A lot of nations and 23 US states have SWF's. Alaska is one of those and it seems to me there is a constant battle among the political class to confiscate all the earnings and the body of the fund..........To finance government and all its myriad benefits ya know.

It doesn't surprise me that Biden would be working on something like this.
Unfortunately it doesn't surprise me that Trump is also.

The question is WHY ? Can they both be that ignorant ? YEP but I think it's more malign than just economic ignorance.

I have to agree with Angela. Straight up communism or fascism.



Three examples IMO..

Community Reinvestment Act......where the feds forced banks to make NINJA loans for houses . We saw the result of that in 2007-9. And who can forget the GM and Chrysler bailouts. Obama abrogated 200 years of contract law to benefit the UAW to the tune of 26 billion dollars.

And lets not forget Operation Choke Point. Threatening banks with insolvency if they didn't refuse to provide banking services to the firearms industry.

This is unlikely....IMO.......to pass Congress but remember that the federal government has become far more adept at destroying people through regulation than through the law.
Expect to see and hear more from EPA, SEC, FTC and their ilk.

Where is the money going to come from ?

Also consider that any and every industry that a Democrat administration nationalizes, will also increase the union population of the nation. ...whether the workers want it or not. Won't that enhance the federal fisc ? LOL !

What about the ones the Republicans nationalize?

Those too will become unionized. Look at TSA

I think this is more like Alaska Industrial Development and Export Authority.

Could be. I think it's just ripe for abuse at the federal level. The amount of funding at the state level would likely never be large enough to control the voting on public company investments. Not so at the federal level

"Under free market capitalism, the most innovative, consumer-friendly corporations are successful and make the most money. Under democratic capitalism and crony capitalism, the most pro-producer, corrupt and manipulative corporations make the most money."

There ya go.

Sounds like we need to focus on making it EXTREMELY unappealing to be corrupt.

Thanks everyone for the comments. I appreciated hearing everyone's thoughts, especially from those more knowledgeable than me on topics like this.

One thing I want to mention that hasn't been brought up on here yet. White's comment reminded me of it. He said



Those that read the articles may have noticed a little tidbit that is easy to overlook. Trump floated this idea about a week ago. Only after that did the Biden administration claim that this is something they've had in the works for months. If they've been working to form a wealth fund for months, why are we just now hearing about, and then only after Trump first brought it up? Why so secretive about it? Why wouldn't it have been something Biden was touting when he was still campaigning?