All good points, but sovereign wealth funds in the countries in which they operate well are typically a nationalized retirement program and by definition on beh

All good points, but sovereign wealth funds in the countries in which they operate well are typically a nationalized retirement program and by definition on behalf of the citizenry: countries like the us that instead fund social security through taxes and a reliance on population growth have pretty different systems. I do not believe the us could or would run a successful sovereign wealth fund: it’s a vastly more complex economy with attendant legal regulatory and social challenges than the countries where sovereign wealth funds have been most successful: Singapore (tiny, nearly a benevolent dictatorship), the nords - oil or drug wealth with small very homogenous communities - Saudi : a strong royal family. In contrast the US economy and legal system fully bake the neoliberal economic viewpoint into our institutions: we are a country that outsources almost everything including everything financial to the private sector. To me it’s just extremely unlikely that a system like that would work. Sadly because if my social security payments over the years had gone to temasek I would have done quite well..