Singapore so rich; yet so poor. Debt to GDP 100%. $331B in DEBT.

[shctaw]

I wonder how can a rich person be in debt up to his throat.

It is like Li Ka Shing owe the world all the money to be rich. It just do not click.

We owe $331B; I just wonder whom we owe it to?

We are not far away from Greece and Portugal.

http://www.investinganswers.com/edu...ountries-drowning-government-debt-greece-4385

 

[Equalisation]

Hoi !!:

Give us back OUR hard-earned Cpf money at age 55 !!!:oIo:

 

[eErotica69]

OK guy, before you KPKB, read the content first!

 

[watchman8]

Don't raise false alarm. The money is raised by MAS in form of sgd bonds. These bonds are largely bought by CPF. MAS does not spend these money, but stores it under foreign reserves and some transfer to GIC.

This country will not go bankrupt as there is little debt in foreign currency. Mostly in sgd. So just like Japan and USA, if not enough money, just print sgd and let sgd depreciates.

Fortunately, LKY has yet to complete his perversion of system set up by old guards like HSS and GKS, though what has happened in GIC and temasick in recent years is not encouraging.

 

[Boliao]

And here lies the big mechanics of how Singapore INC works.. Question - How do you create wealth from other people's money?

Step1: Create a law that locks up the citizen's money through CPF
Step2: Use that money to buys bonds and transfer the wealth to MAS
Step3: MAS then transfer the money to private entities (I guess to hide the paper trail) for investment
Step4: These money are now legally private and can be use to do all sort of things. As long as it pays CPF a small portion of the interest earned, it gets to keep the rest as profits.

The idea started out noble and the earnings from the investment helps to build a countries wealth and reserves. After all, this is what all banks do. But when you start putting relatives and cronies as investment heads to pay them huge salaries/ bonuses, you're bound to lose money. Now do you still wonder our hard earn money are locked up in CPF?

The single biggest used of CPF is to pay towards housing. By increasing housing and delaying withdrawal age, the money are perpetually locked up in MAS. Ho Jinx can continue to lose billions but as long as she does not need to pay MAS and CPF, she'll be fine. In fact, the reserve is happening as we greatly increase the population so more money can be locked up.

You see the same thing being played out in public transport - Use the people's money to build the infrastructure. Have a private company run it and keep the profit. The business is ALWAYS profitable and self sustaining as the people is actually paying for everything.