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rotary

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Posts posted by rotary

  1. WOW I sure didn't see this coming. I have a friend that makes 9000 bt a month and he bought a car. His car payment is 10,500 bt per month.

    How the hell can a bank lend money for a car when they know that he does not make enough money to pay for the car.

    What thai do just boggles the mind.

    Agreed thats wild, what is the loan company thinking? In the USA I had a 50 year old friend who bought a house on a 30 year loan, wonder what that US bank was thinking? Banks world wide boggle my mind sometimes being too conservative but sometimes being too wild.

  2. like the UK the middle class is vanishing and will cease to exist,jobs were exported to China never to return.

    poverty will get worse and there will be more Detroit type cities

    I can't speak for the UK, but in the US jobs are, and will continue to return from China. For 50 years the US has been the world leader in innovation and technology.

    I do believe the same will happen in the UK, because the UK can do as the US is doing, but I can't say for sure that they will.

    HERE are the reasons that China won't be needed (or wanted) anymore.

    No offense here but the only thing I see made in the USA are items made with low labour requirements such as plastic ice chest, fly swatters(no joke here), garbage sacks, plastic shelves (PLANO company),maybe some paints, some tapes and glues. This is the only thing I see in the Middle East Made in the USA. This does not count "Designed in California" but Made in China products now.

    Even oilfield tubulars now are seldom made in the USA. All of this comes from China or Brazil or several other places but not the USA. Many standard oilfield products made in the USA have "Made in India" stamped in the forging. Thats not made in the USA in my opinion. The USA economy is headed downhill, I hope I am wrong, but from what I see there is no stopping it now. The position is made worse by the present president and his policy which have done damage that cannot be repaired.

  3. I hope you realize that international schools hardly have any Thai lessons which means your GF's daughter will have to go overseas for university.

    I my view the international schools are more aimed for expats that are send here by their international company that send them to another place (not Thailand) 2-4 years later on and their kids will then attend an international school wherever that might be.

    Some well off Thais send their kids there too and then they typically go to USA-Australia-UK or Singapore for university.

    A good private school is fine, my almost 4 year old son attend Maryvitt school, a very demanding school, over 90% of the students ends up on university.

    Discipline is strict, no students ride motorbikes to/from school, no students bugger off early, they teach them to be polite and respect everybody.

    There are some Thai University's that teach in the English language so there are options. One of them being UTCC. University of the Thai Chamber of Commerce in Bkk. You can google online and there are several sites that rate university's worldwide. Its a bit surprising but quite a few of these Thai University's are in the top 25% of University's of the world's top 10,000. Not exactly Yale or Harvard but I reckon anywhere in the top 25% is not that bad. UTCC cost about $4000 a year. Not cheap but much cheaper than going overseas. Cheaper than many of these so called International schools. I had some dealings with one of these in Khon Kaen years ago and it lacked much to be desired in many ways.

  4. They need to fix the welfare system so it pays less than not working. They also need to cut out the credit cards as people just get in trouble with them, stop banks from loaning money on houses at or near a 100% of the purchase price, and stop giving money to other countries as the US cannot even take care of its self very well with the extremely large debt they have run up. I guess these are opinions but all true in my mind. With just about no manufacturing jobs left in the USA it beats me how they think they can survive long term in the real world.

    Name one US bank that has drafted a mortgage loan at or near 100% of the home's value in the last 4 years to anyone. Credit card issues are down substantially. If you can't show a credit score of 720 or higher (in US), you get rejected. Manufacturing has moved to Asia. It's been happening for 30+ years Not even South America can compete now. But many US manufacturers are doing quite well...., they just took it "offshore".

    Realtor.com says it is still possible, sometimes using 2 loans with one loan being for the down payment. Agreed this has decreased but it has not stopped. It should be a minimum of 25% down. I have also seen a 50 year old man get a 30 year house loan.....how does that work?

    Credit card issues may be down but they should be Zero. Poor people just get in a bind with them and end up paying 30% plus interest. There should be debit cards only or charge cards that have to be paid in full at the end of each month.

    The only US manufacturers doing well as you say are offshore. In many cases, but not all, the offshore firm making the product for the US company are making their own now. The US, and for the most part, most western countries are in bad shape economy wise or getting there soon. All this spend thrift way of life, younger generations not wanting to do real jobs that build an economy, and credit stuff plus welfare paying more than a job are major reasons the USA is headed downhill.

  5. HSBC in Singapore is the easiest to open , you need to keep a minimum 1000 usd in there at all times, but you get an atm card sent to you by post and can use it any ATM anywhere in the world but the cash will be dispensed in the local currency...

    Beware HSBC. Years ago I looked at their fees charged for various services. Higher than normal, at least at that time. Also I worked for a company that used HSBC for certain reasons and they fleeced us a couple of times I thought in their fee's. This might not be correct now but at least compare their fee's with Standard Charted Singapore and other banks.

  6. There are no ATM/Debit cards given for foreign currency accounts in Thailand. And about whether you can open a foreign currency account without a WP or not, I think it's highly unlikely. I heard somebody able to open such an account with Bangkok bank, which in my case some branches won't even a Baht account without a WP, let alone the foreign currency account. Anyways, it's better to go and chat with the banks whether they are willing to do it or not.

    IMHO, the foreign currency accounts are a joke in thailand anways, about the functionality they offer and the restrictions which are imposed on them, and not mentioning the high costs of each and every transactions you made on them.

    I have had a business dollar account and later on, as I am a slow learner, a personal US$ acct in Thailand. Without going into a long message here forget it. It is useless with their policy on deposits/withdrawals, no ATM card, only at main bank,etc. You are wasting your time, or thats at least what I found out.

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