Sg reserve is unbelievable
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1.Spore reserve is 58% and 320 % higher than HK and Japan per capita
respectively.
Country................................ population..............US$billion
...................Foreign reserve.................................Foreign
..................,per capita................million..................reserve
...................US$
Australia............1950..........................20..........................39
Canada..............1050.........................32.8.......................34.5
France...............1280........................60.7......................77.4
Germany............1180........................82.4.......................97.2
Finland............ 2,5000.........................5.2........................13
Hong Kong.......17720.........................6.9.....................122.3
New Zealand.....1380..........................4...........................5.5
Singapore........28070.................. 4.4.........................123.5
Japan................6630.................127.4...........................845
UK......................810....................60.4..............................49
USA...................290.......................300..............................87
Country................................ population..............US$billion
...................Foreign reserve.................................Foreign
..................,per capita................million..................reserve
...................US$
Australia............1950..........................20..........................39
0-14 years: 19.8%
15-64 years: 67.2%
65 n over: 12.9%
Canada..............1050.........................32.8.......................34.5
0-14 years: 17.9%
15-64 years: 68.9%
65 n over: 13.2%
France...............1280.........................60.7......................77.4
0-14 years: 18.4%
15-64 years: 65.2%
65 n over: 16.4%
Germany............1180........................82.4.......................97.2
0-14 years: 14.4%
15-64 years: 66.7%
65 n over: 18.9%
Finland..............2500...........................5.2.......................13.0
0-14 years: 17.3%
15-64 years: 66.8%
65 n over: 15.9%
Hong Kong.......17720.........................6.9.....................122.3
0-14 years: 13.8%
15-64 years: 73.5%
65 n over: 12.7%
New Zealand.....1380..........................4...........................5.5
0-14 years: 21.4%
15-64 years: 66.9%
65 n over 11.7%
Singapore........28070.................. 4.4.........................123.5
0-14 years: 16%
15-64 years: 75.9%
65 n over: 8.1%
Japan................6630.................127.4...........................845
0-14 years: 14.3%
15-64 years: 66.2%
65 n over: 19.5%
UK......................810....................60.4..............................49
0-14 years: 17.7%
15-64 years: 66.5%
65 n over: 15.8%
USA...................290.......................300..............................87
0-14 years: 20.6%
15-64 years: 67%
65 n over: 12.4%
Note:Spore includes Citizens & PR 3.4 m plus foreigners 1.0 million.
If we do not include foreigners,the figure is much higher.
But i think we should include as above to reflect the true picture.
sources:
CIA Worldbook
2.The Spore party is just begun!!
3.Very sorry the correct per capita should be ten times bigger as corrected
above.. -
unfortunately, it would be the distribution that ordinary folks are looking for...reserves on paper belongs to singapore, these days, even the president has no say in it....
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we have a small population, hence per capital is very high.
but our govt will say "we cannot afford to have a trade deficit" whenever citizens need help. -
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Singapore was able to build such a high reserve because the government taxes its citizens at the average of S$500,000 - $800,000 through sheer creative accounting method per household from selling of HDB flats and vehicle taxes alone over a 30 - 35 years work span.
On top of such high taxes, it is recovering all the costs of providing government services from the people by charging them at full market values through corporatization of services into GLCs (to charge more).
Just working on the conservative estimate of 200,000 households along at the lower figure of $500,000 per household, we can easily see how our reserve has been built on people's monies.
S$500,000 x 200,000 households = S$100.00 billions.
Citizens are made to work the whole lifetime of 35 years just to build up reserve for leaders to claim success and paying from the reserve their highest rewards. -
What's the point of having high reserve when the people are getting poorer and loosing their jobs?
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We have no nature resources
No strong reserve to back our dollar...our money will be worthless
We keep buying things from other countries if we don't buy we can't survive at all
In this world NO MONEY NO TALK -
What is the point to have all the scholars who cannot understand people's aspirations to survive and have good jobs.Originally posted by lotus999:What's the point of having high reserve when the people are getting poorer and loosing their jobs?
The current system is sucking away citizens' monies through creative accounting to create more and more reserves aggravated by relentless recovering of costs in providing basic housing and other basic services. Such shylock-liking governing system is stifling the growth of our economy and scuttling our jobs.
Is the targeted building of 10-30 years reserves as what NKF has done with the support of the government the right policy when patients are dying only getting 10 cents in a dollar of donation supposed collected to save their lives.
At the end, reserve will be used to benefit some Durais for purchase of golden taps and 1st class airfares or building of 7 wonders.
What is the point of having so many scholar ministers who only know how to condone NKF wrong doings by pretending Durai had done nothing illegal. What is legality? Should wrong doings be shielded by harsh legality.
If legality are prone to wrong doings or laws are unfair there is always the equity o make them fairer....haven't our scholars at least understood what they have learned in colleges and universities about equity so as to govern the country with more equitability and fairness.
The present system of government is too self-centred and self-serving and leaders have forgotten their original passions to serve the people. They have failed to realize their terrible mistakes in sucking away too much monies to the government coffers.
It is morally irresponsible even if they have legal basis to do so. They should not govern the country with some futuristic assumptions or fallacies that have already been proven wrongful as found in NKF case.
They should be more balanced so that monies will continue to go around to spin the economy and enhance property values.
It is totally absurd to say that reserves are needed for raining days when it rains so many times with hardly any leaders caring to help the jobless with reserves - at least as endowments fund to cushion off worse effects of temporary unemployments or downgrading of economy as has been happening since 1997. -
No point comparing our reserve on a basis of per person.
Singapore is small. To surve, Singapore has to compete globally for trade. In order to trade globally, Singapore must have sufficient reserve to back the volume of trade transaction. Big countries like the United Kingdom and Japan has so many people that the amount of reserve per person is small.
To compare Singapre to countries like Japan on such a basis is meaningless. -
Singapore can be compared to Japan only in that both depend entirely on Human Resource, as both have no natural resources to work with.
Both countries depend on the global market to survive.
Yet Japan and Singapore differs completely in the approach towards Politics, Economics, Cultural and Social programs - AND with different effective results.
While in Japan the political system is an open system - with no party having an exclusive monopolistic right to govern, and in which the Japanese Citizenry is involved in the entire POLITICAL PROCESS in governing themselves, this is unheard of in Singapore.
Japan has accumulated surplus into its Reserves by manufacturing and exporting to meet the World's demand for its high quality, innovative and useful products.
The Japanese Citizens' wages are amongst the highest when compared to all the other Asian Tiger Economies, and yet it is able to hold its own by reinventing itself and its workforce.
While the Singapore Government has often cited the co-operative, submissive, and compliant Japanese Workforce as a Role Model for Singaporeans to emulate, it conveniently did not fall on the Singapore Government's mind that it also require the entire Japanese System to be emulated - including the manner in which Politics is conducted - before we can successfully emulate the Japanese Model.
While Japan makes it fortunes from its Export Surplus to the World's consumers, Singapore makes it fortunes by "milking" the high wages that the Singapore Citizens are encouraged by the Singapore Government to receive - so as to achieve the Singapore Government's dream of reaching a SWISS STANDARD OF LIVING for Singaporeans.
When the 2002 economic melt down hit us, the Singapore Government had to forcibly convince the Singapore Workforce to forgo our high wages, accept short term employment contracts, reduced CPF contributions, variable bonus pegged to performance of the Company - (while the Civil Servant's bonus are pegged to the economic performance of the Country) - did the Japanese Government require the Japanese Workforce to endure such reductions ?
The Japanese Workforce remains the highest paid work force in Asia, and yet continue to enjoy export surplus that continue to add into their Reserves.
Is PER CAPITA a fair comparison of the actual wealth of the Country or its Citizens ?
This is an illusion, as the total wealth divided amongst a large population cannot be compared to the same value being divided amongst a small population.
Japan has a population of 127 MILLION PLUS people -
14.3% being 0-14 years
66.2% being 15-64 years
19.5% being 65 years and over
Singapore only has a population of 4.5 MILLION PLUS people -
16% being 0-14years
75.9% being 15-64 years
8.1% being 65 years and over.
The World Fact Book - Japan
http://www.cia.gov/cia/publications/factbook/print/ja.html
The World Fact Book - Singapore
http://www.cia.gov/cia/publications/factbook/print/sn.html -
Not true, we did have deficict spending for two years during the recesion.Originally posted by dragg:we have a small population, hence per capital is very high.
but our govt will say "we cannot afford to have a trade deficit" whenever citizens need help.
You see, again you don't know what you are talking about. -
Originally posted by robertteh:
Where did you get those figures from and how do you link that to creative accounting?
[b]Singapore was able to build such a high reserve because the government taxes its citizens at the average of S$500,000 - $800,000 through sheer creative accounting method per household from selling of HDB flats and vehicle taxes alone over a 30 - 35 years work span.
cost recovery is a good thing. Thats why Singapore is cost efiicient.
On top of such high taxes, it is recovering all the costs of providing government services from the people by charging them at full market values through corporatization of services into GLCs (to charge more).
Not all services are fully charged though. Many services are heavily subsidised.
Thats what i call creative accounting on the part of Robert.
Just working on the conservative estimate of 200,000 households along at the lower figure of $500,000 per household, we can easily see how our reserve has been built on people's monies.
S$500,000 x 200,000 households = S$100.00 billions.
How can he load everything on to personal taxes? What abt corporate tax and GLC revenues from services overseas?
good, we do need everybody to work hard. I'll love to work till I'm 65.
Citizens are made to work the whole lifetime of 35 years just to build up reserve for leaders to claim success and paying from the reserve their highest rewards.
We will need reserves in hard times and will be thankful of it. We haven't gone thru war and world wide crisis yet. -
Originally posted by Salman:
If he does not know what he is talking about - as you have claimed, do you know what you are reading from his post :-
Not true, we did have deficict spending for two years during the recesion.
You see, again you don't know what you are talking about.Originally posted by dragg:
In any case what was the amount of deficit spending over the two years during the recession - compared to the TRADE SURPLUS that Singapore achieved even during that period of recession ?
we have a small population, hence per capital is very high.
but our govt will say "we cannot afford to have a [b]trade deficit" whenever citizens need help.
[/b]
We can have deficit spending but can we afford to have a TRADE DEFICIT - IF you can differentiate between the two ?
Still trying to run around in circles ?
You must be getting giddy by now, as you cannot even read what is posted, or perhaps your giddyness is causing your brains to malfunction ? -
did i say our country did not have a deficit? read properly.Originally posted by Salman:Not true, we did have deficict spending for two years during the recesion.
You see, again you don't know what you are talking about.
during a economy downturn it is 'normal' to have trade deficits. our country is probably the one with the least number of trade deficits in the world. -
This turn to the aged population problem.Do u want 5 working people
to support 1 over 65 or 2 working people to support 1 over 65?
This will happen to our kids if we do not import younger
populations .Originally posted by Atobe:
2.Thanks to PAP government politocally not correct policy of
Japan has a population of 127 MILLION PLUS people -
14.3% being 0-14 years
66.2% being 15-64 years
19.5% being 65 years and over
Singapore only has a population of 4.5 MILLION PLUS people -
16% being 0-14years
75.9% being 15-64 years
8.1% being 65 years and over.
T he World Fact Book - Japan
The World Fact Book - Singapore
allowing hugh no. of foreigners working here and immgriants came.
Thats why the middle age group % is much higher than Japan.
Every year,there are about 30,000 new PR and another
5000 to 10,000 give up all their citizenships and get
the red dot passport.In addition,there are many came here
earning from S$300 to 5000 per month to boost our econmony.
The policy will put some or many Sg people in disadvantage.
Is there any perfect solution?
3.To make the population younger is more for our kids or
even for our grand children.Not for us in 40 to 80.
By the time the aged problem gets out of hand,
we are all become ash.Imagine,when our kids are old,
half the population are above 50 or even 60.
Have u seen all other First world countries eagerly
looking for immgriants and ask people to make more baby?
Sg govt has been doing this for some time. -
Logically, it is to help us. But as the government says, there is no free lunch. This amount of reserves is probably use to do some other things, like investments, so that Singapore can create jobs for her people.Originally posted by lotus999:What's the point of having high reserve when the people are getting poorer and loosing their jobs?
Either that, this amount will be used to encourage enterpreneurs and market them overseas because Singapore's market is too small. -
it is not true.Originally posted by ndmmxiaomayi:Logically, it is to help us. But as the government says, there is no free lunch. This amount of reserves is probably use to do some other things, like investments, so that Singapore can create jobs for her people.
Either that, this amount will be used to encourage enterpreneurs and market them overseas because Singapore's market is too small.
why do temasek dominate our market for? it is because of them that the stock market is half-dead.
why do we need so much reserves? what is the purpose of temasek's investment? to make more money? for what if they are not going to use it on its citizens? -
That's why I said logically. By right, it is supposed to work that way, like I said. By left, what do you think?Originally posted by dragg:it is not true.
why do temasek dominate our market for? it is because of them that the stock market is half-dead.
why do we need so much reserves? what is the purpose of temasek's investment? to make more money? for what if they are not going to use it on its citizens? -
.Very sorry the correct per capita should be ten times bigger as corrected
above..in the opening thread. -
Better than NKF
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come on lah. without temasek, do you think we will have companies like SIA, PSA, Keppel Corp.not that private companies are no good, but I think they lack the muscle to challenge big corporation from overseas.Originally posted by dragg:it is not true.
why do temasek dominate our market for? it is because of them that the stock market is half-dead.
why do we need so much reserves? what is the purpose of temasek's investment? to make more money? for what if they are not going to use it on its citizens?
Reserves are very important for a country like Singapore, and it help to bring stability to the country. Most important if we want to be the financial hub of SE Asia.
If the reserved are not for the citizen of Singapore then why is it still call reserved and not money in Lee's swiss account? -
Yuo checked the account?Originally posted by Gazelle:come on lah. without temasek, do you think we will have companies like SIA, PSA, Keppel Corp.not that private companies are no good, but I think they lack the muscle to challenge big corporation from overseas.
Reserves are very important for a country like Singapore, and it help to bring stability to the country. Most important if we want to be the financial hub of SE Asia.
If the reserved are not for the citizen of Singapore then why is it still call reserved and not money in Lee's swiss account?
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i thought the more the merrier?.....lolx......but as a spore citizen i will feel safe to noe dat spore hav so much money in reserve........
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As I've mentioned before, it is to ensure that ministers' and mps' salaries, bonuses and pensions can continue to be paid even when the country is in deep shit. Since when was it for the peasants?Originally posted by dragg:why do we need so much reserves? what is the purpose of temasek's investment? to make more money? for what if they are not going to use it on its citizens?