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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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[–] CrimeDad@lemmy.crimedad.work 3 points 1 day ago (2 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.

[–] apt_install_coffee@lemmy.ml 2 points 1 hour ago

I'm concerned that the effect would be less of "having a controlling share in many companies" and more "having your fund be deeply tied to the success of these companies".

If the size of the fund becomes a metric of success, whoever is in charge of it is going to be disinclined to force a company to make an unprofitable choice, even if it's the right thing to do.

[–] SoftestSapphic@lemmy.world 2 points 23 hours ago

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