American Reacts to Why Norway is So Wealthy | Part 4
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- čas přidán 8. 04. 2024
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As an American I have heard that Norway is one of the wealthiest and happiest countries in the world. Today I am very interested in continuing to learn about how Norway is quickly becoming the richest country in the world. If you enjoyed the video feel free to leave a comment, like, or subscribe for more!
From about 1850 to 1970 norways trade ship fleet was the 4th largest in the world, that was importent for our economi in that period.
I came to Norway as a child with a host of issues. Issues that would have potentially placed my family in unrecoverable debt had this been in the US. In Norway, those issues were mostly covered by the medical health fund, including dental and surgery, etc
Now I am fit as a fiddle with almost all my health related issues taken care of.
Mind you, this was in the 1990s, and the Oil Fund was in its infancy, but it still prevented potential financial backlash for my family.
I’m proud of my country 🇳🇴😍 We are so ahead off most other countries.
I enjoy your videos, Tyler😊
We have been quite shit for the last 3 years
@@Forktoucherz I agree, but compared to many, many western countries, we’re still going strong , Innovation, environment, social equality, work life balance, and of course the way we invest and save our oil fortune. It’s not so bad.
Im NOT proud in general. Oh sure alot of nice things accomplished, but in general from 1805 to now there have been alot of depicable shait coming from any political direction etc Total ruin of the sami culture, spiritism having them fight each other, the sea and inland sami. Christianity forced down their throats because eff ethnic practises, believe in our " god " and you shall like it. Also alot of EU dongsucking and undermining local democratic processess to convince and force damn windmills into every spotvavaiable. Green energy.. suure! But at the cost of the environment in looks and the windmill parts are NOT recycable!!! EU assaults our sovereignity with directives that undermine decicions we do well with. F.example we have Tomra and Infinitum for bottle recycling system, very efficient but NOPE EU suitscum wont use that but force US to use their twice as demand and inefficient recycling. Suspect its in spite of we setting high toll on crappy goods from EU
Ahead in some parts, not so much in others like equality, human rights and so on, especially for minorities, which is a joke compared to the reputation we like to pride our selves on. The denial, hypocrisy and gaslighting… But when you belong to the majority population🤡
@@Forktoucherz Facts! Guess the wrong political party is ruling the country..
It’s getting worse (or better) for Norway. In excess of 70 billion tons of phosphate depositum has been discovered on land. This is bigger deposits than the rest of the world together. Mostly used for fertelizer and the electronic industry. The knows depositum has a potential value of 10 trillion US $. And; we may very well find more (???)
It’s almost a little bit scary !
Det er for godt til å være sant... Det er nesten som jeg føler synd på andre land slik de styres..
Well we can't dig it up today because it's so deep in the water right now, but i bet it's a learning curve along with the oil rig we had in the 1960s but it's kinda good news for us norwegian because we are indirectly saving it for the future and meanwhile the oilfund could continue too growth and when the other countries has less of phosphate hopefully we have learned how too dig it up and the prices would also go higher up because of it and the demand of it would also be even higher that will press the prices even higher.
Norway also have some of the largest deposits of Thorium, something that is getting more and more common to use in medication. And other European countries are planning to build molten-salt reactor's that can use thorium as fuel. Fensfeltet has thorium and other rare earth metals that is more then the oil fields and just like with the phosphate deposits, so it's easy to access.
its not 3% of the total fund that can be withdrawn, only 3% of the annual revenue that can be withdrawn
There are a lot of Norwegians that doesn't know this.
Incorrect. It is 3% of the total value of the fund. But it is now so big, that one doesn't need to use the entire 3%. (Last year 410 billion NOK was spent, which was 2.7% of the fund).
@@Mosern1977 Yeah, the rule is to not spend more than the reasonably expected revenue which is where the confusion probably comes from. Initially set at 4%, but later downscaled to 3%.
That's wrong. It's 3% of the total value, which is because that is the expected growth.
@@jeschinstad Ok, I'll look into it. If I'm wrong I'm wrong. :)
We Norwegians are very proud of our country and history!
I and from norway🇳🇴😊
Depends on what story you wanna tell…
And very ashamed of our government
Yup
@@mortimersmithsr2522yup, I’m unhappy that they spent money on a bike road from Sandnes to Stavanger but not spending on hospitals and education stuff
Hi Tyler,
Thanks for all the educational and entertaining videos that you have provided. I'm born and raised in Norway and educated in the US where I also have lived for more than fifty years. I find your videos about Norway entertaining and very well informed. A little tidbit that you might find interesting is that in addition to the oil and gas, Norway also have significant coal reserves on Svalbard (the mines are currently decommissioned - as you know, coal is not considered environmentally friendly today). Finally, as one of your seers already have commented, Norway has also found large amounts of phosphates (rear-earth minerals) that might dwarf the wealth created from oil and gas. In fact, it is expected that the size of this find is larger that all known phosphate-reserves in the world today combined!
Consider the pattern Tyler releases the parts of this series, I can see it's going to take at least 4 to 5 other Norwegian videos before he will make a part 5 of this series. I'm kind of sad that not many people enjoy or patiently sit through these kind of dense video essay, reflected by how slow the views is. Via watching Tyler's videos, Norway is slowly becoming my favorite, number 1 country on my wish list where I picture myself settle down in. In my eyes, Norway just won in every department, and I enjoy the cold as well. Norway is like that calm, cool, and collected kid who won the lottery but still thinks that he's poor and sticks to his day job. That mindset is where I want to surround and immerse myself in.
We have won the lottery by being born and live here, but unfortunately many people doesn't understand that. Especially the ones that doesn't travel to other countries than Spain, Greece and other "Norwegian destinations". I take comfort in that the loudest people on public comment sections are not the majority of the people 😊
I think Tyler would have a great channel if he responded to his comments
If you decide to immigrate, try to avoid living in Oslo. Go further north! 😊
@@catsandcrows8880 why? Oslo is great! Expensive, but great 😊 I have lived here more than 14 years now and wouldn't wanna live anywhere else
Can't wait till you get to the end of this vid!
It's so good !!
Yea! The Best part is still to come, incredebly enough..
You sort of missed the part about the maritime industry (before oil). It's in the video, but didn't seem to stick with you for some reason :)
17:25
We do rely on other countries to survive, but for food, not energy.
We produce many times more food than we need though, so we don't rely on other countries for survival. There's a lot of nice things to have, like cars and computers, but survival is not an issue.
@@jeschinstadWe don't produce many times more food than we need. Search up "Selvforsyningsgrad". If we didn't export any food we would be at about 90% of what we need to survive.
@@jeschinstad
Fish raised in our fish farms eating food produced from foreign fish that's endangered or local cows, pigs and chicken feed food made from soy etc imported from former rainforests really doesn't qualify in my book...
As for our sheep...
We're using silly foreign breeds instead of the hardy ancient sheep breeds we used to that had horns and the sense.to actually run from or fight predators...
And the 3% of Norwegian land suitable for agriculture isn't even *close* to making us self sufficient, and is often inefficient...
No, we need to establish emergency food stores in case of a emergency.
@@Luredreier We need more than 1-3 months of the grain storage we have today. Even 6 months that many suggest is not enough. In case of a year 536 event, 12 months seems better for a country like Norway. That said, we could probably eat less bread and red meat, without huge consequences for health.
To survive? No, thats like saying I rely on the restaurant down the road to survive. I eat there, if I didn’t eat there I would eat somewhere else not starve.
Part 5 is an interesting look into the future of Norway, and if you need more to react to i can open a huge back hole of things. Vikings and Norse History :-)
Norway have always made more money on the fisheries than wood. A lot lot more.
No. The aquaculture is fairly modern and has taken over for wood and paper, but those used to be very, very big.
The fishery farms are great in concept but brings ruin to the environment with wannabe, bloated salmon and trout filled with utter shait. Oh and the suits at these firms like Salmar etc threatens their worker losing their jobs if didagreeing. The employes acted like they had " Stockholm " syndrome protesting agains higher salmon tax😂 The whiny owners moved to Switzerland because they could fatten themself into oblivion while also not increasing the workers salaries😂 THATS the thanks for being born in this country, making opportunities avaiable for them to get where they ended up. As CEO of a fisher farm firm. Hope they choke on their barely deserved wealth!
@@jeschinstad Wood has never been bigger than the fisheries. Our fisheries was our biggest and most important source of income before the oil.
A big part of our culture as a nation, is showing gratitude towards our ancestors that made this country and our way of life possible in the first place. And the best way we can show that appriciation, is to pay it forwards, so we can ensure that future generations will have benefits and a secure national economy to build their own futures on, when we are dust and bygone memories.
In essence and at our best, I think a lof of our culture boils down to this old Greek/Hellenistic proverb:
“A society grows great when old men plant trees in whose shade they know they shall never sit”...
Really like ur videos about Norway Tyler 👍👍, no matter what subject u choose, humor society or economics.But like someone said below,our marine / merchant navy has been a very big part off this. At one point Norway had the 3rd largest merchant fleet in the world at one point, if i'm not mistaken ; ) Just during WW2 England wouldn't been able to survive with out help from them, i sendt u an link earlier that mention this ; ) Have a good one take care an stay safe my friend ; ))
We are in a really good posision for future generations! Just a little note according to wind energy: Huge areas in the mountains/coastal hills, is destroyed by wind"farms", and possible new areas for the wind-industry are bound to meet more and more protest. The planned wind"farms" outside the coast is VERY controversal, both because the cost (floating turbines/towers, not grounded on shallows) will be astronomical, and huge conserns of marine life/eco-systems, and from the fishing industry.
I don't necessarily agree that the areas are being destroyed. There are wounds, but wounds heal. The destruction that the co2 emissions causes, however, is enormous.
@@jeschinstad I have to agree on that. Not a huge fan of all the resistance against wind turbines in Norway.
This time you got almost everthing correct Tyler, congrats 🙂
Love youre video s
And loving living in norway ❤
I’m so glad my country is Norway 🇳🇴🇳🇴🇳🇴🇳🇴🇳🇴🇳🇴🇳🇴🇳🇴🇳🇴
Honestly it depends who has access to it
What it doesn't say is that even though we produce or can produce this much electricity, the government decided to export to Europe because Europe has a shortage and that is creating a shortage in Norway that is boosting the prices for electricity so high that the common household can't afford their bills. So as much as amazing this sounds, there is a back-draw about it also.
Norway is fortunate in so many areas.
rest of his video would be nice.
you can follow it live on this link
We should definitely use our wind potential better, people complain because wind turbines look ugly in the landscape and is loud if to close. But there is a lot of potential for wind power that is still untapped in Norway for sure.
We don't need wind power, it's just stupid to spend time on wind at this point. upgrade the water turbines and we have tripled the power output without destroying any more land and without the need to spend more on maintenance
@@my1nzfe This is not correct. Upgrade could give 6.4 Twh according to NVE. That is like 5% increase. A piss in the ocean...
@@okklidokkli kommer nok an på hvor du leser, oppgradering av eksisterende kunne utgjort like mye som vi i dag produserer fra vind, men bygg nye moderne anlegg med effektive turbiner så har vi mer enn nok og hente. å det burde ikke vært en vindmølle og se før dette var gjort. vindmøller er ikke veien å gå.
If you we're to visit Norway, What is your top 10 things you want to see and experience, Tyler?
Today's value of Norway's oil fund is NOK 17,315 billion. In American currency, it is about 1,688 billion dollars, if I have not miscalculated here.
That's correct. Altough it has changed with $700 million since you were written it down. Lol.
It's so huge that the oilfund has dropped $40 billion last week, but it is expected too drop 40% within the next few years if the norwegian currency would become strong again.
Yes, the fact that US, English changed the meaning of billion makes these numbers hard to translate
1,688 billion = 1.7 trillion, right ?
@@QazwerDave But it is 1626 billion dollars, so it's 1,625 trillion dollars.
English: 1 billion means 1 milliard in Norwegian. 1 trillion in English means 1 billion in Norwegian. 17 billioner Norwegian Kroner mean approximately 1. 7 trillion US dollars.
Yes ❤
We export most of oil and gas because we have hydro power.
If I’m not mistaken the fund is now at 1,7 trillion dollars and expecting to increase to well over 2 trillion by 2050
From 2011 to 2023 the found 5 doubled..
It will reach 2 trillion dollars before 2030, probably within a couple of years. It was 1.2 in 2022
We are more and more dependent on other countries for food. Norway is not good for its farmers😢
I can't think of a country that subsidize the farmers more than Norway. Small tiny tiny farms that could never exist outside Norway, is spread all over the country.
This video is pretty accurate.
Yet, we still can not get the minimum pensioners over the poverty line.. What a shame..🤷
Nonsense.
@@steinarhaugen7617 Today, a single minimum pensioner is paid in excess of NOK 250,000 a year. It is below the EU's poverty line, which is around NOK 275,000 after tax.. Google it..
@@steinarhaugen7617
Today, a single minimum pensioner is paid in excess of NOK 250,000 a year. It is below the EU's poverty line, which is around NOK 275,000 after tax..
Google it, and see yourself
Not to brag or anything, but Norway also discovered the world larges deposit of posphate wich is used in fertilizer. Norway single handedly doubled the world`s discovered posphate deposit.
Norway has so much to be thankful for, but one thing they don't have that much of is cultivated land. Let's hope they can produce enough to remain independent. (But they can always buy what they need 🤣)
So. It looks like this came out of nothing. It happened because we were lucky. But who else could have done this ? Only Finland I think. It must have come from an "innocent" country that no one hates, or are jealous of. Because if a bigger country would be jealous of us, then it could turn into a big problem..It's almost like this was supposed to happen. It's a model for other countries.. We are not the only oil rich country.. Will others copy us ? They have to do it.
3% of the funds earnings, not of the fund itself.
Norway isn't perfect, but darn close
Incorrect. The amount that can be used of the fund is of the revenue. I.e. if you have $100 to invest - and for a year you gain $10 on those $100 - you are only allowed to spend $0.3. (3% of $10) The remaining $9.7 must go back in the fund - so for the next year it would be $109.7. Thus growth of the fund itself is almost guaranteed. Repeat for every year.
No, its 3% of the total. So you can spend $3 if it is $100. Next year the fund would then be $107, and you can now spend a tad over $3 that year.
How do I know this is true - because the government spends 400 billion NOK on propping up the welfare state each year, which is just below the 3% of the size of the fund.
@@Mosern1977 Wrong! You assume that all the funding is from the oil fund. The majority of funding is from taxation.
From RegjeringDOTno "Bruken av fondsmidlene skal over tid følge forventet realavkastning av fondet, anslått til 3 pst."
Notice the "realavkastning". I.e. not 3% of the entire/total fund! Exactly as I explained in my post.
@@jarls5890Han har rett. Det er 3% av hele fondet. Uttak fra fondet skal følge realavkastningen (som har vært på 3,1%) slik at man ikke tar ut mer en man forventer å tjene. Det er ikke 3% av realavkastningen man henter fra. Realavkastning er også bare ett fancy ord for avkastning hvor man tar høyde for prisvekst. Med andre ord sier siteringen din at uttak skal følge forventet avkastning fra fondet.
3% av hele oljefondet i dag er ~519 millarder kroner. Dette er omtrent like mye som blir spyttet inn i statsbudsjettet fra petroleumsinntekter. Hele statsbudsjettet er på mye mer, men dette er det som kommer fra oljefondet som Mosern sier.
@@jarls5890 you are wrong. This year we spend 2,6% of the funds value at the end of 2023. It's actually in your quote; we spend up to the expected return on investment, which is set to 3%.
@@jarls5890 du har misforstått.. de kan bruke 3% av hele oljefondet fordi forventet avkastning er 3%. På den måten går ikke fondet i minus. I år er det lagt opp til 336 milliarder, noe som er et mye høyere tall en 3% kun av avkastningen
as for right now its worth about 17300 billion norwegian crowns
The value of the fund is generally badly represented with NOK. The reason is that the value then depends on the value of the NOK. When NOK becomes less worth, suddenly the oil fund will massively increase in value. The newspapers love this trick. The truth though is that the purchasing power of the fund doesn't change with the fluctuations of the NOK.
@@danimyte3021 Of course when you see it in NOK it will go up and down quite rapidly, if you take a look at the link i shared you can see how fast 😀It is the top page. ;-D
The US has something even better than the oil fund, it has the world's reserve currency. In other words, if it needs a trillion USD, it just prints a trillion USD, and exports the inflation.
Can you explain this? How do you export inflation?
@@okklidokkli You buy stuff from foreign countries, and pay with your own currency. But the foreign country just keeps your money for safekeeping and as currency resereve.
So you have rid yourself of your inflation, and USA has this very special ability due to having the global reseve currency.
@@Mosern1977 This only works as long as it's not exploited too much. If the dollar value starts dropping, countries will take measures like forcing trade in their countries to be in their own currency or a different big currency like the Euro. The world economy will be in shambles for a while and it's a lose lose situation.
@@danimyte3021 - yes it is dependent on US actually being the biggest and most powerful nation, and that it isn't used too much.
Modern fiat money is based on perception of trust. As long as that remains, its all good.
And Still you havent even reached the moest Significant and Importent point in this vodeo 😉👍
Please Do Not skip part 5 of this Tyler, it will Blow your minde!!
And yet after decades in this very wealthy mountain land, poverty isnt eradicated aswell as getting all the poor eased into the job market and get a decent living. The ones earning alot blame all the poor for being lazy and exploitative, that they wont work because of NAV. There are cases but most ethnic and foreigners WANT to work! Calling them lazy is damn golden coming from the rich CEOs with their moneyfat arses solidly planted in comfy office chairs😂 Lost connection to real, earnest PHYSICAL work.
Best regards from an ethnic norwegian!
This is where the average American finds out his is not living in the greatest country in the world and he has been lied to all his life .How does that feel Tyler when you see life outside of your American bubble. How other countries look after their citizens and America couldn't care less about it citizens.
Fish, anyone?
React to norways recently discovery of the biggest fosfathe discovery ever, and what it's worth😂
🥰 phosfate
Norway has 16,3T kr
Don't be jealous of our hydro and wind power, all that water has to come from somewhere, and belive me we have a LOT of wind and rain
West Norwegians be like..
What do Norwegian pay for gasolin or diesel ????❤❤❤😂😂😂
1.7 trillion dollars
it's 1,625. No reason to exaggerate.
Bensin 23 liter😢
Kr liter
@@kjellarnesen2893 Det har økt massivt i pris i alle vestlige land. Største grunnen er at Russland ikke lenger leverer billig olje til Europa.
@@danimyte3021 Fordi USA med hjelp av Norge ++ sprengte NordStream
Allikevel er bensin i Norge ekstremt billig om du ser på inntekter sammenlignet med andre land. Ja, jeg vet at ikke alle tjener nok og at det er dyrt..
Please, don't be jealous of us Norwegians. Because we have an expression in Norway, which tells a bit of how things have turned out; The more money you have, the stingier you are. And this goes beyond the Norwegian people. The government is the problem, they distribute large sums to countries with various problems, while they are supposed to save on all their own land. We can point to the Armed Forces, which were reduced violently in the 80s, we see that emergency departments are becoming fewer and fewer. Just having to give birth can require a lot of planning, because you have to travel far to give birth safely. We can look at the road network, which already in 2005 had a maintenance backlog of over NOK 330 million. Government buildings had a backlog of almost 400 million. Mental hospitals disappeared. In other words, Norway is far behind other countries in maintaining, building and developing the country for the future. Sure, both wind turbines and solar cell plants are being built all over the country, but that is because the government wants to help the EU with electricity, even though the EU itself already said in the 80s that they would start using more nuclear power to produce electricity, so they could get rid of coal and oil power plants. They have now tried solar power and wind power, it worked very poorly, so now they are going to build atpm power plants. And Norway will be left as a cliff with propellers that are not needed.
Exactly!
Tja. A lot true here. But saying that we are in a bad situation is wrong. Remember after the oil we have almost nothing....That's why they SAVE.....SAVE......It's the only explanation....Actually, we have phosfate....
Det er en STOR feil her. Solcelleprisen har falt så ekstremt at dette vil være hoved energikilden om 30 år.. Vi vil merke det allerede kraftig om 5 år. Strøm prisen blir negativ store deler av sommeren fordi vi har overskudd av solkraft.
@@gautearefjord RART ! For mens de fleste andre sier at solcelle er på vei ut, sammen med vindkraft, så sier du at solcelle vil være hovedkilden om 30 år ? Det tror jeg du tar feil, for dagens Atomkraftværk produserer mye mindre avfall enn de gamle som noen land fortsatt har i drift, mao så er det idag flere og flere EU land som ser på atomkraftværk som den fremtidige hovedkilden.
why don't you have something like that in the US ? Capitalism.
The more Americans I see on X, the more I hope that you actually represent the US average...
We does not see much off the oil revenue and we have tax on tax on tax, we are being taxed to death. The money does not go the workers we miss in doctors, farmers, nurses etc
If we had done as you said, we would have walked right into the oil curse!
@@norwaybaba3381 He is one of these few who does not understand much.
@@steinarhaugen7617 You are more busy talk about the person, then the topic tells me more about you.
Norway have some off the dutch disease
@@norwaybaba3381 Norway need much people in many sectors. Should Nord Norge and Finnmark have the same hospital offers? Much talk off closing down some off the offers that they up in the north. Shouldt every municipality have doctors to their residents? (fastlegeloven)
Farmers for Norway self-sufficency?
@@philip4588 You are extraordinarily stupid. What you say makes no sense. If you have bad finances, that's just fine.
Yeah, Norway became rich by taking advantage of war and increased oil prices, weapon and ammo sales.
Doesn't sound like a very sustainable or ethical way to become wealthy to me.
Norway do not control oilprices or wars
@@Cta2006 i didn't write that they did either. But they take advantage of them, which is why Norway has become rich.
@@DefenderX Norway has been rich for centuries.
@@DefenderX So when Russia closed down their oil and gaz exports to Europe, we should not have helped United Kingdom, Germany and other countries in Europe ?
Norwigians love christianty actually we Are so rich that only 5 million of our pepole live in our country when we have 20 million norwigians speakers more than sweden and denmark
Tyler go east
Half of all the food that is consumed in Norway is made abroad and imported into Norway. We rely heavily on other countries to survive. Norway is the least self-sufficient country in the World...
Ooh, $1.5 trillion. Apple alone has a market cap above that. Add in Amazon, Alphabet/Google, Microsoft, Walmart and so many more….
Ye u dont understand econ. As the fund is a invester and not a Company for others too invest in
Its incredibly impressive how abysmal your understanding of this is, trying to twist it to your trolling views.
🤦
@@dannyboy1789 just report the loser
For a more relevant policy comparison, trumps tax reductions increased the us national debt by over 7 trillion USD...
100% reliant on the US to protect us tho. =P
No, that's an exaggeration. USA is very important, but it's not like Europe would be defenseless otherwise.
The state is more wealthy then it's ever been. Not the people. Not since after WW2 has more people been in a food line in Norway then now. The elders used to be able to get into nursing home very easy when i was young. Now it's very hard. And the crime rate is skyrocketing. Our corrupt politicians does not care one bit. So it's not looking good for the average Norwegian in the future, because all that money is not meant for us.
Yes,it is going in the wrong direction with theese politicians we have at the moment.And they sell a lot of our green energy too.
Absolute nonsense. Almost everyone in Norway is wealthy, even if you are not. You are the exception. We call it losers!
@@steinarhaugen7617 I would never call anybody a looser.Money has nothing to do with the value of a person.Yes,we are lucky to live in Norway.And I know I am well off.But that doesn't mean the corruption among the ruch is ok.
You have to stop watching these right wing propaganda channels. The things you are talking about is exactly what Putin want. Angry, mistrust of government and politicians and in general hateful people who can spread mistrust. Where you see bad things, I see good things and a country that is going in the right direction and not into a right wing country full of hatred!
The crime rates are not skyrocketing, at all, so I'll assume the rest of your post is also opinion, not fact.
You have the Republican party and Trump, sais it all🤪
Not a solar “power” ….
Slutt med dette tøvet😡
America’s annual GDP is nearly $30 trillion, so the debt isn’t bad.
Besides, we’re not into big govt and sovereign wealth funds. We prefer our businesses to be wealthy - and they are.
American cooping hard😂
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@user-kq5ke5yb6k
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- I wouldn't bang my chest too hard if I were you...
I suggest you instead go check those numbers again.
The picture is even worse than you believe.
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CZcams needs a derpface reaction
@@trulybtd5396 ? Please elaborate
Well you prefer that only about 1% of the population is wealthy and the rest strugle to make it from month to month!
but hey keep on with the fantasy that the US population are a well off population!
It does not make it true no matter how many times you try to brainwash yourself about it!
And also GDP is a bad mesurment on how the country as a whole is economicly!
The U.S. is the ONLY country with a population above 10 million that is in the Top 10 of GDP per capita.
It’s easy for, e.g., tiny Monaco, to be in the Top 10.
Global stage?
Its economy is too small to be in the G20.
It’s not a P5 on the UNSC.
You seem to be getting more and more stupid for every comment you write.
Do you realize the damage it would cause to the global economy if the U.S. ran budget and trade surpluses? (No, you don’t.)
Yet the world call the US the words richest underdeveloped country. There are many insainly wealthy people in the US, but the majority of people are much more poor then most developed countries.
That’s why so few are rich.
Tyler, one would think you’d be more impressed by a country that invents stuff, makes products, performs services, grows food, rather than merely extracts local dinosaur juice.
Per person Norway invents more stuff.
Grows food? Artificial fertilizer was invented in Norway.
America doesn’t make many products, a tiny percentage of the items I own are american. If you can call an iPhone american when it’s produced in China.
@@jrgenb8107 Don't waste your time on this guy, he's comparable to a bot.
It's funny how uneducated you are appearing to be. You really think because the US has a gdp of nearly 30 trillion $, you'll be able to pay off 30 trillion $ in real debt? Do you know what gdp is? Do you think it's physical money in a bank? The US will never be able to pay off its debt without going absolutely bankrupt. You have some filthy rich US Americans, but 4/10 US Americans would struggle to pay a surprise bill of 400$ and the middle class are struggling big time, not to mention the vast amount of homeless people you have there.
Have you ever eaten? Then you will have enjoyed a Norwegian invention that was pretty significant to the world - artificial fertilizer to mention one. It's impossible to argue with stupid, so I'm just gonna leave it at that and hope you'll feel better in the land of the "free" and home of the "brave".
You do realize that only about 6% of the Norwegian workforce works in the oil industry right? In comparison about 5.6% of the workforce in the USA works in the oil industry. Not that big of a difference.
Why learn from Norway?
Over 30% of the world’s wealth is held by America/Americans, despite being only 4.5% of the world’s population.
I bet the 1% who owns the most wealth in USA are eager to share it with you and the 700 000 homeless people there.😂😂😂
Sure. The 0,01% wealthiest holds most money and their wealth is rapidly growing so much more than anyone can imagine. I don't think they will pay their share!