Transcript of the above video: 

There have been some that have said that I may have a chip on my shoulder with regard to Singapore. It's really not Singapore's fault, Singapore didn't do anything. It's more the perception of Singapore especially by Westerners compared to Thailand and it just galls me sometimes when I see stuff and I'll be like, if that was Thailand, the West would throw us under the bus. I mean, and I don't get it. What am I talking about though? 

I thought about making this video after reading a recent tweet by a Kathleen Tyson on Twitter, and she is apparently a former Central Banker. I am going to go ahead and quote: "Updated government debt ranking for 30 major economies. The most surprising contrast is between Singapore 162.1%" - this is debt to GDP ratio okay - "and Hong Kong 6.5%." So Hong Kong has a 6.5% debt to GDP ratio. Singapore is sitting around at 162.1%. "Singapore gets a note about gross versus net but seems to me that might be significant for others too." I'm going to put a link in the video, over to another video where I did some research on this and how they talk about their debt is somehow magically special compared to other people's debt and that's why they shouldn't have to - it's not as concerning as it seems. Quoting further: "Same applies to the note on China about local government debt. If UK and US included sub-regions debts, they might approach or exceed Japan. My local council has borrowed some more than 1.4 billion pounds in the last 5 years for dodgy real estate "investments" and isn't the worst offender." Then, more importantly they go ahead and put this image up which I'm going to put it on screen, or she puts this image up, which I am going to put it on screen and this is government debt, this is a metric and if you look, Thailand is actually there, number 19 with 62.4% which unfortunately, because of the nonsense associated with COVID, they managed to railroad through increasing our debt to GDP ratio even though the Thai people here were not for it. Nobody really here wanted to do it because we don't want to let the Government go into debt, then use it against us to make us go through more lockdowns or whatever other nonsense they're going to put us through. But whatever, they did manage to get it raised up a little bit so Thailand's now up over that magic 60%, which in my opinion we need to get back down below sooner rather than later. And I don't care about the sort of platitudiness talk of folks running around here in Thailand saying we are in some kind of terrible economy and therefore we have got to just start handing out helicopter magic bean money made out of digital ether air, I don't know, okay. What I do know is sound fiscal policy, sound monetary policy begets a sound economy; sound economies get people fed; people who get fed are happy and they keep working and the feedback loop continues. 

But back to Singapore sitting here with 162.1%. Now I went through that video, I'm going to put it up in the links below and honestly, it's just another one of these instances where Singapore gets a pass where other countries don't. It's like with their political system. It's a one-party system and anywhere else people would be like, "well that's a problem, that's problematic". That is what you would hear. “Problematic” from people that would say such things. That being said, not a peep, "well Singapore is special blah blah," you know, whatever, it's just it gets a pass. Now with this debt thing, one of the biggest things I thought was interesting when I was looking into that and again in that link to that video, you can look at all of this, but one of them was they said, "well we've used our national debt as part of our pension system", which somehow that then rectifies all of this, which then leads me to ask the question if you will, "okay so you either have 162% debt to GDP ratio which is problematic for your nation state, but you said you've used this national debt as part of your pension scheme, so it's going to go back to your pensioners." So then you have an unfunded pension system to the tune of what? It's one or the other. Do you see what I mean? But they have sort of balled it up and then in that video they sort of kind of rub it all together and sort of make it like, "oh it's all okay". I'm not saying there's anything unsound about Singapore, there isn't. But what I'm saying is, anybody with a debt to GDP ratio over 100% you should seriously be sitting there going "why?" and again I think when you dig in, again you'll see that day to day, Singapore is fiscally sound. I am not really worried about that, that's not my point. My point is why does Singapore get a pass on something like that? Meanwhile, if Thailand was rocking those kind of numbers, you would been telling us we were third world and we probably need some UN Mandate over here or something. It's pretty ridiculous.