And what does “destroying” the group really mean? Our experience with al-Qaeda should have taught us to ponder that question long and hard. We killed innumerable “number three” leaders of al-Qaeda, we killed bin Laden himself, and we have rendered Ayman al-Zawahiri a largely irrelevant fugitive. We have in effect destroyed the organization, or at least as much as can be expected from more than 13 years (yes, the process started before 9/11) of destruction. But the methods we really were worried about lived on through a metastasis that led to the emergence of other organizations. ISIS is one of those organizations. If ISIS is “destroyed,” there is little reason to believe that the methods we most worry about, and associated ideologies, will not take still other forms.
There will always be “monsters” and monster-hunting forever is not sustainable.
For while other countries have struck oil and then binged on the revenues, by contrast Norway is continuing to invest its oil and gas money in a giant sovereign wealth fund.
The fund, worth about $800bn (£483bn), owns 1% of the entire world’s stocks, and is big enough to make every citizen a millionaire in the country’s currency, the kroner. In effect, it is a giant savings account.
1% of all the stocks in the world. Crazy (smart).
We’ll see how this plays out in the long run, but it strikes me as smart for any “boom” town to diversify as much as possible when they can — before they can’t, and they’re screwed.
It’s called the Alaska Permanent Fund Dividend (PFD). Yes, it’s smart, but oil is finite, it’s expensive to run a state, and not everyone spends the money wisely.
In the digital age, we are nearing the point where an idea banished by Twitter, Facebook and Google all but vanishes from public discourse entirely, and that is only going to become more true as those companies grow even further. Whatever else is true, the implications of having those companies make lists of permitted and prohibited ideas are far more significant than when ordinary private companies do the same thing.