Is there a black hole in government reserves?
With an estimated more than $1 trillion reserves, there is no justification for another GST tax hike. That PAP has insisted on raising GST by 2% after GE2020 has raised concerns about the state of our reserves. This is because a $1 trillion reserves generating net/expected real returns of 4% amounts to $40 billion. (Excluding...
Budget 2018: PAP tries to paint rosy picture of Singapore’s going-nowhere economy
Before Budget 2018 was announced, MSM had tried to paint a picture of “Singapore’s strengthening economy”. (Budget 2018: Economists expect bumper surplus for 2017) According to MSM’s sought-after economists like OCBC’s Selena Ling, she had expected an overall surplus of $5.41 billion for FY2017 due to our healthy...
What Economics Can Teach Us About The Irresponsible Fiscal Policies Pursued by Germany and Singapore
It is always remarkable how much praise Singapore gets from liberal or left-leaning economists who should know better. A few years ago the Nobel laureate, Joseph Stiglitz, held Singapore up as a model of how to achieve economic growth while prioritizing social equity and income equality. I thoroughly debunked his arguments in...
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