[mistermann]

I hope that we some day have competent, completely arms length people perform a proper systems analysis and produce competent, evidence-based recommendations, and then we implement those (because done correctly, these recommendations should be as close to the gold standard as humanity is currently capable of), plus, and extra say 0.5% skim off the top that goes into a kitty for a rainy day.

Why this seems like too much to ask (or even consider!) is another one of those things that I "just don't get".

[ttul]

That rainy day kitty is known as taxation.

[mistermann]

Taxation is the skim. A secure (protected from "borrowing, just this one time, I promise, don't worry I'll put this fancy piece of paper in the box as a replacement") kitty containing these funds, is something else entirely.

[ttul]

Norway provides ample guidance here. They have what, a trillion dollar sovereign wealth fund, invested exclusively in non-Norwegian assets, locked away for the rainy day when oil runs out or becomes valueless. That day may now be upon them.

[mistermann]

It's easier to do when you have massive oil reserves and a small population, however, Norway has done an absolutely top notch job imho. I 100% agree with you that we should be looking, and very closely, at Norway and any other countries whose policies in any area seem to be working exceptionally well.

I wonder if doing that would be considered a loss of face in some way.