this post was submitted on 11 Jun 2024
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The fund owns 1.5% og the world traded stocks. Madness.
It looks like madness because it's something that's almost completely absent from politics around the world: thinking past the next election!
Ok, the government has this oil money what should we do with it? Give everyone tax cuts? Build giant vanity projects? Throw a year-long nation-wide party with a kilo of cocaine for every household?
Nope, let's invest it into a government owned diverse market fund so the social security of our citizens is sound for generations to come.
Took them an oil crisis (70s) to figure this out to be fair.
And it pays for public pensions. I see that as an absolute win. If there's going to be exploitation of the working class, at least let it be to care for old bums.