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Henrik Landerholm fälls av Svea Hovrätt.

oktober 19, 2026

Förre nationella säkerhetsrådgivaren Henrik Landerholm fälls för vårdslöshet med hemlig uppgift och döms till dagsböter. ”Det måste ställas höga krav på den som hanterar handlingar med säkerhetskänsliga uppgifter. Den enda rimliga förklaringen till att mannen lämnat kvar handlingarna är att han slarvat betydligt när han tömt det värdefack som han förvarat dem i”, säger hovrättsrådet Håkan Sellman i ett pressmeddelande. ”Med hänsyn till bland annat hans ställning som nationell säkerhetsrådgivare och till hans långa erfarenhet av höga statliga befattningar – som enligt honom gett en stor vana av att hantera hemliga uppgifter – anser hovrätten att han har varit grovt oaktsam.” Landerholm döms till 80 dagsböter på 650 kr, totalt 52.000 kronor. DI/TT : 19 oktober 2026 https://www.di.se/nyheter/henrik-landerholm-falls-i-hovratten/ Regeringskansliet polisanmälde dock aldrig händelsen. Men efter att Dagens Nyheter rapporterat om andra tillfällen då Henrik Landerholm glömt saker, publicerade La...

19 oktober. Generalrepetition för en sprickande AI-bubbla. Landereholm x 2. Macron talar.

oktober 19, 2026

France has some problems the U.S. does not. The first is that it has limited capacity to grow itself out of debt trouble — the French economy grew just 0.9% last year and is projected by the International Monetary Fund to grow just 0.5% this year. France’s private sector is heavily indebted. The combined household and nonfinancial corporate debt-to-GDP ratio is some 3 times, compared with about 1.5 for the U.S. Steve Goldstein MarketWatch Oct. 19, 2026 https://www.marketwatch.com/story/france-and-the-u-s-share-the-same-debt-trap-only-one-has-a-global-lifeline-3ae61b42 https://englundmacro.blogspot.com/2026/10/frankrike.html Demonstrations were banned in Marseille on Monday, and Prime Minister Sébastien Lecornu called on regional authorities to impose curfews where needed. The protests drew more than half a million people on Saturday across the country, but what started out as peaceful demonstration soon deteriorated, with some 2,397 people arrested on Saturday. https://www.bloombe...

Alice Landerholm

oktober 19, 2026

I riksdagens kammarfoajé står Moderaternas partisekreterare Karin Enström och pratar med sin brorsdotter. Brorsdottern, Alice Landerholm, har precis blivit invald i riksdagen, som ersättare för statsminister Ulf Kristersson (M). 23-åringen som nu tagit plats på Sörmlandsbänken väntas bli vald till nästa ordförande för Moderata ungdomsförbundet, Muf, i samband med stämman i november. Då tar hon också plats i Moderaternas partistyrelse. Mamma Ann Landerholm är tidigare moderat kommunalråd i Strängnäs. Pappa Henrik Landerholm har en lång bakgrund inom Moderaterna, är barndomsvän till statsministern – och blev rikskänd när han tvingades avgå som nationell säkerhetsrådgivare. Etezaz Yousuf. SvD 2026-10-17 Fotograf: Harald Tydén. https://www.svd.se/a/kvvMKv/alice-landerholm-om-muf-striden-jag-definieras-inte-av-min-familj Henrik Landerholm avgick i januari 2025 och friades i tingsrätten från åtalet om vårdslöshet med hemlig uppgift. Åklagarsidan har dock överklagat, och Svea...

Förra veckan en livlig och nyttig generalrepetition för hur en sprickande AI-bubbla skulle kunna se ut.

oktober 19, 2026

Till att börja med fick vi en antydan om vad som sannolikt kommer att ligga bakom: inte svag ekonomi, nte en utbränd säkring i någon gåtfull del av det finansiella ledningsnätet, utan vibes. Det var det som egentligen gjorde skadan den här veckan. Varje investerare på planeten känner till problemen här. Vi har en högt koncentrerad global aktiemarknad som rullar vidare nästan helt och hållet på avgaserna av spekulativ entusiasm kring detta enda stora Ai-tema. Vi har skrämmande höga upplåningsnivåer, ofta kryddade med tämligen kreativa metoder att knuffa hävstångseffekter utanför balansräkningarna och in på platser där kreditvärderingsinstitut och investerare har svårt att upptäcka dem. Fortfarande vet ingen om det hela kan tjäna tillräckligt med pengar för att betala räkningarna när de förfaller. Allt detta vet vi. Och vi vet att de globala finansiella marknaderna är sårbara om något går fel. Allt detta gällde lika mycket för några månader sedan ...

Frankrike

oktober 18, 2026

Upplopp bröt ut i Paris, Marseille och andra franska städer under lördagen, samtidigt som polisen kämpade för att stoppa plundring av butiker och attacker mot byggnader. Detta skedde efter att omfattande demonstrationer urartat i ett av de värsta fallen av gatuvåld på flera år. Tidigare under lördagen deltog över en halv miljon människor i till stor del fredliga protester runt om i landet. Missnöjet växer över de höga levnadskostnaderna i Frankrike, samtidigt som studenter riktar kritik mot brister inom utbildningssystemet. Financial Times 18 October 2026 https://www.ft.com/content/bcb6c27a-f082-4867-ade4-ae6eb757b780?syn-25a6b1a6=1 France was reeling on Sunday from a night of riots after peaceful protests were overtaken by what officials called “unprecedented” levels of violence and ransacking of stores and urban landmarks in major cities. At least 1,800 people have been arrested so far nationwide, the interior ministry said on Sunday, with 855 in Paris alone, which a police offi...

17 oktober. World War III. AI Meet Cash Flow Reality. Ström till alla datacenters. Gillian Tett.

oktober 17, 2026

Are we sleepwalking into World War III? https://englundmacro.blogspot.com/2026/10/are-we-sleepwalking-into-world-war-iii.html When Will AI Meet Cash Flow Reality? https://englundmacro.blogspot.com/2026/10/when-will-ai-meet-cash-flow-reality.html Jag frågade Claude om det kommer att finnas ström till alla datacenters som ska byggas. https://englundmacro.blogspot.com/2026/10/jag-fragade-claude-om-det-kommer-att.html Gillian Tett https://englundmacro.blogspot.com/2026/10/gillian-tett.html Personer https://englundmacro.blogspot.com/search/label/Personer Dagen innan https://englundmacro.blogspot.com/2026/10/16-oktober-abdulmalik-al-houthi.html

Gillian Tett

oktober 17, 2026

Gillian Tett - en av mina Gurus Tett’s past roles at the FT have included US managing editor, assistant editor, capital markets editor, deputy editor of the Lex column, Tokyo bureau chief, and a reporter in Russia and Brussels. https://englundmacro.blogspot.com/2020/07/gillian-tett-en-av-mina-gurus.html Gillian Tett hos Internetional https://internetional.se/tett.htm Two decades ago, I discovered the signalling power of credit default swaps. When the price of derivatives rises, this shows that investors are worrying that borrowers will go bust. Back then, one hint of the trouble to come was that CDS prices for mortgage bonds and banks rose — despite the cheer in equity markets. That was a proverbial canary in the coal mine. Is the same thing happening again today? Quite possibly. On Thursday August 9 2007, financial markets suddenly seized up. Since I was running the Financial Times markets team, I spent two days frantically trying to identify the reason for the panic. Nobody knew. But...

MBS ?

oktober 17, 2026

Mohammed bin Salman has led Saudi Arabia for about a decade, but the next few months will be his greatest challenge yet. The airport attack by the Houthis undercut one of the pillars of the bargain that MBS has offered his people, which includes security, prosperity and reform. MBS must somehow shore up faith in his promise to build a modern, secure and respected nation, as delivering security and prosperity is getting more difficult. Bloomberg 16 October 2026 https://www.bloomberg.com/opinion/articles/2026-10-16/saudi-arabia-mohammed-bin-salman-is-facing-his-greatest-challenge Houthis https://englundmacro.blogspot.com/2026/10/houthis.html

When Will AI Meet Cash Flow Reality?

oktober 17, 2026

The cash flow return numbers we see from the AI companies in their investment presentations as they seek literally hundreds of billions of dollars of financing are possible for any one given company, but they are not possible in the aggregate. There will be losers. At some point, the market is going to realize that those outsized investments have to have outsized returns in order to be able to justify them. The Internet changed things far more than even most of the most enthusiastic proponents believed. I remember being skeptical of Amazon in the early 2000s. I was clearly wrong, but it took the stock price a little while to demonstrate the potential growth. And nobody was talking about a company that would be worth $2.7 trillion in 25 years. I do believe that there will be companies in 25 years that will see a 300,000% increase. We just don’t know which ones, and it wouldn’t surprise me for it to be a new startup company that is not yet on our collective radar. Open AI, whose IPO...

Are we sleepwalking into World War III?

oktober 17, 2026

In the famous televised confrontation with Volodymyr Zelenskyy in February 2025, Donald Trump accused the Ukrainian president of “gambling with World War III”. Trump believed then — and probably still believes now — that western support for Ukraine risked dragging the US into a war with Russia. Gideon Rachman Financial Times The Weekend Essay 17 October 2026 https://www.ft.com/content/3a56575e-ecfb-4fa9-af70-01aebd869729?syn-25a6b1a6=1 Gideon Rachman is the FT’s chief foreign affairs commentator. How Cold War II Could Turn Into World War III The Persian empire is now the Islamic Republic of Iran; one might say the Holy Roman Empire has been reincarnated in the form of the European Union, at once extensive, German-centered and weak. It is not civilizations that clash, but empires. https://englundmacro.blogspot.com/2022/10/how-cold-war-ii-could-turn-into-world.html Det österrikisk-ungerska ultimatumet formulerades av baron Musulin von Gurmirje, en jämförelsevis jun...

Jag frågade Claude om det kommer att finnas ström till alla datacenters som ska byggas.

oktober 17, 2026

Probably not everywhere, and not as fast as the industry wants. Power is already the main constraint on AI buildout. Demand is surging. Gartner projects global data center electricity use will reach 565 TWh in 2026, up 26% from 447 TWh in 2025. It expects power demand to climb from 132 GW this year to about 290 GW by 2030. Supply plans fall short. Gartner says current utility grid supply plans are insufficient for the projected data center construction. Its analyst says AI capacity is now constrained by power availability. The bottleneck is delivery, not generation. S&P Global argues that the biggest barrier is a lack of transmission and substation capacity, not a shortage of power generation. Transformers, lines, and permitting move far slower than chip production. Costs and politics. Uptime Institute expects power costs to rise in tier-one markets, developers to move to second-tier locations, and data centers possibly to be required to join demand-response programs...

IMF: The global economy is betting the house on artificial intelligence.

oktober 16, 2026

That bet has paid off handsomely so far. But the scale of the boom—and its expanding reach into more economies—is seeding new worries about the global consequences if the AI mania ends. It probably won’t just be stock investors that get burned if boom turns to bust, the International Monetary Fund said. The world could be looking at a sharp pullback in growth that hits both rich and poor countries alike, according to one scenario included in the fund’s fall projections. The scenario wasn’t a forecast. Even if a crash can be avoided or managed, powerful AI-assisted cyberattacks on banks and other financial institutions represent a new threat to the stability of the global financial system, the IMF warned. In the U.S., the money spent on data centers and related infrastructure is expected to top more than $10 trillion in the seven years through 2032. “I’d say the advent of this new technology is probably the most consequential change to the U.S. and the global economy in...

EUs dråpslag mot Stegra och SSAB.

oktober 16, 2026

Germany and France are joining forces to scrap a landmark European Union goal to reach climate neutrality for cars by 2035 to protect their domestic industries. The two countries will lobby for a significant watering down of a key pillar of the EU’s green deal to reach net-zero by 2050, including lowering overall emissions cuts for autos to 90% by 2035. Paris and Berlin will push to lower overall emissions cuts for autos to 90% by 2035, without having to compensate the remaining 10% through offsets via green steel and renewable fuels If agreed by EU legislators, the Franco-German deal would mean the goal of reaching climate neutrality in cars no longer exists. Bloomberg 16 October 2026 https://www.bloomberg.com/news/articles/2026-10-16/france-germany-reach-deal-on-future-of-european-auto-industry EUs dråpslag mot Stegra och SSAB Stegra och SSAB har satsat hundratals miljarder på att kol ska bli dyrt och fossilfritt stål lönsamt. Nu pekar mycket på att EU mildrar utsläppskraven för...

16 oktober. Abdulmalik al-Houthi. OMXSPI stängde upp 1,1 procent. EUs dråpslag mot Stegra och SSAB. De amerikanska börserna avslutade veckan tungt nedåt

oktober 16, 2026

Abdulmalik al-Houthi saying that Riyadh’s ties with Washington — and by extension Israel — made it an unworthy custodian of Mecca, suggesting Yemenis would be better placed to guard Islam’s holiest city. “We are also the most devoted to Mecca and the Ka’bah, and the ones most entitled to support and defend them, rather than the treacherous, proxy Saudi regime,” he said. https://englundmacro.blogspot.com/2026/10/houthis.html IMF: The global economy is betting the house on artificial intelligence. https://englundmacro.blogspot.com/2026/10/imf-global-economy-is-betting-house-on.htm l De amerikanska börserna avslutade veckan tungt nedåt efter fortsatt AI-oro och ett stigande oljepris. Oljepriset steg med närmare 4 procent under fredagskvällen och Brentoljan handlades som högst till 109,9 dollar per fat – vilket innebar den högsta nivån sedan i maj. https://www.di.se/live/hogt-oljepris-och-ai-oro-sankte-wall-street/ The stock market has already crashed Even with the S&P 500 r...

John Authers. The Cleveland Fed’s trimmed mean. Justin Fox: The Myth of the Rational Market.

oktober 16, 2026

The Cleveland Fed’s trimmed mean (stripping out the greatest outliers in either direction) is stuck above 2% and is moving in the wrong direction. Try my colleague Justin Fox’s revised and re-released The Myth of the Rational Market. https://www.amazon.com/dp/0060598999?lv=shuf&channelId=500&plpRedirect=mhFallback This is my review of the book from 2009, before we were colleagues. https://www.ft.com/content/08bc21d8-5395-11de-be08-00144feabdc0 John Authers Bloomberg 15 October 2026 https://www.bloomberg.com/opinion/newsletters/2026-10-15/hot-inflation-isn-t-playing-along-with-trump

15 oktober. Börsras i Tokyo och Seoul. Temu Range Rover Britain’s top-selling new car. Herman Ohlsson: raset ser ut som ett köpläge. Bank of America. Houthis.

oktober 15, 2026

Shares of Bank of America sank into a bear market Wednesday, as the banking giant followed news of a massive government fine with earnings that missed expectations, citing weakness in its investment banking and trading businesses. Investors had already braced for the worst, after the U.S. Treasury Department said late Tuesday it was imposing penalties of more than $1.21 billion against Bank of America for violations of anti-money-laundering laws. MarketWatch 14 October 2026 https://www.marketwatch.com/story/bank-of-america-adds-a-profit-miss-to-the-misery-of-a-1-2-billion-government-fine-d4420bfa RE: 12 miljarder kronor i böter är mycket. https://www.bloomberg.com/news/articles/2026-10-15/zara-billionaire-owner-ortega-buys-550-million-chicago-tower De amerikanska börserna vände upp över nollstrecket. https://www.di.se/live/ai-frossan-lindrades-wall-street-vande-till-gront/ Stockholmsbörsen stängde ned på torsdagen. Rapporterande Nordea föll kraftigt medan Ericssons rapport ...