Norway, the land of millionaires

[cmptrwlt]

Originally Posted by mysticaltyger

This link posts a less rosy financial picture of Norway's citizens whose debt loads are now 200% of that country's GDP, which is higher than consumer debt levels in the U.S. Who knew I'd actually agree with Paul Krugman?

Nordic Crisis Waiting to Happen Puzzles Krugman Assessing Debts - Bloomberg

Remember, subprime mortgages, CDS, etc. do not exist in Norway. There is a shortage of houses in the Oslo region, so a massive crack is unlikely. I can easily afford to pay 10% interest on a $240,000 mortgage.

[Bamford]

Originally Posted by Lusitano_

Lucky?

Unlike other countries that had the kind of same luck they have invested and invested the revenues they got from Oil sources.

Their belief is that the revenues is not theirs to spend but to creat wealth for future generations, hence the biggest wealth fund in the world which has been a result of the investing of those revenues year after year in all kinds of investment vehicles

He spits his dumby out and throws a tantrum.

In terms of the UK, we haven't built an economy on North Sea Oil anbd Gas because it only constututes a tiny percentage of our $2.4 Trillion Annual GDP.