Most Thais Think Economy Bad, Getting Worse

[peter48]

It certainly is for Brits in Thailand as the falling pound goes on and on and we get less baht per pound. Brexit is self harm and we have not reached leaving the EU yet and open tariff free market of those 500 million people. Its a constant crisis with less investment, relocation to Europe, and foreign companies preparing to exit the isolated UK which alone in Europe except Albania, Serbia wants to be alone. The price for Brits will be very high and there will be years of adjustment as pensions will be less likely to rise, rights of Brits to go to EU are lost, less tax revenues hit the NHS and services  , foreign workers do not work in UK hospitality or warehouses /care homes. All this because less educated Brits swallowed the lies of UKIP and Nigel Farage and Boris Johnson, supported by the Sun and Mail.

 

The political and economic crises will worsen especially as May's government is fragile and Corbyn offers little comfort to voters. Move money when you can even the Bank of England are suggesting very low growth and high street jobs are now disappearing  like snow in the desert. The world sold off sterling for one reason: bonkers Brexit.

[mogandave]

Isn’t the pound right about where it was 5 years ago?

[Happyman58]

51 minutes ago, mogandave said:

 

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

 

I take it the manufacturing you are in is for export. I think my wife was commentating on the local economy 

[GarryP]

1 hour ago, mogandave said:

 

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

 

Benefiting from the construction and automobile boom no doubt. Good for you.

[NorthernRyland]

3 hours ago, spidermike007 said:

I do not buy your theory for a nanosecond. Just look at some of the staples we eat. Watermelon has gone from 12 baht per kilo, to between 20 and 25 per kilo in the past 10 years. Pomelo has gone from 25-30 baht each, to 60-80 baht each. Oranges have skyrocketed to the point where most of us do not buy them anymore. Meat, seafood, bread, butter, milk, rice, nearly all vegetables, beer, and nearly anything else I can think of has gone up significantly. I think the real inflation rate is at least 10% annually. I am not interested in the "basket of goods" fiction that the government uses to try to convince us of the lie, that inflation is low. Just look around you. 

 

My benchmark is fried rice was 20 baht in 2005 and now it's reliably 30-35. That's 3.5-4.5% year over year.

 

http://jsfiddle.net/8yxsa2fh/7/

[wvavin]

Who are the "half" that have been surveyed? My experience tells me that 90% of the Thais don't even know what the outside world is like.

[NorthernRyland]

1 hour ago, mrmicbkktxl said:

Demand and supply nothing to do with the salary of Somchai,speally in countries like Thailand,Vietnam and Indonesia.

Nothing at all? So if there were 10 jobs in the country and 10 million applicants the price of labor would be the same as as if there were 10 million jobs and 10 applicants?

[Cranky]

5 minutes ago, genericptr said:

Nothing at all? So if there were 10 jobs in the country and 10 million applicants the price of labor would be the same as as if there were 10 million jobs and 10 applicants?

Do you think he's got it yet?  

[bkk6060]

This place is highly leveraged.

They want a middle class life.  Car, apt., clothes, Iphones snd Starbucks.

But,  12 to 15,000 a month does not go far so bring out the credit cards....

[brucec64]

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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You can attempt to mask your naivety with condescending and patronizing rhetoric, but your position is still based on naivety. I have experienced and researched the incompetence of the country's civil service policy generation and implementation for many years, and it is a naive attitude to think that the civil service is anything but self serving and corrupt, starting from the very top, all the way to the bottom ranks.

Sent from my SM-N950U1 using Thailand Forum - Thaivisa mobile app

[mogandave]

I take it the manufacturing you are in is for export. I think my wife was commentating on the local economy 

About 70% domestic.

Actually, we’ve seen more growth domestically than with exports.

[mogandave]

Benefiting from the construction and automobile boom no doubt. Good for you.

I was just trying to make a point that anecdotal evidence is useless

[mogandave]

You can attempt to mask your naivety with condescending and patronizing rhetoric, but your position is still based on naivety. I have experienced and researched the incompetence of the country's civil service policy generation and implementation for many years, and it is a naive attitude to think that the civil service is anything but self serving and corrupt, starting from the very top, all the way to the bottom ranks.

Sent from my SM-N950U1 using Thailand Forum - Thaivisa mobile app

Something the civil service in the EU countries?

[Brunolem]

4 hours ago, spidermike007 said:

Hope they get their act together soon, with the high speed trains. 

I wouldn't hold my breath on that one...

[Jim walker]

A bit more difficult to run a country than an military base possibly you need to have clever sharp brains and be reasonably intelligent to hold a political office unlike a military officer who has people decide everything for them any problems contact daddy or even higher ranking uncle officer problem solved  

[Brunolem]

3 hours ago, mogandave said:

I’ve been buying Pepsi Max at “seven” for years. It has been THB18 all the time.

Yesterday it was THB15.

This proves that inflation is actually NEGATIVE 18%!!!!

A frequently used index to check inflation is the Big Mac index.

For years, the Big Mac set was sold at 99 baht, until around 2005, when inflation started to bite.

Today, the Big Mac set is 70 to 80% higher, depending on where you order.

This would confirm my off the cuff estimate that prices have on average doubled in the last 13 years.

[mogandave]

A frequently used index to check inflation is the Big Mac index.
For years, the Big Mac set was sold at 99 baht, until around 2005, when inflation started to bite.
Today, the Big Mac set is 70 to 80% higher, depending on where you order.
This would confirm my off the cuff estimate that prices have on average doubled in the last 13 years.

Certainly would not have anything to do with the popularity of McDonald’s in Thailand..

[Brunolem]

3 hours ago, BritManToo said:

It seems to work for America and Europe.

It works...until it doesn't...

[Brunolem]

3 hours ago, mogandave said:

 

What was the GFC?

Banks print money?
 

 

Great Financial Crisis

 

Banks print money on your bank book, but not the corresponding bills...the printing press for that is at the central bank, running 24/7 since 2008 and trying to keep up...

[mogandave]

Great Financial Crisis
 
Banks print money on your bank book, but not the corresponding bills...the printing press for that is at the central bank, running 24/7 since 2008 and trying to keep up...

Wow, are you a financial advisor?

[Brunolem]

2 hours ago, peter48 said:

It certainly is for Brits in Thailand as the falling pound goes on and on and we get less baht per pound. 

Don't worry, the pound will soon be replaced with the dinar!

[Brunolem]

4 minutes ago, mogandave said:

 

Wow, are you a financial advisor?

 

Retired...

[Brunolem]

34 minutes ago, mogandave said:

 

Certainly would not have anything to do with the popularity of McDonald’s in Thailand..

 

Indeed high demand can be a booster for inflation, but the reason for the price increase doesn't change its impact on the index...

[simoh1490]

2 minutes ago, Brunolem said:

Indeed high demand can be a booster for inflation, but the reason for the reason for the price increase doesn't change its impact on the inflation index...

Which type of inflation?

 

Come on, you've had plenty long enough to google it. 

[Brunolem]

4 minutes ago, simoh1490 said:

Which type of inflation?

 

Come on, you've had plenty long enough to google it. 

Are you trying to bait me Simoh?

 

In fact we are talking about price increases and not about inflation as per its economic definition.

 

But let's keep things simple if you don't mind...

[simoh1490]

1 minute ago, Brunolem said:

Are you trying to bait me Simoh?

 

In fact we are talking about price increases and not about inflation as per its economic definition.

 

But let's keep things simple if you don't mind...

I don't do baiting, either giving or receiving.

 

OK so it's price increases and not inflation, that's good that you clarified that.

 

Price increases is just a marketing ploy to see how much the market will stand, it's not really Big Mac Index related. BMI is where the base price is set at home, whatever that price be, and the relative values are calculated based on different locations, so 95% of 104% etc, it doesn't matter that the base price changes.

 

Here's a useful piece on inflation for those interested. https://www.thebalance.com/types-of-inflation-4-different-types-plus-more-3306109

 

 

[mogandave]

A frequently used index to check inflation is the Big Mac index.
For years, the Big Mac set was sold at 99 baht, until around 2005, when inflation started to bite.
Today, the Big Mac set is 70 to 80% higher, depending on where you order.
This would confirm my off the cuff estimate that prices have on average doubled in the last 13 years.

That higher math gets a little rugged I know...

[mogandave]

I don't do baiting...
 
 

I’m a master...

I paid 22k for a 44” Samsung flat-screen a few years ago and today I can get 55” Samsung flat-screen for 21k.

That proves inflation is NEGATIVE!!!!!

[LomSak27]

3 hours ago, sawadee1947 said:

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 

You have rich people having problems, and poor people really in trouble, yet what are you doing, whinging about the the Shins.

My God, maybe you get paid for these posts,  but try to show a little empathy even if its fake.

[Brunolem]

6 minutes ago, mogandave said:

 

That higher math gets a little rugged I know...

 

I was referring to the Big Mac SET, that also includes French fries and a drink.

This set, I think, currently retails at around 175 baht, regular price (excluding temporary promotions).