Singaporeans enter the 20th year of unnecessary, self -imposed austerity.

[Confuseous]

There is really no justification for the continual accumulation of reserves and government surpluses once these have reached a level sufficient to provide for a serious crisis. Our Government passed this level some years back but continues to insist on its necessity. MeanwhileCPF holders are being forced to take unilateral changes in the terms on which they can get their money back. This is despite the low returns onCPF savings having been one of the major contributors to the growth in overseas assets. The present generation of Singaporeans has been robbed, supposedly to pay for a future generation of Singaporeans, despite accelerating technological change and productivity growth making all but certain that future generations will be much richer than the present one.

The big question is will we even benefit from our enormous overseas assets? I believe we are fooling ourselves if we think that by actually saving all this money we will get to spend it or that our children will. GIC, Temasek and MAShave yet to come clean on how much it has invested in Euro-zone sovereign debt and how much it stands to lose should there be a debt default in the worst case or just a restructuring. As I said before, there is no-one in Parliament willing or able to demand an account.

http://sonofadud.com/2011/11/29/you...h-year-of-unnecessary-self-imposed-austerity/

 

[jiakhongleow]

Guess you want to see the accounts you need to shed some blood, bring back ISA and send some oppositions to jail, or just wait ..... work on God's timing old Lee up lorry soon.