Budget surplus does not count land sales

[phantom_opera]

http://www.tremeritus.com/2013/03/25/budget-surplus-3-9b-or-36b/

it seems garmen has more and more budget surplus from GLS (if you count them)

ignore the opposition rhetorics ... just look at table 2 3rd column which basically is diff of GLS (X2 that of 2005)

M2 also double from 2005 ha ha ha

[sgbuyer]

http://www.tremeritus.com/2013/03/25/budget-surplus-3-9b-or-36b/

it seems garmen has more and more budget surplus from GLS (if you count them)

ignore the opposition rhetorics ... just look at table 2 3rd column which basically is diff of GLS (X2 that of 2005)

M2 also double from 2005 ha ha ha



That's why do not buy local bank shares. Money supply is created by banks through credit creation, but all credit needs to be returned at the end of the day. What happens if the bubble bursts?

[eng81157]

http://www.tremeritus.com/2013/03/25/budget-surplus-3-9b-or-36b/

it seems garmen has more and more budget surplus from GLS (if you count them)

ignore the opposition rhetorics ... just look at table 2 3rd column which basically is diff of GLS (X2 that of 2005)

M2 also double from 2005 ha ha ha


it's an open secret liao :beats-me-man: :beats-me-man:

i've long told my friends that we, as a nation, are truly spending ikan bilis amount on healthcare compared to the rest of the 1st world economies and some 3rd world countries (and i'm not even talking about the western world healthcare models)

when your defence budget is 4-5 times of your healthcare budget and you are not israel, s.korea or taiwan, then you are seriously screwed up

[mcmlxxvi]

http://ifonlysingaporeans.blogspot.sg/2011/11/government-land-sales.html

"SLP International research head Nicholas Mak said revenue from land sales goes towards the nation's reserves and, as custodian of the state's land holdings, the Government reserves the right to reject a bid if it is deemed too low."

my understanding is that reserves are in custody of the President and not reported in budgets. right?

[eng81157]

http://ifonlysingaporeans.blogspot.sg/2011/11/government-land-sales.html

"SLP International research head Nicholas Mak said revenue from land sales goes towards the nation's reserves and, as custodian of the state's land holdings, the Government reserves the right to reject a bid if it is deemed too low."

my understanding is that reserves are in custody of the President and not reported in budgets. right?

not entirely true. remember president ong's request to have full access to the account books, only to get rebuff by MoF that it takes a trillion light years to get him the information.

(okay, i was exaggerating about the trillion light years but you get the drift)

[mcmlxxvi]

www.channelnewsasia.com/stories/singaporelocalnews/view/1246428/1/.html

[mcmlxxvi]

not entirely true. remember president ong's request to have full access to the account books, only to get rebuff by MoF that it takes a trillion light years to get him the information.

(okay, i was exaggerating about the trillion light years but you get the drift)

yes... but my mind was too innocent to grasp the full implication of that event then.

it was said, 56 man years. just put 112 men on it and complete in 6mths. why didnt the president go ahead?

the rationale given was that valuation only takes place upon a imminent sale of any particular piece of land. and that valuations will change according to the state of economy and global business environment. so producing the full valuation list will be an exercise just for the sake of it. im sort of leaning towards in agreement actually, from the logical point of view.

[phantom_opera]

last time valuation used to be complicated .. now is very simple ... just peg to GOLD

[eng81157]

yes... but my mind was too innocent to grasp the full implication of that event then.

it was said, 56 man years. just put 112 men on it and complete in 6mths. why didnt the president go ahead?

the rationale given was that valuation only takes place upon a imminent sale of any particular piece of land. and that valuations will change according to the state of economy and global business environment. so producing the full valuation list will be an exercise just for the sake of it. im sort of leaning towards in agreement actually, from the logical point of view.

if it is a lego construction exercise, perhaps you can chop it up into smaller blocks. i believe it is not feasible for a complex activity such as valuation.

while i agree valuations are dynamic, MoF can always conduct an exercise based on a specific timepoint. if there is a will, there will be a way. the whole rhetoric put forth by MoF is quite absurd

on one hand, i am entrusted to safeguard a piggy bank and it is a given i must know how much there is in it. i am accountable whether the piggy bank gains or loses even one cent. then when i ask the accountant for an amount, i get told that there is no point for me to know the amount i am supposedly accountable for.