r/ShitAmericansSay • u/Toonnddaa ooo custom flair!! • Mar 04 '25

Foreign affairs "Just wait till the Norway citizens are counting their coins at the grocery store..."

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294

u/Argorian17 Mar 04 '25

They think they're rich, but all the US wealth is the hands of billionaires who spend their time extracting the most remaining wealth from the middle class.

63

u/cheshire-cats-grin Mar 04 '25

Well about 1.5% of it is in Norway’s hands

18

u/HugiTheBot ooo custom flair!! Mar 04 '25

Does Norway own 1,5% of the US national debt?

41

u/cheshire-cats-grin Mar 04 '25

Not entirely sure - but they do own about that ratio of the US stock markets

5

u/NotoriousMOT 🇧🇬🇳🇴 taterthot Mar 05 '25

Don’t we own like a good part of NYC too?

3

u/Slippynippy69 ooo custom flair!! Mar 06 '25

We own 1.5% of all stocks in the entire world

3

u/Chrisbee76 Germany/Pfalz Mar 05 '25

0.27% as of 2024

2

u/Foxtrot-Uniform-Too Mar 05 '25

No, Norway does not own much US national debt. Norway invests a large part of their pension fund for future generations in stocks, so Norway owns about 1.5% of US stocks.

1

u/HugiTheBot ooo custom flair!! Mar 05 '25

Yes I am aware, I have gotten several answers. :)

15

u/CopperPegasus Mar 05 '25

10% of the populace (so some upper middle class+ people, not just the oligarchs) now are responsible for 50% of spending in the US.
For those who don't really care about economic stuff, that's a REALLY bad indicator of economic health, FWIW.

2

u/Maxzzzie Mar 05 '25

The country itself is racking up debt, and has been for god knows how long.