Most Thais Think Economy Bad, Getting Worse

[thaibeachlovers]

4 minutes ago, KiwiKiwi said:

 

That shouldn't be anything like as funny as it is. It ought to be tragic.

 

It ought to be untrue.

It is untrue, if one looks at the numbers in LOS that are actually in that business. That's even taking into account that the numbers in the Thai side vastly outnumber the ones in the farang scene.

[mogandave]

...far as I know.

Which is likely no further than you can see.

[thaibeachlovers]

1 minute ago, mogandave said:

 

Which is likely no further than you can see.

 

Which applies equally to yourself.

[KiwiKiwi]

2 minutes ago, thaibeachlovers said:

It is untrue, if one looks at the numbers in LOS that are actually in that business. That's even taking into account that the numbers in the Thai side vastly outnumber the ones in the farang scene.

 

What you say may be true, I couldn't say. But it doesn't *show* that it's true.

 

Everything else is just conjecture. The OP's opinion closely matches mine, and I infer that since mine is based on hard experience, then his is also likely to be.

[mogandave]

Growing auto industry gives more jobs but not more money for Somchai working on the band,and prices still go up

You either believe in supply and demand or you do not.

If you believe in supply and demand you understand that a scarcity of labor drives the cost of labor up.

If you do not believe in supply and demand entering into a discussion such as this with you is pointless.

[mogandave]

I'd say the money for the vehicles and phones in the nth east comes from easy credit.

While I generally agree, the bank does not typically make loans they do not expect to be replayed.

Low unemployment, increasing wages and benefits has a lot to do with it.

[theguyfromanotherforum]

19 minutes ago, KiwiKiwi said:

 

My reason for being here need not concern you, neither should the reason I decide to stay, neither one is any of your business.

 

I do however agree with you that Westerners are among the biggest brown-nosers of all, particularly (it seems) those who live among Thais in Thailand and still suffer the naive delusion that Thais appreciate brown-nosing. They only appreciate it if they do it.

 

As to your assumption that you know anything at all about me, that also is a delusion, you don't, so it would be better if you did not base any of your assumptions on the delusion that you do. Don't get me wrong, I have nothing against you, I don't even know you, what I do know is that you should not debate psychology or related issues with me.

 

Have a nice day.

 

 

And you equally shouldn't be concerned about Thai people wanting a house and a car. Or is this privilege only reserved for you to feel superior?

 

And I'll make as many assumptions as I want on a forum. I'll do as I please and there's nothing you can do about it.

[KiwiKiwi]

Just now, theguyfromanotherforum said:

 

And you equally shouldn't be concerned about Thai people wanting a house and a car. Or is this privilege only reserved for you to feel superior?

 

And I'll make as many assumptions as I want on a forum. I'll do as I please and there's nothing you can do about it.

 

Not at all, I may not agree with what you say but I will defend to the death your right to appear as whatever you wish. That's what free will is.

[Peterw42]

3 minutes ago, mogandave said:

While I generally agree, the bank does not typically make loans they do not expect to be replayed.

Isn't that what the GFC was, Banks printing money and lending it to people who couldn't afford it, chasing higher and higher returns. 

[JAG]

18 minutes ago, Cranky said:

They are very successful because of all the money shipped in by brasses for Mom and Pop to splurge on pick-up trucks, motorbikes, mobile phones and flash houses.  

Perhaps that could be described as "the view from the barstool".

 

"All the women around me shag for money."

 

"Most of the (western) men I know here pay to shag."

 

"Therefore all new consumer items which Thais purchase are funded by the women shagging."

 

Lord help us!

[mrmicbkktxl]

7 minutes ago, mogandave said:

 

You either believe in supply and demand or you do not.

If you believe in supply and demand you understand that a scarcity of labor drives the cost of labor up.

If you do not believe in supply and demand entering into a discussion such as this with you is pointless.

 

Do you actually know what you are talking about?Demand and supply nothing to do with the salary of Somchai,speally in countries like Thailand,Vietnam and Indonesia.Here is not USA or Europe with big unions behind the workers.Here Toyota says how much salary they want to pay,and if to much Toyota moves to Vietnam,so you can forget your micro and macro economics in takatukaland

[mogandave]

Which applies equally to yourself.

Now there’s a snappy comeback:

“I know you are but what am I?”

[mogandave]

Isn't that what the GFC was, Banks printing money and lending it to people who couldn't afford it, chasing higher and higher returns. 

What was the GFC?

Banks print money?

[Cranky]

1 minute ago, JAG said:

Perhaps that could be described as "the view from the barstool".

 

"All the women around me shag for money."

 

"Most of the (western) men I know here pay to shag."

 

"Therefore all new consumer items which Thais purchase are funded by the women shagging."

 

Lord help us!

Debate it all day long but the (sad?) fact is that for many, many years prostitution has been a massive part of the Thai economy.  Not all of the economy.  Buffaloes would be extinct if it weren't for us.

[mogandave]

Do you actually know what you are talking about?Demand and supply nothing to do with the salary of Somchai,speally in countries like Thailand,Vietnam and Indonesia.Here is not USA or Europe with big unions behind the workers.Here Toyota says how much salary they want to pay,and if to much Toyota moves to Vietnam,so you can forget your micro and macro economics in takatukaland

Hilarious

[Peterw42]

4 minutes ago, JAG said:

Perhaps that could be described as "the view from the barstool".

 

"All the women around me shag for money."

 

"Most of the (western) men I know here pay to shag."

 

"Therefore all new consumer items which Thais purchase are funded by the women shagging."

 

Lord help us!

Basically right, anyone who is making money is at the expense of someone being screwed., lol

[Cranky]

6 minutes ago, mrmicbkktxl said:

Do you actually know what you are talking about?Demand and supply nothing to do with the salary of Somchai,speally in countries like Thailand,Vietnam and Indonesia.Here is not USA or Europe with big unions behind the workers.Here Toyota says how much salary they want to pay,and if to much Toyota moves to Vietnam,so you can forget your micro and macro economics in takatukaland

Duh. No demand. No salary.

[mogandave]

Debate it all day long but the (sad?) fact is that for many, many years prostitution has been a massive part of the Thai economy.  Not all of the economy.  Buffaloes would be extinct if it weren't for us.

You’re a prostitute?

[mrmicbkktxl]

2 minutes ago, Cranky said:

Duh. No demand. No salary.

Correct,that is one reason why the government tries to keep the salaries low,Now it's around 350 per day,if they raise it Toyota and others might leave,easy as that

[Peterw42]

4 minutes ago, mogandave said:

 

What was the GFC?

Banks print money?
 

 

GFC, Global Financial Crisis 2007. 

 

Banks printing money is a metaphor for easy credit/rampid inflation etc.

[elgenon]

I enjoy reading the business section of the Bangkok Post. Economy is always on a great upswing and exports are too.

Then you read the technical stuff and not so true. Both in the same paper the same day.

[simoh1490]

5 minutes ago, Cranky said:

Debate it all day long but the (sad?) fact is that for many, many years prostitution has been a massive part of the Thai economy.  Not all of the economy.  Buffaloes would be extinct if it weren't for us.

 

The latest estimate is that the entire sex trade in Thailand accounts for 3% of GDP, that includes local customers, Asian customers and the Chinese, not many of whom tend to buy houses and cars for their rented ladies of the night, that's something that only farangs seem to want to do.

 

So given that farangs are by far in the minority in Thailand, I estimate that when you say that "for many, many years prostitution has been a massive part of the Thai economy", I presume you mean something in the order of 0.005% of GDP. Don't get me wrong, that's a lot of money but in terms of the Thai economy as a whole it's the size of a blackhead on an adult elephant.

[mogandave]

GFC, Global Financial Crisis 2007. 
 
Banks printing money is a metaphor for easy credit/rampid inflation etc.

No, I do not blame the banks for the GFC, at least not for the US component.

I blame the US government.

I think “printing money” is a better metaphor for quantitative easing.

[jayboy]

Simply confirms your naivety. There are self-serving and able people at senior levels, and well served but less than able people at that level, but well serving and able is a rare commodity in Thailand. Any experienced person would confirm that. 

I don’t wish to be impolite but you don’t appear to have had experience at the level that would give you the right to answer coherently.Experience isn’t of itself necessary but your fatuous response suggests you lack the ability or wish to do the necessary research.


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[mogandave]

Correct,that is one reason why the government tries to keep the salaries low,Now it's around 350 per day,if they raise it Toyota and others might leave,easy as that

So the government doubles the minimum wage in a few years because they are trying to keep it down?

There are no automakers paying anything close to minimum wage in Thailand.

Textiles on the other hand are labor intense and a lot of garment manufacturers have fled due to rising wages.

[Happyman58]

19 hours ago, spidermike007 said:

Restaurants, hotels, gift shops, and travel agencies, that cater to tourists. All are saying the same thing, in the resort areas. I am not making this up.

My wife ( by the way is a low educated Issan lady) which I read on here the other day but still manages to run a good business told me that business has never been so bad since these guys have been in power, I don't think she would just make that up

[spidermike007]

3 minutes ago, Happyman58 said:

My wife ( by the way is a low educated Issan lady) which I read on here the other day but still manages to run a good business told me that business has never been so bad since these guys have been in power, I don't think she would just make that up

No doubt. They are doing a horrific job with the economy. But, it stands to reason, since there is absolutely no talent within the administration. Nobody has any idea what they are doing, so the economy is more or less on cruise control. 

 

And most of the free spending Western tourists are gone forever. There are too many alternatives now, and Thailand is just not doing a good enough job to attract them. The Chinese tourist is the future of the tourism industry here. Big, big mistake. Well, maybe one upside to all of this is that we will start seeing some decent Chinese food in Thailand for a change?

[mogandave]

My wife ( by the way is a low educated Issan lady) which I read on here the other day but still manages to run a good business told me that business has never been so bad since these guys have been in power, I don't think she would just make that up

I worked in manufacturing (HVAC) here for 17 years, and but for one year 5-8 years back, business has never been better.

[sawadee1947]

Yes, economy is bad. 

Now people can see and feel how good and happy times with Shinawatras have been. 

Make it happen again with your next vote 

[mommysboy]

22 hours ago, lovelomsak said:

Of course the people think the economy is doing poorly. They are now middle class. They want more money to pay off their new truck sooner,more money to go out to restaurants,more money for new house,fashion clothes. etc.If they lived like they did 20 years ago they would have plenty. Middle class never have enough. When they can afford Toyota they move up to Benz and complain it is hard to make ends meet.

  

They are now middle class

 

Oh, yeah, sure!!