Many young guys here just take the current situation in SG
for granted.U need computers in schools,u will get.
u need football fields ,u will get.Of course,your wish list cant
be
fully fulfilled.
u only know SG have lot of Sovereign Wealth Fund,
most likely the no.1 per capita.
SWF in other countries were set up when they have
too much $$ to manage,
but not in this poor red dot city/country.
Do u know Temasek was set up in 1974 ,when SG was still a
third
world country,barely just solved the 14% unemployment
rate after involuntarily kicked out from Malaysia in 1965?
Many then still lived in slums and squatters.
So ,Ho Ching is right to call Temasek
http://www.temasekholdings.com.sg/media_centre_news_speeches_250608.htm
Acceptance Remarks by Ms Ho Ching
Executive Director and CEO, Temasek Holdings
At the Asia Society's 21st Annual Dinner
25 June 2008, Washington D.C
It was set up to earn few more bucks to provide the much
needed
$$ for gavaman
expenditures-----housing,hopsitals,reservoirs,
military hard wares,communal TV in
playgrounds...
yes very few can afford TV at home.
So TV were installed in playgrounds.
compare now u have a lap top in your table....
Dunt take it for granted,brother or sister.
We may be a small island without natural resource does that give
the leaders the licence to tax and tax and hoard the taxes and make
all kinds of profits from all the scams like GLCs to charge fees
again for services which in the first place should have been
financed by taxes paid.
If we do not have the natural resources does it mean that
citizens become the money trees for the government to tax and tax
and make all sorts of double and triple profits on lands like the
HDB or SLA are doing at their expense.
If there is to be no free lunch and no welfarism there should be
lesser government spending but do the citizens pay lesser
taxes?
Where is the logic that just because we lack natural resources
government must keep taxing and hoarding monies keeping most of the
taxes as surpluses to reward leaders themselves when ordinary are
struggling to pay all kinds of taxes and charges kept by leaders
for their own glories.
No wonder we have so much sovereign wealth funds. These
so-called wealth were not created by Temasek from micropolis or
shin corp investments but by the sweat and blood of every
citizen.
I will truly respect our leaders if these wealth funds were made
from foreigners through their abilities instead of being used to
rescue them at the expense of citizens' retirements.