Leif Pagrotsky on the Riksbanken’s Intervention
Question: What led to the Riksbanken’s decision to cut interest rates?
Pagrotsky: Until a few months ago, we had a problem of rising inflation expectations among the Swedish public, and decision makers in the business community were preparing for higher inflation, wage negotiations were preparing for higher inflation, and the economy was perhaps set for a higher level of inflation, so the Central Bank reacted by raising the interest rates to demonstrate to the economic agents in the country that this was not to be tolerated, but what has happened now is that international prices have come down. The oil price is down $100 in a few months, and the raw material prices, food prices are on the way down. It’s a totally different situation. The impulses that produce inflationary expectations in my country are not longer there. The board of directors in the Central Bank took notice of this. They said now the threat of inflation is gone, the economy is in a very sharp fall, and there is instead now possibilities of very, very low inflation, so there’s no need to have a higher interest rate anymore, so they made a totally different assessment, and that has, after having cut interest rates by another 100 bases points about a month ago, another 175 today was [welcomed] and I think a well motivated step.
Sharply decreasing inflation led to the biggest interest rate cut in the Swedish central bank’s history, explains Leif Pagrotsky.
The Bajau people's nomadic lifestyle has given them remarkable adaptions, enabling them to stay underwater for unbelievable periods of time. Their lifestyle, however, is quickly disappearing.
- The Bajau people travel in small flotillas throughout the Phillipines, Malaysia, and Indonesia, hunting fish underwater for food.
- Over the years, practicing this lifestyle has given the Bajau unique adaptations to swimming underwater. Many find it straightforward to dive up to 13 minutes 200 feet below the surface of the ocean.
- Unfortunately, many disparate factors are erasing the traditional Bajau way of life.
Some evidence attributes a certain neurological phenomenon to a near death experience.
Time of death is considered when a person has gone into cardiac arrest. This is the cessation of the electrical impulse that drive the heartbeat. As a result, the heart locks up. The moment the heart stops is considered time of death. But does death overtake our mind immediately afterward or does it slowly creep in?
An innovation may lead to lifelike evolving machines.
- Scientists at Cornell University devise a material with 3 key traits of life.
- The goal for the researchers is not to create life but lifelike machines.
- The researchers were able to program metabolism into the material's DNA.
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