The Sovereign Wealth fund consists of things like stocks and bonds. Both of these can and will drop in value greatly. They could even hit value of zero. At some point, Norway will have to continue to operate on its own resources. It was a very poor country, prior to the discovery of oil. It can perhaps keep hydroelectric operating for a while, but workers expect to be paid, so there need to be banks. Also, spare parts will be needed. It will need sources of food. Fish has been traditional; also potatoes and rye crackers. Perhaps some sheep. There are old ways of growing these things–it will not be easy to transition to old ways though. - Gail TverbergAs Gail Tverberg is the only person on Earth capable of combining economy with the laws of physics, we better take her very seriously. The best thing you can do as an individual is to collapse as soon as possible. When the panic sets in it's too late. I therefore recommend to read or re-read the grand archdruid's famous essay during holiday seasons!
- Collapse Now and Avoid the Rush
|Good bye welfare state. Good bye prosperity. Good bye oil industry.|