amvet Posted January 7, 2018 Share Posted January 7, 2018 1 hour ago, Thai Ron said: Mate, first you assumed I didn't know that most Thais are Buddhists (in another thread) and now you're making another erroneous assumption that I'm unfamiliar with what happened in this region in 1997. With all due respect, given how out of touch you are on so many other things, you'll forgive me if I don't pay much mind to your attempts to "educate" me Thailand has huge cash reserves. Exports are doing fine. Tourism is up. The baht is stronger than the pound. What's to know? You can't see the obvious for some reason that escapes me. It's as bad as not knowing most Thais are Buddhists. It's the economy. And the economy is fine. Why no riots in the streets about the price of food and petrol? They are not that expensive. Everyone has a job and every one has food and booze and a place to sleep. Link to comment Share on other sites More sharing options...
Brunolem Posted January 8, 2018 Share Posted January 8, 2018 11 hours ago, amvet said: January 15, 2015 when the Swiss National Bank (SNB) suddenly announced that it would no longer hold the Swiss franc at a fixed exchange rate with the euro, there was panic. You can look it up as I get paid too much to lecture novices. Read again your post...it was written in the present tense, as if this had happened last Wednesday! In fact this happened 3 years ago! This was a flashcrash which was promptly delt with, and cannot be branded as representing the state of the economy, Swiss or else. And maybe you should try to tone done your language...the internet provides anonymity for both sides...so it seems you have figured me out for a novice, but I have yet to figure you out for an expert... Link to comment Share on other sites More sharing options...
Brunolem Posted January 8, 2018 Share Posted January 8, 2018 11 hours ago, amvet said: Switzerland's central bank lost $51 billion and the franc is getting hammered. How does a central bank, which can essentially print its own money, get hit with such a loss? Thailand (we are talking about Thailand I think, dropped it's dollar peg in 1997. Again you are using the present tense...the Swiss Franc is NOT getting hammered! There was a flashcrash 3 years ago, but since then things have changed a lot. The SNB has become the largest hedge fund in the world, which by the way is not its role. Because the Swiss Franc is appreciating, or rather trying to, the SNB creates money hands over fists to buy dollars in order to keep the Franc in the chosen range. Meanwhile, not knowing what to do with all these dollars, the SNB buys securities on the NYSE. It has become one of the biggest shareholders of Apple and other FAANG stocks. As long as the markets keep on inflating, the SNB actually makes money...until... Link to comment Share on other sites More sharing options...
Brunolem Posted January 8, 2018 Share Posted January 8, 2018 11 hours ago, amvet said: It's the economy. And the economy is fine. Why no riots in the streets about the price of food and petrol? They are not that expensive. Everyone has a job and every one has food and booze and a place to sleep. The same could have been said about the former USSR... Link to comment Share on other sites More sharing options...
MaeJoMTB Posted January 8, 2018 Share Posted January 8, 2018 12 hours ago, amvet said: Why no riots in the streets about the price of food and petrol? Probably because the army would shoot them. Link to comment Share on other sites More sharing options...
amvet Posted January 8, 2018 Share Posted January 8, 2018 1 hour ago, Brunolem said: The same could have been said about the former USSR... No it could not. The joke at the time was, "There was this long line for vodka, and one poor guy couldn't stand it any longer: 'I'm going to the Kremlin, to kill Gorbachev,' he said. An hour later, he came back. The line was still there, and “Well,” the crowd asks. “did you do it?” “No,” the man sighs, “there was an even longer line over there.” I guess you are not very old. Link to comment Share on other sites More sharing options...
amvet Posted January 8, 2018 Share Posted January 8, 2018 (edited) 1 hour ago, MaeJoMTB said: Probably because the army would shoot them. No. Petrol prices were much higher in 2013. Consumer confidence highest it has been all year. https://tradingeconomics.com/thailand/consumer-confidence Disposable personal income way up. https://tradingeconomics.com/thailand/disposable-personal-income Edited January 8, 2018 by amvet Link to comment Share on other sites More sharing options...
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