Spore balance sheet

DrK

DrK

Well-Known Member
Re: Spore balance sheet

We're indebted because of CPF... it owes the people money. It's local debt. Correct me if I'm wrong. We are quite low on foreign debt.
 
Re: Spore balance sheet

detach8;828724 said:
We're indebted because of CPF... it owes the people money. It's local debt. Correct me if I'm wrong. We are quite low on foreign debt.
Click to expand...

Good one....so need money, increase cpf minimum sum some more....haha
It's the only debt that you tell your creditors I repay u when u are pass 55 or 60 and in instalments hor....haha.....this kinda cai Taos where to find :laughing:
 
Re: Spore balance sheet

Its the same as leveraging on current assets.

They just take the cash in hand, and borrow against it 10, 100, 1000 times over.

just that they (we) have so much cash, that we leverage a really huge amount.


Banks that lend us/businesses money, are confident of lending more at lower interest when they see we have more assets, more liquid assets, and have a consistent long term cashflow...

this is Singapore Inc....
 
Re: Spore balance sheet

greek/spain/italy go to market to raise money ... investors decide yield/rate ... now > 6%
spore inc raise money ... they decide the yield (cpf rate) and repayment period (extend draw down age)

bank can have bank run ... all go withdraw money and put under the pillow
cpf will not have cpf run ... even there is 100K people reaching 65 to withdraw money ... there is another 500K working people to inject new fund every month ... huat ah !

spore inc FTW :D

a wise man said ... i feel rich every month when i look at my cpf statement and hopefully cpf is still there for many years to come
 
Last edited by a moderator:
Re: Spore balance sheet

Hopefully hopefully... The people who barely make ends meet suffer the brunt. I think over time, they really have to substantiate the increase of the MS when the cost of acquring properties go up. Cos a bulk if not all of the CPF monies would be used to finance the flat, leaving not much for MS.

If they push the envelope furthur and mandate that people d/grade to top up the MS ... tsk tsk tsk
 
Re: Spore balance sheet

wt_know;828799 said:
greek/spain/italy go to market to raise money ... investors decide yield/rate ... now > 6%
spore inc raise money ... they decide the yield (cpf rate) and repayment period (extend draw down age)

bank can have bank run ... all go withdraw money and put under the pillow
cpf will not have cpf run ... even there is 100K people reaching 65 to withdraw money ... there is another 500K working people to inject new fund every month ... huat ah !

spore inc FTW :D

a wise man said ... i feel rich every month when i look at my cpf statement and hopefully cpf is still there for many years to come
Click to expand...

Yeah, thats the reason why Singapore Inc can post big profits and continue to claim big bonuses.... their cost of funds are so low

This is also the reason why we need inflows of FTs.... imagine 500k people reaching 65 and only 300k people injecting new funds... Sing inc will have their equivalent of bank run!
 
Re: Spore balance sheet

as long the debt is local, at most a country goes into a long term zombie, current example is japan & US states which r in deficit. So many US states declare deficit but nobody bothers coz its localized so theres no cross border contagion.

But, since garmen doesnt publish the actual reserves we have, we do have reason to worry since "nobody knows the debt/equity of say G!C, which is much bigger than temasick.
 
Re: Spore balance sheet

no one knows the actual reserves right ... not even the white hair guy

golfgti;828886 said:
as long the debt is local, at most a country goes into a long term zombie, current example is japan & US states which r in deficit. So many US states declare deficit but nobody bothers coz its localized so theres no cross border contagion.

But, since garmen doesnt publish the actual reserves we have, we do have reason to worry since "nobody knows the debt/equity of say G!C, which is much bigger than temasick.
Click to expand...
 
Re: Spore balance sheet

wt_know;828927 said:
no one knows the actual reserves right ... not even the white hair guy
Click to expand...

Correct me if I am wrong, I thought Mr KFC used to be on board of GIC?
 
Re: Spore balance sheet

Mr KFC also hearsay somesay related to the familee?
 
Re: Spore balance sheet

detach8;828724 said:
We're indebted because of CPF... it owes the people money. It's local debt. Correct me if I'm wrong. We are quite low on foreign debt.
Click to expand...
Yups, all the debts is owning citizens.

Frankly I doubt they can pay back all who is entitled their money otherwise, why keep pushing withdrawal age limit up and minimum sum increase? Delay tactic which is also digging deeper into the grave, sigh.
 
Last edited by a moderator:
Re: Spore balance sheet

If you read carefully, the reserves can be more or less worked out by looking at the general revenue over the years from 1970s onwards. To put simply, add on our yearly reported surplus, GIC/Temasek revenues and we should get a ballpark number.

Now the question here is a matter of missing figures vs transparency in accounting rules. Using reported figures from MOF to IMF (you surely cannot forge this right), work out some numbers and it was found they don't tally to what GIC and Temasek reported in their annual reports. So either money went missing in a Ponzi scheme aka Mr Madoff or MOF played trick on account-reporting which is a serious offence. Maybe Temasek/GIC grossly inflated their reported rate of return of 17%. Who knows? The numbers just don't add up whether you include CPFs, reserves, reported numbers or reported growth.

To repeat what the study summarised, we are not seeing 1.3 trillion reported anywhere. This deficit comes from the allegedlly-correct number of 2.2 trn and 700bn reported by govt. Possibly 2 scenarios here why. One, money siphoned away. Two, we are making so much losses that we are covering them up with fake growth figures. This is definitely a case of number-massaging and creative accounting.
 
Re: Spore balance sheet

long time ago ... a young chap asked and an old man answered

[video=youtube;UXoNE14U_zM]http://www.youtube.com/watch?v=UXoNE14U_zM[/video]
 
Last edited by a moderator:
Re: Spore balance sheet

wt_know;828927 said:
no one knows the actual reserves right ... not even the white hair guy
Click to expand...

Coz it will take dunno how many man years to calculate... must understand abit leh.
 
Re: Spore balance sheet

jaskin;829171 said:
Coz it will take dunno how many man years to calculate... must understand abit leh.
Click to expand...

hmmm... how do apple and microsoft know their position at any pt in time.... maybe thats why S-Chip companies dont give a damn to SGX since we ourseleves cant be sure of our own financial positions
 
Re: Spore balance sheet

My question is, isnt it our right as SG citizens to know what our garmen is doing w our money? What right have they got by not telling us?
 
Re: Spore balance sheet

golfgti;829399 said:
My question is, isnt it our right as SG citizens to know what our garmen is doing w our money? What right have they got by not telling us?
Click to expand...

well... we continutally vote them in even with hardly any accountability... no need to tell us also win so just stfu lor
 
You must log in or register to reply here.

Latest posts

Members online

Total: 278 (members: 1, guests: 277)

Forum statistics

Threads
82,734
Messages
1,019,263
Members
73,855
Latest member
nohudoithuong2

Latest posts

Ad | 📈Learn Trading Strategies, Lessons and Setups
Back
Top