BuddyPish
-
Posts
112 -
Joined
-
Last visited
Content Type
Profiles
Forums
Downloads
Posts posted by BuddyPish
-
-
5 minutes ago, Thaidream said:
These rates are simply absurd for the pound; Euro' Aussie and Dollar.
There is no way the Thai economic situation would justify such exchange rates and unless the Central Bank acts immediatly- I am quite suspicious that there is a hidden agenda stopping them from doing whate is logical. Why would any country stand by and see it's export industry devasted?
The central bank needs to lower interest rates immediatly; intervene in the currency market; place capital controls on 'hot' money. If they do nothing- the number of tourists will decline; expats will leave and the Thai export market will be devasted and Gdp decline.
The projections on the US Dollar and Pound to the Baht for 2020-2021 are horrid- Some analysts are predicting much deeper declines. If this occurs- we'll be brewing our own beer and whiskey and start bartering.
It may seem "logical" to you because you've grown accustomed to Western central banks cutting rates and weakening currencies at times like this.
Well, ask yourself, where did those policies get Britain?
It's precisely because of what the Bank of England did - hundreds of billions in QE and near zero interest rates - that the pound dropped from 72 to 54 .
Outside of the banks, who actually benefited?
Did Britain become an "exporting powerhouse" selling loads of stuff all over the world as a result?
No, the Thai central bank doesn't need to do a damn thing.
It doesn't set monetary policy to help low income foreigners or lure cheap charlie tourists - it sets monetary policy to benefit Thailand.
They're more concerned about household indebtedness than they are about a few million less tourists.
They can recover tourists easily - they can't build a new banking system easily.
Slow and steady, Bank of Thailand, slow and steady- 1
-
Whinge, whinge, whinge
Just leave instead of adding to the echo.
4 minutes ago, sammieuk1 said:The OP nailed it I must be looking in his mirror but the UK has cut off my escape route to be a family unit so now its limbo time and how low one can go without snapping????
How has "the UK cut off your escape route"?
- 1
- 2
- 8
- 1
-
On 7/25/2019 at 10:50 PM, Ron jeremy said:
Thailand simply isn't a cheap destination anymore, better value elsewhere,
please keep in mind cheaper and better value are 2 totally different things.
its just gotten to be one big scamming shithole.
lowlifes flock there for a reason, pattaya is full of them.
The Thais had it too good for too long, thought it would never end, scam the tourists, rape the tourists, take every dollar they have, treat them like shit.
guess what's happenning now?
people have gone elsewhere and found places where the locals actuallyWANT you there, treat you well, and welcome you.
its also historically the most unstable country in the region, military junta, protests, airport closures, corrupt police etc etc etc.
And with the drop in currency, the perfect storm is now complete.
Actually, it's farangs who've had it too good for too long.
It's our currencies that have been overvalued for decades and now markets have realised that countries that are not printing billions are a far better bet.
People may have gone to other places but they'll be back here - it would be silly to think otherwise. It hasn't lost its attractions overnight.
Either way, I don't think Thailand is too bothered about losing cheap charlies who go into a meltdown over a few ticks on the exchange rate.Things aren't that much more expensive.
A service at a famous bkk establishment in soi 8 used to cost 700 baht 10 years ago - that was about £10 at 70 baht to the pound
Today, that same service is 800 baht but with the pound below 38 baht to the pound, that's £21.
So the price has only risen by 100 baht over the last 10 years but the perceived cost to a Brit has more than doubled.
Don't blame Thailand for managing its currency well, blame the idiots at home managing yours abysmally.
- 1
-
3 hours ago, mikebell said:
Add in the fall in the numbers of big-spending farangs being replaced by zero-spending Chinese/Indians and an earthquake is rumbling.
Excuse me?
You mean the big spending farangs who are complaining about a few baht on the exchange rate?
Don't make me laugh- 2
- 1
Expats feeling the pinch as GBP sinks to an all time low against the THB
in Thailand News
Posted
1.75% is "high interest rates"???
The hot money isn't coming for the interest rates, its coming for the appreciation against other currencies.