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A lot of things are easier if the state owns a fund valued at approximately 2000 billion dollars and you only have to share that between ~5 million people. [0]
by KSteffensen 5y ago
A lot of things are easier if the state owns a fund valued at approximately 2000 billion dollars and you only have to share that between ~5 million people. [0]
It's a crazy amount of money. In 2017 that fund owned 1.38% of the global stocks. I heard at some point they had trouble because they couldn't use the money to build roads or whatever without affecting the global economy.
[0]: https://www.nbim.no/ https://www.nbim.no/
- eloff 5y agoThat helps, no question. But the causality is the wrong way around. Norway had that fund in the first place because they are a sensible country that made good decisions. Their government clearly functions at a level the US today can only dream of - where they can barely agree on not shutting down every time they near the debt limit. Here in Canada we're maybe a little better off, but not close to Norway.