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I just commented a moment ago mentioning Norway. I believe such a fund is a promising idea so long as it is managed in such a way that no politician or politica
by Proziam 6y ago
I just commented a moment ago mentioning Norway. I believe such a fund is a promising idea so long as it is managed in such a way that no politician or political organization could raid it.
If the US had a wealth fund instead of a national debt I believe many of the biggest issues we face could be legitimately solved rather than turned into political footballs.
- jandrewrogers 6y agoThis doesn't work at the scale of the US. Where would you find sufficient investable assets? A sovereign wealth fund similar to Norway in the US would contain a large fraction of all wealth globally. Scarcity of investable assets is already a problem. Increasing demand by $50-100T will make it worse. Part of the reason the US issues trillions in debt is to absorb some of the existing demand.
- Proziam 6y ago> Where would you find sufficient investable assets? The land itself, all of the resources in and on it, the industries that operate within the borders, etc. We don't necessarily need to set aside 200k per capita, but it would be wise to not be at -70k per capita and growing fast, in my opinion. > A sovereign wealth fund similar to Norway in the US would contain a large fraction of all wealth globally. If the rest of the world operated on similar principles we would inevitably reach a balance. Regardless, the US would have to clear an enormous sum of debt before we could realistically start filling up the piggy bank.
- disgruntledphd2 6y agoThe US's national debt is someone else's wealth fund. To be fair, having the world reserve currency is sortof like a wealth fund.