If you wish to give money to the poor, the money has to come from somewhere. In Singapore, the money comes from GST and other government incomes. In Europe, money for pension and welfare comes from borrowing from the people via government bonds. Bonds will mature and have to be paid back eventually with interest. And European governments don't care about that. They simply borrow more money to pay existing debt. Think of it like a guy charging more money to his new credit cards to pay off existing credit card bills. That's why Europe has been in austerity for so many years.
Doing charity is good. But the money needs to come from somewhere. And so far, only the PAP is prudent. We paid for all our infrastructure without external debt. Countries like China once had to swallow their pride and plead with their historic enemy, Japan, for soft loans to build their initial modern infrastructure.
Is that the path you want Singapore to follow - to beg foreigners to lend us money to build our MRTs and highways?
europe and U Ass A garberments issued bonds to keep things running.
so these gavberments are in bad debts.
sillypoore garberment think they beri smart , like u said. think their fiscal policies are the bestest.
if U Ass A and europe currency which are the cuntries affected the most ?
one of them is definitely sillypoore.
remember this : silypoore currency , like most other countries,
reserve are mostly in US$ and Euro$ and Sterling.
hope you can the link from here.
now who is clever ?
