I hope this isn't considered too political, if it is, delete it. I consider it more economic. And apparently, bipartisan, which is the alarming part.

Please stick to the topic at hand and don't make it more political than it needs to be.

Apparently both the current president, and the republican nominee, are tossing around the idea of a U.S. sovereign wealth fund.

The way I understand it, and I could be mistaken, is that this would be a fund where the U.S. government invests in private businesses. Particularly, national security interests. Theoretically, that could put the government in charge of running private enterprise and determining what... and how much of.... things are produced. The government could also determine which items will ultimately be produced by financially supporting industries (or companies) they choose, giving them an unfair advantage over industries the government chooses not to support. As an example, the gov't fund could invest heavily in car companies that support whoever the current administration is at the time, while not investing in a company like Tesla that's considered politically incorrect.

I don't know, but to me this smells of communism. What are your thoughts? Maybe I'm reading too much into this??

Short Article

Longer Article

Already doing that, Chevy Volt was a big hit for Obummer, lol. GM and such got bailed out, Ford didn't. Big banks got bailed out, smaller mom / pop banks were allowed to fold up and go away.

Get gov out of everything and things would work great! But we have been a communist country now for a long time, people are just starting to realize it little by little.

Hello comrade

nothing good will come of this.

You have a good nose, yotetrapper30. Never forget Reagan's famous quip:

"Should the Govt. Handle Airport Security?
ByABC News
November 1, 2001, 9:32 AM




Nov. 1 -- To federalize or not to federalize: that is the question facing the House of Representatives as it grapples with airline security.

With House debating air-safety legislation that may come up for a vote today, the major sticking point remains the role of the nation's airport baggage screeners.

House Democrats and some Republican moderates support a Senate bill, passed unanimously on Oct. 12, nationalizing baggage screening and adding the workers to the government work force. "

Pretty sure this is what communism looks like.

"Nationalization is the process by which a government takes control of a privately-owned company or industry, often without compensation to the former owners. "

And nobody cared.

The tax code is already used to favor one business over another.

We've been a communist country for a very long time. At least for the last 40 years and getting more and more marxist by the day. Communism is evil and always devolves to wickedness.

To your point. The Gov pics winners and losers. I've spent a big many of my years in the coal industry. To my knowledge, the coal industry is the only private company that the Gov has regulated out of business on purpose. I'm sure there are others, but that one hits home for me.

At the same time the Gov is picking winners and losers, they bring on all these new green energy deals. Solar farms, etc.

The Gov gives them tax breaks (and so do local county govs) to go out and put solar farms on prime farmland all the while putting restrictions on the coal industry.

I spent 20 years of my life restoring mined lands to wildlife habitat. Only to see it get bulldozed down into solar farms. The system is broke. There is only winners; and the winners are destroying this country.

It will not get fixed either, no matter who is in charge. To fix it would require painful remedies. No one wants to do that so the can gets kicked down the road. But the end is coming. When it gets here; it will hit most people like a freight train they never saw coming.

I cared Dirt. I have refused to fly since that mess started.

Its just a new name. Started with building railroads.

Entrepreneurs create wealth,,,

Politicians redistribute wealth,,,with a heavy dose of corruption thrown it

Where does a government with 33 trillion debt get money to "invest"?

In many ways, government resembles protection rackets run by organized crime. If you have enough money, you can buy either protection or preference. They sound similar, but are not the same.

Protection just gets them off your back. Preference puts you at the head of the line. What OP is talking about is preference. A government mandated monopoly. Fails almost every time it is tried, which is often.

I’m hoping and praying it comes for me so they won’t have it worry about.

this has been coming for a while now but most folks were just oblivious. many now refuse to admit it and have been groomed to be woke, there are many woke conservatives who do not realize what they have become....and realize that over 50% of so called conservative women are going to vote for her.....just keep hoping but remember if hope is your plan then your plan sux.

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