- cross-posted to:
- economics@lemmy.ml
- economy@lemmy.world
- cross-posted to:
- economics@lemmy.ml
- economy@lemmy.world
I don’t underestimate our Dear Leader’s ability to do it badly, but isn’t a sovereign wealth fund typically a good idea?
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He saw what Najib and Jho Low did with 1MDB and thought “I want some of that shit.”
A vehicle for grift. Buy shares in a company. Convince the government to buy it. Get paid.
Remember when Republicans wanted to privatize everything because government is slow, bloated and inefficient? Now they are endorsing government takeovers of companies.
When you follow a party it creates a shortcut in the brain that stops you from questioning if an action of theirs is consistent with its beliefs. Next thing you know the party has changed all its positions and the followers don’t even realize that it changed but they still follow it.
People voted for Trump because they thought he would ban all abortions. But he changed the official party platform to only want to ban late term abortion. When you show them the text they refuse to believe it even when you have them read it out loud. The platform changed. The platform changed and those single issue voters didn’t care because they believed it didn’t change.
The US doesn’t need a sovereign wealth fund because it already has infinite money. What is the point of such a fund but to further induce asset price inflation, making the rich even richer?
If the US wants to eminent domain companies, making them publicly owned, that would be great in some cases, but these people generally want to do the exact opposite: privatize the last few things left that are still public in the US.
That’s what I’m thinking, that in the right hands a sovereign wealth fund would give the government a more subtle and possibly more effective means to acquire controlling stakes in various corporations than eminent domain.
Let’s be real none of the money that Elon Musk is adding to his pile is going to help people.
He’s creating a stash account to grab on his way out… Assuming he ever leaves.
With proper rules and ethics guidelines sure. How do you think this administration will choose where the money goes and who to Enrich. Because that will be happening winners And? Losers.
Just a giant handout to Wall Street basically. Also a perfect way to put a bullet in the heart of Wall Street reform movements. Can’t fix a broken system if you’re profiting off of it.
I guess if it goes to the working class, sure but I highly doubt the recipients of the fund will be us.
