Chitchat PAP made Singaporeans all bankrupt!!

[WujiBo]

In the map above, you can see each country with a number representing the amount of money each person owes towards the country’s debt. In the legend, countries are designated a color based on public debt as a percentage of GDP. The more each citizen of a country owes, the closer to the center of the map the country is. All figures are in US dollars.

the-snowball-of-debt-c4dcCountries where people owe the most

Japan: $85,694.87 per person
Ireland: $67,147.59 per person
Singapore: $56,112.75 per person
Belgium: $44,202.75 per person
United States: $42,503.98 per person
Canada: $42,142.61 per person
Italy: $40,461.11 per person
Iceland: $39,731.65 per person
Australia: $38,769.98 per person
United Kingdom: $36,206.11 per person
Countries where people owe the least

Liberia: $27.44 per person
Tajikistan: $50.67 per person
Democratic Republic of Congo: $90.70 per person
Burundi: $97.62 per person
Kiribati: $126.98 per person
Malawi: $172.34 per person

Uzbekistan: $177.13 per person
Uganda: $194.23 per person
Haiti: $204.33 per person
Mali: $207.54 per person
Right in the center of the map lies Japan, the country with the highest amount of debt owed by each person. Japan has been piling up debt since its “economic miracle” wore off in the 1990s. Each Japanese person owes $85,694.87 towards Japan’s national debt, far more than any other country. Ireland also stands out from the crowd, with each Irish person owing $67,147.59 towards Ireland’s national debt. All of the other countries with a high amount of debt owed per person are developed nations like the United States, Belgium, Austria, United Kingdom, Italy, Germany and others. Developed nations are able to borrow more money because investors generally trust wealthier nations will pay back debt in full. Still, many wealth nations have a staggering amount of debt owed.
The countries with the lowest amount of debt owed per person are relatively poor nations. Liberians owe the least amount of money towards their country’s national debt at $27.44 per person. Other poor nations with low debt include Democratic Republic of Congo, at $90.70 per person, and Haiti, at $204.33 per person. Poor nations usually do not have the opportunity to take on national debt because investors are unwilling to offer loans to these nations. There are a few exceptions to the trend of poorer nations owing the least amount towards debt per person. Taiwan is a relatively wealthy nation with a large economy compared to the size of its population, but each Taiwanese citizen only owes $7,223.90 towards Taiwan’s national debt.

he trend in the chart is pretty clear: wealthier nations have more debt. Japan, Ireland and Singapore are above the trend, with Japanese people in particular owing a lot towards their country’s debt. People living in developed countries owe quite a bit towards their country’s national debt, while people living in undeveloped nations owe very little.

 

[hsienloong]

Can always issue more shares, toilet papers or pink ICs to dilute the amount liable per head.

 

[iluvgst]

debt, just like retrenchments, is good. if no debt i worry.

 

[mojito]

Sinkies owe govt money, govt owe sinkies money. It all the same. Dun worry about it.

 

[eatshitndie]

best is north korea. no debt at all. just life in the kimchi gulag.

 

[babuSingh]

The govt dont put a gun to your head and force you to buy the mercedes that your friend is driving or the Condo that your colleague just bought for 1.4million on a 8k salary

 

[no_faith]

The ppl in debts but does not hurt Miw.

 

[Charlie99]

The govt dont put a gun to your head and force you to buy the mercedes that your friend is driving or the Condo that your colleague just bought for 1.4million on a 8k salary

But the govt, and/or govt affiliated agencies do not have to use market level compensation for the MP's and politicians, as well as senior civil servants,
and including the estimated value of land in the pricing of 99 year lease for HDB flats.

 

[hsienloong]

[h=1]What is Public Debt?[/h]Public debt, which is also sometimes referred to as government debt, is all of the money owed at any given time by any branch of the government.

It encompasses debt owed by the federal government, the state government, and even the municipal and local government.
It is, in effect, an extension of personal debt, since individuals make up the revenue stream of the government.

Public debt accrues over time when the government spends more money than it collects in taxation.
As a government engages in more deficit spending, the amount of debt increases.
Many different types of debt make up public debt.

A great deal of it is external debt, which is money that is owed by the government to foreign lenders,
either in the form of international organizations, other governments, or groups like sovereign wealth funds, which invest in government bonds.

Government debt is also made up of internal debt, where citizens and groups within the country lend the government money to continue operating.
In some ways, this is a lot like lending to oneself, since ultimately the responsibility for it falls back on the very people lending money.



Governments with strong economies, who are well trusted in the world, are able to raise funds by issuing their own securities, usually called government bonds.
Individuals, other nations, and groups buy these bonds, and the government promises to pay them back at a certain, usually fairly good, interest rate.
Less robust governments, who do not have the trust from the world to be able to issue bonds and expect people to buy them, may turn to international institutions,
or even normal banks, to give them loans, usually at less favorable rates.


Some people use the term public debt to refer not only to money directly owed in the form of securities that can be collected on by a government,
but also on the pool of money owed in the form of services and payments promised.
For example, pension payments the government may owe to its employees, or contracts the government has entered into but has not yet paid,
may also be included in some calculations.


This type of debt is usually broken down not only by an internal and external divide, but also by the length of the loan made.
Short-term public debt is foreseen to last only one or two years, so the turnover rate is fairly high.
Long-term debt is designed to last more than ten years, with some lasting considerably longer than that.
Mid-term debt lasts anywhere between three and ten years.

 

[melzp]

universally that's the way of governing a country.
to keep peasants working for their debt, lest they public demonstrate.

 

[cuckoldoolittle]

At the rate AssLoong and pap is spending and burning money recklessly,
10 million new toilet papers is desperately needed to cover up this public debt debacle.


SINGAPORE: Civil servants will receive a half-month year-end bonus, tax-payer's money anyhow spent,
with lower-wage civil servants receiving a minimum of S$900, the Public Service Division (PSD) said on Friday (Nov 25).


Together with the 0.45-month mid-year bonus that was announced in July,
civil servants will receive a full-year annual variable component (AVC) of 0.95 month in 2016.


The sum of this year's AVC is 0.2 month lower than last year’s full-year AVC of 1.15 months,
with a minimum year-end payment of S$1,100. "The lower AVC is in line with the lower economic growth for 2016 compared with 2015,"
PSD said in a media statement.


"The Singapore economy grew by 1.1 per cent on a year-on-year basis in 3Q16, slower than the 2.0 per cent growth in the previous quarter.
The Singapore economy grew at a slower pace of 1.7 per cent in the first three quarters of 2016, compared to 2.1 per cent over the same period a year ago.

"Taking into account the global and domestic economic environment, the Ministry of Trade and Industry has forecast that the economy will grow by 1.0 per cent to 1.5 per cent for the whole of 2016."
The PSD added that around 1,900 civil servants will benefit from the minimum AVC payment of S$900.

"For example, an officer earning a monthly salary of S$1,500 will get a year-end AVC of S$900.
This is S$150 more than what he would get at 0.50 month of his monthly salary (which would have been S$750),"
it said.

It added that the year-end AVC payment, including the minimum payment, was decided in consultation with the public sector unions.Ms Cham Hui Fong, Assistant Secretary-General of the National Trades Union Congress (NTUC) said that while the total payout package is "relatively lower than recent years",
the labour movement and public sector unions are "supportive" of the lower quantum, given the current economic climate.


"In light of the narrowing GDP growth forecast ... coupled with the uncertain outlook for 2017,
the payout package fairly reflects the Government’s financial prudence while taking into account the recommendations by the National Wages Council," Ms Cham said.

"The labour movement, the public sector unions as well as the relevant Government agencies will continue to push ahead with targeted measures to
collectively help our working people up-skill and re-skill, and be ready to take on future jobs during an up-turn.”


Mr G Muthukumarasamy, General Secretary of the Amalgamated Union of Public Daily Rated Workers (AUPDRW) said the payout will "go a longer way to help our low-wage workers".
He noted that it was "a timely sum to help our members cope with year-end expenditure, such as (their) children’s education and back-to-school spending.”


Mr Yeo Chun Fing, General Secretary of the Amalgamated Union of Public Employees (AUPE) said that AUPE
"understands that the rewards for civil servants have to be moderated" but that it is nevertheless "appreciative" of the 2016 payout.


"Our civil servants have been working tirelessly to deliver quality public services and push forth initiatives to boost our economy,
transform our industries and uplift the skills of our working people,"

Terrex AFV confiscation in HKG: The Implications and Revelations



Mr Yeo said. "We look forward to better rewards when the economy recovers.”

All civil servants will also get the non-pensionable annual allowance (NPAA) of one month, to be paid in December together with the AVC.


http://www.channelnewsasia.com/news...5-month-year-end-bonus/3317974.html?cid=fbcna

 

[syed putra]

But per cspita income more than offset that debt load. Japanese people csn pay off thst debt within two years of their pay.