Trump orders creation of US sovereign wealth fund. Is he nuts?

"We're going to monetize the asset side of the U.S. balance sheet for the American people," Bessent, Treasury Secretary, said. "There'll be a combination of liquid assets, assets that we have in this country as we work to bring them out for the American people."

Sovereign wealth funds are investment initiatives of nations putting their disposable surplus wealth to work in the financial marketplace. Norway has the largest sovereign wealth fund with assets of US$1.7 trillion.

We have no surplus but are already in the hole to the tune of $36 trillion. This is the national debt side. Now, the US Government is going to gamble with the asset side: the American homeland. This is akin to a deadbeat dad gambling away the shirt on his back as well as the roof over his family.

"Scott Bessent is the founder of Key Square Group, an investment firm. Assets under management shrank from $5.1 billion in 2017 to $577 million in 2023 and the number of institutional investors declined from 180 to 20 over the same period."[Wikipedia]

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Carla · 61-69, F

Are you telling me he is throwing in the deed on a pair of sixes?

BizSuitStacy · M

@Carla no...the orange man is selling the farm for magic beans 🤪

Carla · 61-69, F

@BizSuitStacy hope he doesn't plan to plant them in California's central valley.
Magic beans need tons of water. Ask jack.

BizSuitStacy · M

@Carla Naw...ask Newscum. He's the one who let the reservoirs go dry, won't practice forest management, and calls arson global warming. But of course you deflect and step on the rake.

The topic is SWFs.

he is throwing in the deed on a pair of sixes

Wow...that sounds clever. Like you know what you're talking about. Care to explain why it's bad idea other than the fact orange man suggested it?

Carla · 61-69, F

@BizSuitStacy you are purposefully and woefully mis...disinformed about water and fires in cali. But that's typical.
When you don't have actual funds to bet, you bet other assets. We already owe more than we are worth.
What are we going to invest? And if the investment tanks, who takes possession of whatever asset or resourse that was invested.

BizSuitStacy · M

@Carla

you are purposefully and woefully mis...disinformed about water and fires in cali.

All of the evidence is right there in front of you, and you still deny it. The lack of proper forestry management is well documented and goes back many years. We saw the empty reservoirs. We saw the fire hydrants run out of water. We saw the funding cuts to the FD. We know fire fighters quit because the fascists tried forcing an experimental "vaccine" on them. Karen Bass had toes to domestic terrorists. She shut down like a frightened clam when asked basic questions. Several videos captured arsonists starting fires.

And in classic form, you revert to parroting the narrative like a trained seal.

The same people you follow are caught lying over and over and over again. And it just doesn't sink in. But that is the power of brainwashing...it makes people deny reality even when the evidence is right of them.

When you don't have actual funds to bet, you bet other assets. We already owe more than we are worth.

What other assets?

SWFs are typically funded using a budget surplus. We have a $2 trillion budget deficit right now which Musk is helping cut in half. In the meantime, I suspect Trump's plans on leveraging money collected from tariffs until they reign in the deficit spending.

Carla · 61-69, F

@BizSuitStacy any money collected from tariffs(taxes on consumers) will go directly to the promised tax cuts to trumps oligarchs and corporations.
So...money from you to go to them.
You though are fine with that prospect. Just like you are fine with musk and his merry men gaining all of everyone's personal info.

BizSuitStacy · M

@Carla yes Carla...tariffs are consumption taxes. As opposed to income taxes...the penalty for productivity.

any money collected from tariffs(taxes on consumers) will go directly to the promised tax cuts to trumps oligarchs and corporations.

Again with the leftist talking points. I'm sure Trump and his oligarch friends are going to get naked and roll around in the money.

BTW...do you have an issue with Bernie & Co. complaining about oligarchs while taking money from them?

And it's not like I don't acknowledge that republicans do it too.

Look at the other comments from some of the liberals. They think it's a good idea as long as the govt doesn't use the cash as a party fund. But it can't be good if Trump suggests it, right?