Geopolitics

BUYER BEWARE: Mark Carney Pitches a Canada “Wealth” Fund - Funded With Government Debt - What Could Possibly Go Wrong? - EnergyNow

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DW NOTE

Mark Carney wants Ottawa to borrow money to create a sovereign wealth fund. Sovereign wealth funds exist to invest windfall revenue — usually from oil exports or trade surpluses — that would otherwise distort the domestic economy. Canada runs a current account deficit and structural budget deficits. Calling borrowed money a "wealth fund" doesn't make it wealth; it makes it a leveraged investment vehicle with no exit plan and a political board.

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BUYER BEWARE: Mark Carney Pitches a Canada “Wealth” Fund - Funded With Government Debt - What Could Possibly Go Wrong? - EnergyNow

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