SG Talk

Sovereign debt powerhouses: Singapore and the U.S.

On a per-person basis, the citizens of the small yet mighty Asian nation of Singapore shoulder the heaviest sovereign debt globally. Every individual in this bustling city-state is apportioned a whopping $117,400 share of their national debt.

This finding is based on a meticulous analysis spearheaded by Russia’s RIA Novosti news agency, known for its comprehensive coverage of economic affairs.

Hot on Singapore’s heels is the U.S., where each citizen carries an imposing $93,000 debt burden. The United States’ total debt crossed a historic threshold, breaking the $32 trillion mark for the first time in June.

This escalation occurred in the aftermath of a bi-partisan agreement between the Biden administration and House Republicans to increase the country’s debt ceiling at May’s end.


https://www.cryptopolitan.com/debt-ranki...re-on-top/

That's because of buying HDB flats and pay back in 30 years. I think these are safe debts as proven since the start of HDB about 50 years ago.  

(25-07-2023, 09:34 AM)Huliwang Wrote: [ -> ]That's because of buying HDB flats and pay back in 30 years. I think these are safe debts as proven since the start of HDB about 50 years ago.  

it is still debt. what safe debt?

they artificially pump up the price of land and flats lah.

knn...what kind of bastard govt makes their people shoulder so much debts....totally incompetent

(25-07-2023, 09:34 AM)Huliwang Wrote: [ -> ]That's because of buying HDB flats and pay back in 30 years. I think these are safe debts as proven since the start of HDB about 50 years ago.  

HDB valuation $1,000,000 yet, per person carried $117,400 sovereign debts.

Good odds

(25-07-2023, 09:42 AM)Klesk Wrote: [ -> ]it is still debt. what safe debt?

they artificially pump up the price of land and flats lah.

A house is Bukit Timah is more expensive than one in Yishun or Jurong West.

A house in Singapore is more expensive than one in JB.  Same size, same shape, you can build it identically using the same blueprint, but it's a lot cheaper in JB.  PAP artificially inflated the prices in Singapore?  What are you talking about man?

You need to see Jamus, who can teach you Econs 101 about how property prices come about...

Luckily, I am not in debt.
No need to be one of housing slaveries in Sg.

It goes to show HDB is a political and wealth tools for Govt to accumulate reserves and votes.

These policies has to be consistent for long run to be effective. But the HDB tools has hit the ceiling because they cant forever inflat HDB prices.

When the music stops, don’t be the last one to run.

US high interest rate will make many ppl bankrupt and companies go into bust.  

The worst thing is US bonds, lesser and lesser bond investors are buying.

BTW, there are debt lah, CPF are also debts our Gov owe us ... aiya ..... 1st Aug I get hands out 

don't wori in this trillions Dola pie
wat ours only 2 digits maybe 10B Dola
rest yangRens
we must grab only Money like gold CDC voucher singlion knows u don't understand voucher is money
don't wori just think drop cannot repor ahSIR
once u studyBoyED alot become easier like why u kena TOXchamED
and now chanchanKong primary care tioCanSir TioDiabetes tioHeartattack

The SG swf is so embarrassing huge that it shows very clearly the people's money are not channelled back to support the people but invested elsewhere.

It's the reason why you're paying heavily for general medical care and tertiary education while most developed countries are giving it out for free, not to mention GST.

IAM singlion

It's not accurate to say sinkies are shouldering the debt when we are actually the creditors. It's because sinkies' CPF funds are lent by MAS to GIC. This the sovereign debt's creditors are ultimately sinkies.

(25-07-2023, 11:52 AM)starbugs Wrote: [ -> ]It's not accurate to say sinkies are shouldering the debt when we are actually the creditors. It's because sinkies' CPF funds are lent by MAS to GIC. This the sovereign debt's creditors are ultimately sinkies.

Majority utilised CPF savings to buy HDB and heavily in debts for life.

When HDB prices go up, debt level increases. IE borrowed more $$$

.
If the consultants reports is wrong, the Govt will react

"Singapore, the United States and Japan top the global chart in terms of sovereign debt per capita, according to research based on U.N. data. according to the study."

https://news.bitcoin.com/singapore-us-wi...he%20study.