Skip to comments.In Norway, everyone is now a millionaire, thanks to oil
Posted on 01/09/2014 2:52:10 PM PST by TurboZamboni
Everyone in Norway became a theoretical millionaire on Wednesday in a milestone for the world's biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices. 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. 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.
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Just allow me to buy a pound or two of Nokkelost and I’ll be happy.
Most deceptive title of the year so far, since Norwegian citizens’ own personal net worth has nothing to do with capital sitting in a “sovereign” wealth fund”.
To test, just try to write a check to your aunt tillie for “your portion” of the fund.
The world’s financial elites control sovereign wealth funds, i.e., where they are invested - and certainly whether investment income is reinvested or spent - and what it is spent on, since those same financial elites control politicians much more than Sven Q. Public does.
Ok, MAYBE you could throw a car in there and two tanks of gas.
You can live in a theoretical mansion, drive a theoretical Ferrari GTO, date different beautiful theoretical women every night (in addition to your beautiful theoretic wife). You can eat every meal in theoretical 5-star restaurants (until you have to go on that theoretical no starch diet to get rid of your theoretic blubber butt).
Believe me when I say that being a real person with nothing but faith in the REAL you know Who is better than all that theoretical living.
I'd rather live in a cell in a monastery than the grandest apartment in NYC (as long as the monastery lets me bring by cats).
I'm working on my SECOND million right now.
Gave up on the first when it didn't materialize,.
The same logic could be used to say the citizens of the old Soviet Union were wealthy because of all the capital and land that was publicly owned. Never saw a dime of it.
Norway really needs to put some of this money to use to increase their fertility and desire to have children. Imagine a country where parents anticipated having half a dozen children, and looked forward to the prospect.
This is a lot harder than it sounds, but it is possible.
Oh, Norway! Norway! How I long for the old country! Your fjords are in my blood! I feel your snow-capped mountains in my bones! How about sending me some money you tightwad herring hashers?
Well I know all the words to A-ha's "Take on Me" and Ylvis' "What Does the Fox Say?", so I think that should qualify me as an "Honorary Norwegian."
But the government will keep it in trust for you citizen. Meanwhile keep living in the streets or wherever.
To qualify as an Honorary Norwegian, you only have to answer “Yes” to these three questions.
1. I would rather eat fish soaked in lye so long that it goes down your throat like the junk in your sinuses when you have a cold and tilt your head back (I got in trouble for writing about snot on Free Republic so I don’t use the word snot anymore) than to eat a good steak.
2. I have been so drunk that I started out to walk over to the neighbor’s house and wound up in Russia.
3. When I am fishing in a boat, I sometimes land at a town to loot and pillage and burn everything to the ground while drinking up all their alcohol.
If you can answer “yes” to these three questions, then go get yourself a helmet with some bull horns!
Since I don’t know my heritage, I adopted Norway ever since I was stopped by a couple vacationing from there...they said they thought I was their neighbor from their home town, I was so his twin.
And I live in a longboat ;) small cruizin sailboat
Actually it’s one million kroner, which is only 160,000 bucks per citizen. Hardly enough to live on for the rest of one’s life. Still, I’d rather have my share of the nation debt be negative 160,000 bucks than the present plus 51,000 bucks per American.