by Pam Martens and Russ Martens, Wall St On Parade:

Last Thursday, Republican presidential candidate Donald Trump spoke before the Economic Club of New York. During the speech, Trump revealed that if he wins the election he will create a U.S. Sovereign Wealth Fund.

Sovereign Wealth Funds are what countries that are rich from oil exports create with their surplus budget balances in order to diversify their nation’s investments. (Countries such as Norway, Saudi Arabia, Abu Dhabi, Kuwait, and numerous other countries have Sovereign Wealth Funds.) Not only does the U.S. not have any budget surpluses to invest but it is projected to have a $1.9 trillion budget deficit this fiscal year as well as having an existing national debt of $35.4 trillion.