I have posted on how Latvia runs a massive current account deficit - which is unsustainable and unable to be repaid.
It is funded on Swedbank's tab - and as a result I believe Swedbank is near insolvent.
Anyway - lets just put the current account deficit figures for Latvia up on public display. I got these from Swedbank's own second quarter factsheet.
Over the forcast period Latvia looks to be borrowing nearly a year's GDP! That is in a country which is clearly in some economic difficulty right now!
These current account deficit figures (which are insanely large) come from Swedbank itself.
And Swedbank funds it.
PS. To all the new readers - welcome.
The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author. In particular this blog is not directed for investment purposes at US Persons.