Has anyone heard of this SPS? The people have been bombarded with govt subsidies everyday that they are either going bonkers or numbed. If you read the number of subsidies that the govt is giving to the Singaporeans, the govt will be bankrupt long time ago. The latest is something like $60k for a 2rm flat that costs $90k. Wow, wow, how can be so much. Where is the money coming from? There university fees, $20k but pays $6k, and what else…? I am also thinking of giving subsidies to the people, cheap rice at $20 per kilo. My cost is $100. Please queue up.
Not to be distracted, what is this SPS? This is the Singapore People’s Subsidy to the Govt in the tune of hundreds of billions. The Govt calls it national reserves. Should it be called the people’s money or savings? How does this money become the national reserves? Or are they really two different things?
Have the citizens been subsidising the Govt in the tune of hundreds of billions through the CPF? Maybe not. Dunno where the CPF money is or with who. I have read that the two national sovereign funds did not borrow from the CPF. They something like borrowed from dunno where. But somewhere somehow, they got the money. Anyway, the Govt has a lot of money to set up big investment funds to pay huge salaries to big time investment managers to invest the money and make more money to pay themselves in big bonuses. How I wish I can be appointed as a director, no need to be Chairman.
Is there any linkage between the money of the two sovereign funds and the CPF money or the people’s money? If there is…, something like A lends to B and B lends to C and C lends to D, so legally, technically, D only borrows from C and got nothing to do with A. So A cannot claim that his money is now subsidising D.
But where is A’s money if it is not subsidising someone? And what is A getting in return? 2.5% or 4% interests that could easily be wiped out by inflation. Further, A cannot touch the money for a very very long time. Some may never in their lives.
This is the Singapore People’s Subsidy to the Govt. And this is real money, no mark up to mark down. Maybe I am wrong. Where got the people subsidising the Govt? I am talking rubbish.