Former Congresswoman Michelle Bachmann doesn’t have the slightest clue what she is talking about in this CNN debate with Bernie Sanders here. In it she argues that the United States of America, is not availing itself of its natural resources in the same manner that Norway is. Norway has a sovereign wealth fund, generated by its possession of oil that is owned and controlled by the people of Norway. And so thusly, it is able to have one of the most, if not the most, extensive social welfare states/highest standards of living in the world! Norway also has a state-owned oil company called Statoil, and it doesn’t take a rocket scientist — or a tax attorney of which Michele Bachmann is by trade — to know that there isn’t any such American (state-owned) entity.

All of the taxes and all of the dividends from the government’s share of Statoil goes into the sovereign wealth fund. The Norwegian sovereign wealth fund also owns approximately 1% of all of the world’s stocks, as well as bonds and real estate! And this by .07% of all of the world’s people! A total population of only just over approximately 5 million Norwegian citizens. The only thing similar in the US — to the Norwegian sovereign wealth fund — is the state of Alaska, with its permanent fund. A fund which actually gives Alaskan citizens a check (yearly) due to that state’s intrinsic oil wealth. And not only that, but I believe that it is in the state of Alaska’s constitution that all of its citizenry jointly owns their God-given booty.

And so these “socialist” policies of Norway (as well more than likely Alaska), I’d wager our dear Ms. Bachmann is probably quite frankly wholly ignorant of. In truth, I don’t understand what Congresswoman Bachmann is driving at with what she says; although, it’s probably just hating on/railing against more of that “pesky gubernment regulation”! However, if her statements actually pertained to the actuality of how oil is exploited in Norway, our “enchanting” Ms. Bachmann would, of course, be worth voting for — relating to/regarding whatever high office she may (hypothetically) be running for — come that resplendent forthcoming election day.

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