To MPs who talk cock about depleting reserves - read this!

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An honorable member of the Coffee Shop Has Just Posted the Following:

Many jokers are screaming about depleting our national reserves without knowing what cock they were talking about. Do they know how much is in our national reserves, how much is being used for whatever schemes to help the people and how much is being put into the reserves or how much is the reserves growing, and how much is enough? Or are the reserves at such a low level, being depleted by losses that it is in danger of being depleted? As an analogy, if our reserves are $1 trillion, and growing by $20b annually, what is the fuzz if the Govt is taking out $15b to throw at the people? If what is being taken out is less than being put in, how can it be depleting?

There are many simple questions that needed to be asked about our reserves. How much is there? Is it growing or depleting? How much is enough? What should the excess be use for? Does anyone know anything about our reserves? Does any joker in Parliament know how much is in our reserves before crying father and crying mother about a few billion being spent? Are they really concern about the big money that belongs to the state and people when they are contented with grappling at this huge grey shadow called reserves but not knowing what exactly it is? President Ong Teng Cheong asked about it, to know how much was there, and only then could he or anyone be making sense in what they are talking about. Tiok boh?

Would the Govt of the day make a policy statement on our reserves, how much it is, what is the rate of growth, presuming that it is growing and it should be if the two SWFs and MAS are investing wisely and making profits instead of losses. Would the Govt take a position as to what percentage at what level should be used for the benefits of the people? It doesn’t make sense to have an unlimited number and to keep on accumulating the reserves for the sake of growing the reserves and not benefitting the people?
And before another joker scream in fear, until face white white, that our reserves are being depleted please make sure you know what you are talking about. If the amount to be spent is less than the amount being used, it cannot deplete the reserves. If the fund managers of our reserves are making positive contributions with profits from their investments, and with more injections of new funds, the reserves will not be used up by a controlled and limited expenditure for the good of the people.

How much is our reserves? Do you know? Don’t be a clown crying wolf whenever someone suggests using some of the reserves or sharing some of the profits from the reserves. It may be time that we grow the reserves at a slower pace with a greater portion of the profits being used to better the life of the people, to let the people enjoy a bit of the combined wealth of the nation.

What is wrong with that? You only start to deplete the reserves when you are spending more than you are putting into it? Is the Govt spending more and putting less into the reserves?

Chua Chin Leng aka redbean

* The writer blogs at http://mysingaporenews.blogspot.com


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