All Norwegians become crown millionaires, in oil saving landmark

OSLO (Reuters) - Everyone in Norway became a theoretical crown millionaire on Wednesday in a milestone for the world's biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices.

Set up in 1990, the fund owns around 1 percent of the world's stocks, as well as bonds and real estate from London to Boston, making the Nordic nation an exception when others are struggling under a mountain of debts.

Norway's economy and wealth, when analyzed can be compared to one of those third world middle eastern nations. Their biggest export and source is Oil, and they seem to be more and more solely building everything around oil. It's a good time to be Norwegian these days, they are rich as heck, but one day that oil is going to run out or be replaced, while Norway's other European neighbors have been building real sustainable economies and markets.