There are many opinions. A line from that link contains an important statement.
"Sovereign wealth funds are nothing new globally and even among Canadian provinces, but are usually financed with excess cash such as oil revenues."
Alberta has a Heritage Trust fund financed mostly by profits from oil and gas royalties. Right now it sits at about $36 billion. Would be more but we use if for healthcare, education, social programs and infrastructure.
Carney's fund is financed with Canadian taxpayer funds which should be used to pay down our national debt instead of increasing it. Although some here (well one at least), will say debt is a good thing, but compare it to our Corvette buyers who financed their cars. Your interest is compounding at a rate that you will never pay your loan off....Indeed, you aren't even able to keep up with interest alone payments. You will be in debt for the rest of your life, and your debt will get passed on to to your children. That is the status in Canada and many countries who at some point in time, their money will become almost worthless. What do you think buying a new car will coast when our dollar is worth 20 cents on the world stage.
Canada's dept is currently at just under $3 trillion dollars and the interest alone is compounding at a rate of around $250 million PER DAY! Where do you think Carneys $25 billion initial deposit is coming from? It's taxpayer money, not excess money from profits or investments. We have no hope in hell of ever keeping our debt under any semblance of control (not that we are even trying to make payments), and all our government is doing is moving money from one pocket into another and wants us to just keep filling both of them.
And we wonder why every year the provincial interest in separation from Canada increases. Especially for the provinces footing the bill.... Not sure what Quebec's excuse is though as they would be pissing away $14 billion in free equalization money if they separated.
toronto.citynews.ca
www.bnnbloomberg.ca
debtclock.io
