Norway's sovereign wealth fund hits $1 trillion value for the first time - Sensationalist Headlines

[url]https://www.wsj.com/articles/norways-sovereign-wealth-fund-hits-1-trillion-value-for-first-time-1505810018[/url] [quote]The value of Norway’s sovereign-wealth fund hit $1 trillion on Tuesday, powered by strong growth in stocks and the falling dollar. “On Tuesday 19 September 2017 at 02:01 CET, the fund value hit $1,000,000,000,000, or 1 trillion dollar, for the first time,” it said. The fund, the world’s largest, had a rapid increase in 2017 following a strengthening of the world’s major currencies against the U.S. dollar, combined with strong equity markets, the bank said. “Reaching 1 trillion dollars is a milestone, and the growth in the fund’s market value has been stunning,” said Yngve Slyngstad, Chief Executive of Norges Bank Investment Management, the arm of the central bank that manages the fund. The fund—commonly referred to as the oil fund—was established to safeguard the country’s oil and gas savings, giving the government room for maneuver in fiscal policy should oil prices drop or the mainland economy contract.[/quote]

So this is actually less about Norway getting [sp]even more than they already are[/sp] crazy rich, and more Norway's riches being in non-US-dollars, and the US dollar dropping below a threshold which makes the equivalent value of Norway's big ol' fund more than a trillion dollar?

Norway seems to be one of the very few countries that actually knows how to manage wealth from natural resources for the long term and using it to support, not detract from other economy. Contrary examples would be Libya and Venezuela that used oil money to buy support to incompetent leadership and are in shambles. Then there's UAE, which seems to be investing into real estate bubble like there's no tomorrow.

[QUOTE=Riller;52696283]So this is actually less about Norway getting [sp]even more than they already are[/sp] crazy rich, and more Norway's riches being in non-US-dollars, and the US dollar dropping below a threshold which makes the equivalent value of Norway's big ol' fund more than a trillion dollar?[/QUOTE] Pretty much. Doesn't change the fact it's a fucking huge amount of dosh though.

[QUOTE=download;52696296]Pretty much. Doesn't change the fact it's a fucking huge amount of dosh though.[/QUOTE] Oh totally, Norway is an absurdly rich nation. I just find it funny that what this article essentially says is that Norway hasn't gotten richer, the U.S. has just gotten so much poorer that Norway crossed a milestone in comparison.

[QUOTE=Riller;52696330]Oh totally, Norway is an absurdly rich nation. I just find it funny that what this article essentially says is that Norway hasn't gotten richer, the U.S. has just gotten so much poorer that Norway crossed a milestone in comparison.[/QUOTE] Well buying power is all that matters and Norway now has more of it.

I'd like to cash out now, thank you.

[QUOTE=farmatyr;52696416]I'd like to cash out now, thank you.[/QUOTE] And then, bearded men with cod fish for weapons brrak your legs.

that's a lot in fish

how much Nugatti can I buy with that [editline]19th September 2017[/editline] actually fuck that how much liver paste can I buy with that

Hey old buddy! What do you say about getting that old Kalmar Union back together?

The GOAT.

[QUOTE=farmatyr;52696416]I'd like to cash out now, thank you.[/QUOTE] [media]https://www.youtube.com/watch?v=WNxHUfGc3gE[/media] [highlight](User was banned for this post ("Reaction video - HAHA VIDEO GAME LETS PLAY REFERENCE!" - Reagy))[/highlight]

Wow, Norway could probably buy 2 cucumbers and 500g of butter for that money. Maybe they'll even throw in a beer.

[QUOTE=GoDong-DK;52696654]Wow, Norway could probably buy 2 cucumbers and 500g of butter for that money. Maybe they'll even throw in a beer.[/QUOTE] Only if they even have butter to begin with.

[QUOTE=PrusseLusken;52696642]worth noting that the "oil fund" has no direct connection to funding of anything. nursing and healthcare is getting underfunded, our military is pretty much running on fumes, and taxes and costs of living are going up while our salaries are the same as ten years ago. purchasing power is becoming absurd. i pay much more in groceries today than i did just a year ago while i make the same amount of money each month. protip, kiddos: don't use the oil industry as your sole backup, because salmon and arts sure as shit won't keep us going when oil's gone.[/QUOTE] After Høyre(blue/right) party came to power, there have also been cuts to arts and entertainment. As a musician, me and most of my musician friends work extra jobs just to be able to play. Just everything in general seems the get budget cuts. While our roads are still crap, housing is expensive etc.

[QUOTE=Thaard;52696820]After Høyre(blue/right) party came to power, there have also been cuts to arts and entertainment. As a musician, me and most of my musician friends work extra jobs just to be able to play. Just everything in general seems the get budget cuts. While our roads are still crap, housing is expensive etc.[/QUOTE] fuck them man, wanna know what else Høyre did, they put a limit on absence in highschool. Wait till you see the amount of younger people going to the doctor, getting medication or turn to hard drugs for medication. (Education pressure was already high in Norway, we didn't need this)