Yeah. I get it. I’m just …speechless. This sounds like a prelude to jailing dissidents in overseas prison hell holes. So I repeat…Umm. What?
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The cockroach agency objects to light:
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They’re usually used when governments want to invest surplus income (typically from oil) for using in the future. Norway, Abu Dhabi and Saudi Arabia being good examples. But it’s pretty unusual for a sovereign wealth fund to be set up when a government is already running a huge deficit. They would need to borrow money in order to invest it so the investments would need to have better returns than Treasury Bills, and the more Treasury Bills that they sell in order to provide initial funding for a sovereign wealth fund the higher the interest rates that the government would need to pay. Yeah, that could potentially be done, but there are so, so many ways it can go wrong. Too many issues to try and spell out right now.
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Ah, fair enough, though I retain my objection to the “sovereign wealth fund” for the US because at the very least it makes no fucking sense for a country running a deficit. (Also, that the idea has been brought up purely to buy Tiktok, so that Trump’s contributor who invested in it can get his payout…)
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Oh, there are very good reasons why this specific suggestion of a Sovereign Wealth Fund is a mindblowingly stupid idea, but the concept itself is just “hey, we’ve got all this extra money lying around, what should we do with it?”.
I mean, ideally it’s “… lying around, and it’s not possible for us to spend it fast enough, …”, because the point of a government is to invest in the nation and its people, so any surplus is money that didn’t go into BAU, subsidies, benefits, tax cuts, or infrastructure. For Norway, this is because they couldn’t spend the North Sea Oil money as fast as it was coming in. For Australia, this is because the Turnbull Liberal government had just privatised the national telecommunications network, and wanted to launder the money directly into porkbarrelling, with sinecures for ex-politicians in the management of it all.
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I honestly believe it is an overlap of convenience. In the main they have no morals or politics other than those adopted that favour their business interests. Those business interests will predispose them to the right, of course, but Thiel and Musk are more outliers than typical, when it comes to full-on christo-fascist right-wing fuckduggery.
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How very Putinesque. No wonder the orange toddler admires him so much.
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Trump, the 4D chess master.
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In the letter sent on Friday, the organization explained its board members resigned to comply with the recent executive order on LGBTQ rights
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Much Ado About Nothing. They caused a stir in the financial market,a crash in the stock markets and nothing changed.
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But in the hands of Fuckface von Clownstick it will be both weird and corrupt.
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Leopards everywhere…
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