Canada's new "sovereign wealth fund" lacks key ingredient - wealth!

In theory, a sovereign wealth fund husbands a country's financial surplus for a future rainy day. The problem with the Canada Strong fund Carney just announced is that, lacking any financial surplus whatsoever, the entirety of the $25 billions in seed money has to be borrowed. Poilievre is correct when he says it would more appropriately be called a "sovereign debt fund." This continues Carney's string of headline-grabbing announcements which don't withstand a second glance, let alone close scrutiny. Carney gifted us the Major Projects Office, the mandate of which is to announce major projects, not to build them. He's gifted us a new Defence Investment Agency, stacked atop the existing bureaucracy, because everybody knows the Canadian Forces procurement challenges are due to a lack of management personnel. And don't forget Build Canada Homes. That new bureaucracy was intended to build new housing at scale, but actual housing starts are either stagnant or in decline since the inititive made big headlines almost a year ago. Maybe Mark can't find the necessary trades... oh-oh... here comes the next wave of TFWs!