this document which covers the conversation doesnt seem to have numbers?
The one you appears to have looked out have:
https://blog.seedly.sg/how-is-cpf-managed/
#4: No CPF monies go towards government spending.
#5: This strong reserves position can be seen from the Net Investment Returns Contribution (NIRC), which is the investment returns that is available for spending on the Government Budget.
If the money goes to investments and the return on those investments fund the gov what hair are you splitting?
Its just a throw away line to fool the fools
Hence no fund and no protected investments or they could publish the position of the cpf but cant as its just gets IOU from the treasury and they are struggling hence the statement that the last $500 billion in debt issued some will be used to ensure they can fund CPF payouts amongst other items of expenditure.
I cant believe they published that in the paper but they did
I have posted links to that article last year year when the gov agreed to increase the borrowing limits
More Singapore nostalgia from my young and tender days:
PS: I had been walked those streets and calling Singapore home for 5 year already in 1972.
Back then I could afford to take my new wife to Raffles.
In 1972 Raffles Hotel was not yet renovated, but you could still get Singapore Gin Sling at a reasonable price.
You just missed being server a Singapore Gin Sling by the inventor Ngiam Tong Boon. He died in 1971, but was still mixing drinks at the Long Bar until the end. (He didn’t have to make an effort to shake the sharker the last few years):
PS: Today it is said that Singapore Gin Sling, served by the hundreds at the Long Bar, is mixed in a cement mixer.
I’m pretty sure that my wife had a Singapore Sling then. We dined on the terrace under candlelight . If I were to repeat the meal today I would have to speak to my financial professional.
When Asia Insurance Building WAS the skyline of Singapore as seen from Eastern Anchorage:
Clifford Pier is just outside the picture on the right.
Aerial photo from 1960:
Now with Clifford Pier far right.
View of Clifford Pier, the Inner Roads, and Eastern Anchorage beyond the Detached Mole. The view today would be towards Marina Bay Sands and Marina South.
Another view of the Inner Roads and Eastern Anchorage. The Harbour Division of the Preventive Branch of the Department of Customs and Excise (Customs House today) can be seen at the lower right hand corner.
A rainbow over the Inner Roads.
Source: A journey through Tanjong Pagar in 1970 | The Long and Winding Road
PS: In 1971-72 I was Master on a small ship trading S’pore - East Indonesia. We used to anchor on the unregulated Inner Roads, where no pilot would go.
Singapore at independence in 1965 and at 50th anniversary:
Photos taken n the street back in 50s and 60s the people are smiling, cant see any smiling faces any more.
A cabbie said to me the other day, back then we were poor and didnt know it but we were happy
Never mind the “everything negative” attitude above, Here is more Singapore history for those who may appresierte a more nuanced view on things:
Sorry, the names of Kampongs and the groups of peoples that lived there are not very accurate in the text.
“Oranglau” is actually “Orang Laut” = Sea people: https://www.nlb.gov.sg/main/article-detail?cmsuuid=e586ffef-6277-4c3d-b463-bd14eefc914f
Now for the present and future Singapore. More specifically Singapore Container port:
Nice to live in the past but the rest of us are in todays reality here in Singapore and financial concerns are the major issue effecting just about everyone less those selling landed property to rich foreigners since the gov turned the tap on to hand out passports to foreign wealthy.
That makes a few have a nice retirement and the rest just get inflation.
The reality is the gov keeps hading out food vouchers, does that happen in a successful economy where the average person is doing ok?
PS the new Tuas port is on a go slow to completion and has been for a few years, not sure why that is?
You are harping up again and up again on the same unproven claims about how Singapore is doomed. Have you got any RELIABLE sources to back up your claims?
Is Singapore immune to the present geopolitical turmoil cause by external events? Of course it is NOT, but that is not only a Singapore problem. The whole world is feeling the effect of the Israeli/US attack on Iran and the aftermath, as well as the “trade wars” that is caused by the present US administration’s policy.
This may not be the best source of economic data, but prove them wrong:
If Singapore is such a bad place to be, get the hell out and find your heaven somewhere else.
such a clown, I post the links from the gov websites every time, look back up in the thread.
What are the vouchers for..a booming economy???
( yes airfreight and box traffic is up but its all storage and consolidation not a measure of the SG internal economy although its income)
All you can seem to find on the internet is SG gov propaganda
Can you explain why the level of debt issued has been growing since 2000?
Gov also stated in 2029 we will need more, so well past Japans debt to gdp.
Its a scary number for a country with only 3 million voters.
You must of read the only answer the gov has and keeps parroting.
" dont worry we have assets that cover debt’ who uses that measure?
Assets nobody can verify and at the rate of debt expansion is well past rate of gov asset groeth when does that story become;
We are worth nothing as assets and debt are the same value?
Gov never wants to talk about the size of the debt repayments, and thats getting significant.
More siginificant is in any discussion they dont include CPF debt even added to total debt nor the ratio of income to payouts in the cpf but they did say in the newspaper ( nov last year I posted that link) that some of the last debt issuance will be used to plug cpf and will last till 2029.
Gov ships out massive propaganda to fool the fools but still posts financial data for those that can read.
Non so blind as those that dont want to see
I checked and most of your post doesn’t have any links. The links you post are mostly to websites that is known to be anti-government, or to media that you say is a government mouthpiece, not to be thrusted.
Now back to some facts about Singapore that I have seen and experienced myself:
Life was good back in the 60’s in many countries, growth, opportunity etc
You seem happy living in those times and cant deal with the reality in Singapore today now that Singapore has lost its USP, a well run country that had cheap labour and a low value currency, everyone made money.
Now its we ( SG) dont know what do do to combat the loss of our comparative advantage. Coupled with very low productivity which is normally the wealth creator.
The pain for generations of Singaporean businesses is that they have never had to compete internationally, they always had a huge cost advantage. Now they dont.
Putting flunkies from the military in company positions was masked by the cost advantage, so now that they have lost that cushion the lack of skill and experience is showing through.
Lets open a casino.
Lets build some more buildings
Lets give passports to billionaires who need a tax free bolt hole
Lets import more cheap temp workers ( almost record level now)
2 million cheap workers, 3 million voters
Oh, damn inflation is killing the average person
Lets give out food stamps to soften the blow
Lets borrow more money to pay for the food stamps
I keep hearing from EU nationals who are leaving…we are closing the factory as cheaper for us in Europe.
Reality of that is the foreign sailing population dropping and boats leaving.
That is companies that have had 10 year renewable tax free status here.
They all say cant get workers, cant get skilled workers, too expensive to be here.
Local banks saying the same having to move large parts of their businesses offshore.
So no its not the hippy flower power psychedelic 60’s anymore that your mind is living in.
So will you be leaving this hideous place soon? It certainly seems to cause you distress to be there. Life is too short to remain in a stressful location when there are other options.
Lol
Its the locals that have been shafted in the current system not those foreigners that joined later with foreign tax free income, tax free megayachts, zero local income so zero pension contributions or any tax obligations etc etc.
The locals keep voting for a system that disadvantages them over foreigners.
The late LKY’s work only worked for a certain period as the great Goh Keng Swee realised and predicted where the economy is now decades ago but the Gov took control over the population rather than a future for the average Singaporean.
Here we are with continuous food vouchers as the locals are struggling.
Gov policy over decades has engineered them out of their own economy.
Very little the locals can can do about it.
Hence many leaving for a better future.
I know a few that have done the sums, doing same job for same period for same money will let the Aussie retire 3x wealthier than the Singaporean along with a far better lifestyle, cars, boats houses etc.
At least on death and they can will their house not spend a lifetime paying for it to give it back.
As locals work for multinational companies they are now exposed to that information
Majulah Singapura!!!
As usual, we are flagging here in Ålesund:
The locals certainly are enjoying their “rag to riches”, (or coolie to tycoon?) leap these last 61 years.
Hope you are enjoying the day as well 
, together with the other of “those foreigners that joined later, with foreign tax free income, tax free mega yachts, zero local income so zero pension contributions, or any tax obligations etc etc.”
I joined early, contributed my small shear, but didn’t escape taxes, nor ended up with a mega yacht and swollen bank account.
PS: I celebrate the day anyhow 
YAAAAAM SENG!!!
2016 National Day Parade:
