Singapore has one of the world's highest government debts! Narrated by Tom McKay Video Edited by Iyanbriandi Inquiries: behindasian@gmail.com Brought to you by the Behind Asian Team.
Not inaccurate, but too simplistic model. For start properties can be a risky "investment", think negative equity. Or interest rate hike to make your mortgage payment worst. You could also increase the credit card bill to help you pay for repairs of your house to increase its value and when sold off pay back your credit card loan. Or buy a car to get a higher paying job.
I think , Singapore regulates their own money domestically from many sources , without needing to borrow from abroad. They’ve calculated very carefully to always have profits since the founding of the country 👍
singapore debt is investment debt ie. tie to assets. which generate revenue or sold for cash. usa debt its for consumption which future generations has to pay
In naive term !!! All ventures, including all investments are risks. In the simplest meaning, risks = gamble, bet, wager, speculation, stake. The higher the risks, the higher the potential return. No risks no gain. Simply, ???
@@jameschalkwig787 Consumption? Doesn't it mean external sources of funds are channelled into some sort of investment portfolio??? Risks involved, you wouldn't know exactly how much is the realizable value at any given time. Meanwhile, more importantly, you need to maintain cash flow, and also service the external fund. These are rudimentary procedures and no Nobel is required.
US debt are paid to US companies which provide healthcare/technology etc, so private corporations get the revenue rather than the government. While essential funds and corporations in Singapore are mostly government owned.
Let me get this straight : Singapore borrows money to invest in assets (anything that helps to make more money), whereas the US borrows money to pay liabilities (anything that takes money away from you). So Singapore is smart and responsible with the money they borrow vs the US which is totally irresponsible !
No, it's more of type of items spent on, and the methods of debt management in general?! Meaning, the spending of borrowed money on projects that could generate more current or future returns than on things that have little or no values at all - but sometimes might be of essential services i.e. the emergency services. In turn, the returns are then being re-invested, and/or used to repay the debts made earlier?!
@peanut0brain No?! I focused on what the benefits, both tangible, and intangible, could be brought to both the US, and SG, and its peoples in the future, via the investment of borrowed money, and proper debt management?! Through the construction of public housing, and community facilities, for instance, it could say, significantly improve the overall housing affordability, and standard of living of peoples rather than on those "white elephant" projects or excessive welfare benefits for its people?! Moreover, I explained on how the "borrowing" works in reality, and what the benefits are through the borrowing by the US, and SG in general, in which they differ both in terms of methods, and attitudes? On the other, you only (briefly) discussed the nature, and the attitudes of borrowing by the US, and SG?! So, it's entirely in different perspective?!
@peanut0brain Not that simple. Investment could go sour too. Don't forget Singapore investment includes US treasury bonds too. So effectively holding US debt. Often people use the term "investment" to sound nice as if investment equals guarantee income. That's not always the case. The US uses the money to fund defense so you could say it invests in the long term ensuring that no one can invade it. And because of this money flows to the US when other countries are in trouble.
The US is the only country with 'exorbitant privilege' so it can print money to honour debt obligatiios. No other country can do that, especially China whose debts are mounting at a frightening rate as theur property sector implodes and their Belt & Road Initiative has ground to a halt, leaving serveral third world countries in a debt trap.
Singapore can only plan long term if the Government remains more or less the same. If the Government keep changing like the USA, planning will be short term for quick wins to please voters.
Yup, this is a massive downside of democracies, unfortunately. Social benefits programs are crowd pleasers, so they are a tool for politicians to quickly garner supports. I'm not from the US btw, but I'm starting to worry that my country is heading to the similar direction, while we are not even nearly as wealthy as the US.
The biggest problem is that most of the projects financed can only reap profits by jacking up and inflating prices. Which does not solve the issue of inflation.
Singapore Has Zero Net Debt The Singapore Government has a strong balance sheet with assets well in excess of its liabilities. This is why international credit rating agencies like Fitch, Moody's, and Standard & Poors give Singapore the highest short-term and long-term credit ratings of AAA.Jan 22, 2024
Singapore has seemingly high gross debt, but in reality it has ZERO 0️⃣ nett debt. They borrow to earn even more profit 💵, not because lack of budget / fiscal room
if zero debt why increase gst, water tax, electricity cost. Debt is debt it have to be paid by someone which is the citizen. Pls dun give brainwash reason such as to pay back country reserved.
@@shukriramlee looks like you don't understand the nett debt situation, you poor boi. It's very simple: Debt value minus asset value = nett debt. Singapore actually has negative nett debt.
Fun Facts: Currently, both the Temask, and GIC, have a combined value of close to 1 trillion USD, and maintain different investment approaches to achieve investment returns, on the various projects in different fields, for the Government of Singapore (and, in turn, Singaporeans too).
Have you checked how the value of USD$1 trillion has been derived? Most likely it is based on unrealised gains. And what are the 'different' investment approach which you know? I bet they are all investment on market derivatives
ssb and sgs bonds and T-Bills. COE is also considered a tax. Certificate of entitlement to drive in Singapore. (luxury). ERP is also traffic tax only in certain areas
If Singapore issued non tradeable bonds to CPF, then what did they do with the fund they received from CPF which bought the Government non-tradeable bonds.
It’s hyperbole, but certainly will not be easy to get an accurate number. Reserves include state land, assets like offices, tools, and infrastructure. etc. But if you’re looking at purely fluid ones, just look at the value of Temasek and GIC. Temasek especially should be public information.
Thats why they are stoopid to remove Najib because "he make malaysia alot of debt"😂 When actually during Najib, he bring in alot of FDI and he use national debt luke how Singapore did but yeah, Malaysia too stoopid and think every debt is bad when in reality EVERY country have national debt😂 And now, Malaysia have one of the slowest economic growth in ASEAN😂😂😂 They vote in current people just because if empty promise and populism🤣🤣🤣
Why worry about debt ??? , where assets are more than visible !!! Hidden and intangible alone . With their prudence for over 50 years in managing financial handling, To WORRY, you are just ignorant, they don't need foreign funds for their infrastructure . Got it, that's. 😄👋🏼
financialization is a real problem. I'm no economist, but I think economics has quite clear definition on "FINANCIALIZATION" and "REAL PRODUCTIVE ECONOMY", esp after 2007/2008 crisis....quite a lot of resource. Hope after self education, we'll be able to understand the " HYPERINFLATION" for the past years......
Agreed. Singapore wants to be in a position where money does all the work of making more money. The finance sector makes up much of the GDP (Is finance really part of the GDP?!?). But over-financialising the economy has repercussions in the long run. What happens in a society where money made money for everyone else and nobody needs to do any work? Think about it.
What?! Investing in the long term benefit of your people is a good idea?! Naw, that can't be true! Short term profit for the few is the premium economic model!
For example. If one borrows money at 4% annual interest rate to fund projects that grow 10% or more in the long term. This is sound borrowing. Using other's money to generate income while using your own money for other money making channel that will be higher then what you pay in interest, this is the fundamentals of sound financial planning. Unlike US, they borrowed to cover the hole.
sg debts are mostly debts to cpf pension n foreigner deposits. hence the higher the debts the better as it means sg has more pension cash n also more foreign deposit.
Also because foreign investor's bank deposits in singapore are simply written in the balance sheet as "debt", the bank owes u money because u deposit with them, therefore technically you lend the bank money, so in P&L it's written as debt.
No matter how you explain it, a debt is always a debt.And with the debt stood at 170% of it's GDP, it's scary to see how it can pay its debt at times of extended crisis.Chances of Sing Dollar collapsing in extremely high and when it happens, it will shoot straight down like a falling knife.
USD is the reserve currency of the world, it is in US's interest for other Countries, people, institutes to hold US debts. When you are holding US's debts (even if you don't directly hold any, almost everyone holds some US debts indirectly), would you want US to default on those debts? US can just borrow as much as the world can lend it, until another currency becomes a potential new reserve currency. ;)
Simply put, the government uses citizen CPF money and invests but loses big time but is not responsible nor accountable with minuscule interest return to CPF members. Someone suggested is like the Poznzi scheme, therefore Singaporeans (like me) are daft period! 😢
Perhaps Spore borrow due to its costly land reclamation project for Tuas mega port and changi avition hub. Anyway, spore govt is stable and has full political support from its citizens.
The Gov of Singapore did not borrow (i.e get into debt) during the 2019-2021 pandemic, but instead simply drew from savings. I’d imagine they’ll do the same in another crisis.
Correction high debt does not exactly mean great concern. More appropriately a low credit rating can be a more alarming concern. But again in practice it likely does present imbalance somewhere in in-between during otherwise peace time.
If the US insists all 401k plans must purchase 30% of all notes and bonds issued by the US Treasury, I doubt u would call it a forward looking country.
Singapore government has always given the impression that the country has a high reserve and has always been very generous with handouts when there is an economic crisis. Now you are saying that the net debt is zero. Essentially, you are saying that it has as high a debt as its reserve. So after financing all the development, there is actually no money in the bank and everything is into assets? Who has been blowing smoke? Puzzled... And I have studied economics.
How did you come to the conclusion that all the debt is equal to reserves. The size of the reserves is a national secret so it’s not publicly known. Even if you consider Temasek Holdings and GIC, you need to consider 1. Debt for investment is not zero value. It usually has a value unto itself (can be sold off for less than initial projected value). 2. SG reserves also include gold, foreign currencies held, and land.
Of course it is a cause for concern. At the moment, CPF debt is supported by the interest that home owners pay every month on their HDB loans. But when there is a natural disaster or war, HDB loans would produce zero interest income, and Singapore would be bankrupt and go back to stone age.
singapore has nothing to loose in debt they have nothing in their country..no natural resources so those creditors cannot be repaid so need to force singapore to pay if they dont want to pay..
wrong info singapore is on number 18 of world's Debt, top 5 is United States 34.6 trillion, United Kingdom 3.24 trillion, Japan 4.34 trillion, Netherlands 3.79 trillion & France 3.79 trillion.
Thanks to the largesse of illicit money 💰 laundered and safely stashed in Singapore 🇸🇬 The Bahamas 🇧🇸 and St Kitts and Nervis of Asia. Absolutely 💯 Usd 600 billions from china, another over usd 300 billions from Indonesia 🇮🇩 who's counting. Not the Singapore government obviously. Nvm - morevfrom the East European countries, Hong-Kong, Taiwan, India and Russia. Absolute safe haven - and a complicit government and celebratorily welcoming banking systems - Maju lah Singapura 😊
Im singaporean, remember rule no 1. Never pay full cash to buy property. Singapore is the number 1 in the world in managing finance. Try again, "Behind Asia"
Temasek is accounted and reports its value annually. Assets are currently valued at 382 billion SGD in 2023. while less transparent, has a reported asset of 770 billion USD in 2023. Both are available on Wikipedia. Combined, these are just some of Singapore's reserves that can be counted. There are some that are less clear - e.g. total weight of gold held, foreign currencies, etc.
Singapore's national debt = Owe from Singaporean CPF. Singaporean pension day = Hardly to withdraw their own money. (Limited withdrawal, voucher scheme, etc) Conclusion = Singaporean CPF pegged with National Debt. 😂
No it's called a pragmatic retirement fund approach. If they let everyone have their lump sums then when these same ppl spend it all they will complain that the govt is not taking care of them and that the govt is bad. At the same time the govt doesn't adopt a pension system like Japan for eg because the debt burden will be too great on the future generations and eventually lead to a predictable increase in the tax burden. Our social system is to help those who really need the help, and for ppl to be more accountable for their own retirement. The CPF system is an excellent balanced approach in helping to a degree a person's retirement, health and housing needs while not being too much of a burden on govt finances. A number of Singaporeans are too short sighted to understand this.
Seriously do some homework before u even talk about Singapore's debt. Singapore never had any debt when we first started under LKY with attracting MNCs and manufacturing into Singapore. When Singapore transitioned into a Financial hub and regional Finance centre that was the time LHL(LKY's son) decided that Singapore had to have a debt system because without debt Singapore cannot be measured and rank base on how it manages this debt and performs it similar to banks lending money to u, if u dont have any debt the bank cannot determine your risk analysis because u dont have a track record so the bank can only lend u the minimum amount to reduce the risk to the bank. So in a nutshell, Singapore have to than develop this huge so called debt by issuing bonds to borrow money and then paying it back consistently and on time to be rank thus this enhances its debt ratings high so that it can be trusted as a financial centre in the region and in the world.... Once u understand this simple fact than u know your video is just fluff without real substance.
As a Singaporean, allow me to explain in a simpler way. We have 40% of foreigners among our population. The funds they brought in, be it invested or deposited into the banks, are considered as debts. These funds made up most of the national debt.
No, the funds rich foreigners bring in manifest as investments into real estate or safe-guarded by Singapore banks due to low taxation. They are not part of national debt.
What do you think about Singapore's massive debt? Let us know down below!
best country in the world😇
Who cares? Singapore is one of the cleanest, safest, beautiful country in the world, objectively, that is.
You mixed up United States with Singapore. Get your facts straight
Nice explanation! Thank you. It's a good debt, not bad debt. Singapore has a prudent and forward thinking approach to manage its financial position.
its not a big deal
just tell us what country have no debt ?
In simple term, think of Singapore as someone who borrow to buy properties vs US as someone who borrow to pay for its increasing credit card bills.
Not inaccurate, but too simplistic model.
For start properties can be a risky "investment", think negative equity. Or interest rate hike to make your mortgage payment worst.
You could also increase the credit card bill to help you pay for repairs of your house to increase its value and when sold off pay back your credit card loan. Or buy a car to get a higher paying job.
Leveraging
Towkay, have extra money invest in export based manufacturing in Malaysialah and hire Malaysianslah...sorry to disturb....
😂 in short, Singapore is badly managed by current govt
@@deschan2246 sorry what?
Don't you worry about Singapore 😅😂
Just pay off the US$34trillion debt 🙄
I think , Singapore regulates their own money domestically
from many sources , without needing to borrow from abroad. They’ve calculated very carefully to always have profits since the founding of the country 👍
😅
Warren Buffet and Karen crossover
Lies again? MILF Division USD SGD
singapore debt is investment debt ie. tie to assets. which generate revenue or sold for cash. usa debt its for consumption which future generations has to pay
In naive term !!!
All ventures, including all investments are risks.
In the simplest meaning, risks = gamble, bet, wager, speculation, stake.
The higher the risks, the higher the potential return. No risks no gain.
Simply, ???
@@jameschalkwig787
Consumption?
Doesn't it mean external sources of funds are channelled into some sort of investment portfolio???
Risks involved, you wouldn't know exactly how much is the realizable
value at any given time. Meanwhile, more importantly, you need to maintain cash flow, and also service the external fund.
These are rudimentary procedures and no Nobel is required.
US debt are paid to US companies which provide healthcare/technology etc, so private corporations get the revenue rather than the government. While essential funds and corporations in Singapore are mostly government owned.
Let me get this straight : Singapore borrows money to invest in assets (anything that helps to make more money), whereas the US borrows money to pay liabilities (anything that takes money away from you). So Singapore is smart and responsible with the money they borrow vs the US which is totally irresponsible !
No, it's more of type of items spent on, and the methods of debt management in general?!
Meaning, the spending of borrowed money on projects that could generate more current or future returns than on things that have little or no values at all - but sometimes might be of essential services i.e. the emergency services.
In turn, the returns are then being re-invested, and/or used to repay the debts made earlier?!
@@tenglim4406 dude you are saying exactly the same as what I'm saying...spend money on things that brings more money in...lol
@peanut0brain No?!
I focused on what the benefits, both tangible, and intangible, could be brought to both the US, and SG, and its peoples in the future, via the investment of borrowed money, and proper debt management?!
Through the construction of public housing, and community facilities, for instance, it could say, significantly improve the overall housing affordability, and standard of living of peoples rather than on those "white elephant" projects or excessive welfare benefits for its people?!
Moreover, I explained on how the "borrowing" works in reality, and what the benefits are through the borrowing by the US, and SG in general, in which they differ both in terms of methods, and attitudes?
On the other, you only (briefly) discussed the nature, and the attitudes of borrowing by the US, and SG?!
So, it's entirely in different perspective?!
@peanut0brain Not that simple.
Investment could go sour too.
Don't forget Singapore investment includes US treasury bonds too. So effectively holding US debt.
Often people use the term "investment" to sound nice as if investment equals guarantee income. That's not always the case.
The US uses the money to fund defense so you could say it invests in the long term ensuring that no one can invade it. And because of this money flows to the US when other countries are in trouble.
The US is the only country with 'exorbitant privilege' so it can print money to honour debt obligatiios. No other country can do that, especially China whose debts are mounting at a frightening rate as theur property sector implodes and their Belt & Road Initiative has ground to a halt, leaving serveral third world countries in a debt trap.
Singapore can only plan long term if the Government remains more or less the same. If the Government keep changing like the USA, planning will be short term for quick wins to please voters.
Yup, this is a massive downside of democracies, unfortunately. Social benefits programs are crowd pleasers, so they are a tool for politicians to quickly garner supports. I'm not from the US btw, but I'm starting to worry that my country is heading to the similar direction, while we are not even nearly as wealthy as the US.
Singapore operates like a bank which borrows money from the savers to obtain profits.
The biggest problem is that most of the projects financed can only reap profits by jacking up and inflating prices. Which does not solve the issue of inflation.
regulatory arbitrageur
@@gavinlew8273 , No project, no progress.
Hi @BehindAsia , how did you get all the figures and data?
No one knows how Temasek and GIC invest Singapore's reserves. Hence, exactly how much reserves the country has.
I think they know but it's state secret - to prevent the dituation of the likes of Soros exploiting GBP then.
Only God knows.
Will singapore currency depreciate to pap of usd soon???Or appreciate it to equal value of an USD note soon.
Singapore Has Zero Net Debt
The Singapore Government has a strong balance sheet with assets well in excess of its liabilities. This is why international credit rating agencies like Fitch, Moody's, and Standard & Poors give Singapore the highest short-term and long-term credit ratings of AAA.Jan 22, 2024
Singapore has seemingly high gross debt, but in reality it has ZERO 0️⃣ nett debt.
They borrow to earn even more profit 💵, not because lack of budget / fiscal room
Liar 😂
@@shukriramleesingapore considers foreign investment as debt. So yes the debt will look high on paper. We have no issues with money.
@@JeraldEvans No, debt is debt and fdi is fdi.
if zero debt why increase gst, water tax, electricity cost. Debt is debt it have to be paid by someone which is the citizen. Pls dun give brainwash reason such as to pay back country reserved.
@@shukriramlee looks like you don't understand the nett debt situation, you poor boi. It's very simple: Debt value minus asset value = nett debt. Singapore actually has negative nett debt.
Good debt helps you to build future wealth and financial strength. Bad debt is an evil cycle to bring you down.
Fun Facts: Currently, both the Temask, and GIC, have a combined value of close to 1 trillion USD, and maintain different investment approaches to achieve investment returns, on the various projects in different fields, for the Government of Singapore (and, in turn, Singaporeans too).
Have you checked how the value of USD$1 trillion has been derived? Most likely it is based on unrealised gains. And what are the 'different' investment approach which you know? I bet they are all investment on market derivatives
Does it include the MAS gold and forex holdings
@@jogo798yes
1 trillion dollars is more than enough to repay 850 billion
It's actually $2.2t as of end 2023
present in percentage. Can give actual value ?
I think if I am not wrong, Singapore consider foreign deposit as external debt
Technically yes.
@@pjs20thetube that's basic accounting entry.
absolutely right
Main character yarn? You think you saw you conquer yarn?
Borrowing to earn more in the future is smart .
Borrowing to pay off more n more increasing debts n consumption is unsustainable.
ssb and sgs bonds and T-Bills.
COE is also considered a tax. Certificate of entitlement to drive in Singapore. (luxury).
ERP is also traffic tax only in certain areas
plus alcohol & tobacco tax...
What will happen to those countries,who are with high debt ,if there will be financial crises like 2008....
Maybe they keep reserves offshore and borrow agains the offshore assets. Like Most large companies do.
If Singapore issued non tradeable bonds to CPF, then what did they do with the fund they received from CPF which bought the Government non-tradeable bonds.
Most likely, the money is invested elsewhere for a higher return than what they pay out in interest.
Invest in higher yield assets to pay for the endowments
Pap gov said will take 50 years to determine sgp reserves..
It’s hyperbole, but certainly will not be easy to get an accurate number. Reserves include state land, assets like offices, tools, and infrastructure. etc.
But if you’re looking at purely fluid ones, just look at the value of Temasek and GIC. Temasek especially should be public information.
Did they know out of the Top 10 Sovereign Wealth Funds in the world. Singapore has not 1 but 2 in the Top 10? GIC and Temasek
It's funny how some Malaysians who don't understand the economy always poke fun at Singapore's high debt.
They know nuts???
Because it's funny 😂 No matter what nationality you are 😂
They r correct. The funny thing is lots of people are still ignorants.
Thats why they are stoopid to remove Najib because "he make malaysia alot of debt"😂
When actually during Najib, he bring in alot of FDI and he use national debt luke how Singapore did but yeah, Malaysia too stoopid and think every debt is bad when in reality EVERY country have national debt😂
And now, Malaysia have one of the slowest economic growth in ASEAN😂😂😂
They vote in current people just because if empty promise and populism🤣🤣🤣
That is why they are working for us lol
8:03 bro just made an imperial japanese flag
Why worry about debt ??? , where assets are more than visible !!! Hidden and intangible alone .
With their prudence for over 50 years in managing financial handling, To WORRY, you are just ignorant, they don't need foreign funds for their infrastructure . Got it, that's. 😄👋🏼
financialization is a real problem. I'm no economist, but I think economics has quite clear definition on "FINANCIALIZATION" and "REAL PRODUCTIVE ECONOMY", esp after 2007/2008 crisis....quite a lot of resource. Hope after self education, we'll be able to understand the " HYPERINFLATION" for the past years......
SG has hyperinflation? You're certainly no economist.
Agreed. Singapore wants to be in a position where money does all the work of making more money. The finance sector makes up much of the GDP (Is finance really part of the GDP?!?). But over-financialising the economy has repercussions in the long run. What happens in a society where money made money for everyone else and nobody needs to do any work? Think about it.
What?! Investing in the long term benefit of your people is a good idea?! Naw, that can't be true! Short term profit for the few is the premium economic model!
"Short term profit for the few" got many empires and dynasties overthrown.
I think he’s being sarcastic
For example. If one borrows money at 4% annual interest rate to fund projects that grow 10% or more in the long term. This is sound borrowing. Using other's money to generate income while using your own money for other money making channel that will be higher then what you pay in interest, this is the fundamentals of sound financial planning. Unlike US, they borrowed to cover the hole.
This is nuclear physics simply
incomprehensible🤔
Title should change to Good Debts vs Bad Debts
like Good Cholesterols & Bad Cholesterols.
sg debts are mostly debts to cpf pension n foreigner deposits. hence the higher the debts the better as it means sg has more pension cash n also more foreign deposit.
Higher the debts the better???😂🤣😂🤣😂
What does this mean for Singaporeans ?
Also because foreign investor's bank deposits in singapore are simply written in the balance sheet as "debt", the bank owes u money because u deposit with them, therefore technically you lend the bank money, so in P&L it's written as debt.
SGD is not world reserve currency, but USD is
Singapore has no debts, i just goggle, so which is correct?
No matter how you explain it, a debt is always a debt.And with the debt stood at 170% of it's GDP, it's scary to see how it can pay its debt at times of extended crisis.Chances of Sing Dollar collapsing in extremely high and when it happens, it will shoot straight down like a falling knife.
USD is the reserve currency of the world, it is in US's interest for other Countries, people, institutes to hold US debts.
When you are holding US's debts (even if you don't directly hold any, almost everyone holds some US debts indirectly), would you want US to default on those debts?
US can just borrow as much as the world can lend it, until another currency becomes a potential new reserve currency. ;)
Simply put, the government uses citizen CPF money and invests but loses big time but is not responsible nor accountable with minuscule interest return to CPF members. Someone suggested is like the Poznzi scheme, therefore Singaporeans (like me) are daft period! 😢
That's mean ok for some government bebt they pay back more long term stragic
Perhaps Spore borrow due to its costly land reclamation project for Tuas mega port and changi avition hub. Anyway, spore govt is stable and has full political support from its citizens.
Singapore keeps increasing its taxes still
Its still risk if thres another outbreak.morr debt definitely.
The Gov of Singapore did not borrow (i.e get into debt) during the 2019-2021 pandemic, but instead simply drew from savings. I’d imagine they’ll do the same in another crisis.
So basically the entire countey was playing rhe investment charty
It's far better managed fiscally than many countries around the world.
US debt 34 trillions and 1 trillions every 100 days , Singapore 800 Billions is small in comparison.
Correction high debt does not exactly mean great concern.
More appropriately a low credit rating can be a more alarming concern. But again in practice it likely does present imbalance somewhere in in-between during otherwise peace time.
They follow Rich Dad poor dad concept
It is the important thing that the debt is definitely smaller compared to national reserves 💪💪
MAKE MONEY IN SINGAPORE
SPEND MONEY IN JOHORE
If the US insists all 401k plans must purchase 30% of all notes and bonds issued by the US Treasury, I doubt u would call it a forward looking country.
Sounds like $800B debts will becomes $800B credits in the future, si beh hor 💪
Ukraine 👎
Singapore government has always given the impression that the country has a high reserve and has always been very generous with handouts when there is an economic crisis. Now you are saying that the net debt is zero. Essentially, you are saying that it has as high a debt as its reserve. So after financing all the development, there is actually no money in the bank and everything is into assets? Who has been blowing smoke? Puzzled... And I have studied economics.
Does Impression equate to reality? 😂
Generous with handout? 😂 R u sure? 😂
In a wealth driven society like Singapore, people are considered capital assets. 😒
How did you come to the conclusion that all the debt is equal to reserves. The size of the reserves is a national secret so it’s not publicly known. Even if you consider Temasek Holdings and GIC, you need to consider
1. Debt for investment is not zero value. It usually has a value unto itself (can be sold off for less than initial projected value).
2. SG reserves also include gold, foreign currencies held, and land.
High quality people come out with high quality methods
High quality your ass! 😂
S.Pore overall philosophy..."to look good"
Of course it is a cause for concern. At the moment, CPF debt is supported by the interest that home owners pay every month on their HDB loans. But when there is a natural disaster or war, HDB loans would produce zero interest income, and Singapore would be bankrupt and go back to stone age.
Don't worry my country won't go bankrupt 😂. Singapore is a rich country 🎉
Philippines bloggers.???
Viva Singapore 🇸🇬🙏💪👏❤️
Uncle Sam is a very wealthy counterfeiter. He welcomes the poor into his mansion. What could possibly go wrong? Please answer.
Japan was 261% by 2022, should be lot higher now.
6:00 7:34
singapore has nothing to loose in debt they have nothing in their country..no natural resources so those creditors cannot be repaid so need to force singapore to pay if they dont want to pay..
Explanation not entirely correct. What he left out is the aspect of money creation which is very complicated.
Smart debt.
O god, it's a tax haven?
Pure Projection
Smart nations 👍
Debt matters, if it didn't these countries with high debt would be alot cheaper to live in.
If it were cheap, then how would those investments by the government reap a profit ! Greedy Corporate Singapore!
The bank deposits are very misleadings
That's what unrealism is all about... truly, with its size, Singapore needs the World but the entire World dont necessarily need Singapore...!!!
wrong info singapore is on number 18 of world's Debt, top 5 is United States 34.6 trillion, United Kingdom 3.24 trillion, Japan 4.34 trillion, Netherlands 3.79 trillion & France 3.79 trillion.
the video talks about debt to gdp ratio..
Sour grapes out there.
When they have debt, they mark up at GST to cover the losses.❤❤❤❤❤❤❤❤❤
There will be no economy without debts and surplus.gain. balance sheet needs to balance.
Better be prepared to be POFMA'd.
It seems that the research involved in this is as sloppy as the grammar.
Thanks to the largesse of illicit money 💰 laundered and safely stashed in Singapore 🇸🇬
The Bahamas 🇧🇸 and St Kitts and Nervis of Asia. Absolutely 💯
Usd 600 billions from china, another over usd 300 billions from Indonesia 🇮🇩 who's counting. Not the Singapore government obviously.
Nvm - morevfrom the East European countries, Hong-Kong, Taiwan, India and Russia.
Absolute safe haven - and a complicit government and celebratorily welcoming banking systems - Maju lah Singapura 😊
Debts problem in Singapore Government..in my Country Papua New Guinea also has more debts...then where did the money goes to?
Without Investment return from sg reserves, sg will run into deficit.
Japan has debt >200%, so the statement of Singapore with highest debt show the content is not properly reserch or with some hidden agenda
The Singapore government's assets are much. much higher than its debt, meaning Singapore has NO NET DEBT. End of story.
How do u know? 😂
Im singaporean,
remember rule no 1.
Never pay full cash to buy property.
Singapore is the number 1 in the world in managing finance.
Try again, "Behind Asia"
Yeah, you can't even enjoy your CPF money since the government pegs it with national debt. 😂
Temasek n GIC r opaque, only a handful of people knows if the reserves r still there !!!!
Temasek is accounted and reports its value annually. Assets are currently valued at 382 billion SGD in 2023. while less transparent, has a reported asset of 770 billion USD in 2023. Both are available on Wikipedia. Combined, these are just some of Singapore's reserves that can be counted. There are some that are less clear - e.g. total weight of gold held, foreign currencies, etc.
Im very happy here, however much the debt 😂😂😂
Ruling PAP (since independence) to repay
Without natural resources, but with huge debt, Singapore can sink quickly due to capital outflow when a major war happens (ie China vs Taiwan).
Interesting as not very far there is Hong Kong that has one of the lowest Debt to GDP ratio
Why can US do the same? R this supervpower not as intelligent as us?
Just like Japan pushing her Sing dollar.
Smoke & mirrors excuses for incurring debts.
Singapore's national debt = Owe from Singaporean CPF.
Singaporean pension day = Hardly to withdraw their own money. (Limited withdrawal, voucher scheme, etc)
Conclusion = Singaporean CPF pegged with National Debt. 😂
No debt cannot 😢
Merica ladZ 😅😂😂
Singapore owes money to its own citizens through CPF which it is desperately trying to delay paying back to us. 🤨😮💨☹
If more doses of safe and effective are administered...
No it's called a pragmatic retirement fund approach.
If they let everyone have their lump sums then when these same ppl spend it all they will complain that the govt is not taking care of them and that the govt is bad.
At the same time the govt doesn't adopt a pension system like Japan for eg because the debt burden will be too great on the future generations and eventually lead to a predictable increase in the tax burden.
Our social system is to help those who really need the help, and for ppl to be more accountable for their own retirement. The CPF system is an excellent balanced approach in helping to a degree a person's retirement, health and housing needs while not being too much of a burden on govt finances.
A number of Singaporeans are too short sighted to understand this.
The CPF money already pegged with National debt. 😂
Seriously do some homework before u even talk about Singapore's debt. Singapore never had any debt when we first started under LKY with attracting MNCs and manufacturing into Singapore. When Singapore transitioned into a Financial hub and regional Finance centre that was the time LHL(LKY's son) decided that Singapore had to have a debt system because without debt Singapore cannot be measured and rank base on how it manages this debt and performs it similar to banks lending money to u, if u dont have any debt the bank cannot determine your risk analysis because u dont have a track record so the bank can only lend u the minimum amount to reduce the risk to the bank.
So in a nutshell, Singapore have to than develop this huge so called debt by issuing bonds to borrow money and then paying it back consistently and on time to be rank thus this enhances its debt ratings high so that it can be trusted as a financial centre in the region and in the world....
Once u understand this simple fact than u know your video is just fluff without real substance.
Chun bo? Luan luan Lai one ah?
Debt free is the best.
As a Singaporean, allow me to explain in a simpler way.
We have 40% of foreigners among our population.
The funds they brought in, be it invested or deposited into the banks, are considered as debts.
These funds made up most of the national debt.
No, the funds rich foreigners bring in manifest as investments into real estate or safe-guarded by Singapore banks due to low taxation. They are not part of national debt.
Without foreigners u all ( cinaporean nothing) 😂😂😂😂
Cinaporean can work 12hours??