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<blockquote data-quote="saraprobe" data-source="post: 25769071" data-attributes="member: 13914"><p>Not necessarily but it's just what has happened to SL</p><p>One party can't be blamed</p><p>SL needs hard reforms to come out of this mess</p><p></p><p>Again currency drop and central bank bond issue is different</p><p>Bond was set up so he should be jail including UNP heads</p><p>Currency issue is due to soft peg and money printing to finance gov expenditure.</p><p>We run on deficit , basically spending more than we earn, due to loans and too many government workers- very obvious</p><p></p><p>So when we print money it goes to the banking system, it's called sterilisation and end up buying back by the central bank and they make profit which is BAD <img src="https://cdn.jsdelivr.net/gh/joypixels/emoji-assets@5.0/png/64/1f923.png" alt="🤣" class="fr-fic fr-dii fr-draggable " style="" /> people think it's good ironic lol</p><p></p><p>So when wholesale money is printed rupee gets devalued so our import cost and loan repayment in dollars goes up - vicious cycle can't get out</p><p></p><p>Again as I mentioned before we should only chew what we can afford but politicians alway spend more due to pure ignorance and to satisfy voters</p><p></p><p>Government workers are the next issue Big fking burden. We have about 1.3 million when we really need about 6-700,000</p><p></p><p>Pension is another issue, pension should be reformed to contributory fund like the private sector one.</p><p></p><p>Vehicle permit are another way of classifying old Cast system, this is 2020 everyone must pay taxes but equally and fairly. No one should be above or below</p><p></p><p></p><p>So these are structural hard reforms but sadly we may not see taking place as we are yet to find SLs Lew Kuan Yew</p></blockquote><p></p>
[QUOTE="saraprobe, post: 25769071, member: 13914"] Not necessarily but it's just what has happened to SL One party can't be blamed SL needs hard reforms to come out of this mess Again currency drop and central bank bond issue is different Bond was set up so he should be jail including UNP heads Currency issue is due to soft peg and money printing to finance gov expenditure. We run on deficit , basically spending more than we earn, due to loans and too many government workers- very obvious So when we print money it goes to the banking system, it's called sterilisation and end up buying back by the central bank and they make profit which is BAD [IMG alt="🤣"]https://cdn.jsdelivr.net/gh/joypixels/emoji-assets@5.0/png/64/1f923.png[/IMG] people think it's good ironic lol So when wholesale money is printed rupee gets devalued so our import cost and loan repayment in dollars goes up - vicious cycle can't get out Again as I mentioned before we should only chew what we can afford but politicians alway spend more due to pure ignorance and to satisfy voters Government workers are the next issue Big fking burden. We have about 1.3 million when we really need about 6-700,000 Pension is another issue, pension should be reformed to contributory fund like the private sector one. Vehicle permit are another way of classifying old Cast system, this is 2020 everyone must pay taxes but equally and fairly. No one should be above or below So these are structural hard reforms but sadly we may not see taking place as we are yet to find SLs Lew Kuan Yew [/QUOTE]
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