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Utopia Talk / Politics / US sovereign wealth fund
Habebe
Member
Thu Mar 25 09:54:16
I thinks it's long past time.

Yes Jergul, your country did good, take it as a win.

Norway, China, Singapore, thr UAE, Saudi Arabia....etc.

Have all had success with them. We have a super robust financial sector. Im sure we could have a great team to lead it, plus it had to succeed, we lie, we cheat, we steal and probably insider trade....but for the greater good.

Deficit spending is reaching a point.
jergul
large member
Thu Mar 25 10:12:26
habebe
Put it in the next stimulous bill. 1 trillion dollars to buy stocks globally.

Why not? Federal debt is still free.
Habebe
Member
Thu Mar 25 10:27:16
Im sure we have speny More money on worse endeavors ( f-35).

Set some basic rules. Leave it untouched to grow for 10 years, then harvest xx% of the interest.
Rugian
Member
Thu Mar 25 11:16:56
This should be a state-level thing a la the Alaska fund, but sure.
jergul
large member
Thu Mar 25 11:29:36
Once the fund reaches 70 trillion dollars, you can use 3% of it cover federal debt interest payments.
Rugian
Member
Thu Mar 25 11:37:12
^jergul just identified two huge problems with a national fund. Well done jergul.

1. A national fund for the world's greatest economic superpower would be too large and its investment decisions would have an outsize effect on global markets.

2. Who would actually be in charge of the thing? Oh yeah the same people who are currently in charge of federal spending decisions. Nancy Pelosi would have control over spending decisions, and the fund trustees would be appointed by President Harris.

Are you mad to want that habebe?!!
Habebe
Member
Thu Mar 25 11:46:26
1. That's cool.

2. Again it would have to function uniquely, politicians should not be allowed to interfere with it at whim.
Rugian
Member
Thu Mar 25 11:54:30
"2. Again it would have to function uniquely, politicians should not be allowed to interfere with it at whim."

Sure. I'm sure the Pelosi House, which would be in charge of the legislation establishing such a fund, would take that into consideration when drafting the bill.

Face it. You create this thing, and within five years America's oil revenues would be going towards making investments in stocks for companies run by trans POC genderqueer seniors.
jergul
large member
Thu Mar 25 11:56:39
Oil revenue? That is not realistic. Play to your strengths. Leverage access to cheap financing, take up debt and put it into the Sovereign fund.
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