129 replies to this topic
Posted 2008-10-31 13:23:46
 Mitker, on 2008-10-31 13:04:23, said:
Seneque, on 2008-10-31 12:31:28, said: thaibkk, on 2008-10-31 12:02:37, said:
i am more concerned why my lovely euro is worth 6-8 baht less in conversion according to a few months ago !!!
There is blanket guarantee for all banks deposits in Thailand, valid 3 years (and not for only! 100000 EUR)
But you don't care .. so why bother ?
Thai politics abound in opportunistic decision reversals. Should the politicians need some extra money for more profitable use (for them) I wouldn't be surprised to learn about an on-the-spot decree that might annihilate any benefit of this "unlimited guarantee" on bank deposits.
Trust come (and go) by experience.
Right, corruption is rooted deep into their society and eventually it will destroy their society.
Let them sort out their own problems, since they are all so "keng", they don't except any criticism even contructive nor will they take advice from foreigners, yet when problems emerge they are the first to run to the IMF or worldbank.
Posted 2008-10-31 13:25:18
Perhaps now the Thai ' authorities ' will finally realise that to have a really vibrant economy they have to attract foreign investment that can control the companies that it buys/invests in. Not just 49% of them. Perhaps they will allow foriegn purchase of land by foreigners for foreigners, that could be controlled by leglislation as to one plot per farang of only to 2 rai, anything more would have to be controlled by a company. Lets us invest in the country we want to live in, Thai's can do it in Europe, why can't we do it here.
Posted 2008-10-31 13:25:57
[quote name='dessy' post='2304636' date='2008-10-31 13:23:05'][quote name='likewise' post='2304584' date='2008-10-31 15:58:25'][quote name='thailandpeter2' post='2304567' date='2008-10-31 12:52:17'][quote name='likewise' post='2304561' date='2008-10-31 12:46:14'][quote name='khaowong1' post='2304515' date='2008-10-31 12:19:22']You must be a lovely human being, thaibkk, not to give a rats for anyone else but yourself.[/quote]
Why should we care? It's not like the Thais care about us now do they?
[/quote]
if you are in Thailand, you WILL care, believe me.... but of course you are free to choose another country for staying and seeing whether things will be better there...
any crisis here, will effect ALL people living in Thailand - regardless of their nationality...
[/quote]
Exactly after 13 years here I am seriously considering of finding greener pastures.
[/quote]
I agree so many Farangs need to return to their own country and put up with what they left for. Too much greed and satisfactionb of their bellies and what hangs below it.
[/quote]
Euh, first of all no belly here, and second of all greener pastures does not particularly mean my own country.
Suffering a bit of monovision there are we ?
Posted 2008-10-31 13:26:53
Mitker, on 2008-10-31 16:04:23, said: Seneque, on 2008-10-31 12:31:28, said: thaibkk, on 2008-10-31 12:02:37, said:
i am more concerned why my lovely euro is worth 6-8 baht less in conversion according to a few months ago !!!
There is blanket guarantee for all banks deposits in Thailand, valid 3 years (and not for only! 100000 EUR)
But you don't care .. so why bother ?
Thai politics abound in opportunistic decision reversals. Should the politicians need some extra money for more profitable use (for them) I wouldn't be surprised to learn about an on-the-spot decree that might annihilate any benefit of this "unlimited guarantee" on bank deposits.
Trust come (and go) by experience.
If you love your lovely Euro, why the hel_l don't you go back and put up with the conditions there, don't critisise Thailand and exploit it/
Posted 2008-10-31 13:29:40
scratt, on 2008-10-31 12:55:46, said: While this is bad news for Thailand it is also bad news for expats, because we all know where the extra money that is required is going to start coming from.. Anyone want to guess the minimum taxation levels for next year?
What also is quite ironic and frankly amusing is that wasn't it last week that the (places tongue in cheek) most excellent and skillful Thai Banking sector was boasting that Thailand would 'not feel the effects of the global economic slowdown', because of their 'extensive experience in this field' based on the last 15 years or so and the Asian crisis of the 90's....
Which is yet another reason why I don't trust, or use Thai banks for anything other than getting money in and out of the country. Idiots!
1.) i don't trust banks in any country more than i have to do...
2.) i am from austria (living here in bangkok since 1992), and i can remember, that, not a long time ago, also the austrians (government and banks), as well as of course the germans have claimed to be only affected marginally of the (then still mostly us-based) crisis...
seems that the europeans were not really better controlled i their business transactions or better than their american counterparts, expecially the banks - and i wonder, what in this respect will come from the asian financial sector in the next weeks and months...
it's gonna be fun! or maybe not..
Posted 2008-10-31 13:30:17
[quote name='likewise' post='2304647' date='2008-10-31 16:25:57'][quote name='dessy' post='2304636' date='2008-10-31 13:23:05'][quote name='likewise' post='2304584' date='2008-10-31 15:58:25'][quote name='thailandpeter2' post='2304567' date='2008-10-31 12:52:17'][quote name='likewise' post='2304561' date='2008-10-31 12:46:14'][quote name='khaowong1' post='2304515' date='2008-10-31 12:19:22']You must be a lovely human being, thaibkk, not to give a rats for anyone else but yourself.[/quote]
Why should we care? It's not like the Thais care about us now do they?
[/quote]
if you are in Thailand, you WILL care, believe me.... but of course you are free to choose another country for staying and seeing whether things will be better there...
any crisis here, will effect ALL people living in Thailand - regardless of their nationality...
[/quote]
Exactly after 13 years here I am seriously considering of finding greener pastures.
[/quote]
I agree so many Farangs need to return to their own country and put up with what they left for. Too much greed and satisfactionb of their bellies and what hangs below it.
[/quote]
Euh, first of all no belly here, and second of all greener pastures does not particularly mean my own country.
Suffering a bit of monovision there are we ?
[/quote]
Grow up and stop looking for greener pastures. That is a sign of insecurity and inmaturity. Perhaps one day you may see the gras under you feet.
Posted 2008-10-31 13:32:09
thailandpeter2, on 2008-10-31 16:29:40, said: scratt, on 2008-10-31 12:55:46, said: While this is bad news for Thailand it is also bad news for expats, because we all know where the extra money that is required is going to start coming from.. Anyone want to guess the minimum taxation levels for next year?
What also is quite ironic and frankly amusing is that wasn't it last week that the (places tongue in cheek) most excellent and skillful Thai Banking sector was boasting that Thailand would 'not feel the effects of the global economic slowdown', because of their 'extensive experience in this field' based on the last 15 years or so and the Asian crisis of the 90's....
Which is yet another reason why I don't trust, or use Thai banks for anything other than getting money in and out of the country. Idiots!
1.) i don't trust banks in any country more than i have to do...
2.) i am from austria (living here in bangkok since 1992), and i can remember, that, not a long time ago, also the austrians (government and banks), as well as of course the germans have claimed to be only affected marginally of the (then still mostly us-based) crisis...
seems that the europeans were not really better controlled i their business transactions or better than their american counterparts, expecially the banks - and i wonder, what in this respect will come from the asian financial sector in the next weeks and months...
it's gonna be fun! or maybe not..
From your remarks it seems you wouldn't trust anyone so why live in Thailand
Posted 2008-10-31 13:32:50
[quote name='dessy' post='2304636' date='2008-10-31 13:23:05'][quote name='likewise' post='2304584' date='2008-10-31 15:58:25'][quote name='thailandpeter2' post='2304567' date='2008-10-31 12:52:17'][quote name='likewise' post='2304561' date='2008-10-31 12:46:14'][quote name='khaowong1' post='2304515' date='2008-10-31 12:19:22']You must be a lovely human being, thaibkk, not to give a rats for anyone else but yourself.[/quote]
Why should we care? It's not like the Thais care about us now do they?
[/quote]
if you are in Thailand, you WILL care, believe me.... but of course you are free to choose another country for staying and seeing whether things will be better there...
any crisis here, will effect ALL people living in Thailand - regardless of their nationality...
[/quote]
Exactly after 13 years here I am seriously considering of finding greener pastures.
[/quote]
I agree so many Farangs need to return to their own country and put up with what they left for. Too much greed and satisfactionb of their bellies and what hangs below it.
[/quote]
...not that most of their own countries will really be much 'greener pastures' for the immediate future...
Posted 2008-10-31 13:35:49
[quote name='dessy' post='2304662' date='2008-10-31 13:30:17'][quote name='likewise' post='2304647' date='2008-10-31 16:25:57'][quote name='dessy' post='2304636' date='2008-10-31 13:23:05'][quote name='likewise' post='2304584' date='2008-10-31 15:58:25'][quote name='thailandpeter2' post='2304567' date='2008-10-31 12:52:17'][quote name='likewise' post='2304561' date='2008-10-31 12:46:14'][quote name='khaowong1' post='2304515' date='2008-10-31 12:19:22']You must be a lovely human being, thaibkk, not to give a rats for anyone else but yourself.[/quote]
Why should we care? It's not like the Thais care about us now do they?
[/quote]
if you are in Thailand, you WILL care, believe me.... but of course you are free to choose another country for staying and seeing whether things will be better there...
any crisis here, will effect ALL people living in Thailand - regardless of their nationality...
[/quote]
Exactly after 13 years here I am seriously considering of finding greener pastures.
[/quote]
I agree so many Farangs need to return to their own country and put up with what they left for. Too much greed and satisfactionb of their bellies and what hangs below it.
[/quote]
Euh, first of all no belly here, and second of all greener pastures does not particularly mean my own country.
Suffering a bit of monovision there are we ?
[/quote]
Grow up and stop looking for greener pastures. That is a sign of insecurity and inmaturity. Perhaps one day you may see the gras under you feet.
[/quote]
maybe some of us are not that attached to the place they live and and try be "Thai".
Maybe you need a reality check.
BTW, inmaturity spelled correctly is immaturity, maybe time to go back to school.
Edited by likewise, 2008-10-31 13:37:17.
Posted 2008-10-31 13:37:05
thailandpeter2, on 2008-10-31 16:29:40, said: scratt, on 2008-10-31 12:55:46, said: While this is bad news for Thailand it is also bad news for expats, because we all know where the extra money that is required is going to start coming from.. Anyone want to guess the minimum taxation levels for next year?
What also is quite ironic and frankly amusing is that wasn't it last week that the (places tongue in cheek) most excellent and skillful Thai Banking sector was boasting that Thailand would 'not feel the effects of the global economic slowdown', because of their 'extensive experience in this field' based on the last 15 years or so and the Asian crisis of the 90's....
Which is yet another reason why I don't trust, or use Thai banks for anything other than getting money in and out of the country. Idiots!
1.) i don't trust banks in any country more than i have to do...
2.) i am from austria (living here in bangkok since 1992), and i can remember, that, not a long time ago, also the austrians (government and banks), as well as of course the germans have claimed to be only affected marginally of the (then still mostly us-based) crisis...
seems that the europeans were not really better controlled i their business transactions or better than their american counterparts, expecially the banks - and i wonder, what in this respect will come from the asian financial sector in the next weeks and months...
it's gonna be fun! or maybe not..
Buy yourself a huge safe I suggest weighing about 20 tonn and slip it under your bed covered by condoms to distract where the safe is. There is no other way to protect your money. Grow up and realize the world has been spending more than they need to. I waqs taught never to get into debt, pity Bush and other Governments didn'y learn this.
Posted 2008-10-31 13:40:07
dessy, on 2008-10-31 13:37:05, said: thailandpeter2, on 2008-10-31 16:29:40, said: scratt, on 2008-10-31 12:55:46, said: While this is bad news for Thailand it is also bad news for expats, because we all know where the extra money that is required is going to start coming from.. Anyone want to guess the minimum taxation levels for next year?
What also is quite ironic and frankly amusing is that wasn't it last week that the (places tongue in cheek) most excellent and skillful Thai Banking sector was boasting that Thailand would 'not feel the effects of the global economic slowdown', because of their 'extensive experience in this field' based on the last 15 years or so and the Asian crisis of the 90's....
Which is yet another reason why I don't trust, or use Thai banks for anything other than getting money in and out of the country. Idiots!
1.) i don't trust banks in any country more than i have to do...
2.) i am from austria (living here in bangkok since 1992), and i can remember, that, not a long time ago, also the austrians (government and banks), as well as of course the germans have claimed to be only affected marginally of the (then still mostly us-based) crisis...
seems that the europeans were not really better controlled i their business transactions or better than their american counterparts, expecially the banks - and i wonder, what in this respect will come from the asian financial sector in the next weeks and months...
it's gonna be fun! or maybe not..
Buy yourself a huge safe I suggest weighing about 20 tonn and slip it under your bed covered by condoms to distract where the safe is. There is no other way to protect your money. Grow up and realize the world has been spending more than they need to. I waqs taught never to get into debt, pity Bush and other Governments didn'y learn this.
but what do you pit INTO that safe ? money ? won't really help you if it's nothing worth any more. maybe better put the condoms in...
Posted 2008-10-31 13:40:08
If a basic principle I have always held is true, and if 1 dollar (currency unit) is deposited in an economy, it generates it's influence 8 fold in the local economy.
conversely, if 1 dollar is sucked out of the economy, it sucks out 8 more supportive elements.
If 4 trillion dollars is the base and initial figure of losses due to the sub primes, a new word to my daily vocabulary as of several weeks ago, and if the world wide salary is about 33,000 usd per industrialized nation worker, and we divide 4,000,000,000,000 by 33,000 we come up with a best case job loss figure for the world, if we divide that number by 160 nations (including very poor nations), we come up with a severe economic collapse.
let me show u: (4 000 000 000 000 / 33 000) / 160 = 757 575.758
This figure (757,576 = total number of jobs to be lost per country).
And, this is the BEST CASE Scenario! Actually, it is going to be much much worse (in real life).
thailandpeter2, on 2008-10-31 12:34:12, said: thaibkk, on 2008-10-31 12:02:37, said: isn't this too much of doomsday thinking ?
my main money is still in europe and there it is protected, not like many thai banks here
protected in the way if the bank goes bancrupt, the governement will pay back the saving deposit up to 100.000 euro per account
as us farangs ... we do not own houses or land because this LOL-evely (sarcasm on lovely) country does not allow us to do so ... so what do we care if economy drops or not ?
i don't, that is for sure ...
i am more concerned why my lovely euro is worth 6-8 baht less in conversion according to a few months ago !!!
well, i do not know, what you are doing in thailand, but i guess there will be a lot of farangs affected from any economy downturn here - the ones, who (like me) who own companies here in thailand or work here...
also, this could also have an effect on work permits - if, due by a bad economy, a company with a farang in it would generate a loss for one or several years, this could make problems for the work permit holders in this company (the thai authorities like to see rising profits/turnover for companies with work permit holders)
... besides, i could also possibly imagine that in a really bad economy the thai government would maybe get the idea to protect thai employees, rather than farangs - maybe making it more difficult for us to obtain/renew work permits and trying to replace farang employees by thais?
as for the guarantee for bank accounts, according to the government here there is a blanket guarantee for savings accounts here too, at least until 2011 - so it's the same as in europe. but as to the question, what any government guarantee for savings would be worth in case it gets REALLY bad - i am rather sceptical there, be it in europe or here in thailand...
so, i don't think it's not too much doomsday scenario. fact is, this time we don't really know how bad things can get - maybe all is over in 1-2 years, maybe we are in for a longer 'ride'...
also, in times of bad economic conditions political radicalism and divisions have been growing in affected countries - and currently political rifts already worse in thailand as it ever has been in most of the 16 years i have been living here...
Posted 2008-10-31 13:44:18
[quote name='likewise' post='2304678' date='2008-10-31 16:35:49'][quote name='dessy' post='2304662' date='2008-10-31 13:30:17'][quote name='likewise' post='2304647' date='2008-10-31 16:25:57'][quote name='dessy' post='2304636' date='2008-10-31 13:23:05'][quote name='likewise' post='2304584' date='2008-10-31 15:58:25'][quote name='thailandpeter2' post='2304567' date='2008-10-31 12:52:17'][quote name='likewise' post='2304561' date='2008-10-31 12:46:14'][quote name='khaowong1' post='2304515' date='2008-10-31 12:19:22']You must be a lovely human being, thaibkk, not to give a rats for anyone else but yourself.[/quote]
Why should we care? It's not like the Thais care about us now do they?
[/quote]
if you are in Thailand, you WILL care, believe me.... but of course you are free to choose another country for staying and seeing whether things will be better there...
any crisis here, will effect ALL people living in Thailand - regardless of their nationality...
[/quote]
Exactly after 13 years here I am seriously considering of finding greener pastures.
[/quote]
I agree so many Farangs need to return to their own country and put up with what they left for. Too much greed and satisfactionb of their bellies and what hangs below it.
[/quote]
Euh, first of all no belly here, and second of all greener pastures does not particularly mean my own country.
Suffering a bit of monovision there are we ?
[/quote]
Grow up and stop looking for greener pastures. That is a sign of insecurity and inmaturity. Perhaps one day you may see the gras under you feet.
[/quote]
maybe some of us are not that attached to the place they live and and try be "Thai".
Maybe you need a reality check.
BTW, inmaturity spelled correctly is immaturity, maybe time to go back to school.
[/quote]
So..........why did you choose Thailand and if you are so specific about spelling, perhaps you could run Thailand and be successful. Take the rod from your own eye before critising others. Perhaps you would be more successful teacching English than being in what you are doing as I found Thai people are very keen on learning to be up with your standards but you may not want that as it may then be a situation of competition.
Posted 2008-10-31 13:44:45
Edited by thaibkk, 2008-10-31 13:49:39.
Posted 2008-10-31 13:48:06
[quote name='dessy' post='2304692' date='2008-10-31 16:44:18'][quote name='likewise' post='2304678' date='2008-10-31 16:35:49'][quote name='dessy' post='2304662' date='2008-10-31 13:30:17'][quote name='likewise' post='2304647' date='2008-10-31 16:25:57'][quote name='dessy' post='2304636' date='2008-10-31 13:23:05'][quote name='likewise' post='2304584' date='2008-10-31 15:58:25'][quote name='thailandpeter2' post='2304567' date='2008-10-31 12:52:17'][quote name='likewise' post='2304561' date='2008-10-31 12:46:14'][quote name='khaowong1' post='2304515' date='2008-10-31 12:19:22']You must be a lovely human being, thaibkk, not to give a rats for anyone else but yourself.[/quote]
Why should we care? It's not like the Thais care about us now do they?
[/quote]
if you are in Thailand, you WILL care, believe me.... but of course you are free to choose another country for staying and seeing whether things will be better there...
any crisis here, will effect ALL people living in Thailand - regardless of their nationality...
[/quote]
Exactly after 13 years here I am seriously considering of finding greener pastures.
[/quote]
I agree so many Farangs need to return to their own country and put up with what they left for. Too much greed and satisfactionb of their bellies and what hangs below it.
[/quote]
Euh, first of all no belly here, and second of all greener pastures does not particularly mean my own country.
Suffering a bit of monovision there are we ?
[/quote]
Grow up and stop looking for greener pastures. That is a sign of insecurity and inmaturity. Perhaps one day you may see the gras under you feet.
[/quote]
maybe some of us are not that attached to the place they live and and try be "Thai".
Maybe you need a reality check.
BTW, inmaturity spelled correctly is immaturity, maybe time to go back to school.
[/quote]
So..........why did you choose Thailand and if you are so specific about spelling, perhaps you could run Thailand and be successful. Take the rod from your own eye before critising others. Perhaps you would be more successful teacching English than being in what you are doing as I found Thai people are very keen on learning to be up with your standards but you may not want that as it may then be a situation of competition.
[/quote]
Pity Thai Visa doesn't have a spell check and as I am using a laptop sometimes I push the wrong keys, we can't all be as educated as you but I'd love to know what and how you earn your living, perhaps in spell checking!!!!!!!!!!!!
Posted 2008-10-31 13:53:21
auserb, on 2008-10-31 13:14:54, said: well my dear friend, i can not understand that Australia is efected by mealting and Thailand as developing country is not
and yes I do care if my AU dolar is worth only 24BHT instead of 30BHT
You might find an answer to this burning mystery here :
http://thaicrisis.wordpress.com/2008/10/30...ied-to-the-usd/
Posted 2008-10-31 13:53:38
[quote name='dessy' post='2304697' date='2008-10-31 13:48:06'][quote name='dessy' post='2304692' date='2008-10-31 16:44:18'][quote name='likewise' post='2304678' date='2008-10-31 16:35:49'][quote name='dessy' post='2304662' date='2008-10-31 13:30:17'][quote name='likewise' post='2304647' date='2008-10-31 16:25:57'][quote name='dessy' post='2304636' date='2008-10-31 13:23:05'][quote name='likewise' post='2304584' date='2008-10-31 15:58:25'][quote name='thailandpeter2' post='2304567' date='2008-10-31 12:52:17'][quote name='likewise' post='2304561' date='2008-10-31 12:46:14'][quote name='khaowong1' post='2304515' date='2008-10-31 12:19:22']You must be a lovely human being, thaibkk, not to give a rats for anyone else but yourself.[/quote]
Why should we care? It's not like the Thais care about us now do they?
[/quote]
if you are in Thailand, you WILL care, believe me.... but of course you are free to choose another country for staying and seeing whether things will be better there...
any crisis here, will effect ALL people living in Thailand - regardless of their nationality...
[/quote]
Exactly after 13 years here I am seriously considering of finding greener pastures.
[/quote]
I agree so many Farangs need to return to their own country and put up with what they left for. Too much greed and satisfactionb of their bellies and what hangs below it.
[/quote]
Euh, first of all no belly here, and second of all greener pastures does not particularly mean my own country.
Suffering a bit of monovision there are we ?
[/quote]
Grow up and stop looking for greener pastures. That is a sign of insecurity and inmaturity. Perhaps one day you may see the gras under you feet.
[/quote]
maybe some of us are not that attached to the place they live and and try be "Thai".
Maybe you need a reality check.
BTW, inmaturity spelled correctly is immaturity, maybe time to go back to school.
[/quote]
So..........why did you choose Thailand and if you are so specific about spelling, perhaps you could run Thailand and be successful. Take the rod from your own eye before critising others. Perhaps you would be more successful teacching English than being in what you are doing as I found Thai people are very keen on learning to be up with your standards but you may not want that as it may then be a situation of competition.
[/quote]
Pity Thai Visa doesn't have a spell check and as I am using a laptop sometimes I push the wrong keys, we can't all be as educated as you but I'd love to know what and how you earn your living, perhaps in spell checking!!!!!!!!!!!!
[/quote]
I could tell you but then I'd have to kill you  .
Posted 2008-10-31 13:53:45
Well, the Thais that have been living and farming in the countryside may very well be OK; at least they'll have something to eat. And, all the talk during the Boom Times about how these humble folk (I live in the Thai countryside) need to be "uplifted into the 21st century" will probably only serve to cause these people to believe their "old ways" aren't so bad after all. The folks that are really going to be hurting will be the working class Thais whose jobs are dependent on mfg exports and tourism, primarily.
As for the many farangs that are here on a shoestring budget with little or no cash set aside (I have met many of them), time for them to start packing and go home. There is no welfare for Thai people, and even less for you.
As for the rest of us, things could get real dodgy in the big urban areas, so be very careful. With lots of folks out of work, we will become bigger targets than we tend to already be. And, the more we can find ways to help out the locals without giving away the farm, the more they will be receptive to all of us staying here. Just my USD $0.02...which is now worth about 35 THB up from the lows of under 30 THB to the buck. But, I don't think that will last much longer. Better lucky than good.
[quote name='dessy' post='2304636' date='2008-10-31 13:23:05'][quote name='likewise' post='2304584' date='2008-10-31 15:58:25'][quote name='thailandpeter2' post='2304567' date='2008-10-31 12:52:17'][quote name='likewise' post='2304561' date='2008-10-31 12:46:14'][quote name='khaowong1' post='2304515' date='2008-10-31 12:19:22']You must be a lovely human being, thaibkk, not to give a rats for anyone else but yourself.[/quote]
Why should we care? It's not like the Thais care about us now do they?
[/quote]
if you are in Thailand, you WILL care, believe me.... but of course you are free to choose another country for staying and seeing whether things will be better there...
any crisis here, will effect ALL people living in Thailand - regardless of their nationality...
[/quote]
Exactly after 13 years here I am seriously considering of finding greener pastures.
[/quote]
I agree so many Farangs need to return to their own country and put up with what they left for. Too much greed and satisfactionb of their bellies and what hangs below it.
[/quote]
Posted 2008-10-31 13:54:22
dessy, on 2008-10-31 13:19:36, said: thaibkk, on 2008-10-31 15:02:37, said:
so what do we care if economy drops or not ?
i don't, that is for sure ...
i am more concerned why my lovely euro is worth 6-8 baht less in conversion according to a few months ago !!!
Perhaps as a foreign person taking advantage of the lovely Thai people you should go back to where your money is safe and put up with the conditions made you leave and take advantage of another country, you belly and what hangs below it,
A bit sarcastic but true in so many cases...
Anyway, I liked the image 
Posted 2008-10-31 13:54:46
A friend of mine in the food industry in UK says they are looking for suppliers in Poland and Ukraine to replace their Thai suppliers due to £ V Baht rate. This is a very big market for Thailand and I am sure EU zone importers are doing the same. This crisis and the strength against European currencies will start to hit hard here next year if no action is taken.
Posted 2008-10-31 14:02:25
Why cares Thaibkk? Some of us unlike yourself care about Thailand. We have Thai wife's, my wife and I have a daughter who after college entered the work force here. I now have one grandson who lives here, so I care. Unlike some who are renting a small room and hang out mostly at bars care about Thailand.
Posted 2008-10-31 14:02:36
It wont last forever. Just tighten your belts for a year or two
Posted 2008-10-31 14:05:51
Job losses were expected nearly 2 months ago when the economic down turn began. The banks seem stable enough, but when 1million * 7000 Bhat deposits drop there will be some repercussions. 
Today in at Lad Krabang Industrial Estates workers at LPS did not get production bonuses and walked out in mass. I was at the market today and saw the traffic suddenly stop and then all the workers came marching down Chalong Krung Road to who-knows-where. 
My neighbor head CQ for Honda says more than 30% lay offs today.
He also said to lock-up everything that is not nailed down or too heavy to walk away with. 
Sad times coming folks, just be prepared. 
One of the solutions that was thrown out for discussion was to devalue the Baht to around 50 ~ 45 that will save some jobs then rebound to a level of 40 to the dollar, it will not take as long as some think. The next rice harvest will push the Baht up, just remember that some second crops were not planted due to fuel cost, Burma lost theirs to mother nature as did Bangladesh and the Philippines.
Thai Rice seems to have lost some 60% in 6 months but Rubber is a big time loser 52 baht a kilo, falling from 98 baht a kilo in only two weeks.
The most active traders in the Baht is Malaysia, Philippines and for some reason Singapore? I understand the first two as they are Thailand's most active competitor in rubber.
Anyway just thinking out loud, you can check up on Rice at: http://beta.irri.org/news/ a good one to watch. 
Posted 2008-10-31 14:14:26
There is an old saying "What is one man's pleasure is another man's poison" My advise to you is look at the good side and be happy with what you have and be thankful you are not living in a country where millions are starving
Posted 2008-10-31 14:20:31
What the article suggests is correct.
It's time for Thailand to get over the political squabbles and unite for the sake of the economy.
A recession will only further destabilize the country and increase the divide.
Thailand is still lucky.
It seems like the banking sector learned its lessons from the crisis in '97 and are in good shape.
Finances on a national level are also quite healthy. The foreign reserve is now greater than $100 billion, among the largest per capita in the world.
Much of Thailand's exports are in commodities like food. Demands for these are unlikely to go down in a global downturn. People still need to eat, and food is not where their spending will be cut.
Oil prices are going down, which will help save the tourism sector from expensive air tickets.
What is needed now is to get some large projects started to make up for the lower export revenues. These investments will stimulate the economy in the short run and enhance growth in the long run.
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