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In terms of economic challenges, the national debt isn’t our biggest problem. Sure, it needs to be sorted out, but at only 80% to GDP by the most conservative measure, it’s manageable and we can service it w/o resorting to messing around w/ public finances and assets.
In terms of economic challenges, the national debt isn’t our biggest problem. Sure, it needs to be sorted out, but at only 80% to GDP by the most conservative measure, it’s manageable and we can service it w/o resorting to messing around w/ public finances and assets.
The US’ govt debt is 105% of GDP; UK 88%; SG 110%-these measures tho, don’t take into a/c contingent liabilities like the recently announced @MOFmalaysia numbers. If they did, the % would be far higher.
From a balance sheet perspective, our problem is not on the liabilities side, it’s on the assets side. Thanks to crap like #1MDB some of this debt is sitting on overvalued or worse, non-existent assets #bitchbetterhavemymoney
