Big change whether we like it or not

[Sailor Steve]

Precisely. Quote tags leave no question as to the origin of the article.

[Karle94]

Maybe the vikings comes to Europe´s rescue. Last time I checked (Last year) Norway had around 3000 billion NOK (428 bil EUR, 500 bil USD) in our oil fund.

[Skybird]

Originally Posted by Karle94

Maybe the vikings comes to Europe´s rescue. Last time I checked (Last year) Norway had around 3000 billion NOK (428 bil EUR, 500 bil USD) in our oil fund.

I know that seasonal rare-light conditions lead to depressions, which can result in suicide. But that depressions lead to brainless dumping of money in black holes in an effort to waste ones own wealth for nothing, is new to me.

Norway would be well-advised to save for when the bad times hits it inevitably in the future (oil). The purpose of savings is to have them available when they are needed - not to spend them just becasue they are there. That is the one vital lesson that European nations, America and Japan have not learned.

And just for the record, it is not as if Norway has money to waste. It'S public debts 2010 equal 44% of the GDP. That is very good compared to other nations (Germany 78%, USA almost 100%, Greece I think aorund 178% and Japan much over 200%). Still it is debt.

[Karle94]

Originally Posted by Skybird

I know that seasonal rare-light conditions lead to depressions, which can result in suicide. But that depressions lead to brainless dumping of money in black holes in an effort to waste ones own wealth for nothing, is new to me.

Norway would be well-advised to save for when the bad times hits it inevitably in the future (oil). The purpose of savings is to have them available when they are needed - not to spend them just becasue they are there. That is the one vital lesson that European nations, America and Japan have not learned.

And just for the record, it is not as if Norway has money to waste. It'S public debts 2010 equal 44% of the GDP. That is very good compared to other nations (Germany 78%, USA almost 100%, Greece I think aorund 178% and Japan much over 200%). Still it is debt.

And it´s not like any money from the oil funs is going to be used. We save it for a rainy day. We use about 4% of the income from oil every year. We have money for foreign aid, but not hospitals, schools and roads.