have a session open, it’s just loading, but no data is visible…
First it was Vastaamo, and now the data breach involving Helsinki’s children and teachers. The decision-makers live in Helsinki. Will we finally get a legislative change that allows crime victims to change their personal identity codes?
It is no longer enough to use the excuse that current IT systems don’t allow it. They just won’t give permission, even though we all went cap in hand to ask the IT systems—everyone from the government and parliament to the top experts in the field. Permission wasn’t granted. Case closed.
Oh right, except for Finland of course 
Well, it’s good to keep the people down a bit; someone has to make that money for us bourgeois. 
and work cheers you up!
