Norwegian Widow on a national scale

[Meadbh]

http://www.nytimes.com/2009/05/14/business/global/14frugal.html?_r=1&hp

Interesting article on how a LBYM country is weathering the recession!

 

[Nords]

Interesting article on how a LBYM country is weathering the recession!

It's easy to LBYM when the territorial waters are full of oil.

And I wonder what %% of their income the average Norwegian citizen pays in taxes in a socialist system.

 

[mews]

here is a link - the chart can be expanded - 1998 figures. I'd Google more, but it's late here on the East Coast.

The income taxes people really pay - OECD Observer

ta,
mew

 

[Brat]

The issue isn't how much taxes are paid, it is whether or not you are getting your money's worth and how much you have left over to spend as you please.

Example: Does it matter if my health insurance is paid through a tax or to an insurance company?? What I want is health care and I want my money's worth for the sum spent. Neither insurer will give me everything I want, the policy will have limits. Just don't prevent me from spending more for what I want.

 

[kumquat]

Was that Norwegian a widow?

 

[socca]

Perhaps we Americans should liberate the Norwegians from their oppressive gov't, following the template that has worked so beautifully in Iraq. Of course, their North Sea oil platforms are yearning to be free, too.

 

[Brat]

In the 'old days' Norwegian wives ran the household while their husbands were at sea. They have a long tradition of being frugal and entrepreneurial because the income derived from fishing was always uncertain and the death rate high. [The history of Foss tugs is a good example, she started the business while her husband went to Alaska during the gold rush.]

As a result Norwegian widows held tight to their purses and invested conservatively.

My great grandmother was a Norwegian widow when she immigrated, she invested in her children who immigrated before her and provided for her in her late years.

 

[MichaelB]

It's easy to LBYM when the territorial waters are full of oil.

Of the top 12 petroleum exporting countries, Norway is the only one with a high standard of living for most residents. It is also the only example of a petroleum producer / exporter in the world that actually saves it's petro-wealth and has a sustainable non-petroleum economy. Compare with Venezuela, which has greater petroleum reserves and a much lower cost of production, and probably larger and more diversified non-petroleum resources.

Large petroleum reserves have proven to be an economic misfortune for most...

Top 12 petroleum exporting countries in order or production (2006 data)

Saudi Arabia
Russia
Norway
Iran
UAE
Venezuela
Kuwait
Nigeria
Algeria
Mexico
Libya
[FONT=&quot]Iraq[/FONT]