Thailand number one!

[Brunolem]

There is actually a meaningful ranking showing Thailand at the top position: countries with the best economic prospects for 2018.

 

If true, this could translate in the coming months into "baht up" and "inflation up"...let's wait and see...

 

https://www.zerohedge.com/news/2018-02-19/these-are-worlds-most-and-least-miserable-countries

[Berkshire]

While I love Thailand and applaud this "achievement," I've often wondered about how the government calculates unemployment.  Low unemployment and inflation are certainly important measures of economic success.  But if it's done with smoke and mirrors, then maybe not so much. 

[Brunolem]

42 minutes ago, Berkshire said:

While I love Thailand and applaud this "achievement," I've often wondered about how the government calculates unemployment.  Low unemployment and inflation are certainly important measures of economic success.  But if it's done with smoke and mirrors, then maybe not so much. 

Well, to be unemployed, one first needs to have been employed!

This is particularly convenient in a country where a huge chunk of the population is self-employed in one way or another (farmers, street vendors, fishermen, you name it...).

All these millions of people, no matter what their activity or income, are never officially unemployed, because they don't fit the employment criteria.

Hence the "miraculous" 2% rate printed year after year.

As a matter of fact, in a developed economy, a 2% rate would be impossible, because it would translate into more than full employement, since there is always a significant number of workers between jobs.

It is generally estimated that a rate around 4% represents full employment...

[simoh1490]

 

[Phuket Man]

Thailand is number one when it comes to road deaths.

A great achievement.

[whiteman]

maybe the thai share market might move up and stay up now

[Brunolem]

15 hours ago, simoh1490 said:

 

Coming soon: the negative unemployment rate!

[simoh1490]

2 hours ago, Brunolem said:

Coming soon: the negative unemployment rate!

I suspect you almost certainly didn't click on the link so I'll post the relevant section here:

 

"Thailand uses sampling to calculate the unemployment rate, the same system that western governments use to calculate population growth outside of census, gauge political opinion, understand demographics etc. One notable part of the Thai system is that about 5% of the employed population is understood to be underemployed and this occurs when a person ends their work, returns home and does small amounts of agricultural work whilst also looking for a new job - in that example the person is deemed to be employed hence a more accurate rate of unemployment may be the headline rate plus 5%. That having been said there is no incentive whatsoever for a person to remain unemployed since hardly any benefits are paid. There is a form of unemployment pay where the person "signs on", but they are required to accept ANY job they are allocated otherwise they cease to be eligible for unemployment".

 

Just add census sampling to the list of things you don't understand, along with forex and currency transfers from Thailand!

[Brunolem]

2 hours ago, simoh1490 said:

I suspect you almost certainly didn't click on the link so I'll post the relevant section here:

 

"Thailand uses sampling to calculate the unemployment rate, the same system that western governments use to calculate population growth outside of census, gauge political opinion, understand demographics etc. One notable part of the Thai system is that about 5% of the employed population is understood to be underemployed and this occurs when a person ends their work, returns home and does small amounts of agricultural work whilst also looking for a new job - in that example the person is deemed to be employed hence a more accurate rate of unemployment may be the headline rate plus 5%. That having been said there is no incentive whatsoever for a person to remain unemployed since hardly any benefits are paid. There is a form of unemployment pay where the person "signs on", but they are required to accept ANY job they are allocated otherwise they cease to be eligible for unemployment".

 

Just add census sampling to the list of things you don't understand, along with forex and currency transfers from Thailand!

The internet is full of "know it all" like yourself, generally guys with little or no accomplishments in their life, who pretend to have extended knowledge on any subject they get involved with, based on a couple of texts they stumbled upon.

 

The purpose of forums like this one is to provide or exchange information, not to posture like a mindless peacock, trying to impress people you don't know anything about.

 

Having said that, a brilliant mind like yours would better be used to deal with serious issues that other, less fortunate souls, have been struggling with for decades.

 

For example, why don't you get involved in quantum physics and help all these happless physicists to grasp concepts such as quantum entanglement?

 

Maybe with your help, quantum computing could see some real progress...master...

 

[simoh1490]

22 minutes ago, Brunolem said:

The internet is full of "know it all" like yourself, generally guys with little or no accomplishments in their life, who pretend to have extended knowledge on any subject they get involved with, based on a couple of texts they stumbled upon.

 

The purpose of forums like this one is to provide or exchange information, not to posture like a mindless peacock, trying to impress people you don't know anything about.

 

Having said that, a brilliant mind like yours would better be used to deal with serious issues that other, less fortunate souls, have been struggling with for decades.

 

For example, why don't you get involved in quantum physics and help all these happless physicists to grasp concepts such as quantum entanglement?

 

Maybe with your help, quantum computing could see some real progress...master...

 

Sorry, I can't help you with your quantum physics problem, my area of interest is solely finance/economics, with a focus on Thailand, if I can be of any assistance in these areas, please feel free to ask.

[robblok]

27 minutes ago, Brunolem said:

The internet is full of "know it all" like yourself, generally guys with little or no accomplishments in their life, who pretend to have extended knowledge on any subject they get involved with, based on a couple of texts they stumbled upon.

 

The purpose of forums like this one is to provide or exchange information, not to posture like a mindless peacock, trying to impress people you don't know anything about.

 

Having said that, a brilliant mind like yours would better be used to deal with serious issues that other, less fortunate souls, have been struggling with for decades.

 

For example, why don't you get involved in quantum physics and help all these happless physicists to grasp concepts such as quantum entanglement?

 

Maybe with your help, quantum computing could see some real progress...master...

 

The guy you are attacking has proven himself to be quite knowledgeable in the past. He has far more credibility then you. 

[Brunolem]

20 minutes ago, robblok said:

The guy you are attacking has proven himself to be quite knowledgeable in the past. He has far more credibility then you. 

First I am not attacking but defending myself... please read the last paragraph of the post I quoted.

I don't attack anyone because I much prefer to argue and convince than dismiss and belittle, the latter being generally the tools of the weak.

 

As for my credibility, what do you know about it?

[simoh1490]

It seems we have got off to a bad start and the reason for that was your totally wild and invalid statements regarding the transfer of Thai Baht which you continued to defend as accurate, frankly, those comments demonstrated that you simply don't yet understand how the international banking system nor the Thai Baht, here's what you wrote:

 

"More generally, a bank only issues transfers in the local currency.

It is the bank in the country of destination that converts the money received.

 

So, if you transfer one million baht from Thailand to England, the Thai bank will issue a transfer in THB, and the English bank will convert these THB into British Pounds upon arrival.

 

If you want to transfer from Thailand in another currency than THB, say USD, things are even more complicated.

The Thai Bank will send THB to its counterpart in the US, who will convert the transfer into USD and then forward it to its final destination".

 

I'm happy to debate economics and finance with you as they pertain to Thailand but I'm not prepared to allow nonsense to go unchallenged, simply, there are people who will read it and take action based on what's said and that's really inappropriate or worse. So what do you say, want to start again on a level footing?