Legacy fund?

[Rowdie]

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Hmmmmm

 

[Happycamper]

I would like to see just how much money is stashed away in various funds such as The land and mineral trust fund.

 

[Kentucky Windage]

i guess i disagree. but, that's fine. when the oil is all gone, this state will still have the mess to deal with and the infrastructure to take care of that was put in place with tax dollars as a result of this boom. imagine this scenario if ya will: state operates on a budget much like you suggest. spends only what it takes in and takes in only what it spends. for X years that number is roughly 10 billion (for example) 50% of which (for example) is fueled by the economic activity in the oil fields. when the oil dries up (i know it won't happen overnight), do you think the state is going to be able to cut its budget from 10 billion to 5 billion to account for the loss without significant consequence? without $ in the bank (legacy fund) or some other unforeseeable income in the future, we would go from running well in the black to significantly in the red in a matter of a decade. almost seems like planning for retirement i guess. just seems wise.

We’re talking about the government, right? In your scenario, they will keep spending 10 billion when they are only taking in 5 until they run out of money. Then they will rack up 10 billion in debt before fighting with each other to see who’s budget (program) gets cut. Then they won’t be able to agree on anything so they will leave everything the same and just raises taxes.

 

[espringers]

yeah... and thats where the interest on the legacy fund comes into play. assuming a decent rate of return and continued inputs over the next 20 or so years, that fund should be in the 40-50billion range relatively easily by 2045ish. interest on 50 billion will be what? 4 billion/year? that's what i was getting at.. the interest alone should be able to help fend off a budget catastrophe.

 

[johnr]

yeah... and thats where the interest on the legacy fund comes into play. assuming a decent rate of return and continued inputs over the next 20 or so years, that fund should be in the 40-50billion range relatively easily by 2045ish. interest on 50 billion will be what? 4 billion/year? that's what i was getting at.. the interest alone should be able to help fend off a budget catastrophe.

The feds will take it eventually

 

[Dirty]

I think we should spend the whole fund on masks so we can all wear at least two of them all the time.
definitely need pro-trans and anti-racial injustice messages on them also…well worth the additional cost.

 

[TFX 186]

I'm not really sure who would've been ok with investing in Russian shit to start with? Not just because of the Russia/Ukraine war going on now, but at all.....ever! I would think the (so called) smart people investing could do a better job of picking investments. It would be like investing in China after all that's been done over the past Covid years. Or ever. FRICKEN IDIOTS.
Fish On!

 

[Rowdie]

I'm not really sure who would've been ok with investing in Russian shit to start with? Not just because of the Russia/Ukraine war going on now, but at all.....ever! I would think the (so called) smart people investing could do a better job of picking investments. It would be like investing in China after all that's been done over the past Covid years. Or ever. FRICKEN IDIOTS.
Fish On!

This is why I started this thread!!! Well Said!!!

 

[Wall-eyes]

So your saying if joe blows mineral check from continental is 10k the state takes its cut out of that 10k? Then they take an equal percentage from continental on the remaining amount?

Bingo I do know this because I store some fancy vehicles for a guy north of DunnCenter in heart of the Bakken, has more wells than man and moon he and his brother.

 

[Up Y'oars]

I can understand the State Investment Board doesn't want ALL of the investments they've made known to the general public/media because that really could put their money AT RISK and exposure.

However, it yanks my chain that the board pulls the lawyer action in responding to the media and open records requests. It only equates to the Board hiding something and tarnishes the transparency necessary to keep Johnny looking forward with the red face test. This issue with the funds being invested in Russia/China should've been a "Flag" in the very beginning and the Board should've known that would not be the best place to invest money! Wouldn't ya think? Seems like the SIB is acting much like the Higher Ed Board, for some unknown reason.

 

[NDbowman]

There used to be a site where you could track what Pelosi was buying and selling in the markets but it was taken down. I guess it was fool proof, you just bought what she bought and you were going to make money.

They could have just invested our Legacy fund into the same stuff Pelosi was buying, we'd have made money at every turn.

 

[johnr]

There used to be a site where you could track what Pelosi was buying and selling in the markets but it was taken down. I guess it was fool proof, you just bought what she bought and you were going to make money.

They could have just invested our Legacy fund into the same stuff Pelosi was buying, we'd have made money at every turn.

Yup, part of the criminal government insider trading that is perfectly legal when you make the rules for others not yourself

 

[Up Y'oars]

There used to be a site where you could track what Pelosi was buying and selling in the markets but it was taken down. I guess it was fool proof, you just bought what she bought and you were going to make money.

They could have just invested our Legacy fund into the same stuff Pelosi was buying, we'd have made money at every turn.

Are you referring to the website, https://unusualwhales.com/, which has been notorious about following those insider buys/sells from our politicians?

 

[Kurtr]

I'm not really sure who would've been ok with investing in Russian shit to start with? Not just because of the Russia/Ukraine war going on now, but at all.....ever! I would think the (so called) smart people investing could do a better job of picking investments. It would be like investing in China after all that's been done over the past Covid years. Or ever. FRICKEN IDIOTS.
Fish On!

Actually investing in a diversified way is a smart thing. Politics and emotion should play no part in it if you are smart. When one sector is not as good you want to be spread through so others will not affect you. If you only stay in domestic stocks or funds you are loosing out on a lot of opportunity

 

[Rowdie]

Too bad they took down the stock tracker of Pelosi. I heard it was on Twitter too.