Norway is good example how to manage wealth

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Quote from: LoyceV on August 16, 2024, 01:13:11 PM

Exponential growth can't be sustained on a finite planet, so step one would be to stop increasing in numbers.

Yeah like that is ever going to stop in the country, polygamy is a norm and the giving birth of many children is seen as a flex in the country. Children are seen as investments in this parts (although the educated new couples are adjusting to fewer children).
That population you're seeing isn't even correct, we're far more than that in the country and this has affected the jobs and general lifestyle of the citizens. But again what we have in the country should have been sufficient to take care of the population to some extent but because of the bad governance, there's nothing to write home about. Everything boils down to poor management of the natural resources in the country.

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Quote from: DrBeer on August 16, 2024, 03:20:32 AM

Norway is a great example of how you can live a quality life and have savings for the FUTURE !
Instead of plundering, hiding in corruption schemes, spending on war or terror, Norway has chosen the path of development instead of degradation. Norway is also an excellent example that natural resources can be used for the benefit of the entire population, not a bunch of kleptomaniacs in power.

Proper management of income, reasonable spending, investments - Norway gives a perfect example of reasonable use of money that is obtained at the expense of resources

That's right, Norway is a very ideal example as a country, they are very lucky because they have an honest and good government. There are quite a lot of countries in the world that have abundant natural resources, not only oil and gas, but have failed to build a sustainable welfare system for their people. When government officials do a lot of corruption, collusion and nepotism, it is very difficult for a country to emulate Norway, it is just a daydream. Another disease that makes it difficult for a country to develop is the behavior of capital owners, where they act so capitalist in every sector. The key to Norway success in managing its natural resources, then utilizing them in other sectors lies in legal certainty, where strict and firm law enforcement has ultimately made Norway a just country for its citizens.

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Quote from: LoyceV on August 16, 2024, 01:13:11 PM

Exponential growth can't be sustained on a finite planet, so step one would be to stop increasing in numbers.

And that won't happen because poverty and poverty can't end while the population grows exponentially in a poor country, basically a poverty trap situation. I think a lot of countries are just in a situation of no return, some tar pit situation where everything you do things will get worse. And btw, this forum might be one of the safe places where to say things like that, but do post this on x or Reddit about some countries that need to deal with population growth, and let's see the reactions! If you will get away just with a nazi label it will be a win.

Quote from: LoyceV on August 06, 2024, 05:30:14 AM

And there is of course living in Svalbard, where you don't need a Visa, but you'll have to leave once you run out of money. I must say I like the concept.

Why in the name of god would you do that?
Just go to Alaska or if you're only interested in remote things join a research team in Antarctica.

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Quote from: CryptopreneurBrainboss on August 16, 2024, 12:28:33 PM

I can't imagine my country Nigeria doing the same.

That's an interesting example: Nigeria has 5 times more oil and 2.5 times more natural gas reserves than Norway (I just Googled the numbers). But while the population of Norway went up from 3.5 to 5.5 million since 1960, the population of Nigeria went up from 45 to 220 million and the graph is still growing exponentially. Exponential growth can't be sustained on a finite planet, so step one would be to stop increasing in numbers.

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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.

I have always heard good things about Norway and how living their is a dreamland, but every country can't just copy them as there are things that made this possible for Norway and it seems others repliers have already listed them, like the low rate of corruption, size of the country and other factors that I don't have to mention. Other countries don't have those advantages so if they were to follow the same steps of Norway, the funds might be embezzled.

I can't imagine my country Nigeria doing the same. Nobody will support them because we have seen this scene play out before of the governments saying they're doing something similar for the progress of the nation but it turnout that they shared the money within each other. There's a lot of ways to manage the wealth of a country but first those to be incharge has to be credible before handling such power. My country's economy being as bad as it is right now is because of poor management of the reserved funds the country had from crude oil sales.

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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.

This is what it means to manage public funds. To put together the assets of people and invest it into something that will make it beneficial and sustainable for the country and it's people like the equities, real estate and renewable energy. This shows a massive level of transparency in the system if really these funds are properly channels for the course in which they're allocated for.

I would love to see Nigeria adopt this style of leadership in financial management. According to the details in Wikipedia, Norway is just a rank ahead of Nigeria in terms of its oil production capacity, yet they have abundant oil to save in their purse for other investments. While Nigeria also boasts of having enough oil and gas to supply its citizens, we can't tell where the monies go into due to lack of financial transparency and poor economic management.

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Norway is a great example of how you can live a quality life and have savings for the FUTURE !
Instead of plundering, hiding in corruption schemes, spending on war or terror, Norway has chosen the path of development instead of degradation. Norway is also an excellent example that natural resources can be used for the benefit of the entire population, not a bunch of kleptomaniacs in power.

Proper management of income, reasonable spending, investments - Norway gives a perfect example of reasonable use of money that is obtained at the expense of resources

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Quote from: Lucius on August 06, 2024, 04:27:31 AM

Things are great if you look only from a financial perspective, but people who fantasize about Norway as some kind of promised land should know that it is a specific society that is not easy to get into, with a climate that drives many foreigners out of the country within 1-2 years. For a long time, Norway was on the list of countries with a high rate of suicides, which many associated with a high rate of depression due to very long polar winters when there is actually no sun, but the polar night lasts.

Financially, the country is doing well thanks to its natural resources, low corruption rate and apparently honest and capable politicians - but there are few countries in the world where politicians work for the people and not for their personal interests. Norway is one of the exceptions, but life in that country is far from perfect. For those who are interested in more ->

The Downsides of Living in Norway

Nobody is saying Norway is a dreamland to live and be a citizen, would be better than 99% of the world that is for sure, but nobody is saying lets leave our nations and go to Norway, not that they would accept all of us, but if they said "here come to Norway and we will give you job and house" 100% wouldn't go, many would, but not ALL would, there will still be some people who will not, and after 10 years, even some of the ones who went would be back in their nation.

The point of this discussion is that they do know how to handle all of this, they are aware of how to handle money and that part is true. Norway has no corrupt officials, well even if they do have some small corruption it is not big enough that we know about it, while we know about it in every other nation.

And they constantly invest into their future and keep a decent life, which means that the part we are promoting here is the part about managing money, and they are good at it. You can argue about many things, you can constantly think about everything you want to think about them, there are many things they might be doing wrong, MANY things, we wouldn't know. The only thing we are saying they are good at, is managing money, and that stands true.

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Quote from: LoyceV on August 06, 2024, 05:30:14 AM

Quote from: Lucius on August 06, 2024, 04:27:31 AM

Things are great if you look only from a financial perspective, but people who fantasize about Norway as some kind of promised land should know that it is a specific society that is not easy to get into

That's what makes Norway so great: they look after their own interests. Norway's sovereign wealth fund is not meant for immigrants, it's meant for Norwegian citizens.

Their voters have already refused to be part of the EU twice in the referendum, and research from a few years ago shows that over 70% of people in that country are still against it. When you look at what is happening in Sweden, it is clear that the Norwegians made the right move - they are not members of the EU, so they do not have to fulfill anything that is against their national interests, and at the same time they are members of the EEA (European Economic Area).

Quote from: LoyceV on August 06, 2024, 05:30:14 AM

And there is of course living in Svalbard, where you don't need a Visa, but you'll have to leave once you run out of money. I must say I like the concept.

I didn't know about the concept, but it makes sense if things are set up that way - I guess it makes sure people behave responsibly. I did a little research about Svalbard (I haven't watched the video yet - it doesn't work on Tor), but as far as I can see, the polar night lasts for 4 months, children can't be born there, the mothers go to Norway, there are also no cemeteries - and it's forbidden to keep cats. Longyearbyen as the capital has about 2000 inhabitants, and they say that there are about 3000 polar bears on the island - not for those who don't like wildlife

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Quote from: Yaunfitda on August 06, 2024, 06:33:40 AM

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

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.

Yeah, I think this was the case for them, during world war, or after, post-war and the political changes that was sweeping Europe that time, Norway stood it's ground and the people running the government really knows what to do.

And so they become totally independent and they have a lot of policies that prioritized their people so that their economy will keep going. And with that, they totally re-created everything and in the last 50 years, they really make a big changes and now becoming one of the wealthiest or at least many people wanted to live their because it's rich country and also very quiet.

Also they actually did elected people who would do the best help for the government, and not the most popular person who says what they want to hear. That is the type of situation politics in everywhere else, in fact in most cases people are voting for people they dislike, because other side have people they hate, so it's clear that Norway and many other Scandinavian countries are shown as good examples of why they are run very well, its because if you are just a popular moron who lies all the way to election, people will just not vote for you.

Many politicians who are presidents right now, would not go beyond 1-5% range in Norway, because Norway only cares about development and actual action. Many people in politics grow from smaller positions, and do something good with their small position to get to a higher position, if they suck and corrupt then they don't win anymore.

If you keep that simple fact in mind, then you are going to end up with something quite good, and get a greater result in the end. I believe that Norway has done that, they realized that if they do the right thing and just run the nation good and well, they can keep their job and even improve, so politicians try to help as much as they can.

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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.

Yeah, I think this was the case for them, during world war, or after, post-war and the political changes that was sweeping Europe that time, Norway stood it's ground and the people running the government really knows what to do.

And so they become totally independent and they have a lot of policies that prioritized their people so that their economy will keep going. And with that, they totally re-created everything and in the last 50 years, they really make a big changes and now becoming one of the wealthiest or at least many people wanted to live their because it's rich country and also very quiet.

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Quote from: Lucius on August 06, 2024, 04:27:31 AM

Things are great if you look only from a financial perspective, but people who fantasize about Norway as some kind of promised land should know that it is a specific society that is not easy to get into

That's what makes Norway so great: they look after their own interests. Norway's sovereign wealth fund is not meant for immigrants, it's meant for Norwegian citizens.

And there is of course living in Svalbard, where you don't need a Visa, but you'll have to leave once you run out of money. I must say I like the concept.

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Quote from: crwth on August 01, 2024, 07:06:37 PM

I have always heard great things about Norway, which seems like a great place. I remember it being on top of the Charts. People are happy and have made a lot of progress in terms of economics. Reading everything posted here makes it seem like a great place, and I hope every country can follow suit.

Things are great if you look only from a financial perspective, but people who fantasize about Norway as some kind of promised land should know that it is a specific society that is not easy to get into, with a climate that drives many foreigners out of the country within 1-2 years. For a long time, Norway was on the list of countries with a high rate of suicides, which many associated with a high rate of depression due to very long polar winters when there is actually no sun, but the polar night lasts.

Financially, the country is doing well thanks to its natural resources, low corruption rate and apparently honest and capable politicians - but there are few countries in the world where politicians work for the people and not for their personal interests. Norway is one of the exceptions, but life in that country is far from perfect. For those who are interested in more ->

The Downsides of Living in Norway

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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. 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.

Usually we miss this part of Norway and many are saying this is one of the best and model for many countries, but we have to accept all countries can't have these advantages and disadvantages which is Norway having and doing things we are having challenges and geographical problems for Asian and many other countries which are also having sources like Norway but can't do things like them.

Norway having the biggest advantage population which can't increase like going into many other developing countries, and they are also having troubles like currently peoples are suffering due to conflicts with Norway is staying away and have completely different style and way but still we have to accept they are doing good peoples in Asia having dream of life like this but still many are not like to go as well due to -50°C even as I asked many they never like to live if we have near this -10°C.

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

Why would increasing the population ever be a goal?

I am not saying it is the goal, but it is what happens. Of course there are a lot of other more important things that affect population like culture for example.

Quote

It's true that most of Norway is quite harsh to live in.

That's exactly my point.

Quote

It depends on where you are: Oslo is obviously a lot warmer than Northern Norway. But I choose cold over desert any day!

I've been to Sweden and it is a horrible place to live (weather-wise) for a whole year not just visit during summer when the weather is nicest. Norway is north of that so I can only imagine how much worse it overall is over there.
Luckily our choices is not between a cold hell and a hot desert. We have more choices. Wink

Quote

The first Asian country in the list is Japan at #14. Life isn't easy for most people in most Asian countries.

There are a lot of reasons for that and population is usually not on top of the list.
If you check the history of the past 200 years, you get a better understanding on why the situation is like what it is in most of these countries. From China and Japan in the East all the way to Egypt and Palestine in the West.

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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.

I wish my country can adopt this approach, unfortunately we don't have politicians that think in this direction. We are richer than Norway in terms of oil and other natural resources. My country have natural deposit of most of the precious metals of the word and one of the biggest gas reserve in the planet yet no political leadership to make this translate to wealth of the citizens hence we have rich politicians in a poor country. I have always admired Norway for several reasons. I have friends who traveled there for education which is free according to them provided you meet their requirement. Now this post shows they are not just squandering everything they make from the oil but are also investing and saving for the future.

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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.

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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!

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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

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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

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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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So anyway, I applied as a merit source :)

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.

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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.

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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.

This is definitely what happen when a nation treats it's natural resources and other resources as property of the people. Very smart strategic thinking and citizen of Norway should be proud that they has successful governments that allow the different programs to continue. Hopefully other countries also adopt they tactics or atleast be more considerable about they land.

Dunno if anyone here already sent it but you can track the value of the fund live on their website --> https://www.nbim.no/no/

Quote from: Peanutswar on August 01, 2024, 10:59:09 AM

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

~In my country, pensioners have to wait for many years before they get gratuity after retirement. Pensions are paid irregularly which brings untold hardship to these senior citizens. It is common to see protests organized by pensioners, and in some cases, they die protesting. It is good to know that there is a place where pensioners are given priority.

Here in my country, there's a lot of documents needed to provide before you are eligible to receive that pension even though you really work hard just to pay those monthly deductions in your salary.

I also lived in a country where you need a lot of documents and certain ages before you use your own pension and such. Some already died before they even use it, some can even use it to scam (a marriage related thing)

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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.

I had a Norwegian born grandmother she was born in 1899 and died in 1987. She came to the USA in 1906. A fine person I miss her. I would love to visit Oslo here birth town. Nice post I gave you a merit.

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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.

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I have always heard great things about Norway, which seems like a great place. I remember it being on top of the Charts. People are happy and have made a lot of progress in terms of economics. Reading everything posted here makes it seem like a great place, and I hope every country can follow suit.

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Norway does have a good use of green energy and infrastructure as I understand it. The money came from oil and it was dangerous to expect that to last but very rarely seen good actions by a government, they resisted the temptation to spend this one off money. Its really a small sized population but very large coast line, sharing North Sea oil with the UK.

They actually did a good job of encouraging the search for oil and extraction by funding the drilling instead of immediately taxing or seeing higher costs met by companies alone. I think this is a large part of why Norway has so much oil actively available when it could have taken decades to develop that resource.

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It’s an interesting idea from which, I agree with you that most countries can learn from but, that wouldn’t be for the country that is focused on exporting its crude only to buy it back as finished products right? Because, you barely get nothing of that and most times, you end up paying even more coupled with corrupt leaders chattering away whatever that could have come off it.

Quote from: kryptqnick on August 01, 2024, 09:12:35 AM

it's also important to note that oil and gas are those resources from which the world must turn away to tackle climate change.

This point makes it necessary to emphasize on the part where OP said, it’s invested in other renewable energy sources. It points to a part that could as well show how they are preparing for a time where they would cut down on crude and crude products for energy.

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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.

No matter how meager the state resources is, once it's properly managed, the people will definitely benefit from it. What Norway has done is to show leadership on economic management of state resource. a lot of countries in the world today that have oil and gas are still struggling on how to show sustainability and benefit of their resources to their citizens due to lack of vision. Once you're idealistic enough to invest in energy, infrastructure and equity, then you're on the right track as a nation, because these are some of the things that investors see before investing in your country, so I'm happy with the Norwegian leaders for coming up with some of these economic blue prints to help build a sustainable financial economy for their citizens.

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Well, a lot of nations "try" to do that, but they do not have the income for it to be fair. Plus, Norway has huge income compared to size of of the nation as well, if you look at other nations and their population size and their income, you will realize that not many nations will be able to do the same.

This is why I think it's quite normal that we are going to end up with something that will take a while, it is not going to be that simple at all. We should all be realizing what we are talking about something that will take a lot of money. Like for example take Nigeria, I am going to be objective about them because I am not from there and never been there, look at their population and look at their resources and income, how are they suppose to do what Norway is doing? Would be quite difficult, even impossible.

El Salvador is trying to do the same, putting in of course small amount, but if btc price goes up then they will be making a good amount of money from that. So, everyone is doing it for their own price of course, but not all have that same income and that is why it is going to be quite tough situation and would not be all that ok for them, will take a while for them to get any better.

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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.

This is great for the Norwegian government, I just browsed about it and saw the big picture of it, what the citizens stand to benefit from this. This is a very big investment in most of the big companies we have today and been a shareholder of those companies no matter how small just makes me imagine the future benefits that can be derived from them. At least owning even 1% of about 100 of those top companies in the world today is something big for the country and will help improve the standard of living and enhance the economy of the country to its best in future time to come. They will greatly benefit from it from now and their future generations will also get to enjoy from this huge decision by the government. I’m so proud of the Norwegian government and I wish some other countries that are battling with crashing economies can learn from them.

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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 main reason why Norway is able to do this seamlessly, is that their corruption rate is extremely low. The government is extremely people friendly and they believe in the welfare of their people. Even more, Norway is one of the topmost oil exporting country in the world and at the same time, they themselves ride electric vehicle. Data shows that 82% of the new vehicle sales of 2023 in Norway, is electric.

Rest of the world, especially African countries need to learn from this. African continent holds the most number of natural resources. Only if the corruption can be lowered, African countries will become the richest in the world.

pooya87

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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.

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It seems they have a great country we know when it comes first because of the government even though the people keep doing that hard work here the government is corrupt nothing will happen with the country and it feels sad we are one of those who experience poor quality of service in the government, poor literacy of the people so just a small percentage of people who are financially free and live like they can as their own without the help of others. Hoping that we will experience this kind of service in our country.

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

~In my country, pensioners have to wait for many years before they get gratuity after retirement. Pensions are paid irregularly which brings untold hardship to these senior citizens. It is common to see protests organized by pensioners, and in some cases, they die protesting. It is good to know that there is a place where pensioners are given priority.

Here in my country, there's a lot of documents needed to provide before you are eligible to receive that pension even though you really work hard just to pay those monthly deductions in your salary.

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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 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.

Norway is popular for having one of the best and cheapest educational systems globally. The government takes the education sector of the country seriously, and teachers are well paid and schools well equipped. The most painful part of this issue is that most developing nations that have the lowest standard of living might be earning more than Norway. But most of the revenue of these nations ends up in the pockets of corrupt politicians.

Quote from: kryptqnick on August 01, 2024, 09:12:35 AM

I am happy that the profits from Norway's natural resources lead to supporting pensioners. It's a nice system, but it's also important to note that oil and gas are those resources from which the world must turn away to tackle climate change. And making pensions rely on such resources can lead to serious issues in the near future: it will make it difficult to stop relying on oil within the economy because it supports pensions. Fun fact is that Norway doesn't need gas for electricity, as 98% of their power supply comes from hydroelectric power plants.

In my country, pensioners have to wait for many years before they get gratuity after retirement. Pensions are paid irregularly which brings untold hardship to these senior citizens. It is common to see protests organized by pensioners, and in some cases, they die protesting. It is good to know that there is a place where pensioners are given priority.

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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.

I believe that some countries can do better like Norway but minus one country and that is my country which is Nigeria, Nigerian can never be like the other countries because everything in Nigeria is getting worse every day, we don’t have good leaders and that is why Nigeria can never be like another countries, we all know that every country have the way of ruling and how to make things right that both the leaders and the citizens will enjoy it but Nigeria leaders don’t have the knowledge of doing that and they keep calling themselves a leaders, leaders that don’t know how to control the country.

I don’t think at this particular moment we should compare Nigeria to any country because doing that will look like embarrassing another country, Noway leaders rule to develop their country while the Nigeria leaders rule for their self-interest, every citizen in Nigeria is crying because of the high price of food, oil and others resources that are being produced in Nigeria, imagine a country where the price of what they produce is high how can the country develop? So in a process where calling another country, Nigeria should not be mentioned because everyone knows that Nigeria is a corrupt country.

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I am happy that the profits from Norway's natural resources lead to supporting pensioners. It's a nice system, but it's also important to note that oil and gas are those resources from which the world must turn away to tackle climate change. And making pensions rely on such resources can lead to serious issues in the near future: it will make it difficult to stop relying on oil within the economy because it supports pensions. Fun fact is that Norway doesn't need gas for electricity, as 98% of their power supply comes from hydroelectric power plants.

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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.

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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.

Topic: Norway is good example how to manage wealth (Read 668 times)