Welcome to the discussion of US Politics!
Rules:
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
For once I agree with what Trump did there, which goes to show that even a broken clock can be correct twice a day.
Having said that, I have zero doubt that the fund will be mismanaged and used by wealthy fuckers to enrich themselves, rather than managed sensibly like the Norwegians manage theirs with the interests of the population in mind.
Norwegians have a sovereign fund because they aren't in debt. Where is they money coming from when Trump added $7.8 Trillion in addition debt the last time he was president?
If the sovereign fund makes money then it's a good investment regardless of whether the country is in debt.
Of course, it needs to make more money than it costs to service the extra debt, if they're going to borrow to constitute it.
That's assuming the broligarchs don't embezzle the money of course...
Borrowing money to fill an investment fund will never work. Because if the investment fund is going to make more money than the interest on the loan costs, the lender would just do their own fund themselves and not lend money to someone else to do it.
That's not quite true. If you're better than the market, you can borrow until the market price for money (interest rate) adjusts (you become the market) and make money off of it. The thing just happens to be, governments aren't usually in the being-more-efficient-than-the-market game, so, yes, countries should never do that.
Investment will equal "having a vested interest in its success". If the government has a vested interest in the success of one company over another how is that a level playing field? If a law is in the way of a government investment, the government can simply change the law and the company benefits. That wouldn't happen for the competitor to the government invested company.
Think how this can be used by the trump government. trump directs the US taxpayers money to be invested in Twitter or another musk controlled company. You, as a taxpayer, have no say. Twitter issues additional rounds of stock raking in money, but devaluing the existing stock.
If the sovereign fund makes money then it’s a good investment regardless of whether the country is in debt.
Musk gives himself a raise from your tax money. trump could force all government agencies to use Twitter as the only official communication method. Now you have to look at ads to find out how to file your tax forms or renew your passport. The government would have a vested interest in Twitter financial success as a partial owner of it.
Is this what you want?
I'd honestly give a 50/50 chance that it'll solely be used to pump Trump investments and then dump the loss on the American people.
Is there anyone here who thinks the fund wouldn't own Trump coin or whatever his next shitcoin venture is?
New mutual fund established tracking all of these investments. Invest today! Ticker symbol: RGPL /s
If anyone isn't paying attention they are basically putting a gun to everyone's wallet to make them buy crypto.
I wouldn't be surprised if half of this is solely to pump crypto.
This makes no sense when you issue sovereign bonds, and they are the most desirable investment vehicle in the history of the world.
Nobody is going to buy bonds backed by SPY when they could just buy SPY.
Elon will steal that sovereign fund through DOGE
Jesus fucking Christ. He is trying to literally create state-run media. He's trying to turn Tiktok into Pravda.
They are preparing for the dollar to be worth nothing