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That rainy day kitty is known as taxation.
by ttul 7y ago
That rainy day kitty is known as taxation.
- mistermann 7y agoTaxation is the skim. A secure (protected from "borrowing, just this one time, I promise, don't worry I'll put this fancy piece of paper in the box as a replacement") kitty containing these funds, is something else entirely.
- ttul 7y agoNorway provides ample guidance here. They have what, a trillion dollar sovereign wealth fund, invested exclusively in non-Norwegian assets, locked away for the rainy day when oil runs out or becomes valueless. That day may now be upon them.
- mistermann 7y agoIt's easier to do when you have massive oil reserves and a small population, however, Norway has done an absolutely top notch job imho. I 100% agree with you that we should be looking, and very closely, at Norway and any other countries whose policies in any area seem to be working exceptionally well. I wonder if doing that would be considered a loss of face in some way.