Norway is good example how to manage wealth - page 2.

lixer

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Quote from: BigProfitSignals on August 01, 2024, 03:36:32 AM

Countries can learn a lot from Norway.
And anyone can see that noreway leaders are smart and really have financial knowledge and with wall street mindset.
Norway's Government Pension Fund Global (GPFG) was set up to ensure the sustainable use of revenues from the oil and gas sector. All surplus revenue from oil production in the country is transferred to the Fund, and invested in equities, fixed income, real estate, and renewable energy infrastructure.
It's a power of Community and collected Capital to make each share holder of this beneficial.

Another countries should make also the funds and get the people to manage wealth of others who knows how to make money from money to manage wealth of the people.

The population of the country is around 5.5 Million based on the latest data, and they have a lot of natural resources, so the people are right that it's a bit easier for them to manage everything based on the numbers. However, it still is good that their government is working more for the country than filling their own pockets which is what mostly happens in smaller countries where if there are natural resources and wealth, there is always corruption as well.

There are many countries in Asia with a lot of natural resources as well, but their governments aren't doing their best to utilize those natural resources and use the money generated from it to make the country better and provide better living standards for their people, all they care about their bank balance, the level of corruption is the reason for them to be one of the worst countries despite having so much natural wealth.

So it's true that management does make a difference even if there is a lot of natural resources, if there is corruption, it won't be enough to make a country prosper.

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Quote from: LoyceV on August 05, 2024, 09:21:14 AM

Quote from: stompix on August 03, 2024, 10:15:11 AM

Norway has lower oil reserves per capita than Venezuela and just a bit more, at 10% than Iran.

Sanctions against Venezuela and Iran make it difficult to cash out those reserves, and I guess the regimes wouldn't make the population benefit from it anyway.

But, but ...sanctions don't work! Grin

Anyhow you're right about the regimes, the largest gas reserve isn't the world and they have to shut down the country cause they can't supply anything, from electricity to gas to diesel
Iran's gas shortage spirals out of control amidst electricity crisis
and for this of course the Jews are to blame

Quote from: pooya87 on August 04, 2024, 02:53:34 AM

To be fair Norway is a tiny country as well, geographically speaking, like many other countries in Europe. So they can't increase their population even if they wanted to. There is jut not enough room for them.

And surprisingly this tiny country has a GDP higher than Iran with 10 times less the population, maybe instead of making babies to be martyred for the great fuckatollah they've chosen to be happy and work for themselves.

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Quote from: BigProfitSignals on August 01, 2024, 03:36:32 AM

Countries can learn a lot from Norway.
And anyone can see that noreway leaders are smart and really have financial knowledge and with wall street mindset.
Norway's Government Pension Fund Global (GPFG) was set up to ensure the sustainable use of revenues from the oil and gas sector. All surplus revenue from oil production in the country is transferred to the Fund, and invested in equities, fixed income, real estate, and renewable energy infrastructure.
It's a power of Community and collected Capital to make each share holder of this beneficial.

Another countries should make also the funds and get the people to manage wealth of others who knows how to make money from money to manage wealth of the people.

They constantly evaluate their systems and incomes and direct them to their people, and thanks to this, they can do what they do at a better level. This method is a method that many countries should follow, but in order to achieve this, people's perspectives need to change and a long time needs to pass.

Many countries have different sources of income, and the level of development of these countries changes according to how they use their incomes. Managing wealth and using this wealth for the welfare of the people is one of the most important tasks that states should do.

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Quote from: Davidvictorson on August 01, 2024, 06:04:37 AM

Quote from: BigProfitSignals on August 01, 2024, 03:36:32 AM

Another countries should make also the funds and get the people to manage wealth of others who knows how to make money from money to manage wealth of the people.

Norway is an interesting case study. They don't have that much going on but what they do have going on. Their leaderships have manage it superbly and they always their people first compared to many countries who either spend lavishly or all lost due to corruption. However, I'm a bit surprised they didn't lower their tax rate gradually since it's so high. Despite this, I would say that Norway won the oil lottery. I wish my country, Nigeria will learn a lesson here. Our politicians are so corrupt that even the oil revenue put into government treasuries is stolen by government officials. That leads to the underdevelopment as you rightly mentioned in your video.

Honestly could apply to any of those countries at the Far Northern hemisphere. Iceland by all means shouldn't be as rich as they are and yet they are one of the most profitable and cheapest places to live in, Sweden literally sell their lots for cheap and provides their citizens with all the things they need and more, meaning money isn't a problem for them. New Zealand, even if it's not in any way connected to those countries I listed in the first place, is one of the most economically-capable countries in the planet.

It's like the more you're closer to the equator, the worse your economy's gonna be lol. But in all seriousness though, I believe this happens because they have good governance that is centered towards making sure that the citizens are taken care of. Goes to show that when you really care about your people, they end up working more efficiently? Who would've thought of that lmao.

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Quote from: pooya87 on August 04, 2024, 02:53:34 AM

So you can't really compare it with countries with high population, like in Asia for example where the life is a lot easier and there is enough "room" since most of them are massive countries.

In Asian countries, population is high and the population density is also high, because the entire country is overpopulated in terms of space. This leads to poor physician:patient ratio, less jobs for people to get into and poor living conditions.

Life is not easy, in fact it is not easy in any place, you dont really have that space to let loose. The competition to get educated and get a degree to get into a job is fierce here.

Which is why these countries are currently the target of so many multinational companies to push their products into. Talk about Apple coming and oiling the middle class Indians here.

However they will never talk about attempting to control the population, because that will lead to politicians losing their power in the midst of the all the problems that overpopulation leads to.

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Quote from: stompix on August 03, 2024, 10:15:11 AM

Norway has lower oil reserves per capita than Venezuela and just a bit more, at 10% than Iran.

Sanctions against Venezuela and Iran make it difficult to cash out those reserves, and I guess the regimes wouldn't make the population benefit from it anyway.

Quote from: pooya87 on August 04, 2024, 02:53:34 AM

Quote from: LoyceMobile on August 02, 2024, 03:17:49 AM

This isn't something other countries can learn: Norway has large natural resources compared to it's population size. You can't choose your resources, so the only thing other countries could do is reduce their population numbers.
They opposite is happening almost everywhere.

To be fair Norway is a tiny country as well, geographically speaking, like many other countries in Europe. So they can't increase their population even if they wanted to.

Why would increasing the population ever be a goal? It shouldn't be, most countries are much better off with less people. Norway has 15 people per square kilometer (Iran: 55. Netherlands: 535), and it's great having so much space per person!

Quote from: Fortify on August 04, 2024, 06:29:16 AM

Many countries simply plunder any oil wealth and burn through any profits immediately

Guess why the Dutch disease is named after my country....

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Quote from: BigProfitSignals on August 01, 2024, 03:36:32 AM

Countries can learn a lot from Norway.
And anyone can see that noreway leaders are smart and really have financial knowledge and with wall street mindset.
Norway's Government Pension Fund Global (GPFG) was set up to ensure the sustainable use of revenues from the oil and gas sector. All surplus revenue from oil production in the country is transferred to the Fund, and invested in equities, fixed income, real estate, and renewable energy infrastructure.
It's a power of Community and collected Capital to make each share holder of this beneficial.

Another countries should make also the funds and get the people to manage wealth of others who knows how to make money from money to manage wealth of the people.

It's true, Norway are one of the few countries out there who have managed oil wealth correctly and done it for the good of the people. Their sovereign wealth fund has taken a lot of the profits from oil and bought up ownership in many different enterprises, which has massively diversified their risk and will make them much richer in the long run. Many countries simply plunder any oil wealth and burn through any profits immediately, which is short sighted behavior. I think it is definitely part of the Scandinavian psyche that they preserve and conserve during the good times, so they can be more successful during the bad times. It requires careful maneuver by politicians and buy in from the general population to make it last over the decades.

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Quote from: LoyceMobile on August 02, 2024, 03:17:49 AM

This isn't something other countries can learn: Norway has large natural resources compared to it's population size. You can't choose your resources, so the only thing other countries could do is reduce their population numbers.
They opposite is happening almost everywhere.

To be fair Norway is a tiny country as well, geographically speaking, like many other countries in Europe. So they can't increase their population even if they wanted to. There is jut not enough room for them. And correct me if I'm wrong but weather-wise Norway doesn't seem like the best environment for living. It is basically like North Pole and temperatures fall down to -50°C.

So you can't really compare it with countries with high population, like in Asia for example where the life is a lot easier and there is enough "room" since most of them are massive countries.

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Quote from: ChiBitCTy on August 03, 2024, 09:03:00 PM

I have always though very highly of independent nations. I think things are all messy now that Russian has scared the likes of Denmark and Sweden in to needing to join NATO, so these "independent" nations are kind of becoming a thing of the past, but it does seem like Norway does a lot of things right.

Joining alliances is very recommendable especially if most of the countries have built alliances with others. But if a country can hold on their own then it is a good sign.

Quote

The show makes the country seem pretty amazing though (despite being quite cold lol).

Well I wouldn't be surprised with that as netflix is known for being able to show whatever they want to show. I might check the show out though!

ChiBitCTy

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I have always though very highly of independent nations. I think things are all messy now that Russian has scared the likes of Denmark and Sweden in to needing to join NATO, so these "independent" nations are kind of becoming a thing of the past, but it does seem like Norway does a lot of things right.

If anyone has seen the Netflix series "Lillyhammer", you get a nice glimpse in to Norway ..though how accurate I've always wondered. The show makes the country seem pretty amazing though (despite being quite cold lol).

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Quote from: BigProfitSignals on August 01, 2024, 03:36:32 AM

Countries can learn a lot from Norway.
And anyone can see that noreway leaders are smart and really have financial knowledge and with wall street mindset.
Norway's Government Pension Fund Global (GPFG) was set up to ensure the sustainable use of revenues from the oil and gas sector. All surplus revenue from oil production in the country is transferred to the Fund, and invested in equities, fixed income, real estate, and renewable energy infrastructure.
It's a power of Community and collected Capital to make each share holder of this beneficial.

Another countries should make also the funds and get the people to manage wealth of others who knows how to make money from money to manage wealth of the people.

Norway is an example for other countries to always follow them, in terms of processing its natural resources, especially oil and gas, creating a strong and sustainable economic foundation, they are wise in managing finances and looking to the future with the support of large natural resource stocks and skilled workers with the application of new technology and making their country better with the of their government that wants to progress, which is the main key, with quality people, they prioritize the progress of the country rather than thinking about themselves and that is indeed the best step they take.

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I see Loyce has already broken this does down well in regards to the population resources ratios.

Norway's case is a Resources>Population and anybody knows that if available resources are more than a population it means managing its wealth becomes much easier, but we have to commend them for going the extra mile in terms of diversification of its monetary resources as managing this wealth takes discipline and not everyone can go this path.

But my question would be can other countries replicate this management of resources, my answer no...some countries that have oil have high populations which makes it difficult to have surplus resources to invest in other sectors and most likely goes to paying government wage Bills or developing public infrastructure which leaves nothing in the coffers... secondly the political landscape doesn't make it conducive for doing business as tension is a drawback to development as we have seen in the news for these oil rich countries.

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Quote from: LoyceMobile on August 02, 2024, 03:17:49 AM

This isn't something other countries can learn: Norway has large natural resources compared to it's population size. You can't choose your resources, so the only thing other countries could do is reduce their population numbers.
They opposite is happening almost everywhere.

https://www.nationmaster.com/country-info/stats/Energy/Oil/Reserves-per-capita

Quote

9   Venezuela   2,828.34 barrels
10   Oman   2,418.4 barrels
11   Norway   2,132.46 barrels
12   Iran   1,900.15 barrels
13   Kazakhstan   1,716.51 barrels
14   Angola   1,511.09 barrels

Norway has lower oil reserves per capita than Venezuela and just a bit more, at 10% than Iran.
Norway's GDP per capita is at the top, the rest are .....

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita

Quote

Norway   94,660
Iran   5,310
Venezuela   3,867

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Quote from: Webetcoins on August 03, 2024, 04:44:51 AM

Quote from: K8 Crypto on August 01, 2024, 08:02:42 PM

Norway's basically nailed the whole "what to do with a ton of cash" thing. They struck oil and instead of blowing it all, they're like "Let's save this for a rainy day." Smart cookies, right? They've got this massive piggy bank that's funding cool stuff for their people while still growing. It's like they won the lottery but decided to invest wisely instead of buying a fleet of yachts. Other countries could definitely take a page out of Norway's book when it comes to not messing up a good thing.

It's crazy that when we have lots of money we thought we won't have a problem anymore but there is still actually and that is if how we can spend it all, lol. Anyways, it seems that our problems will now get lessened or now be solved because there is a post here that we all can learn with, just in case our destiny got changed suddenly, Wink

. Didn't knew that they also got Oil. I thought it was only the Arab country who are known to have this but they can also sell some of it if they want to, or trade it, if its supply is already too much.

I mean it is not really unheard of, but also they are not getting unlimited money this way neither, they are investing and that's good but they will need money eventually and that means even though theirs will take a lot longer to end, it will still end one day. Plus, they are not spending it on improving that much neither, you can talk with any Norwegian and they will tell you that it's VERY expensive to live there. When you have a decent job, and I do not mean like something big, just any normal 9-5 type of 5 days a week job, it's quite possible to live a decent life, that's true.

However, if you are a "poor" person in Norway (which I know one) life suddenly becomes insane, you can't just make 100 dollars a day as a poor person to be able to afford simplest stuff. So they are known as left wing nation and should help with those people if they want that money to mean something.

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A big factor to influence all this is the population of the country. Developing countries have the highest population percentages of the world and they are churning out new mouths to feed everyday. In such a country, the governments dont want their people to get literate and have their own opinion but continue the hardships in and have them something to leverage them on.

Comparing the populations of India vs Norway we can clearly see that India surpasses this race with a lot of embarrassment by a whooping 258 times. You cant have such level of thinking and wealth management in these countries.

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Quote from: Davidvictorson on August 01, 2024, 06:04:37 AM

Quote from: BigProfitSignals on August 01, 2024, 03:36:32 AM

Another countries should make also the funds and get the people to manage wealth of others who knows how to make money from money to manage wealth of the people.

Norway is an interesting case study. They don't have that much going on but what they do have going on. Their leaderships have manage it superbly and they always their people first compared to many countries who either spend lavishly or all lost due to corruption. However, I'm a bit surprised they didn't lower their tax rate gradually since it's so high. Despite this, I would say that Norway won the oil lottery. I wish my country, Nigeria will learn a lesson here. Our politicians are so corrupt that even the oil revenue put into government treasuries is stolen by government officials. That leads to the underdevelopment as you rightly mentioned in your video.

Nordic countries are all equally interesting. Quality of life is amazing there as I have heard from many people who live there and it's very clear from the internet that everyone enjoys life in these countries. That's what democracy and a non-corrupt leadership with right minds bring to the country. Not only Nigeria but Russia can also achieve a very high quality of life if they were spending all of their money like Norway instead of spending it all on military.
Nigeria is richly endowed with natural resources. If politicians weren't corrupt and instead put all the money into the development of education, healthcare, engineering and etc, citizens would have a very high quality of life. It's corruption and traitors that make life terrible in countries.

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Quote from: K8 Crypto on August 01, 2024, 08:02:42 PM

Norway's basically nailed the whole "what to do with a ton of cash" thing. They struck oil and instead of blowing it all, they're like "Let's save this for a rainy day." Smart cookies, right? They've got this massive piggy bank that's funding cool stuff for their people while still growing. It's like they won the lottery but decided to invest wisely instead of buying a fleet of yachts. Other countries could definitely take a page out of Norway's book when it comes to not messing up a good thing.

It's crazy that when we have lots of money we thought we won't have a problem anymore but there is still actually and that is if how we can spend it all, lol. Anyways, it seems that our problems will now get lessened or now be solved because there is a post here that we all can learn with, just in case our destiny got changed suddenly, Wink

. Didn't knew that they also got Oil. I thought it was only the Arab country who are known to have this but they can also sell some of it if they want to, or trade it, if its supply is already too much.

Quote

They've got this massive piggy bank that's funding cool stuff for their people while still growing

Sounds great. This is the dream of many individuals that all are going to be happy and not just the governments. They are rich but they are afraid that their wealth will run dry if they will share it to their people. They are so greedy and corrupt. I don't wonder anymore on why many people can blame them because their actions are also not right.

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It's like they won the lottery but decided to invest wisely instead of buying a fleet of yachts

'It's like' only but all the money that they have must have come from their hard work and they deserved it well. This is also the reason on why they spend it wisely.

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Quote from: Zlantann on August 01, 2024, 10:13:27 AM

Norway has one of the lowest rates of corruption in government. The country is ranked fourth less corrupt country out of 180 nations, which shows that it has one of the least corrupt public sectors in the world. When corruption is limited, funds can be used effectively and efficiently. Governments of other nations should learn how to use limited resources in a manner that will touch the lives of common men.

Truthfully, the lack of development in every country is corruption. When the country's leaders only care about their bellies and pockets, that country can never develop, and this is the case for most African countries, especially West African countries. When there is too much corruption, leaders will no longer be visionaries; they will only think of how to enrich themselves.
The countries of West Africa have so many resources that they should be able to be developed countries, especially Nigeria. When I mean resources I was not referring to oil alone, in fact, if you exclude oil, Nigeria still have a lot of human resources and natural resources to be among the best countries in the world.
All the government needs to do is invest in the country and the country will grow, education, security, small-scale business, create a business-friendly environment, encourage local production, and Make strict laws to protect both businesses and consumers.
Of course, they won't do this because they don't care about developing the country, they only care about making money for themselves.

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This isn't something other countries can learn: Norway has large natural resources compared to it's population size. You can't choose your resources, so the only thing other countries could do is reduce their population numbers.
They opposite is happening almost everywhere.

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Quote from: pooya87 on August 01, 2024, 11:26:32 AM

It's not exactly correct to make such a comparison like this though. Small countries with a small population usually have it a lot easier, specially if they had natural resources over the past 3 years and could sell it at much higher prices and make a ton of profit.

Just look at teeny tiny countries around the southern shores of The Persian Gulf and you realize what I'm talking about.

I've also reasoned what you said, it's easier for small countries with resources to manage their wealth better than bigger countries. I believe that it's easier for their leaders to be more accountable because of the relatively small population than bigger and more populated countries where leaders don't relate and empathize with the grassroot citizens.

My country has a population of over 200 million people and we have natural resources like crude oil which is our major export but because of corruption and the gap between the rich (mostly politicians) and the poor, there's no transparent accountability. I believe that if we were a smaller country like Norway, with a fewer population, our leaders will be compelled to be more transparent and the citizens will benefit more from the national treasury.

Topic: Norway is good example how to manage wealth - page 2. (Read 664 times)