In principle, a sovereign fund is a fantastic idea that we should have done long ago.

In the specifics, I'm a bit concerned about how it's being set up, because I don't trust that "major projects of national interest" won't be narrowly defined as "fossil fuel infrastructure".

If you're Canadian you should be angry you don't already have a trillion+ dollar fund.

Canadians literally should be the wealthiest people on the planet

They have more resources and in abundance than anywhere else

This is good news but I bet it has some neoliberal aspect that ultimately chips away at how good this could actually be.

Canada announces the creation of a state-gauranteed investment vehicle that it is calling a sovereign wealth fund to ride off the good PR of Norway's sovereign wealth fund, which this resembles in (literally) name only.

I hope it can escape looting by future governments and that oversight of the funded projects is rock solid to avoid funneling money to cronies.

As long as none of the money, and none of the assets harvested with that money enters the US economy it's okay.

He still hasn't shown how he will ensure Canada won't benefit the US.

I'll wait for the official announcement, but looks to me like this fund will financed with debt. So another $25B on top of the $75B already.

The problem I see with that is that this fund won't last long enough to matter. I don't even give it a decade before a different administration quietly takes the money from that fund to spend it on whatever.

Wow, more public money going to private companies, awesome, and it is to destroy the land? Sick. So happy.

The best thing for capitalists in this country was Trump, you can say shit is "for Canadians" and libs will just fucking eat it up.

Aren’t sovereign funds generally based on principle of storing of excess wealth as investment for future generations? This sounds like Canadians are creating a fund that’s intended to be spent immediately, and they’re also encouraged to put their own money there. One would think a government should be saving money when times are good, not when they’re getting bad. It sounds like austerity, but also like public investment, so I’m confused by all of this.