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Caldera

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Posts posted by Caldera

  1. Financially it's almost a no-brainer if you want to spend a lot of time in Thailand and don't qualify otherwise (for any other long-term visa/extension).

     

    But immigration and the question whether you can trust them aside, I have my doubts if Thailand will still have much of its appeal left in another five years. Looking how things have developed in the past five years, that is.

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  2. This article seems to be spot on, from my experience. Quite many Thais I know got credit cards as soon as they had enough pay slips to apply, maxed them out within a few months (mostly spent on household items, motorcycles, electronics/gadgets) and have been servicing that debt (more or less diligently) ever since.

     

    Due to the high interest rate, they have no realistic chance to reduce their debt anytime soon. Some reckon they might eventually earn enough to pay it off, others are resigned to taking their chances with the lottery.

     

    I assume that the proverbial will really hit the fan once there's a significant economic downturn that will cause Thailand's fairytale unemployment rate to rise. In that event, I'd expect bad debt to explode. Thais aren't really familiar with the prospect of unemployment and will be totally unprepared for that to hit them. At some point, I'm sure that will become a huge issue.

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