BUYER BEWARE: Mark Carney Pitches a Canada “Wealth” Fund - Funded With Government Debt - What Could Possibly Go Wrong? - EnergyNow
BUYER BEWARE: Mark Carney Pitches a Canada “Wealth” Fund - Funded With Government Debt - What Could Possibly Go Wrong? - EnergyNow
Source: EnergyNow
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DW NOTE
Mark Carney wants Canada to borrow money to create a "wealth fund" — a vehicle that invests borrowed capital in the hope of earning more than the cost of the debt. Norway did this with oil windfalls it didn't need to spend. Canada would do it with deficits it's already running. One is storing surplus. The other is gambling on spread.