Singapore Reserves = Goose? I sense danger.

Budget time is always interesting time. It is even more interesting in times of economic uncertainty. People start to say stupid and sometimes dangerous things in parliament.

Here’s a dangerous term: Our goose that lays golden eggs.

“Lim Wee Kiak, MP for Sembawang GRC, said: “Our reserves and investments must have also taken a hit and decreased just like all asset classes in the global market. How much of our reserves is left after the spending on these two programmes? Can the Finance Minister assure the House that our goose that lays golden eggs year after year will continue to do so after this withdrawal and after this financial shock?”
– Channel News Asia

It is very dangerous for a member of parliament (or anybody else) to see our reserves and investments as a goose that lays golden eggs.

Unless your name is Jack, and you have a pouch of magic beans, such geese do not exist. It implies that he thinks our reserves accumulated over the years without any effort required and are easy money.

We keep a very strong team of people (I hope lah) to manage our wealth. Pay them shit loads of money to maximise returns. If it was a goose, we only need poultry feed to maintain our reserves. If our reserves are equated to a goose, then there is no need for the GIC or Temasek Holdings and in maintaining their head counts. We just need ol’Macdonald and his farm.

It is dangerous when people in parliament think our reserves, accumlated over a generation can be equated to a goose.

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