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Trump orders creation of US sovereign wealth fund (www.reuters.com)

submitted 1 day ago by CrimeDad@lemmy.crimedad.work to c/usa@lemmy.ml

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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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[–] davel@lemmy.ml 23 points 1 day ago* (last edited 1 day ago) (1 children)

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.

[–] CrimeDad@lemmy.crimedad.work 3 points 23 hours ago (1 children)

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.

[–] SoftestSapphic@lemmy.world 2 points 20 hours ago

Let's be real none of the money that Elon Musk is adding to his pile is going to help people.