Most Thais Think Economy Bad, Getting Worse

[KiwiKiwi]

14 minutes ago, Eric Loh said:

Some economist will tell you that the glass is half full while others will say

half empty. Heard if this expression before? Kind of like coin toss. 

I think our friend is referring obliquely to a comment of mine some time ago (perhaps yesterday). I also recall another poster (which might in fact have been our friend, I don't remember), who said that Economics would still exist if there were suddenly no economists to practice it.

 

Which is a bit of an excursion into philosophy (would a falling tree make a sound if there were nobody to hear it?). It's a lot of nonsense but someone did in fact post that.

[Scott]

A Thai bashing post has been reported and removed.  

[mogandave]

Some economist will tell you that the glass is half full while others will say
half empty. Heard if this expression before? Kind of like coin toss. 

Whether it’s reported as half empty or half full is just spin.

The actual volume is a fact, and that volume exists with or without the report.

One could argue it’s half full when you’re pouring, and half empty when you’re drinking...

[Brunolem]

59 minutes ago, Eric Loh said:

Walking around your neighborhood is an accepted form of economics. Looking around and noting the consumption, inequality, financing, employment are just an important than arcane reports. Reports may be useful but the devil are in the details. 

Some "knowledgeable" members would dismiss direct observation as anecdotal, and say that the paper pushers from the IMF who never set a foot out of their office, provide more reliable information...go figure...

 

For the observer on the ground, it's quite simple...if you happen to live in Bangkok close to Siam Square, the Thais have never had it better...now if you happen to live in a small Isaan town, the Thais have probably never been more indebted...

Edited June 9, 2018 by Brunolem

[Brunolem]

12 minutes ago, mogandave said:

 

Whether it’s reported as half empty or half full is just spin.

The actual volume is a fact, and that volume exists with or without the report.

One could argue it’s half full when you’re pouring, and half empty when you’re drinking...
 

 

Quantum physics would tell you that at particle level, things don't exist as long as they are not observed.

 

 

[Odysseus123]

Yes.

 

The topic is about "Most Thais think.."

 

And from where I stand most Thai think that it is a total economic disaster.

 

I have absolutely no interest in what "farangs" and place seekers in Chiang Mai (pollution capital of planet Earth) might have to say on the subject.

Edited June 9, 2018 by Odysseus123

[KiwiKiwi]

6 minutes ago, Brunolem said:

Quantum physics would tell you that at particle level, things don't exist as long as they are not observed.

 

 

 

Just now, Odysseus123 said:

Yea,

 

The topic is about "Most Thais think.."

 

And from where I stand most Thai think that it is a total economic disaster.

 

I have absolutely no interest in what "farangs" and place seekers in Chiang Mai (pollution capital of planet Earth) might have to say on the subject.

 

 

In any case,, that's not quite what QM says so it has no real relevance.

[mogandave]

Quantum physics would tell you that at particle level, things don't exist as long as they are not observed.
 
 

Wow, I didn’t even know it could talk.

[Odysseus123]

3 minutes ago, KiwiKiwi said:

 

 

 

In any case,, that's not quite what QM says so it has no real relevance.

"Most Thai think that the economy is getting worse.." is the header to this thread..

 

Therefore my post is relevant-not what foreign Real Estate Agents might mutter.

 

I bid you adieu.

[KiwiKiwi]

1 minute ago, Odysseus123 said:

"Most Thai think that the economy is getting worse.." is the header to this thread..

 

Therefore my post is relevant-not what foreign Real Estate Agents might mutter.

 

I bid you adieu.

Indeed. I was noting that the comment about QM had no relevance, either to the thread, or in what was said.

 

So you're right.

 

Adieu

[Rarebear]

30 minutes ago, Odysseus123 said:

"Most Thai think that the economy is getting worse.." is the header to this thread..

 

Therefore my post is relevant-not what foreign Real Estate Agents might mutter.

 

I bid you adieu.

I live in Thailand.  Do you?  Is that how you get Thai opinion?  Or do you live in some other country and are drawing on your memories? 

[Rarebear]

51 minutes ago, Brunolem said:

Some "knowledgeable" members would dismiss direct observation as anecdotal, and say that the paper pushers from the IMF who never set a foot out of their office, provide more reliable information...go figure...

 

For the observer on the ground, it's quite simple...if you happen to live in Bangkok close to Siam Square, the Thais have never had it better...now if you happen to live in a small Isaan town, the Thais have probably never been more indebted...

12 million people live in Bangkok and 12 people live in that small Issan town.  Seems obvious who to listen to. 

[Rarebear]

2 hours ago, Brunolem said:

Hot money flowing in real estate in search of a safe haven has little to do with a country's economy.

Depending on the volume of money involved, it may influence the economy, but most generally only locally (Vancouver, London, or Bangkok and Pattaya in Thailand).

Such influx of hot money is not necessary a good thing for the concerned country.

First, it prices out the local population in its own real estate market.

Then, this money can leave the country as quickly as it arrived (the Russians in Thailand).

 

People who benefit from this booster have a tendency to be biased in their opinions for obvious reasons, in the same way that stock market traders, benefiting from the central banks largesses, become convinced that the market indexes reflect the reality and that they are "masters of the universe".

Foreign exchange?  Is foreign exchange what you call hot money?  It is worth more than Thai money so I guess you could say hot.  That is why all countries crave tourism and creation of a positive trade balance.  1000 baht in money from rice grown and sold in Thailand is worth 1000 baht to the Thai economy.  1000 baht in money brought in by a Chinese person and spent on a condo is worth 10,000 baht to the Thai economy.  If this seems mysterious to you I suggest going to school and taking a course in economics where the foreign trade multiplier may be explained.  Such influx of money is always a good thing unless you are trying to promote another countries economy at the expense of Thailand say a Burmese trade minister.  Put simply our som tom seller gets 100 baht from the 1000 baht of locally grown and sold rice and 1000 baht from the Chinese 1000 baht investment.  In all cases the som tom seller is better off with sales of 1000 baht instead of 100 baht. 

 

Since very few Issan farmers take economics in college most would not be aware of this so it is understandable they might not appreciate the foreign investment. 

[Odysseus123]

1 minute ago, Rarebear said:

Foreign exchange?  Is foreign exchange what you call hot money?  It is worth more than Thai money so I guess you could say hot.  That is why all countries crave tourism and creation of a positive trade balance.  1000 baht in money from rice grown and sold in Thailand is worth 1000 baht to the Thai economy.  1000 baht in money brought in by a Chinese person and spent on a condo is worth 10,000 baht to the Thai economy.  If this seems mysterious to you I suggest going to school and taking a course in economics where the foreign trade multiplier may be explained.  Such influx of money is always a good thing unless you are trying to promote another countries economy at the expense of Thailand say a Burmese trade minister.  Put simply our som tom seller gets 100 baht from the 1000 baht of locally grown and sold rice and 1000 baht from the Chinese 1000 baht investment.  In all cases the som tom seller is better off with sales of 1000 baht instead of 100 baht. 

 

Since very few Issan farmers take economics in college most would not be aware of this so it is understandable they might not appreciate the foreign investment. 

Goodness me..

 

Rapidly trained and rushed to the front..

 

You are number three propagandist now-you should be honoured.

 

Presumably you-and the other two-are doing it out of love..deep,committed..abiding love.

[Rarebear]

1 minute ago, Odysseus123 said:

Goodness me..

 

Rapidly trained and rushed to the front..

 

You are number three propagandist now-you should be honoured.

 

Presumably you-and the other two-are doing it out of love..deep,committed..abiding love.

Nothing about the topic.  Nothing about my post.

[Odysseus123]

2 minutes ago, Rarebear said:

Nothing about the topic.  Nothing about my post.

Raw recruit.

 

"just box me up and send me home.."

[Rarebear]

3 minutes ago, Odysseus123 said:

Raw recruit.

 

"just box me up and send me home.."

Nothing about the topic.  Nothing about my post.

[Odysseus123]

Did you receive at least 12 weeks of training before embarking on your present career-as a Thai propagandist?

[Rarebear]

3 minutes ago, Odysseus123 said:

Did you receive at least 12 weeks of training before embarking on your present career-as a Thai propagandist?

Nothing about my post.  Nothing about the topic.

[Odysseus123]

Just now, Rarebear said:

Nothing about my post.  Nothing about the topic.

Off you go to the awkward squad-sonny Jim

[Rarebear]

8 minutes ago, Odysseus123 said:

Off you go to the awkward squad-sonny Jim

Nothing about my post. Nothing about the topic.

[Odysseus123]

4 minutes ago, Rarebear said:

Nothing about my post. Nothing about the topic.

Splendid.30 days in jankers with stoppage of pay.

 

70 posts now?

[simoh1490]

5 hours ago, Brunolem said:

Some "knowledgeable" members would dismiss direct observation as anecdotal, and say that the paper pushers from the IMF who never set a foot out of their office, provide more reliable information...go figure...

 

For the observer on the ground, it's quite simple...if you happen to live in Bangkok close to Siam Square, the Thais have never had it better...now if you happen to live in a small Isaan town, the Thais have probably never been more indebted...

Which, all in all, favours strongly the views of the paper pusher over the direct observer, if you're looking for an objective assessment that is.

[simoh1490]

3 hours ago, Odysseus123 said:

Did you receive at least 12 weeks of training before embarking on your present career-as a Thai propagandist?

Shamefully you appear to have gone into attack the posters mode rather than attacking the content, having scraped the barrel of arguments that's often all that remains for many.

[mstevens]

16 hours ago, Rarebear said:

Chinese are trying to get money out of China.  Is this news to anyone?

As someone who lives in a country which has seen property prices soar, at least partially due to a huge influx of Chinese buyers and money out of China, let me tell you that few people are happy about it.  Will be interesting to see what the Thais think of this as there is more awareness amongst everyday Thais of what is happening.

[mogandave]

As someone who lives in a country which has seen property prices soar, at least partially due to a huge influx of Chinese buyers and money out of China, let me tell you that few people are happy about it.  Will be interesting to see what the Thais think of this as there is more awareness amongst everyday Thais of what is happening.

As someone that grew up in a state which saw property values soar, there seemed to be a lot of people that were happy about it.

[mfd101]

1 hour ago, mogandave said:

As someone that grew up in a state which saw property values soar, there seemed to be a lot of people that were happy about it.

Sensible people (ie already in the market) profit. A few profit rather too much (ie don't know when to stop - rather like bodybuilders).

 

And those not in the market already (including - but not exclusively - young people just getting started in life) miss out and struggle longterm.

[mogandave]

Sensible people (ie already in the market) profit. A few profit rather too much (ie don't know when to stop - rather like bodybuilders).
 
And those not in the market already (including - but not exclusively - young people just getting started in life) miss out and struggle longterm.

Not sure what you mean by profit too much. You mean if someone can sell their home for 500,000, they should sell it for 300,000 so as not to profit too much?

Rising property values make it more difficult to get into a home, but they also drive up wages and tax revenue.

[Rarebear]

47 minutes ago, mfd101 said:

Sensible people (ie already in the market) profit. A few profit rather too much (ie don't know when to stop - rather like bodybuilders).

 

And those not in the market already (including - but not exclusively - young people just getting started in life) miss out and struggle longterm.

Nonsense.  Get a loan from the VA or other government agency or daddy or uncle.  Stupid young people who know not how to finance or get decent employment miss out.  Why do you think people work for the government or government education in Thailand as opposed to becoming motorcycle taxi drivers? My wife comes from a poor family but worked hard and the government paid for her education and she had no trouble getting a first loan. 

[Brunolem]

13 hours ago, Rarebear said:

12 million people live in Bangkok and 12 people live in that small Issan town.  Seems obvious who to listen to. 

And 22 million live in Isaan, spread accross villages and small cities.

 

Meanwhile, a large share of the 12 million in Bangkok come from Isaan, and don't live in opulence, but rather share a room with many others when they don't sleep on their working site, because they certainly can't afford buying or renting in central Bangkok.

Edited June 10, 2018 by Brunolem