"Nobody's money" can be dangerous money

For full transparency, I strongly detest socialism.

I'm a big fan of capitalism, even though there are certain types of businesses I'm not overly fond of. One of them is giant pension companies that risk the financial future of their investors in favor of so-called green investments and start-ups.

Another is companies where there is no clear owner, for example hedge funds, venture capital companies, etc., which invest short-term with the sole intention of making as much money as possible in the shortest time, often bonus-based. These companies can take over entire local areas and moves all profits to parent or sister companies that are often located in other countries or even continents. These companies naturally have no interest in the area and refrain from reinvesting because of potential bonus system anything in the local community. This often impoverishes the local business community and, in the long run, the local population as well.

As much as I dislike this procedure, I detest socialism considerably more.

Making money 24/7

Despite the many dividends we have received in the past few days, we are still waiting for 12 more dividends. In total, we are still waiting for about 30% of June's estimated dividends. Of these 12, Ares Capital Corporation Common Stock (ARCC) and Sixth Street Specialty Lending, Inc. Common Stock (TSLX) are by far the largest, making up about 68% of the remaining 30%.

Since we have closed our business for the summer now, it is grateful to still get money in the form of a dividend. As a CFO, you always want a cash flow. Due to the complexity of the plumbing industry, we cannot hire temporary staff when regular staff are on holiday. The potential risk of water damage is too great to take that change, it is impossible to find competent personnel for a summer temporary position.

Hello Tax refund, You are very welcome to my account

Our reduced risk-taking comes at the expense of previously higher returns, which resulted in significantly lower dividends compared primarily to 2019, both in dollars and cents and as a percentage. But on the upside, our equity portfolio is now more resilient to general stock market declines.

For example, our holdings held up yesterday when both the Nasdaq and the USD fell and stayed almost at the level they opened at yesterday, the help the portfolio value received yesterday from the dividends was so low compared to the total value that it is incalculable.

In addition, yesterday we also received our foreign tax refund at Nordnet. As a taxpayer in one of the world's most taxed countries, in 2022 Sweden had the eighth highest tax rate of OECD countries, it is incredibly satisfying to get some tax back instead of just paying tax all the time.

The hunt for the record year 2019 is in full swing

Today we received several dividends, mainly in our endowment insurance with Nordea. The fact that the US dollar today weakened against the Swedish krona at the same time that the share price of Realty Income Corporation Common Stock (O) was ¢12 lower compared to yesterday meant that we chose to increase our holding in (O) today. We are not even halfway to the number of shares we have as a target in (O), depending on the outside world, the target can be revised.

Assuming none of our holdings cut their dividends, it is already established that 2024 will be our second best dividend year ever. Even if we wouldn't receive a single cent in extra dividends for the rest of the year.

However, if our "engines" (FDUS) and (MAIN) continue their extra dividends for the rest of the year, the gap to 2019 will narrow significantly. I expect we won't reach the 2019 dividend until 2026 at the earliest. Which is an acceptable result given the damage that Covid-19 did to our portfolios and the fact that we significantly reduced our risk-taking afterwards, resulting in a much lower return.

Gen X is to blame for this

Me and the world's most perfect husband belong to Junior's great surprise Gen X and not Gen Baby boomers. For many years Junior was convinced that me and his dad were Gen Baby Boomers because quote "you look ancient" unquote.

Having to admit that we belong to Gen X who are responsible for raising Gen Z (or as I call them Gen Spoiled Brats) is nothing to brag about. That a generation that grew up with South Park and Family Guy is so easily offended is unimaginable. In addition, they lack drive and want everything served.

My husband and I are absolutely no better than anyone else. The world's most perfect teenager is just like (almost) everyone else of his generation. The only time he shows signs of fighting spirit is when he tries to get away with things, for example homework etc. So obviously he has some fighting spirit in him... Thankfully, he is not easily offended.

The latest measure they have adopted is Quiet Quitting, which means they barely perform their duties. Making a little extra effort to gain an advantage in the future does not exist in their world. I don't understand the "Quiet Quitting" measure itself, if you don't like your workplace just quit. Or are they too lazy for even that…

Empty promises

The monetary policy announcement from Sweden's central bank AKA Riksbanken yesterday morning was completely in line with the market's expectations, the policy rate was left unchanged. To soften the blow, Riksbanken "promised" to lower the policy rate 2-3 times later this year. A promise as set in stone as the meteorologist's weather report for next week.

The risk of lowering the policy rate just before the summer is that the Swedish krona is likely to lose further value against the EUR and USD, causing Riksbanken to take the cowardly way out to avoid criticism when the Swede's holiday abroad become significantly more expensive.

Easy to trade with other people's money

The words green investment are the equivalent of the muleta (the red cloth used by a bullfighter), the audience is as captivated by the muleta as by the words green investment. The audience in this case are the type of people who completely stop listening after the words green investment are uttered and are immediately willing to spend both their own and, unfortunately, other people's money.

As a taxpayer in Sweden, my only tool to influence how tax money is spent is my vote. All I can do is vote for the party that I hope will make the best decisions for the Kingdom of Sweden and not for their political party.

As a private person, I can refrain from investing in funds that place my money in startups or green ventures if that is my wish. For example, when the world's most perfect teenager was baptized, he received shares in a green investment fund, which we sold and redeployed far too late.

Even as a pension saver, you must be familiar with and follow up on what the various trustees invest your money in. One of the companies that manages many Swedes' pension money is AMF. AMF is 50% owned by the Swedish Business Association and 50% by a trade union called Landsorganisationen (LO). AMF, like the Swedish government, has invested heavily in Northvolt, whose future is currently highly uncertain.

After the announcement that Northvolt will not proceed with its factory in Borlange, AMF regrets the decision but says that the most important thing is that the battery company survives and becomes profitable.

These green investment funds will continue to be burdened rather than benefited for many years to come.

Green Steel is equal to Green Steal

For transparency and my own agenda, I strongly dislike our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government.

The former Swedish government's financing of green investments risks ending in total failure. In addition to Northvolt, H2 Green Steel (H2GS) also has significant financial and technical "challenges", which in reality mean problems.

The project, which was originally budgeted at $4.415 billion and planned to start production in 2024, has now doubled its cost estimate to $8.83 billion and postponed the start of production until 2027 at the earliest. Exactly how many additional years are required before the existing iron ore pellets have been replaced with the carbon dioxide-free iron sponge is unclear. In the meantime, H2GS will produce steel in the same way as already established and competing steel mills.

There are around 80 different startups around the world with the ambition to produce fossil-free steel. The chance that H2GS will ever be able to cover its own costs and become profitable is minimal, mainly because another technological solution to making fossil-free steel is likely to prove more efficient. Should that be the result, not only the Swedish taxpayers are losers but also the environment, since infrastructure investments have been made in the local community in Boden based on the project being a success.

The uncertainty is so great that in the vernacular, Green Steel has now become Green Steal.

On its last legs

The problems for Northvolt continue.

Northvolt was founded in 2016 and was found as late as 2020 on YPAI's list as one of the youngest and fastest growing companies of most attractive employers.

In recent days it has emerged that 3 cleaners have died under mysterious circumstances and a police investigation is underway. In addition, Toyota Material Handling decided today to carry out as little on-site service and maintenance as possible at the factory in Skelleftea for the time being.

Normally it is said that start-ups can suffer growing pains, but this is more like the Black Death.

The best is saved for last

Today we received both ordinary and special dividends regarding Fidus Investment Corporation Common Stock (FDUS). The world's most perfect husband bought a small number of shares in British American Tobacco Industries, p.l.c. Common Stock ADR (BTI) for the money he received for (FDUS) dividend.

We chose to wait to invest the money in the other endowment insurances as there should be plenty more dividends within the next few days. Among others, we will receive dividends from (ARCC), (MAIN) and (TSLX).

We will not reach the same total amount as the March 2024 dividends for several reasons, including the fact that Hercules Capital, Inc. Common Stock (HTGC) is not regular in its distribution plan. Usually the companies are consistent in their plan but (HTGC) distributes during March, May and November. Exactly how much lower the dividends will be in June compared to March cannot be determined due to the unusually large fluctuations in the exchange rate. Anything lower than 7% is good.

As usual, the Social Democrats have stuck their heads in the sand

For transparency and my own agenda, I strongly dislike our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government.

Now it has emerged that the chairman of the municipal board in the City and Municipality of Gothenburg, Jonas Attenius, was aware that the decision in the purchasing and procurement committee to prohibit the purchase of goods and services from Israel was likely illegal. He was also aware that the possibility of the decision being overturned by the administrative court was imminent. Which also happened today. 

Despite this, the social democratic politician Mr. Jonas Attenius chose to stand in front of 15,000 visitors and receive their cheers when he said quote "your tax money should not go to maintain illegal occupations" unquote. To be precise, it's not even their tax money because Gothenburg, Sweden's 2nd largest city, burdens the municipal tax equalization system instead of contributing to it.

Criticism of Jonas Attenius has been significant at the same time that the Social Democrats' party leader Magdalena Andersson put the lid on the issue.

Hope is the last thing that leaves a human

The world's most perfect husband, who has been receiving money from one of his private pensions for nearly 1 year, today purchased a small number of shares of Stellus Capital Investment Corporation Common Stock (SCM). This acquisition reduced the "damage" for the coming March months caused by the husband's recent sale of his shares of Prudential Financial, Inc. Common Stock (PRU).

The significant amount of money we should receive within 5 business days will likely have reset the dividends for the coming March months once we invest them. The recent strengthening of the Swedish krona against the US dollar contributes to our dividends being reduced compared to previous months, albeit marginally.

The stronger Swedish krona and the month's lower special dividends compared to March result in the dividend for June being lower than for March. Despite this, June is by a good margin the 4th best dividend month of the year for us. Although I had hoped that June would be better than March given that we have reinvested all the dividends we received for April and May.

I am now hoping that September will be better than March.

Last announcement before the summer break

Today, Sweden's Finance Minister Elisabeth Svantesson stated at a press conference that the fight against inflation has been won and that the government has raised the growth forecast. The growth forecast is raised to 1.4% this year, from the previous 0.7%. For 2025, the growth forecast is adjusted down to 2.4%, from 2.5%, and 2026 is also adjusted down to 3.1%, from the previous 3.2%.

On Thursday, Sweden's central bank will announce whether it will leave the policy rate unchanged or if it will go against the market's expectations and lower it. Personally, I still believe that a 25 basis point cut in the policy rate will happen at the monetary policy meeting on 19 August 2024 despite the Finance Minister's statement today. The only thing that possibly speaks for a reduction in the policy rate is that the Swedish krona has strengthened against the US dollar despite the interest rate cut earlier this spring.

Oh (MAIN) (MAIN) where art thou (MAIN)

We have still not received our regular dividend from Main Street Capital Corporation Common Stock (MAIN) with the payment date of June 14, 2024. Given that Nordnet has never ever paid out dividends faster than Nordea, I guess our money is stuck in a suspense account with Nordea. When I spoke to Nordea last week they said quote "we are working on the problem and will get back to you as soon as we know something" unquote. I am still waiting for Nordea to get back to me.

(MAIN's) special dividend is scheduled to be paid on Thursday, June 27, 2024. I hope we get both the ordinary and the special dividend at the same time. If we haven't received any money regarding (MAIN's) regular or special by Friday this week, I will have to call Nordea again.

This is by far the longest we have waited for a payout.

Women in groups are never good, regardless of age

One of my brothers-in-law is turning an important age and we are invited to his birthday dinner.

Wise from past experience where my youngest sister used me to soften the blow of a previous fight between them, and that they later bonded at my expense, I have in recent years withdrawn and only attended family gatherings that are absolute musts, such as the upcoming birthday dinner.

Considering their ongoing argument, I have a growing lump in my stomach that is getting more and more noticeable as we get closer to the day. This time I will not accept that either of them try to include me in their quarrel so it might be better if I get "sick" and can't attend the dinner. I can't handle much more drama at the moment.

Patience is a quality that I have had to practice a lot

With exactly one week left in the month, we are still awaiting more than 75% of the month's estimated dividends.

My husband's sale of Prudential Financial, Inc. Common Stock (PRU) and purchase of Realty Income Corporation Common Stock (O) last week resulted in an increase in our dividends on an annual basis and a slightly more even distribution of our dividends between the months. While this is a good aftermath, it annoys me that the forecast for the coming months of March right now is lower than March 2024.

Hopefully, future investments will restore dividends for the coming March months to the same level as the March 2024 forecast while increasing the remaining months of the year. As of today, the dividend forecast for March 2025 is approximately $125 lower than March 2024. The main reason I'm eager to get our dividend in June is because I want to start restoring the forecast for March 2025.

Make sure you really know your trustee

A reconciliation company is a limited company whose articles of association contain conditions that the company's shares must be registered in a reconciliation register with a central securities depository. The reason why a company chooses to become a reconciliation company is often that the company wants to be listed on a market place such as the stock exchange.

A shareholding can either be registered in the owner's name (owner-registered) or trustee-registered. In the latter procedure, it is the trustee, i.e. the financial company, who is registered as the owner in the share register.

In owner-registered holdings, the shares are held in a securities account in the owner's name, while trustee-registered holdings are registered in a depository in the trustee's name in another type of securities account called a trustee account. The custodian, a bank or other securities institution, collects the custody customers' holdings in the custody account.

Trustees must keep a register of the shareholders who have their shares registered as trustees. Upon request from Euroclear Sweden, they must be able to provide information on all shareholders and the number of shares in a so-called trustee list. The list of trustees must show which shareholders own what.

A financial company that owns its own securities must keep them separate from client assets. It is only this list that gives you a so-called separation right if the financial company files for bankruptcy. If the company, in violation of the rules, has mixed its and its customers' assets and it is not possible to distinguish which holdings belong to whom and the customers risk losing their holdings, the state's investor protection may come into question. Investor protection is a commitment from the Swedish government and is administered by the National Debt Office. Investor protection covers just over $22,000.

This knowledge, which is new to us, has caused us to completely refrain from smaller financial companies. We do not want our holdings to be administered by a financial company equivalent to Fawlty Towers run by a CFO like Basil Fawlty. Although the fictional character mr. Basil Fawlty certainly had no bad intentions.

As a mother of a teenager, I worry about everything

Midsummer Eve was magical except that Junior spent it with 7 of his schoolmates instead of us. They were at one of the boys' houses, playing soccer on the soccer field near the friend's home.

To allow this on Midsummer Eve, which is known for drunkenness and brawls, I wanted to know exactly which friends he was going to meet and that he called me at 8 p.m. He also had the choice of either being home by 10 p.m. or I would pick him up with the car if he wanted to stay longer. The reason I am so protected against him is because Sweden has a problem with youth gangs who rob and abuse mainly ethnic Swedish teenagers.

He came home at 10:30 p.m. after he called and announced that he and a friend had missed the bus. When he came home, I smelled him surreptitiously and could tell that he had behaved in an exemplary manner.

We really do have the world's most perfect teenager.

He has misunderstood the mission with tax money

For transparency and my own agenda, I strongly dislike our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government.

The city and municipality of Gothenburg made a decision in the purchasing and procurement committee on Thursday 20 June 2024 to stop the purchase of goods from Israel. The next day, Friday June 21, 2024, the social democratic municipal board chairman Jonas Attenius spoke at a gender-separated prayer in Slottsskogen, which, according to Gothenburg's mosque, may have had upwards of 15,000 visitors.

Jonas Attenius briefed on the decision, spoke about Gaza and said quote "I'm not a foreign minister or a diplomat, but you know what, today I don't care" unquote. This behavior shows evidence of poor governance and management of tax money.

Tax money should finance important social functions such as schools, healthcare and the police, not to recruit voters.

More people need to start contributing

For transparency and my own agenda, I strongly dislike our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government.

The city and municipality of Gothenburg is Sweden's second largest city. The municipality has been governed by the Social Democrats for the past 30 years with a break between 2018-2022. The municipality receives grants from the Swedish state through the municipal equalization system.

The purpose of the municipal equalization system is noble and was created so that small municipalities and regions with few municipal residents and thus low municipal tax revenues can provide statutory important and costly functions, such as healthcare, school, police and more.

That both Sweden's second largest and third largest city with a large number of inhabitants, measured by Swedish standards, are allowed to take part in the municipal equalization system indicates that something is wrong in these cities. As a large city, you should contribute to the system, not burden it.

Stockholm City and Municipality is one of the very few municipalities that contributes to the municipal equalization system.

"The problem with socialism is that sooner or later you run out of other people's money," - Margaret Thatcher.

Bittersweet

Actually, Midsummer is as lovely as heartbreaking since it marks the end of the summer period. Yesterday at 10:51 p.m. the summer solstice occurred, that is, the time when the sun is at its highest in the northern hemisphere. Then the night in Sweden is the shortest of the year and the day the longest.

In practice, this means that even though summer has just begun, we are literally heading for darker times and shorter days until December 21, 2024, when the winter solstice occurs and everything changes again.

Winter's coming...

Midsummer Eve

Today is Midsummer Eve, which is one of the major holidays we have in Sweden. This year will be the 5th time in a row that we celebrate Midsummer Eve together with our best friends, the godparents of the world's most perfect teenager. They live in a gigantic house just outside Stockholm with a deep tiled pool where we take the annual midsummer bath. No matter what the weather is.

We celebrate Midsummer in a very traditional way with Vasterbotten pie, grilled salmon, toast skagen, several different kinds of herring, fresh potatoes, strawberry cake and much more. Unfortunately, I missed ordering a midsummer wreath so this year will be the first year in many years that I don't have a flower wreath on my head.

We live and learn

Due to changed conditions, we have stopped buying minimal control posts for some time now. Since Nordea raised the price for brokerage, it has become economically indefensible to acquire these small posts. Therefore, we have changed our behavior, instead of acquiring individual shares in a company, we have created a fictitious share portfolio in Seeking Alpha where we follow companies we are interested in.

Nordea's price increase was a wake-up call. Even though the brokerage was just under $1 for these single stock purchases, they were still a cost and sometimes an additional $1 when we sold the stock after we decided not to invest in the company. Additionally, we locked up quite a bit of capital in stocks that never qualified for our portfolios.

I will never be fully learned.

Reallocated dividend

Several good consequences resulted when the world's most perfect husband sold off almost all of his holdings in Prudential Financial, Inc. Common Stock (PRU). He still has 1 share in (PRU) in his depot at Nordnet, a leftover from when we bought so-called control posts.

He reinvested the entire amount in Realty Income Corporation Common Stock (O) resulting in an unintended redistribution of our dividends that weakened our strongest months, Group 3, and strengthened both Groups 1 and 2. In addition to more even payments during the year, dividends increased overall.

This latest acquisition of (O) means that we have acquired 1/3 of the total number of shares we intend to acquire in (O).

When it rains it pours

The problems for the Northvolt battery factory continue. Yesterday, the chairman of the municipal board in another place in Sweden, Borlange, was informed that the company's plans to build a factory for the manufacture of battery components have been scrapped. The municipality governed by the Social Democrats sold the land to the company at a reduced price with promises of future jobs, close to 1,000.

The company's founder and CEO Peter Carlsson informed the chairman of the municipal board Erik Nises that the company will sell all the land. According to Erik Nises, the company said the following quote "They have referred to the general financial situation and the company's position" unquote about the suspended construction and the sale of the land.

In addition to this, it has now also emerged that the company is preparing for another capital injection in the form of a new issue after last year's losses of billions. Despite the company's billion-dollar losses, Peter Carlsson sold off part of his holding in the company to a value of $17,658,000 as recently as the end of last year.

Beyond the obvious problems with manufacturing itself, there is a possible additional problem in the future for the company. Since they manufacture batteries for external customers and development is very fast, there are no guarantees that the technology has not changed when and if Northvolt gets its manufacturing in order.

This makes them more vulnerable than, for example, Telsa, which manufactures its own batteries and thus has greater control over any technology changes.

Pattern of change

The world's most perfect husband told me 6-8 months ago that he had noticed a pattern of change. When we, I'm 54 and my husband is 56, were growing up, the guys hung out in pubs and drank beer while the girls hung out at home. Today, it's the girls who hang out at wine bars and drink Aperol Spritz while the guys are at home and hanging out online.

This, combined with the fact that stores and companies have "moved in" with their customers via e-commerce and that the attitude has shifted from saving first and shopping later to shopping first and paying later, has meant that the girls' indebtedness has increased significantly.

Even at the Swedish Enforcement Agency, this changed behavior is noticeable because many girls cannot meet their payment obligations.

(MAIN), where are you?

Nordea, which is usually the fastest of our banks to handle and pay foreign dividends, has still not paid the Main Street Capital Corporation Common Stock (MAIN) regular dividend as of June 14, 2024.

I called Nordea the day before yesterday and asked about the dividend, a couple of hours later I received an email that they are working on the matter. We still have not received our dividend nor have we been given any further feedback as to when we can expect to obtain our dividend.

As (MAIN) is our largest holding, this is one of our larger payouts.

He is home

I was 24 and my husband was 27 when we got together. My ex-boyfriend cheated on me, saying that if only I had worked less, wanted kids, and been more of a homemaker, he never would have cheated on me. This led to when I met Mr. Dewlar a year later, I was very clear that I did not want children, was definitely not "housewife material" and that I was working at least 80 hours per week. He said it fit him like hand in glove and that's where our saga began.

After 5 years we got engaged and after another 5 years we got married. 2 years and 3 months into our marriage the world's most perfect husband said for the first and only time that if we were going to have children it was the last chance because he was turning 40 the following year and felt he would be too old by then. I agreed we would try for a baby and assumed it would take time since we were working 100 hour weeks and I would be 37 next month. 9 months later, on our 13th wedding anniversary, the world's most perfect baby was born and I was fundamentally changed.

Yesterday the world's most perfect teenager came home from Paris and I was able to relax for the first time since he left. I met him at Stockholm Central Railway Station when he arrived with the Arlanda express from Arlanda airport and accompanied him home. After that I had to go back to work but the feeling of knowing Junior was home was indescribable. When I got home from work I fell asleep on the couch and woke up to the world's most perfect husband waking me up and we went to bed. Then I slept through the night and didn't wake up until 7:30 a.m. which is late for me.

Now I'm sitting on the sofa and enjoying the knowledge that the world's most perfect teenager is in his bed sleeping. I hate to be the world's most pathetic mother but I can't help it.

I didn't know you could love someone so deeply.

Some things can only happen in Sweden

For transparency and my own agenda, I strongly dislike our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government.

Botkyrka which is a suburb AKA a disadvantaged area to Stockholm and constantly on the razor’s edge. The municipality to which this suburb belongs is governed by the Social Democrats, who as recently as February 2023 denied that their organization in Botkyrka had been infiltrated by gang criminals. A denial they later had to retract. The then municipal chairman who warned that gang criminals had infiltrated the Social Democrats was overthrown in June 2023.

To counter gang crime, Botkyrka municipality has received $5,739,000 in grants from the government. Of this money, the municipality took $35,300 and let 23 municipal politicians travel to New York at the taxpayers' expense. When this was discovered, the Social Democrats' press director Lennart Agén confirmed that a mistake had been made and that they would refund the full amount.

If I happen to take my husband's jacket instead of mine, that's a mistake, booking, paying and sending 23 municipal politicians at taxpayer expense to New York is intentional.

There is a risk that I will push this too far

The world's most perfect husband is currently incredibly jealous of my cell phone. I managed to add a feature to my iPhone or as he calls it "a girl phone" that is not available on his Samsung, namely a widget on my lock screen with the exchange rate between the Swedish krona and the USD plus the Swedish krona and the euro.

All day I have "forgotten" my girl phone on his desk to really annoy him.

I don't like quotas

For transparency and my own agenda, I strongly dislike our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government.

Northvolt AB is a Swedish battery developer and manufacturer, specialising in lithium-ion technology for electric vehicles. The company was founded in 2015, it commissioned its first manufacturing plant in Skelleftea, Sweden in 2021 and has announced plans for five others in Europe and North America.

In less than 9 years, the Swedish government has funded Northvolt with $88,290,000 of the total $882,900,000 the company has received. Despite the huge funding from various investors, the factory's capacity was no more than 1% of its full potential last fall. In the first nine months of 2023, the company's loss amounted to $97,120,000 and the last three months were even worse.

The Canadian factory manager Mark Duchesne says in an interview with the Swedish financial newspaper Dagens Industri that quote "We had a very, very tough fourth quarter. Probably the worst quarter of my entire career. It was tough for the staff and for us as a company.” unquote.

Northvolt One, which is the name of the Swedish factory, has stated that they particularly want to attract women quote "Women have long been underrepresented in the industrial sector, we want to change that." unquote.

According to Northvolt's expansion manager Katarina Borstedt, there are not enough people locally, so their entire recruitment strategy is based on supporting the municipality in the work to increase in-migration. Together with the municipality, Northvolt has various projects to find people who have the right potential for the positions they are looking for and who are interested in moving. Because these workers lack the skills needed to work in the industry, the company must train them.

Given the huge delay, the enormous losses and a nightmare year 2023 for the factory manager, a logical conclusion should be that it would be better to hire the right skills from the beginning.

As a taxpayer, I want my hard-earned money to be treated with respect.

A not so pleasant ride

The Swedish krona continues its roller coaster ride against the US dollar. The price of $1 can almost go up or down by ¢2 in just a couple of hours. The Swedish Central Bank AKA Riksbanken will very likely carry out the year's second reduction of the policy rate by 25 points on August 19, which in turn will lead to further pressure on the Swedish krona.

The reason for this is that the lower interest rate reduces the return on interest-bearing securities, which creates an outflow of capital to other countries where the return is higher. This reduces the demand for Swedish krona and the currency weakens.

Since FedEx has signaled that it only intends to cut the policy rate once in 2024, the Swedish krona will continue its roller coaster ride for the rest of the year as Riksbanken will most likely make two more cuts in 2024.

In an increasingly fast-paced world, even old institutions must change and develop

The Central Bureau of Statistics (SCB), which is responsible for reporting the inflation rates in Sweden, has decided that from August or September 2024 a "fast CPI" will be introduced. This value will be a preliminary figure published five working days before regular publication, which will be approximately one week after the end of the month. Detailed indices (eg food and energy price trends) will not be published with "fast CPI", but will continue to be published only with regular CPI.

"Fast CPI" will deviate on average by one hundredth of a percentage point from the regular published CPI inflation rate, according to SCB.

A new type of communication

The trip to Paris was combined with a SHALL/SHOULD requirement for the boys and that is that they must answer as soon as one of our parents calls or texts. This worked perfectly the first day of the trip. We received texts and pictures from check-in, boarding, landing, report of lost backpack, arrival at the studio and finally a text that they had gone to bed for the evening.

To say that yesterday's, day 2 of a total of 6, feedback was sparse would be an exaggeration. The only feedback I received yesterday was from the financial app Revolut with regular notifications about various purchases made in Paris. That way I could follow the world's (maybe not) most perfect teenager and his friend around Paris.

Also, since Junior turns 17 at the end of August, his apple id is still linked to my apple id which gives me the ability to see that his phone was in the studio at the time of the evening we agreed upon. Had I not had this opportunity I would have traveled to Paris last night since he still hasn't replied to my last text I sent last night.

Teenagers being teenagers

The world's most perfect teenager and his friend traveled to Paris yesterday. To reduce the risk of them forgetting a bag, it was decided that they would only bring a backpack and a carry-on bag each. Literally 95 minutes after they landed in Paris, Junior's friend had already lost his backpack. The offspring called us almost immediately and told us what had happened.

We asked them to search the area they had been in and ask in nearby shops if anyone had handed in a found backpack and then go to the police station and make a report. After another 1 hour, they had to go to the nearest police station and report the lost backpack which, in addition to a computer, also contained his passport. When they finally got to the studio they get to borrow for free from a family friend of the offspring's friend, the boys were in for a shock.

Although this studio is located in one of the absolute best arrondissements in Paris, the studio itself is in poor condition. The studio is constantly loaned out for free to friends and relatives, whereupon the condition of it is sub-par but with an amazing location.

Almost all of Junior's friends' parents are diplomats, CEOs, etc. so his idea of ​​what an average home is is pretty skewed. In his world, our apartment is the lowest standard he's been in, so this reality check was pretty brutal. He really didn't want to sleep in the studio and it took all my willpower not to accommodate his wish to move to a hotel. I had to explain that when your friend's dad have arranged accommodation, you don't embarrass your friend's father by moving to a hotel because you think the studio is in poor condition. You suck it up and take one for the team.

This bad news cannot go on forever

CPIF for May was 2.3%, which is slightly higher than the 2.1-2% that most economists had predicted. This cemented the market's expectations that a future cut in the policy rate will only take place at the monetary policy meeting on 19 August 2024 and not on 27 June 2024.

I believe that Riksbanken will be forced to lower the policy rate by at least 50 percentage points before the turn of the year 2024/25 to get Sweden's economy going again. Since March 2023, the number of bankruptcies per month has continued to be higher than the corresponding month the year before, which is 15 months in a row.

The trend is deeply worrying and indicates a deep recession.

We have a plan, let's see if we follow it

Today the world's most perfect husband received some small dividends on his endowment insurance with Nordea. These dividends were converted into a smaller number of Realty Income Corporation Common Stock (O). The current dividend yield for (O) is 5.92%, which we believe is good for this stock. This increase in (O) also reduced his net asset value (NAV) of the holding.

We should receive the regular dividend for Main Street Capital Corporation Common Stock (MAIN) this coming Monday. Then we will probably increase our holding in Fidus Investment Corporation Common Stock (FDUS). We are almost 400 shares short of (FDUS) before we are sufficiently invested in them.

They are not to blame, their parents are

I never cease to marvel at Gen Z's behavior and demands on the outside world. Their upbringing can be likened to baby birds sitting in the nest with their mouths open calling out to their parents that they are hungry and waiting for the parents to literally chew the food for them.

Instead of chewed food, they are used to getting whatever they point at for free. If it is not the parents who pay, they steal music and/or movies online, for example. In addition, they order clothes in large quantities from various e-commerce stores that they ship back and forth without realizing that their shopping habits affect the climate. Several e-commerce operators in Sweden have even banned some of them from shopping with them because they order the same item of clothing in several sizes and colors and return almost everything unless if they at best case keep one item.

Every time it is revealed that these e-commerce operators manufacture their products in low-wage countries, they are completely oblivious to working conditions in the countries concerned being more similar to slave conditions. In their world, it is entirely possible that the sale price of a $14 shirt includes sales tax, shipping, cost of materials, profit, decent wages and climate compensation measures. Those responsible for their behavior are the parents who have not taught their children to see the big picture and understand if the price of the shirt can cover all the variables without sacrificing anything.

Our son will either be the worst of his generation or rule the world.

I will remind him of this forever 😂😂

Nine working days ago I received my tax refund for the income year 2023. The world's most perfect husband, on the other hand, has not received any information about his tax refund for the same income year, so yesterday he logged into his tax account and saw that the Tax Agency had paid out his money on the same day as mine.

Since he hadn't receive the money in his bank account, he called the bank, which stated that no money had been sent from the Tax Agency and asked him to contact them instead. After waiting on the phone for more than 55 minutes, it was finally his turn and he got to speak to an officer who asked what income year was meant. He confidently explained that it applies to the income year 2023 as if it were a non-issue.

The officer then informed my husband that the payment he was talking about is for the 2022 income year and his income tax return for the 2023 income year has not yet been reviewed. I laughed so hard I almost peed myself when he told me about his mistake.

Changing government makes a difference

For transparency and my own agenda, I strongly dislike socialism and our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government. The current government has not fulfilled all its election promises, far from it, but now changes are starting to come which will hopefully protect the Swedish tax money.

Sweden has a well-developed and generous welfare system with few control points that is largely based on the honest intentions of the beneficiaries. Starting a business with the intention of defrauding tax dollars has been frighteningly easy with low penalty scales and absolutely no risk of physical harm.

This morning, a first step was taken to make it more difficult to carry out these crimes. As a beneficial owner, you can now be called to appear at the Swedish Companies Registration Office, it will be easier to revoke F-tax certificates and condominium associations and economic associations must report their figures to the Swedish Tax Agency. Hopefully, these measures will make it more difficult for criminals to commit welfare crimes through fraud.

Our politicians are bad enough at managing our tax dollars without these crooks helping out.

He regards his parents as pure evil

Today is the official last day of school for the world's most perfect teenager in grade 10. He was very close to not qualifying for the Diploma Program (DP). At the school Junior attends, you must have one subject with a grade of 3, all other subjects must be 4 or higher, with the highest grade being 7.

The subject he came stumbling close to failing in is English literature. I know he knows, but I doubt he understands how close he came to disqualifying himself for Year 11. Although his English teacher did her best to hinder rather than help him, he has himself to blame.

My husband AKA his father and I have decided that the consequence for his deficient studies during the school year will be that he will read two chapters from a book and solve two math problems every weekday for the entire summer break.

I think he overestimates his height

The world's most perfect teenager is more than happy with his height, 6'1 (186 cm). One of Junior's favorite jokes is when he drops something on the floor to turn to me and say quote "Can you pick it up? You're SO much closer than me!" unquote. Today the world's most perfect husband started using the same joke on me.

I can accept my toddler making fun of my 5'6 (168 cm), that my 5'10 (178 cm) husband using the same joke is not okay. His 5'10 isn't that much taller compared to my 5'6. He'll have another week of fun, then I'll take action... 😉

Hope is the last to abandon man

Now on Friday, June 14, the Swedish inflation rates for May 2024 will be presented. The market expects inflation to have fallen further and is in line with Riksbanken's inflation target for CPIF of 2%. This expectation is based on the weak demand from Swedish households, which has been exacerbated by the fact that wage increases are relatively low and that the weakening of the krona has slowed down.

The fly in the ointment is the hotel and plane ticket prices, which increased due to the Eurovision Song Contest and Ms. Taylor Swift's concerts in Sweden, which attracted a very large numbers of people from all corners of the world.

Inflation rates that are in line with Riksbanken's target increase the chances of a reduction in the Swedish policy rate at the next monetary policy meeting on 27 June 2024.

I hope he behaves better than I did

The teenagers won and get to go to Paris this summer. The only reason I agreed to this is that there is a network of adults in close proximity to the boys in Paris should anything happen. How I will survive these days is beyond me.

I understand the irony that I myself traveled to Tenerife with my then boyfriend and 4 other friends the same age as Junior and was completely unempathetic to mum and dad's concerns at the time. How I am going to be able to distract myself for 6 days from thinking catastrophic thoughts remains to be seen, drinking alcohol for 6 days straight can be an option...😉

Which word you use matters

Incredibly gratifying that 4 more people taken hostage on October 7, 2023 have been rescued by the IDF. At the same time, it is equally sad that innocent people have died in the rescue operation, but the blame for their deaths lies entirely with Hamas.

Unfortunately, CNN wrote that the hostages were released instead rescued in their reporting on the rescue operation. A trained journalist knows that words have meaning and although it is grammatically correct to use the word released, it would have been more correct to write rescued. Otherwise, it could be interpreted as if Hamas released 4 hostages voluntarily, which is not consistent with reality.

Source review, source review, source review

Today is the actual election day for the EU Parliament in Sweden. Swedish residents in Sweden have had the opportunity to vote early since May 22. This election campaign has been surrounded by various influence campaigns from all sides. Even traditional media have participated in this.

In Sweden, there have been problems with election forecasts recently. The opinion agency Novus, which has been hired by SVT since January 2017 to compile voter barometers, was revealed in early December 2023 to have fabricated the number of respondents in its surveys. The company claims it's just a rounding error. However, in the 2022 government election, the state-run Swedish television's (SVT) election forecast, Novus' voter barometer, indicated the wrong outcome of the election.

I personally lost faith in election forecasts because of this. Unfortunately, you always have to think about who compiles or who orders the forecast these days.

Better for some, worse for others

The Swedish krona lost 2.3% in value against the US dollar last Friday, which equates to just over ¢2. Which meant that, calculated in US dollars, the value of our holdings fell at the same time as it increased in Swedish krona. If this exchange rate change holds on throughout June, the outcome for us personally will be that our dividends will be higher than I thought last Thursday but still less compared to March 2024.

However, the summer holiday trips for the majority of Swedish travelers living in Sweden became more expensive because, in addition to the US dollar, this also affects the euro. Although that decline was significantly lower, just 0.5%.

We have not yet decided whether we will travel abroad this summer or stay in Sweden.

The ignorance is palpable

For transparency and my own agenda, I strongly dislike socialism and our previous government, the Social Democrats with the support of the Green Party and the tacit acceptance of the Left Party, who ruled Sweden for 8 years. At the last election, I voted for the current government.

It was discovered in 2019 that the state's energy authority had granted "green loans" to hopeful listed companies without any major review. The green loans were never followed up and the companies could for several years ignore repaying the loans without any consequences whatsoever. In all, it's more than $441,500,000 of taxpayer money. Last week it emerged that the majority of these loans have been converted into grants instead of loans.

There is nothing that opens doors and grants loans like "green investments". It's as if the lenders stop reviewing the application documents as soon as they read green investments. I can almost see a parallel between the matador's approach of inciting and luring the bull with the red cape to investors' use of the words "green investment" to get a share of the tax dollars.

The control and respect for tax money is non-existent.

Blonde hair is a kind of light

With all this darkness, I'm thinking of bleaching my hair. Unlike the image of the original Swede with blue eyes and blond hair, my natural hair color has been dark brown. This is due exclusively to my grandmother, who was 50% native Swede.

My grandmother was an incredibly beautiful woman with high cheekbones, almost raven black hair, brown eyes but unusually tall for being a native Swede. Many native Swedes have dark hair, brown eyes, high cheekbones and are relatively short.

Apart from my blue eyes, I have never had a typical Swedish appearance with the dark brown hair and high cheekbones. It's been many years since I got my first gray hair. Since that day, I have constantly dyed my hair the same dark brown color as my natural hair color. I'm thinking that instead of dying the gray hairs dark brown, dye it ash blonde to avoid the obvious growth.

So at the age of 54, maybe I will look Swedish.

Too much darkness

Apart from 2022, the last four years have been onerous. First Covid-19, which broke out properly in Sweden at the beginning of 2020, then rampant inflation, which was followed by the ongoing recession. Added to this is the invasion of a country in our immediate vicinity of its neighbor and Hamas's attack on Israel.

On a personal level, my best friend has cancer, declining sales in our business, one of the offspring's teachers who dislikes him on a personal level, and a big fight between my siblings that I have nothing to do with but still gets dragged into. All of this requires a deeper commitment that individually would have been manageable but taken together almost feels overwhelming. Although I hate confrontation, I had to contact Junior's teacher today.

The background to this problem is that the offspring and a friend of his misbehaved during the very first lesson with this teacher in grade 10. Her first impression of our son was not good and it is completely self-inflicted, I do not excuse him. For the entire first semester I defended the teacher when he complained that she never helped him and said he had no one to blame but himself.

But her way of treating Junior throughout the school year is completely unprofessional. Not once during the entire school year has she "had time" to help our son when he asked questions or sought her help. Our son's friend was treated the exact same way until his parents confronted her and she instead became very accommodating towards to both them and their son.

I have been hoping this would resolve itself but realized last week when she was downright rude to my son that this will not be the outcome.