Fwd: Singapore is 8th Most Indebted Nation in the World !

---------- Forwarded message ----------
From: Leslie Chang <lesliecck@gmail.com>
Date: Wed, Jul 8, 2015 at 12:15 AM
Subject: Fwd: Singapore is 8th Most Indebted Nation in the World !
To:

Here is an interesting reply

The government had done it, if you look at the facilities of the current schools, Uni-institution, Polys, and ITE.

You can't denial that the government never do, Ask yourself with the school fees that you ditch out monthly, is that enough for the operation and construction cost?  Government have not make it loud enough for everybody to be heard.  Yet some of the citizen choose and pick even they have not make a little effort themselves.

Open the senses, you will experience the different.  These cannot be too obvious as it has some repercussion to consider too, be more multi-dimension.  And not just look at debts alone.  To be able to loan that much, is a honor that "trusted" our trade mark by others.  Try other country, they might not able to do it.  As the investor, they might not look at other factors, but for sure, we all knew how the economics intertwine with every aspect of a society that makes the economical structure of this world.  How delicate is to move a parameter to affect the others.  Not to mention that investor that quotes, whether is he that integrated with the community or just based on hear say or press data?  Worst, with a specific motive?  The world is integrated as all knew, war is trans-countries, equity markets changes the international markets in nano-second, and how can one just put debt published alone make a stand, whether is 1 or 8, all has a different meaning, but statistically point of view are always shallow that trained to see only in one perspective that required by the force to compare for the publication needs. 

Give a different view, things looks brighter instead of gloomy. haha..

As our government always practice positive thinking and look at the bright side with a vision that create what we want to be, instead of letting the world tared you apart.  It might make a happy feeling for a small group of pessimism people that always predict the worst.  But the impact could be devastating.

Singapore is a good testimonial for the law of universe that says "there is no prayer that goes UN-answered", if you are wise, "Believe" is the key and the law will act.  This is the secret of the Daishonin Teaching, not only work for people that practiced, it should work for all.  That justified the law is always constant if you believe in it.  Its compassionate love, in the eyes of law everything is equal. 

regards,

Ocean  

  

On Sat, Jul 4, 2015 at 3:57 AM, Leslie Chang <lesliecck@gmail.com> wrote:

Sent from my iPhone

Begin forwarded message:

Subject: FW: Singapore is 8th Most Indebted Nation in the World !

Hi,

Perhaps those who are good in finance can interpret this.

Regards,

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Subject: Fw: Singapore is 8th Most Indebted Nation in the World !

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Pls see attached latest article from reputable Fortune magazine.
Harre Singh D'Thakur

Yes, as a fund manager myself , I was shock at 16/8/2011 issue of
Fortune Magazine that showed Singapore has a sovereign debt of US$254
billion(95% of GDP). At 8th position, we are just behind 7th position
USA (indebtedness of US14.3 trillion - 99% of GDP). Japan is No. 1
with  indebtedness of US$13.8 trillion(234% of GDP). Guess we were all
in the dark - the size of our govt.'s sovereign indebtedness.

Japan is OK as it borrowed 100% from its own citizen (thru' Postal
Savings Accounts) and its debt is in Yen(no FX risks).

US debt is 32% foreign-owned and is in US$(no FX risks). US Fed (as a
Central Bank) can print US $ notes to pay any coupons & fulfill all
treasuries redemption if worst comes to worst. Like Japan, USA can
NEVER default as they both can print Yen and US$ respectively to repay
ALL sovereign debts/obligations they owned locally and to foreigners
alike.

Singapore govt. borrowed S$ from our CPF thru MAS/govt long term
bonds. The bulk (no one outside PMO/GIC/Temasek know the figure) is
converted to foreign currencies(with FX risks) and invested overseas.
Late ex-President Ong TC tried but failed to get such info, despite
govt. denial. These foreign investment is subject to FX risks and as
MAS cannot print S$ at will (under Currency Board regime), Singapore
govt. is limited in its response to adverse FX risks and may not have
enough to repay CPF Board in S$ at the end of the day. We may not
default, but our diminished foreign investment in S$ terms may face a
huge shortfall ! !

Did you folks give permission to govt. too ?

Compared with Norway, Sweden, China, Saudi Arabia, Kuwait and UAE that
have invested sovereign funds overseas, our GIC's and Temasek's
returns are much lower (notice how GIC/Temasek always FAILED to
provide comparison of their annual performance with others). These
were always reported in absolute and not bench-marked. Bet you - they
would not fail to highlight their out-performance against these
foreign sovereign funds if these were so !

The govt. should use our CPF money to invest locally in more schools &
universities(generous subsidies/scholarship to citizens only), more
subsidised HDB flats(citizens only), more hospitals & medical training
capabilities(citizens only) and better transport, etc. These are good
and safe infrastructure investment on this island-state and is in S$ -
there is also no FX risks, just like Japan and USA.

Therefore, people......vote wisely.

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Regards,

Mr Chang C.L.