elvis
Rookie
- Sep 15, 2008
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- Banned
- #21
OSLO - When capitalism seemed on the verge of collapse last fall, Kristin Halvorsen, Norways Socialist finance minister and a longtime free market skeptic, did more than crow.
As investors the world over sold in a panic, she bucked the tide, authorizing Norways $300 billion sovereign wealth fund to ramp up its stock buying program by $60 billion or about 23 percent of Norway s economic output.
The timing was not that bad, Ms. Halvorsen said, smiling with satisfaction over the broad worldwide market rally that began in early March.
The global financial crisis has brought low the economies of just about every country on earth. But not Norway.
With a quirky contrariness as deeply etched in the national character as the fjords carved into its rugged landscape, Norway has thrived by going its own way. When others splurged, it saved. When others sought to limit the role of government, Norway strengthened its cradle-to-grave welfare state.
And in the midst of the worst global downturn since the Depression, Norways economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.
NYT: Thriving Norwayâs economics lesson - The New York Times- msnbc.com
Another socialist post. European countries have enjoyed CONSISTENT double-digit unemployment over the past 10-15 years. I pray to God socialism doesn't come here.
Steven Colbert made fun of you right wingers last night. You guys don't even know the difference between socialism and fascism.
Stop using words you don't understand.
Uh, I know the difference, you daft ****. I didn't mention fascism in this post, so shove it up your ass, you lazy fat fuck.