Richard, love your stuff. You do a great job and I am on board with what you put out.
Question? - Will the economic elites in the west especially here in the USA (banks, P.E., hedge funds, wall street, investment banks, rich small boutique firms) let this happen, what you propose? They have squashed thinking like this before. They own everything so they have a huge voice and power? Our English model of economics dictates these rich elites who control the politicians want to make all this money, not us the populace? Will they let the populace through government spending which will certainly take away from their easy profits? I love what you say but wonder if our bought off politicians will work together to make something like this happen?
Hi Jeff, Thanks for your kind feedback and for your question. Yes. I think the groups you mentioned above will support this idea. The more the government invests, the more asset prices will rise. And, with this U.S. Sovereign Wealth Fund, the government would be taking equity stakes in companies that are managed by and largely owned by the groups you mentioned. So, the wealthiest segments of society will benefit from the U.S. Sovereign Wealth Fund along with (and perhaps more than, as is usual) everyone else in the United States. Anyone who is unhappy about income inequality should vote for politicians who pledge to raise taxes on people making more than $50 million a year, for instance. We want wealth to grow. If the public is unhappy about so much of the wealth going to the richest segments of society, then the public should vote to increase the taxes on the richest segments of society. Then the growing pool of wealth would be redistributed throughout society. But the most important thing is for wealth to grow. Everyone will benefit.
Richard, love your stuff. You do a great job and I am on board with what you put out.
Question? - Will the economic elites in the west especially here in the USA (banks, P.E., hedge funds, wall street, investment banks, rich small boutique firms) let this happen, what you propose? They have squashed thinking like this before. They own everything so they have a huge voice and power? Our English model of economics dictates these rich elites who control the politicians want to make all this money, not us the populace? Will they let the populace through government spending which will certainly take away from their easy profits? I love what you say but wonder if our bought off politicians will work together to make something like this happen?
Hi Jeff, Thanks for your kind feedback and for your question. Yes. I think the groups you mentioned above will support this idea. The more the government invests, the more asset prices will rise. And, with this U.S. Sovereign Wealth Fund, the government would be taking equity stakes in companies that are managed by and largely owned by the groups you mentioned. So, the wealthiest segments of society will benefit from the U.S. Sovereign Wealth Fund along with (and perhaps more than, as is usual) everyone else in the United States. Anyone who is unhappy about income inequality should vote for politicians who pledge to raise taxes on people making more than $50 million a year, for instance. We want wealth to grow. If the public is unhappy about so much of the wealth going to the richest segments of society, then the public should vote to increase the taxes on the richest segments of society. Then the growing pool of wealth would be redistributed throughout society. But the most important thing is for wealth to grow. Everyone will benefit.