Today the Swedish Krona hit a two year high against the dollar and several Wall Street bankers, responding to the precipitous drop in the value of the dollar, suggested that the best place to invest in currency is in the Krona.
I wonder what they would say if someone told these bankers that Sweden is a welfare state where the primary role of government is to protect and promote the economic and social well-being of its citizens by maintaining an equitable distribution of wealth. Sweden's generous benefits, emphasis on maximizing labor force participation, promotion of gender equality and a significant redistribution of wealth is the envy of Europe. Access to benefits are based on residency not citizenship and all residents in Sweden are entitled to nearly all the benefits available to Swedish citizens.
The social security system is designed to ensure a minimum standard of living is based only on residence.
Health care is accessible to all residents and health and dental care is free for children under 18, adults get vouchers.
All workers are entitled to paid parental leave up to 480 days, 60 days for each parent with the rest divided up between them. Also, parents are free to take their days anytime until the child reaches the age of eight or completes his or her first year of school.
All children in Sweden are entitled to a tax free child allowance which is paid until 16 and after 16 all children in full-time education are entitled to a study allowance, with a special large family supplement paid to families with two or more children.
All residents and citizens are guaranteed a pension and Sweden invests more of its GDP to care for its elderly than any country in the world.
And guess what- in September 2011, while many US universities will be charging $50,000 per year, a university education in Sweden will be free. It's enough to make a "Tea Partite Quiver".
And Wall Street says invest in the Krona .