Everyone in Norway is now a theoretical millionaire - Polidicks

[url]http://www.reuters.com/article/2014/01/08/us-norway-millionaires-idUSBREA0710U20140108[/url] [quote]Everyone in Norway became a theoretical crown millionaire on Wednesday in a milestone for the world's biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices. Set up in 1990, the fund owns around 1 percent of the world's stocks, as well as bonds and real estate from London to Boston, making the Nordic nation an exception when others are struggling under a mountain of debts. A preliminary counter on the website of the central bank, which manages the fund, rose to 5.11 trillion crowns ($828.66 billion), fractionally more than a million times Norway's most recent official population estimate of 5,096,300. It was the first time it reached the equivalent of a million crowns each, central bank spokesman Thomas Sevang said. Not that Norwegians will be able to access or spend the money, squirreled away for a rainy day for them and future generations. Norway has resisted the temptation to splurge all the windfall since striking oil in the North Sea in 1969.[/quote]

Well, at least we can all die rich in Norway, even if you happen to be homeless and on the streets.

Huh, just 99% to go then. Seems like we're ahead of schedule.

That's a lot of money.

QUICK, PRIVATIZE, LOWER TAXES! DON'T YOU KNOW THAT YOUR SOCIALIST WAYS WILL NEVER LEAD TO PROSPERITY? COME ON YOU ARE *JUST* ABOUT TO GO BANKRUPT I AM TELLING YOU, YOU CAN STILL PREVENT IT

We should pull a Canada and spend it all on booze and maple syrup.

[QUOTE=Lizzrd;43524740]We should pull a Canada and spend it all on booze and maple syrup.[/QUOTE] or you could spend it on maple liqueur and get two for the price of one!

-snip-

[QUOTE=Awesomecaek;43524722]QUICK, PRIVATIZE, LOWER TAXES! DON'T YOU KNOW THAT YOUR SOCIALIST WAYS WILL NEVER LEAD TO PROSPERITY? COME ON YOU ARE *JUST* ABOUT TO GO BANKRUPT I AM TELLING YOU, YOU CAN STILL PREVENT IT[/QUOTE] You can do just about whatever the hell you want when you're sitting on massive deposits of oil.

What happens when the oil runs out though

[QUOTE=carcarcargo;43524905]What happens when the oil runs out though[/QUOTE] panic

[QUOTE=carcarcargo;43524905]What happens when the oil runs out though[/QUOTE] [quote] Set up in 1990, the fund owns around 1 percent of the world's stocks, as well as bonds and real estate from London to Boston, making the Nordic nation an exception when others are struggling under a mountain of debts.[/quote] .1% of the world's population owns 1% of the world's stock.

[QUOTE=carcarcargo;43524905]What happens when the oil runs out though[/QUOTE] Then they better hope they have something that can sustain them without it.

[QUOTE=carcarcargo;43524905]What happens when the oil runs out though[/QUOTE] [img]http://www.cartoonstock.com/lowres/history-oil-oil_wells-wells-running_dry-energy_crisis-vsh0468l.jpg[/img]

im gonna buy loads of theoretical stocks

[QUOTE=carcarcargo;43524905]What happens when the oil runs out though[/QUOTE] presumably nothing seeing as they don't do anything with that money/not a whole lot

[QUOTE=carcarcargo;43524905]What happens when the oil runs out though[/QUOTE] That's what the fund is for.

[QUOTE=carcarcargo;43524905]What happens when the oil runs out though[/QUOTE] I think it'll just stop growing or something, and I think there was some talk of the fund hitting its peak around 2030

[QUOTE]What happens when the oil runs out though [/QUOTE] [QUOTE=Cloak Raider;43524954]presumably nothing seeing as they don't do anything with that money/not a whole lot[/QUOTE] C'mon people, read more carefully... [QUOTE]Set up in 1990, the fund owns around 1 percent of the world's stocks, as well as bonds and real estate from London to Boston...[/QUOTE]

Made me think of this [IMG]http://farm4.staticflickr.com/3018/2394166161_dd2890a4c2_o.jpg[/IMG]

You better hurry up and sell all those oil drilling rights to China like we did It's why we're so prosperous and Norway is suffering ... can someone just put canada out of its misery please

[QUOTE=sgman91;43524898]You can do just about whatever the hell you want when you're sitting on massive deposits of oil.[/QUOTE] Yeah, for instance [QUOTE=Zeke129;43525121]You better hurry up and sell all those oil drilling rights to China like we did It's why we're so prosperous and Norway is suffering ... can someone just put canada out of its misery please[/QUOTE] . To some people (I don't mean Zeke now), the idea of government - which basically means public - ownership of things, as well as public holding [I]shared[/I] wealth, which is kept up to grow and be available in case of need, is completely alien and unacceptable.

And I'm still as poor as a church-rat

[QUOTE=Awesomecaek;43524722]QUICK, PRIVATIZE, LOWER TAXES! DON'T YOU KNOW THAT YOUR SOCIALIST WAYS WILL NEVER LEAD TO PROSPERITY? COME ON YOU ARE *JUST* ABOUT TO GO BANKRUPT I AM TELLING YOU, YOU CAN STILL PREVENT IT[/QUOTE] BUT PRIVATE SECTOR CAN DOES BETTER!, THE GUYS ON FOX NEWS SAY SO

Where's mac338 when you need him?!

And im still on minimum wage

[QUOTE=BandClassHAH;43525826]Where's mac338 when you need him?![/QUOTE] Diving in his moneybin

I am theoretically jealous.

[QUOTE=CrucialSeBBi;43525855]And im still on minimum wage[/QUOTE] Isn't the minimum wage really high? I know it is in Denmark, and the prices in Norway are even higher.

I actually don't think we have a minimum wage, but generally speaking I don't think any job would pay any less than say $30 000