for a country small like singapore, we can't do anything other than saving for the rainy day. by making the country rich, we will be able to stay on par with bigger countries.
How rainy should it ge and how often should this rain occur before one starts to buy an umbrella?
A rich country with poor people who are not taken care of is truly a poor country.
Temasek's profits include those from the monopolies that abound in Singapore. We pay tariffs on water. We pay even increasing transport fares even when there is no rationales to do so. It is also a known fact that Temasek has failed miserably in investments in Suzhou, Global Crossings, Micropolis, Chartered Semiconductor, Shin Corp, Optus and numerous other oveseas ventures.i think temasek has been making profit. isn't this what we want?
Without the mopoloies and the exorbitant fees for the companies wholly or partially linked to Temasek, Temasek's performance will be rather startling.
we dont need to spend more than other countries. is there a competition?
It is not a case or a matter of spending more or even less. It is about spending what is deemed right. We learn from other countries as we learn from other people. If other countries can reach developed status with a certain pattern of expenditure and its people are taken care off then it is truly a worthwhile venture to look into.
There is a difference between spending on people who need it versus spending $400,000 to rename Marine Bay, Marina Bay. Or spending billions on frivolous purchases of, at times, shady and/or shaky overseas companies.
maybe RoRK would like to contribute some funds to SOFT? coz I dont want to 'tax the poor to help the poor".
RoRK is also poor. Rork only has a MiM Strat, an Ovation Custom and a UX2. When RoRK gets his vintage Strat, LesPaul and a few Martins, a Kork Tritorn, a cool studio with an engineer on standby 24/7 then RoRK will help James to provide all the services he wants to have for Soft-ies.
Cheers
RoRK