2 hours ago, Joe Mcseismic said:

No, economics, though, like many subjects, maths is involved (like accounting, physics etc. etc.). As far as I know, international trade falls under economics. I know that because I took a course in economics and international trade was included. I'll give you the point that tariffs come into it, but, Thailand is a poor country in relation to the USA. To expect them to buy the same value of goods as the US buys from Thailand is totally unrealistic, especially when you take labour costs in the two respective countries into account. US goods to Thais are expensive. Thai goods to the US relatively cheap. That's called "comparative advantage" in economics.

Did you take Law 101, and a legal expert too.  Stay in a Holiday Inn Express last night?

Recommended reading:

 

"Pattaya" sub-forum

Thread: "Jomtien"/ Page 2/ Post 19

One day the news reports all international investors pulling their money out of Thailand ahead of the election.

 

Then the baht gets stronger?

 

What a bunch of BS!

7 hours ago, JaiLai said:

The amounts that crusty old foreigners send to meet the new criteria is a mere drop in the ocean (maybe not even that much), the Ex rate is hardly manipulated for that......seriously?!!!

Actually I was being sarcastic about a conspiracy. But your comment that 800,000 baht multiplied by the number of old crusty foreigners only amounts to a drop in the ocean is like your avatar, "insane".

2 hours ago, thaiguzzi said:

No, he's just one of the few guys on this forum whose glass is half full.

You know, has a spring in his step, a smile on his face, the world is a nice place and life is good.

One of those sort of guys.

Difficult to find on this forum , i know, but they do exist.

I don't think he has been here long enough.  Sounds fresh off the boat.  A rookie!  lol . j/k

Most of people posting comments here do not know nothing about economy first of all the USD is not weak is stable in all countries being less valuable in Thailand its a game made by the Thai govement in order to pay more for nonsense things and keep the difference which become billions counting all

In the other hand if you receive money in western union you won't get more than 28.60 baht per 1 usd 

But if you want to transfer then you will be charged 33.50 baht per usd its like a double saw slide you in two ways

9 hours ago, notasmartassknowitallfarag said:

On the flipside, if you work here you could send money back to your home bank account. 

 

 Do  you have a work permit ?.  Really, 555

3 hours ago, Nyezhov said:

Me too, its so bad I am sharing Leos in front of 7-11 with street guys.

 See  ya there soon , mines Archa from a can .

   Once upon a time , i was a  weathly farang  , before brexit madness .

 

 

Edited February 21, 20197 yr by elliss

15 hours ago, Deez said:

How is this good for an export economy?  

It's not, and when tourism figures it out that it's not such a cheap holiday destination and vote with their feet to go to other Asian countries they might do something.

17 hours ago, JRG23 said:

Surely this is unsustainable?

 

Either this is unsustainable or some retirees lifestyles in Thailand are.

15 hours ago, BobbyL said:

I hope it continues. We're going there again on holiday next year. 

 

Post of the year!

I could tolerate Aussies and Brits whinging about their currency, but now Americans? Wow, the forum is doomed.

6 minutes ago, Pravda said:

I could tolerate Aussies and Brits whinging about their currency, but now Americans? Wow, the forum is doomed.

Bit of a silly comment, the forum was doing great long before you arrived, and will be doing great long after your gone.

Actually I was being sarcastic about a conspiracy. But your comment that 800,000 baht multiplied by the number of old crusty foreigners only amounts to a drop in the ocean is like your avatar, "insane".

Ok mate, whatever you say...


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13 hours ago, whimsicalmike said:

How is it tied to the USD

Is it freely traded FORX so hence the markets determine the rate or does the Thai Govt decide the rate ?

It is NOT tied to the USD. That's why it is free to "float". It is tied to no other countries currency.

18 minutes ago, Longcut said:

It is NOT tied to the USD. That's why it is free to "float". It is tied to no other countries currency.

Thailand's huge $US reserves has the same effect doesn't it ?

17 minutes ago, Peterw42 said:

Thailand's huge $US reserves has the same effect doesn't it ?

From 1956 until 1973, the baht was pegged to the U.S. dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978.^[7][8][9] A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until 2 July 1997, when the country was affected by the 1997 Asian financial crisis. The baht was floated and halved in value, reaching its lowest rate of 56 to the dollar in January 1998. It has since risen to about 30 per dollar.

4 hours ago, Pravda said:

I could tolerate Aussies and Brits whinging about their currency, but now Americans? Wow, the forum is doomed.

Naw dude, we (at least speaking for me) arent whinging about 30 to the dollar. 

 

We are sort of bragging...hey Mate, how many baht those Roos getting? 19? Wow I feel ya, we are getting 30, Im going broke (snicker).

 

TIC, I feel bad for folks.

15 minutes ago, Nyezhov said:

Naw dude, we (at least speaking for me) arent whinging about 30 to the dollar. 

 

We are sort of bragging...hey Mate, how many baht those Roos getting? 19? Wow I feel ya, we are getting 30, Im going broke (snicker).

 

TIC, I feel bad for folks.

 

Roos and Oonies

20 hours ago, Joe Mcseismic said:

You don't seem to understand international trade. The USA has a bigger appetite for Thai goods than Thailand has for US goods. Nothing to do with tariffs. This is the same situation as the US trade deficit with China.

Thank goodness for chicken feet & pigs ears.

Euro @34! Great, I’m off to St Tropez next month. Long may it devalue as may all the others LOL


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My first thought is that the "Experts" were not identified in this article.

Everyone on every TV is an "Expert" these days, and all they have is Opinions.

My next thought is: This smells like collusion between some Embassy Officers - Thai Immigration - Thai Banks to make profits at the expense of retired expats.

Unfortunately, as pointed out in the comments it is also going to do damage to the Tourism and Export industries.

Thai Greed may come back to bit them in the ass if this continues, and then it will be too late!

Too many farangs on ThaiVisa like to think farangs are the foundation of the Thai economy.  News flash!!!...that's fake news.  

 

Like Benroom talked above all the Bt800K deposits by farangs is but a drop in a big water tank.  But to be fair I do expect some bars in a few towns with a lot of expats (i.e., Pattaya, Phuket, etc) to see a significant drop in business which will probably represent 0.0000000000001% negative impact on the Thai economy.

2 hours ago, Benroon said:

Very ball park Figures - the British Embassy reckon there are about 35,000 long term expats in Thailand (not the millions quoted on here) - so 35,000 x 800,000 (40.88 exchange rate) = £684,931,50.

Less than £700,000.

I think you left ou a few zeros.

2 hours ago, Benroon said:

No its not - not even close to insane.

 

Very ball park Figures - the British Embassy reckon there are about 35,000 long term expats in Thailand (not the millions quoted on here) - so 35,000 x 800,000 (40.88 exchange rate) = £684,931,50.

 

The Thai Economy (2 years ago, its grown since but I haven't got the latest figure) is worth roughly £350,000,000,000 so £350,000,000,000 divided by £684,931.50 is just under 0.0001%

 

THAT give or take a few baht is how much long term expats matter to the Thai government, 35,000 expats are contributing 0.0001% to this economy with their 800,000's - if everyone went home tomorrow they won't lose a seconds sleep nor will they take a hit.

 

To suggest thai banks are in some sort of conspiracy to hijack piles of 800,000's is hilariously stupid.

 

All the paddies and hissy fits in the world isn't going to change the fact - you either suck it up or leave - but the illusions of grandeur need to stop! We do not matter.

Interesting that you provided no mention of the multiplier effect in your calculations. How many tourists visit Thailand every year because one of their family or mates is a long stay expat here?

2 hours ago, Benroon said:

No its not - not even close to insane.

 

Very ball park Figures - the British Embassy reckon there are about 35,000 long term expats in Thailand (not the millions quoted on here) - so 35,000 x 800,000 (40.88 exchange rate) = £684,931,50.

 

The Thai Economy (2 years ago, its grown since but I haven't got the latest figure) is worth roughly £350,000,000,000 so £350,000,000,000 divided by £684,931.50 is just under 0.0001%

 

THAT give or take a few baht is how much long term expats matter to the Thai government, 35,000 expats are contributing 0.0001% to this economy with their 800,000's - if everyone went home tomorrow they won't lose a seconds sleep nor will they take a hit.

 

To suggest thai banks are in some sort of conspiracy to hijack piles of 800,000's is hilariously stupid.

 

All the paddies and hissy fits in the world isn't going to change the fact - you either suck it up or leave - but the illusions of grandeur need to stop! We do not matter.

You've lost 000s. It's more like 0.2% of GDP @ 800k by 35k retiree expats, though a more accurate figure would probably be 100k (including marrieds on 400k). But indeed, the powers that be couldn't give a monkeys; in fact, they would rather you not be there making the place look untidy... whether one be a whiner or sickly Thaier than Thai variety. 

 

Of the baht climbing ever higher, surely investors getting in for the inevitable interest rate hike are having a big affect...

9 minutes ago, Benroon said:

Given there are only an estimated 35,000 long termers I would say not a lot - ok lets say every single long term had TEN friends visit (which of course is highly unlikely) they are very unlikely to be here for more than a couple of week and certainly won't be spending 800,000 so ok lets make it 0.00012% - happy ?

Good. Now we are getting somewhere. Now, how many of these 35,000 expats have purchased  a property and a new vehicle.

12 minutes ago, Benroon said:

Wow talk about grasping at straws - ok lets say the 35,000 spend £195,000 per year EACH and EVERY year representing ten times the 800,000 baht (know anyone that does that ?) - then their contribution rockets from 0.0001% to 0.001% - ok ?

 

Use a calculator instead of your fingers

Ok. Coming along nicely. Now, how much do these 35,000 folks spend on medical and dental care?

9 minutes ago, Khaeng Mak said:

Ok. Coming along nicely. Now, how much do these 35,000 folks spend on medical and dental care?

Reductio ad absurdum.

 

Dude, money spent by western expats is a drop in the bucket to their economy.

4 minutes ago, Nyezhov said:

Dude, money spent by western expats is a drop in the bucket to their economy.

Yep, i had a conversation a few years back with a fellow expat, he absolutely refused  to believe that Laem Chabang port earned a lot more money than Walking Street - I gave up..............................