13 Apr 2025
@Babe:Flaws with WP alternative policies in Parliament :
1. Propose land sales to finance recurrent fiscal budget - soon no more lands for younger generations as Singapore is a little red dot.
@Babe:2. Use more nirc 60% - no GST hikes.
Equivalent to raiding our reserves & leaving less reserves for our younger generations.
@Babe:3. No GST hike - Government fiscal budget deficit results in debts. Unable to accumulate surplus to do tax transfer to 90% of the population.
4 members family get > $10,000 tax transfer for 2 years.
@Babe:CDC, GST vouchers, utility rebate, senior bonus etc - 4 member family receive > $10,000 rebate.
More than GST, inflation rise. 2% $48,000 - GST hike= $960.
@Babe:How many people spend $4,000 a month or $48,000 a year? 2% GST hike is only $960.
A 4 member family receive $10,000 or more.
$10,000 not enough to cover $960?
@Babe:Did you do a calculation before you fool the voters?
You think all voters are stupid?
@Babe:Are you saying a household spend $4,000 a month now spend $8,000 a month because of 2% GST hike?
Singapore voter's stupid?
@Babe:Who actually pay for the GST hike?
It is the top 10% rich people paying for the GST.
90% of the population actually gain from the GST tax transfer - and incur no loss from GST hike & inflation.
@Babe:So oppies didn't do a detail computation but attempt to fool gullible voters.
@Babe:4. Advocate Minimum wages without productivity growth. Singapore labour force lose competitiveness to other countries.
PAP advocate PWM - step increase in wages with productivity growth.
@Babe:5. Advocate Retrenchment insurance.
Retrenched workers no incentive to rejoin workforce.
PAP provide job support fund + training + job placement.
@Babe:6. Advocate Nationalisation of public transport.
This will drain taxpayers money, inefficiency, no market discipline, cannot bid overseas project to earn revenue.
心法:
After Note (about Nationalisation, what is the impact):-
Assume what WP and the oppositions say, let us revert back to Nationalisation – by converting all GLCs (that provide public goods and services) to State-Run Enterprises, what will be the implications :-
Funding – how and where to get the money to buy out all the public shares in the Singapore Stock Exchange eg. Singtel, PSA Corp, NCS, ST Engineering, Keppel Corp, Smrt , Comfort Delgro, DBS, Sembcorp, SIA, SIA Engineering, Scoots etc ?
a. Liquidate half of Temasek Holdings GLCs' assets to pay shareholders holding all these GLCs shares and delist from the Singapore Stock Exchange (about $200 billion). What will be the implications:-
SES (Singapore Stock Exchange) portfolio diminished drastically – and can no longer function as a stock exchange as the market capitalisation heavily front by GLCs. SES paralysed and could become dysfunctional as the remaining shares are SMEs or smaller values in capitalisation.
Temasek Holdings' asset values as Soverieign Fund cut by half – and the NIRC and the profit earned will be greatly reduced. Hence the half of NIRC contributing to the fiscal budget will be greatly reduced – means more taxes in the form of GST, personal income tax, corporate tax etc will be needed. We as a taxpayer will have to pay more taxes – don't know how many percentage more taxes that we need to pay to make up for the lost government revenue earned from the NIRC.
b. If financing the Nationalisation of all the GLCs are not to be funded by the liquidation of Temasek Holdings, then Government will have to make use of taxpayers money to “Nationalise” the GLCs – assume Government need to collect additional $200 billion more taxes to do that. Now with GST, personal income tax, corporate tax, NIRC, other taxes – we collect about $100 billion to finance our yearly government spendings. To finance another $200 billion to “nationalise” the GLCs, taxpayers got to pay 200% more in terms of GST, personal income tax, corporate tax, NIRC, other taxes etc for the government to collect $200 billion more --- are taxpayers willing to pay 200% more taxes? Not to mention getting CDC vouchers, GST vouchers etc ---- taxpayers will have to pay much more taxes to “Nationalise the public goods and services” with no more CDC or GST vouchers.
c. The impact to our structure of our Economy and GDP is huge – we immediately drop from a very rich country to become a 3rd world country – from 2025 back to 1990s or 1970s – this is the impact of mismanaging our Economy if WP and the oppositions play their cards to push for Nationalisation of our public goods and services.
d. In addition, all our GLCs without subjecting to market forces and market competition will fall into inefficiency – because it cannot benchmark to market competitive pricing – as these State-Run Enterprises (SOEs) will keep putting out their hands to the Government for funds year after year. How do the various Ministers determine if the funds requested by the SOEs are reasonable if there are no market competition and benchmark? Where do the Ministers get the fund from short of taxing taxpayers to pay them?
e. GLCs if nationalise cannot tender and compete for business in overseas market – whereby currently, most if not all our GLCs gain very huge revenue and profits from overseas business because Singapore domestic market is very small unlike overseas world market - then we are losing billions and billions of $ in foreign earnings.
Only North Korea are using SOEs to run public goods. Many current and previous communist countries such as China, Russia, Vietnam, East European countries have long discarded Nationalisation and convert to Privatisation or GLCs (Government Linked Companies) operate in a market economy precisely the negative impact of a SOEs.
Now our oppositions, WP want to revert back to Nationalisation of our public goods and services started with SMRT?
Are we dooming ourselves to place our trust with the oppositions and WP?
I am surprise that WP has an Economist that work with international economic bodies – but fail to understand this very basic fundamental principles of macroeconomics – free market economy.
@Babe:7. WP Manap - want politics, governance to mix with religion citing Islam operate this way.
Pritam cut him off.
He want Buddhism, Christianity, Hinduism to mix with governance?
@Babe:8. Suggest 70 year lease. Then top up for 29 years.
a. When you retire, got money to top up?
b. If 70 year lease expires, you still survive no where to live?
@Babe:9. If want to sell the flat with lower lease, cannot fetch good price.
a. 99 year lease, people already say barely enough,WP say HDB flat should start with 70 years lease?
@Babe:10. There are so many layers of government in formulating government policies before it finally settled in Parliament.
2. Not a blank check or own self check own self.
@Babe:11. Layers of check & balance in policy formulation:-
1. Civil service - department
2. COPS - Council Of Permanent Secretaries
3. Parliamentary Secretaries in various Ministries
@Babe:4. Public Consultation with Private Professional Bodies
5. Cabinet Ministers
Before presented to Parliament debates.
Oppositions rarely value add to amend in Parliament because it is robustly debated.
@Babe:12. 2 party system results in a deadlock government.
Just look at US, UK, S Korea and many others - changing government like changing clothes.
@Babe:13. What solutions is WP proposing to secure Singaporeans jobs threaten by AI, trade tariffs, tech disruption?
What is WP alternative governing policies for Singapore?
@Babe:Can WP govern Singapore?
Looking at the flaw alternative policies propose by WP - Singapore will lose its competitiveness quickly and our reserves will dry out very quickly.
@Babe:Why government spend on memorial hall, because government need to refresh tourism spots to attract tourists spendings.
@Babe:Target $50 billions are earn from tourism.
Memorial heritage worldwide is one tourists attraction big spenders.
@Babe:When external trade take a hit, tourism is to cushion the impact to stimulate domestic economic.
@Babe:$150 million spend on memorial heritage can spin off multiplier effect many times the amount through circular flow of income in construction and subsequent recurrent revenue.
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@Politics Factual Martin:How are their policies flawed when they are not targeting to be gov?
@Babe:So you admit WP MPs are sub-standard?
If there are PAP MPs why need PAP - lite?
Taking up space for Ministers to solve National problems?
@Babe:We need best brains to resolve difficult and complex national problems.
If candidates are not of the right caliber, drop out of the race.
Don't take out spaces meant for the best brains.
@Babe:Don't sabo Singapore!
@Babe:So democracy is not based on meritocracy and competency.
Even though oppositions quality are lower than PAP, voters will still elect them into Parliament even though their ideas are substandard.
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@Babe:Do you know why Trump is facing a massive Treasury bonds sell out?
It is precisely adversaries know US debt is $36 trillion.
A coordinated sellout crash US Bond and hike Trump cost of borrowing.
@Babe:Jamus Lim suggest the government reveal the size of our reserves and let speculators crash our financial market?
@Babe:The President and his Council have a full account of all Singapore reserves.
Why the need to fully publish it and let bad actors attack Singapore & cripple our finance system?
@Babe:Adversaries in the US Bond market know exactly what tranche are maturing, where to refinance their bonds etc and do coordinated attacks to short US Bond market.
@Babe:This has upset Trump economic plan who rely on Treasury Bond to finance their fiscal budget - precisely all their details are known to adversaries.
@Babe:Does Jamus want Singapore to undergo similar financial attack like the last Asian financial crisis when ASEAN come under attack - and trigger devaluation of ASEAN currency that lead to a recession?
@Babe:The global challenges are now more potent as geopolitical tensions deepen.
All the more we should keep our reserves safe and get ready if our financial system come under attack.
@Babe:Don't put your stake and children stake in the oppositions.
Put your bet on PAP who have help us to ride many crisis.
Tariff crisis is heavyweight - as supply chain has been broken.
Middle age pmet looking for WP MP Jamus Lim to help look for jobs.
https://vt.tiktok.com/ZSB1Vn4bQ/
WP MP Louis Chia ask voters for solutions how to solve fresh graduates inability jobs in Sengkang.
https://vt.tiktok.com/ZSkvkR8nL/
@Babe:I thought WP MPs should help their wards to find jobs.
This is what you all are elected for.
Why ask residents what to do?
@Babe:If you can't find jobs for your voters, then what are you voted for?
Now this is the moment of truth.
Voters got to live with the consequences of their votes.
@Babe:Difference between PAP MPs and WP MPs.
1. PAP MPs find jobs for voters.
Ng Chee Meng organise SIA, Scoots and many organisations to match jobs for retrenched Jetstar staff
2. WP MPs ask their residents for ideas how to look for jobs for their voters.
@Babe:Notice WP MPs are quite hopeless.
When Sengkang residents approach them to help them find jobs, they throw the problem back to the residents - to ask for solutions.
Then vote WP MPs for what?
Time for Sengkang voters to regret.
@Babe:PAP Ng Chee Meng find 4,000 job vacancies for 300 retrenched Jetstar Singapore workers.
WP MPs are just hopeless lah.
@Babe:Who determines social needs for COE?
Jamus Lim ah?
https://vt.tiktok.com/ZSB7U3pcx/
@Babe:Based on Jamus Lim social needs, then all citizens should get Coe.
Then how is Jamus Lim addressing the limited road space and prevent congestion on the road?
@Babe:Jamus Lim is trying to define social needs for some groups of people but neglected the needs for other groups - playing the role of a "social judge".
Who has given him the right to do so?
@Babe:@Babe:Jamus Lim should bring this up in the Parliament and raise in REACH topic.
Let see how people demolish his ideas and expose him as a bogus economist.
@Babe:Apparently Jamus Lim very weak in the economic principles of scarce resources, demand, supply, opportunity cost vis a vis definition of social needs.
As well as knowledge of alternatives such as MRT, bus, taxi, private hire, av - a mass mover versus a selfish self-centred private car in lieu of limited road space.
@Babe:rich one stay in GCB, bungalow.
less rich stay in condo.
the less well off stay in HDB.
rich own car.
less rich hire cab or grab.
less well off take MRT, bus, av.
@Babe:So are you insisting everyone should stay in GCB with limited land spaces just like everyone should possess a car in limited land road?
@moomoonmoomoo:As I mention, you can do it via ballot, limit allocation to PR and foreigner, limit one per household, penalty that would cause a pinch for those whom want a 2nd car, higher cost implemention for PHV and car sharing, etc etc. so so many can be done, if they can shoot a satellite up for ERP, I am sure they can come up with something except excuses.
@Babe:tell Jamus Lim to bring it up in Parliament and see whether it make sense or not.
ballot some more....
think carefully about the implications and how it impact the economy.
@Babe:all your suggestions have been deeply studied and are not practical.
@Babe:seriously tell Jamus Lim to bring up all your points here in Parliament and see how your points are not workable supported by figures.
this have been discussed for many decades already since Coe have been introduced.
no point discussing here.
@Babe:Just cannot understand some people:-
1. call cab cannot?
2. call grab cannot?
3. take MRT cannot?
4. take bus cannot?
5. rent car cannot?
die die must buy a car? no car can die?
if die die want car, then work hard, earn more money, bid for coe and buy lor.
so many people can travel everywhere with public transport without a car - but yet some people prefer the vanity to own a car.
cannot afford Kao beh Kao bu.
@Babe:Limited land space that are shared by the population is an expensive economic goods.
People who want to own cars for its private use must pay a high price for this privilege luxurious commodity for its own used at the expense of the rest of the population.
I am surprise Jamus Lim as an economist don't understand this Economic principles and try to fool his supporters appealing to compassion - but work against the benefits and interest of the population at large for a few selfish individuals not willing to pay the price to enjoy the privileges.
https://vt.tiktok.com/ZSSRptpU2/
@Babe:WP Jamus Lim is devoid of reality - claiming high corporate tax don't chase away corporates and investors.
Many countries with high taxes are in fact chasing away foreign investors and corporates.
@Babe:Stark warning about the health of the UK economy, as he said that raising taxes to cover mounting borrowing costs will only lead to more people leaving.
https://www.telegraph.co.uk/business/2025/07/28/britain-stuck-in-doom-loop-warns-hedge-fund-chief/#:~:text=Hedge%20fund%20boss,says%20Ray%20Dalio
@Babe:"Tech startups are dusting off U.S. hiring plans after Congress revived a popular tax deduction—and the same change could drive domestic hiring more broadly as well, executives and tax professionals say."
https://www.wsj.com/tech/tech-startups-hiring-us-workers-30f70207#:~:text=Tech%20startups%20are%20dusting%20off%20U.S.%20hiring%20plans%20after%20Congress%20revived%20a%20popular%20tax%20deduction%E2%80%94and%20the%20same%20change%20could%20drive%20domestic%20hiring%20more%20broadly%20as%20well%2C%20executives%20and%20tax%20professionals%20say.
@Babe:So very obvious Jamus writing off corporate tax will not chase away investors - is a big bullshit.
心法:
1. How George Soro speculative attack destroy UK, Mexico, some ASEAN countries financial system and economies.
2. Assume US $1 = UK $1 pound for easy illustration and understanding.
3. Through future trading, assume Soro come into UK market to buy or borrow UK 50 billion pounds. (Note:- Soro taking significant position can influence market trends).
4. UK pound exchange rate value increase and US $ fall as UK in short supply in UK financial market.
5. Soro buy US $ of $60 billion using UK $50 billion pounds as UK pounds is stronger than US $.
6. US $ in UK market in short supply. But US $ as global reserve is needed to make payment for trade.
7. Hence UK business and banks will chase up US $ by buying at higher prices using UK pounds. Leading US $ to strengthen against UK pound.
8. Because Soro significant position suck up significant US $ in the UK financial market leading to short supply, UK Central Bank (Bank of England) will have to release US $ in its reserve to stabilise the exchange rate between UK pound and US$.
9. But as Soro significant position knowing how much Bank of England US reserve is could draw down the CB US reserves beyond what it have to stabilise the exchange rate.
10. Assume CB only have US $30 billion, UK are still short of US $30 billion to support the payment of trade needed by UK business and banks.
11. So in order for UK economy to service the trade payment, CB have to devalue the UK pound to buy US$ assume UK $2 to US$1.
12. Soro is waiting for this opportunity to earn a big buck and raid UK Bank of England reserves.
13. Soro only needs to use US$25 billion to pay back UK $50 billion pounds as the exchange rate now is 1 : 2.
14. Soro earn US $60 billion - US $25 billion = US $35 billion with virtually 0 or minimal capital.
15. Whereas UK wealth plummet by 1/2 as it devalue its UK pound from 1:1 to 2:1 against the US$.
16. How does HK through the backing of China reserves stop Soro speculative attack against one country after another for his personal gain - and lead to the bankruptcy of Soro Long Term Capital Management Fund?
17. Soro launch a similar ploy on HK financial markets again through future trading.
18. But HK through the backing of China are ready for it.
20. Soro target HK equity and currency exchange through future trading leading turbulence selling of HK shares and currency.
21. But China financial reserves are very strong and much more than Soro depth in many folds, whereby Soro is unable to know how deep China and HK reserves are.
22. As Soro sell HK shares and currency extensively, China and HK keep buying to maintain and preserve its exchange rate stability with US $ as well as sustainable share prices.
23. As Soro is unable to exploit its significant position, because this significant position is in the hands of China and HK, Soro is not able to profit from the differences in exchange rate through the future contract as his predicted market trend cannot be materialised.
24. As a result, when the future contract mature, Soro funds got to top up the significant differences in the shares and the currency exchange to fulfil the future contract.
25. Eg. Soro predict HK currency to be low 2:1, but ended up 1:1 due to active prop up by HK and China CB, Soro got to dig into his fund to pay the differences.
26. So if he borrow HK$50 billion using US$50 billion, he now have to use US$100 billion to repay HK$50 billion when the future contract mature.
27. Hence Soro fund bankrupt.
1. To conclude, I take very strong stand against WP in Parliament and some opposition parties position to force our Government to be transparent and reveal GIC financial statement.
2. We need to keep our financial positions secret and not to reveal to the outside world because there will be crocodile out there in the world that can launch speculative attacks on Singapore finances, lead our nation wealth to plummet, including yours and mine (denominated in S$) or even bankrupt our reserves.
3. Because our sovereign reserves is to protect Singapore wealth, you and my wealth - not to subject to speculative attack by any hostile foreign actors.
4. Hence WP position and some opposition parties position in revealing our reserves and GIC assets - are in fact harming Singapore, as well as your wealth and my wealth.
5. WP and the opposition parties are assisting hostile state actors to attack us by pressing our government to reveal our financial reserves leaving us vulnerable to financial attack.
6. We must not be gullible and fool by that oppositions that will harm all of us.
7. Imagine your wealth and my wealth suddenly cut by 1/2 in values after hostile actors successfully launch a financial attack on US aided by our oppositions and hostile actors earn 1/2 of our wealth thanks to our oppositions?
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Opposition parties, such as The Workers' Party (WP), have called for greater transparency from GIC, particularly regarding its total assets, performance figures, and the specific valuation of its unlisted assets, arguing that Singapore's sovereign wealth funds are falling short of transparency standards compared to other nations and that the lack of detail raises questions. While GIC discloses its policy portfolio and some performance data, the WP and others have specifically requested more detailed public disclosure of its total assets, arguing it does not share annual performance figures and that hiding performance figures is not sensible, according to The Workers’ Party.
Sovereign wealth funds’ transparency—by Chua Kheng Wee Louis
https://share.google/QOD16Q4Ipwwt2WY0S
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[16/10, 7:50 am] Close friend: https://www.channelnewsasia.com/cna-insider/seoul-south-korea-losing-rich-millionaires-wealth-drain-singapore-5403716?cid=internal_sharetool_androidphone_16102025_cna
[16/10, 7:51 am] Close friend: Lesson for Singapore?
[16/10, 10:58 am] ☸️ Danny 心: The country’s top income tax rate stands at 45 per cent, while inheritances above 3 billion won are taxed at 50 per cent.
“That’s one reason why wealthy individuals are looking abroad,” says Lee Yoonsoo, a professor of economics at Sogang University. “When they get older, they want to pass their assets to their children.”
Their choice of destinations reflects their priorities. “Dubai is probably for asset protection,” he cites, highlighting its safe banking system and zero income tax.
Other popular destinations include Australia, New Zealand and Singapore. “Compared to Seoul, they provide better quality of life in some cases,” he adds. “The most important things are the stable tax environment and global networks.”
Indeed, following an investor backlash against plans to hike corporate tax and expand capital gains taxation, the Lee administration has rolled back on the latter proposal. Last month, the president also ordered that additional inheritance tax relief should be given.
Yet, the complexity of South Korea’s inheritance tax rules is partly why it “lags far behind its peers in attracting wealthy individuals”, says Lee Yoonsoo. “And the … visa system isn’t suitable for rich people to reside in the longer term.”
In the region, Malaysia, Thailand and Japan have introduced golden visa and long-term residency schemes, he highlights. “And Singapore leads the race with low taxes.”
“If I go back, … (with) all the wealth I’ve accumulated in Singapore, I’d have to pay half in Korea when I pass my wealth to my daughters,” he says. “I just regularly visit Korea. … I don’t think I’ll go back.”
[16/10, 11:00 am] ☸️ Danny 心: Inheritance tax and capital tax are the main drivers that chase away millionaires from the country.
WP Jamus Lim say taxes on the rich is not the main motivator that chase away rich individuals and business when he debate the GST tax.
He is always wrong economically.
[16/10, 11:06 am] ☸️ Danny 心: If millionaires migrated, they will stop creating business and jobs. And many Singaporeans will lose their jobs. Economic growth will be dampened.
In addition when that happens, the tax burden fully falls on the middle income and the lower income groups.
This means an even higher GST tax will need to be levied for the loss of tax income - and no GST vouchers will be issue to these 2 groups as the GST tax collection can barely cover other government expenditures with lesser leftover for GST vouchers and CDC vouchers.
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[13/11, 11:15 am] ☸️ Danny 心: "Singapore ranked third top destination for world’s wealthy: Savills".
After Dubai, New York.
HK and Abu Dhabi 4th and 5th.
https://www.edgeprop.sg/property-news/singapore-ranked-third-top-destination-world%E2%80%99s-wealthy-savills#:~:text=Advertisement-,Singapore%20ranked%20third%20top%20destination%20for%20world%E2%80%99s%20wealthy%3A%20Savills,-By%20Atiqah%20Mokhtar
[13/11, 11:18 am] ☸️ Danny 心: Singapore also ranked among the top locations for legacy, given its absence of inheritance, capital gains and wealth taxes.
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心法, [8/11/2025 8:39 pm]
@Babe:You are breeding a politician like Trump in Singapore.
心法, [8/11/2025 8:40 pm]
@Babe:Scandalising the Court Publishing any matter or doing any act that imputes improper motives or impugns the integrity, propriety, or impartiality of any court, and poses a risk of undermining public confidence in the administration of justice. Making baseless allegations of bias or corruption against a judge or the court in a book, blog post, or on social media.
Interfering with Administration of Justice Intentionally interfering with or hindering a person's access to court or ability to appear, or insulting a judge.
@Babe:Pritam Singh comments infringe this particular clause in contempt of court.
心法, [8/11/2025 8:41 pm]
@Babe:If worker party is a serious party, they should call Pritam Singh to step down as the leader of opposition with this conviction.
心法, [8/11/2025 8:41 pm]
@Babe:The public opinion is that Pritam Singh not only lies once in Parliament, but more than once.
心法, [8/11/2025 8:43 pm]
@Babe:Pritam Singh say, even if he lies, as long as he is voted in, he is above conscience. He can act with impunity.
Singaporeans should reject such politicians.
Just look at what happens in the US.
心法, [8/11/2025 8:43 pm]
@Babe:Low Thia Khiang is a more honest and better opposition.
Pritam Singh is unworthy of the leader of opposition.
心法, [8/11/2025 8:44 pm]
@Babe:What Pritam Singh say in the public is a contempt of court.
心法, [8/11/2025 8:49 pm]
@Babe:That's why Trump can break all constitution and law - because he claim he is voted as president and president can break laws as he win the election.
Pritam Singh claim similar impunity.
@Babe:1. If he lies, he lies.
2. If Court establish he lies and convict him, he lies.
3. It is immaterial if he get elected. As being an elected MP, does not erase the fact that he lies in the Parliament.
4. Call a spade a spade.
5. Public opinion doesn't accord him the status that public opinion is bigger than any world court.
@Babe:See what happens to Trump.
He is convicted for felonies.
But he say public opinion is bigger than any court in the world.
And he run amok breaking all laws and constitution bringing a big mess to the country.
Does Singapore want such politician like Pritam Singh to run amok in Singapore?
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@Garrick Wong:You totally ignore the context.
He was convicted because every key person in his own team contradicted his version of events. The court didn’t rely on speculation, it relied on testimony from within his party.
So when someone in that position starts talking about the “court of public opinion” during the appeal, it’s not a neutral observation anymore. It’s positioning popularity as a fallback if the legal outcome doesn’t go his way. That is effectively saying: if the facts don’t save me, maybe public sentiment will.
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