3
phiphidon, on Today, 11:14 , said:
waza, on Yesterday, 20:59 , said:
Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon
"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?
No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.
In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".
"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?
No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.
In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".
As for budget surpluses and populist spending see here
Quote
http://www.adb.org/p...ce/publications
and download the "Thailand" Asian Development Outlook pdf:
"The overall balance of payments recorded a much reduced surplus, estimated at $330 million up to midyear."
whilst providing:
"An economic stimulus package was introduced in July. Its main ingredients were: a 5% salary rise for civil servants; a higher minimum daily wage; an increase in pensions; an additional allocation of B20 billion for a village fund; and tax breaks for firms offering more benefits for low-income workers. Many of these measures had already been planned and were brought forward. The stimulus package is likely to push up wage costs and add to the cost impact of the ending of diesel subsidies in July. Overall, both public consumption and investment are expected to contribute to growth in 2005"
Summary
Macroeconomic indicators are worse than were projected in ADO 2005, with high energy prices a major culprit: GDP growth of 4.0% or slightly higher is now forecast for 2005, revised down sharply from the earlier forecast of 5.6%; inflation has accelerated faster than envisaged; and the trade and current account balances have deteriorated much more than anticipated, and will likely record deficits for the year........... Accelerated public spending, particularly on a “megaprojects” infrastructure program over the next few years, will help momentum pick up, though there is a risk that the program could strain fiscal and external balances.
