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1/24/2009

Gems of Parliament

'Tapping into past reserves, instead of exhausting current savings, allows the Govt to act quickly to deal with future challenges.' The above is quoted from Jeremy Au Yong's article, quoting Tharman Shanmugaratnam. Don't use current savings. Use the reserves. This is another logic that lesser mortals can never comprehend. CPF, do you understand the logic? If you do, please allow the people to use their savings in the CPF in times like this instead of their little savings in their bank accounts. And many don't even have any savings and can only rely on their CPF savings.

10 comments:

Anonymous said...

They may one day consider this idea of allowing the use of your CPF in times of recession. But is that really in the best interest of Singaporeans?

I would rather that any form of help be funded by the reserves, which you and I can never ever lay a hand on in a thousand years, than to deplete our own CPF savings, which we may still have at least a decent chance to lay our hands on, never mind even in drips and draps and in old age.

redbean said...

the using of the reserves is a general help for all. some may need more but could not touch their cpf which is quite bloated.

Anonymous said...

Call it whatever, all of it is our money. What's the difference? Unconfuse me plz

Anonymous said...

All of it is our money. I am begining to feel very rich already!

Jaunty Jabber said...

'Tapping into past reserves, instead of exhausting current savings, allows the Govt to act quickly to deal with future challenges.'......is this an indication that there isn't any current savings?

Does speaking in an abstract way a technique acquired by our MPs? Why the need to mystify?

redbean said...

green peas posted in www.redbeanforum.com an article called 'hidden budget' in the thread 'Gems of Parliament'. he has a different interpretation on this.

Anonymous said...

RedBean,

PAP has no alternative as it is truly money no enough for PAP now.

If you consider in the budget deficit of 1986,which was S$2.5 billion and 6.3% of GDP then,now 23 years later,a S$8.7 billion budget deficit.

Taken into account the inflation thses 23 years,Minister Tharman & PM Lee's today S$8.7 billion is only about S$ 3 billions in 1986 dollars,only 20% increase over the mild recession/downturn of 1986.

Worst,the chunk of the peanuts they delegate to the panic striken bankers,for whom the last thing on their minds right now is to lend & try to make some money,they only tot of how to collect their endangered money-an almost impossible task ,ha.

I tell you,Minister Tharman and PM Lee cannot be said to be guys of proper prospective.

Mark my words,more peanuts on the way,most probably by July 2009.But I cant give a pass mark to PAP for their silly economic management.Although 66.67% said beri good,and they are the majority.

The citizens do deserve the government that they voted in.

Kong Xi Fa Cai to all

Sinner-Singapore

redbean said...

Gong Xi Fa Cai to you sinners and all. cheers.

Matilah_Singapura said...

No extra money should be spent, if these idiots really understood the natural laws.

A contraction is economic activity is a GREAT OPPORTUNITY to reduce the size, power and influence of the state.

The govt is in 'bailout' mode not to protect anyone else but itself. The govt is pumping money so it can command more private resources and divert them into the states coffers.

The govt is 'bailing out' institutions to protect its own tax base.

I say again: the govt is doing all this meddling shit to protect itself. The govt doesn't give a fuck about you, or your family.

redbean said...

they have forgotten what the americans have preached. booms and busts are part and parcel of the free economy. the fats must be squeezed out to be trim again.

the americans are prolonging their agonies. we are delaying it.