Expats feeling the pinch as GBP sinks to an all time low against the THB

[Eric Loh]

11 minutes ago, Angry Dragon said:

thus, despite an increase in debt, the debt has in fact become more affordable given the size of the economy.

I am not an economist but judging from the 22T debt as against the 21T GDP, it doesn’t seem that USA cant afford the debt.  Am I correct to say that? 

[tracy3eyes]

22 hours ago, JamJar said:

 

A shame that there isn't a puke emoticon.

Ouch!!! What a sensitive soul! Have a nice day.

[gearbox]

2 hours ago, drgoon said:

I'm not refering to expats... my inference was the Africans and Middle Eastern people along with the many, many from the 'Asian' continent ( Pakistan, Afghanistan etc). I think you know what I mean

I don't know about the UK, but in Australia you won't see many Indians or Chinese born on welfare....and the stats confirm:

 

https://www.sbs.com.au/news/refugees-on-welfare-the-real-numbers

 

In fact the UK born dole bludgers seem to be over represented, compared say to the Indians.

 

Of course nothing beats the classic beer guzzling, surf waxing Aussie dole bludger ???? 

[nauseus]

5 minutes ago, Eric Loh said:

I am not an economist but judging from the 22T debt as against the 21T GDP, it doesn’t seem that USA cant afford the debt.  Am I correct to say that? 

The debt will grow as long as the US Gov allows it to. It's already unlikely that it will ever be paid, or even will able to be paid.

 

Edited July 31, 2019 by nauseus

[Burma Bill]

On 7/30/2019 at 10:33 AM, mstevens said:

1 pound currently gets just 37.3 baht at Vasu Exchange, Sukhumvit soi 7/1. OUCH!

Yes indeed - ouch! Yesterday my branch of Bangkok Bank in Isaan was quoting 36.7 baht to one pound!

[Eric Loh]

9 minutes ago, nauseus said:

The debt will grow as long as the US Gov allows it to. It's already unlikely that it will ever be paid, or even will able to be paid.

 

That's true. The house just raise the debt ceiling to accommodate the increased debts. It's a moving train with faulty brakes. 

[david555]

With this fluctuating exchange rates it can give serious mistakes …& accordingly problems to make correct monthly income transfers for extensions for immigration ….. beware those who use this option ….send enough !

[Percy P]

On 7/30/2019 at 10:37 AM, Gecko123 said:

Currency exchange rates are just half the picture. Look at what's going on with interest rates.

 

If 500K in your home currency used to yield 4% in fixed income and now only yields 1%, that's a 15,000 lower pre-tax return per year and 150,000 lower return over 10 years. That's having an even bigger impact on standards of living than falling currency exchange rates.

 

If interest rates were higher everybody would want to deposit their money in Thailand making the Baht Evan stronger.

[marcusarelus]

3 hours ago, Isaan sailor said:

Thailand is now a colony of China, thanks to Bank of Thailand and the current administrations bi-lateral trade deals.

Thailand trading partners 2019.  China 11.9%.  America 11.7%.  Japan 9.9%

 

A bit off there about Being a Chinese colony. 

 

http://www.worldstopexports.com/thailands-top-import-partners/

[marcusarelus]

3 hours ago, fforest1 said:

Thanks I see the USD is up quite a bit since 2013

[Isaan sailor]

1 minute ago, marcusarelus said:

Thailand trading partners 2019.  China 11.9%.  America 11.7%.  Japan 9.9%

 

A bit off there about Being a Chinese colony. 

 

http://www.worldstopexports.com/thailands-top-import-partners/

I call ‘em as I see ‘em, Marcus.  Have watched my currency sink for nigh on 2 years—and it’s not pretty.  Not a cheap Charlie.  Have invested millions in this 3rd world country—only to see hot money intoxication at Bank of Thailand—taking all western currencies down.

[Perhaps2more]

On 7/30/2019 at 4:37 AM, Gecko123 said:

Currency exchange rates are just half the picture. Look at what's going on with interest rates.

 

If 500K in your home currency used to yield 4% in fixed income and now only yields 1%, that's a 15,000 lower pre-tax return per year and 150,000 lower return over 10 years. That's having an even bigger impact on standards of living than falling currency exchange rates.

 

Why would you keep 500K in a bank? You could have a gold account with a bank without actually holding Gold (for safety). Gold has gone up massive amount and the property market has also been up. You could get a rental income and the extra income from the increasing value of the property.

[Eric Loh]

35 minutes ago, FredGallaher said:

Nice to see the avoidance here of the issue. It was about feeling the pinch as the GBP is diving. How did it become a referendum on the US economy? It classic bait and switch stuff. 

Not really about US economy but what Trump said that would have an enormous effect on the GBP. Can he deliver?

BREX FRIENDS 

Donald Trump promises Brexit bonanza after UK leaves EU in first chat with new PM Boris Johnson

[Isaan sailor]

4 minutes ago, marcusarelus said:

Thanks I see the USD is up quite a bit since 2013

Sure, USD may be up since 2013.  But going south steadily for the last 2 years.  So who has rose-colored glasses on?

[gearbox]

11 minutes ago, Isaan sailor said:

I call ‘em as I see ‘em, Marcus.  Have watched my currency sink for nigh on 2 years—and it’s not pretty.  Not a cheap Charlie.  Have invested millions in this 3rd world country—only to see hot money intoxication at Bank of Thailand—taking all western currencies down.

Your multi-million investments should be worth way more now...what exactly are you complaining about?

[nauseus]

20 minutes ago, marcusarelus said:

Thanks I see the USD is up quite a bit since 2013

Not against the Baht it ain't.

[Joe Mcseismic]

24 minutes ago, Eric Loh said:

Not really about US economy but what Trump said that would have an enormous effect on the GBP. Can he deliver?

BREX FRIENDS 

Donald Trump promises Brexit bonanza after UK leaves EU in first chat with new PM Boris Johnson

When he says "Brexit Bonanza" he means for the USA. Have you forgotten what MAGA stands for?

[sanemax]

1 minute ago, Joe Mcseismic said:

When he says "Brexit Bonanza" he means for the USA. Have you forgotten what MAGA stands for?

Maybe the UK and the USA could both become "great" ?

[Eric Loh]

7 minutes ago, Joe Mcseismic said:

When he says "Brexit Bonanza" he means for the USA. Have you forgotten what MAGA stands for?

The “one for all and all for one” Trump doctrine. 

[CNXexpat]

5 hours ago, BritManToo said:

Doesn't matter how you pick your data, 5% variance doesn't matter, the uncomfortable truth is the USD/Euro/Pound will likely all be trading at the same price in the near future, probably 25 Thai Baht, and the AUD,NZD,CND probably 16 Thai Baht.

 

No point in gloating about how well your currency is doing, they're all getting flushed at the same time.

For the Euro/Pound, they'll both continue to fall until Brexit is over one way or the other.

Learn to economise or leave.

I guess this article is also wrong 

I will never understand why the Brexiteers never open their eyes and see the reality. They are still dreaming of a paradise UK in the future. The GB will fall much more during this year. I promise you. And it will fall MUCH more against the Baht and other currencies also if the Baht will go down. Frame these comment and hang it at your wall. You will see every day of 2019 that I am right.

[BritManToo]

3 minutes ago, CNXexpat said:

I guess this article is also wrong 

 

 

Clearly it's nonsense of the highest order.

And if you had one brain cell in your head, you would have noticed that too.

(I thought it was us Brexiteers that were supposed to be stupid)

https://fxssi.com/top-10-of-the-weakest-world-currencies-in-current-year

 

I'm predicting 25bht/pound, but the rest of the western currencies won't be any better.

Edited July 31, 2019 by BritManToo

[Will E Vormer]

I read one article where a financial analyst was reckoning the baht will get stronger and due to brexit cd reach 25 to the £ by 2022. 

 

Not sure will reach that date without a situation/coup. A heap of foreign currency parking itself in Baht, luxury condos still going up like crazy.. 

But everyone knows the economy is being propped up, Thailand isnt benefiting from relocations from China (vietnam is), the domestic car market is a whopping 17% down,

Tourism is not going to take a worse exchange rate imo.. plus an army chief that wd love to roll them in given the chance..  just needs a something to knock over the first domino imo. 

[CNXexpat]

1 minute ago, BritManToo said:

And if you had one brain cell in your head

I don´t discuss with rude people they only have rudeness as her argument. 

[BritManToo]

1 minute ago, CNXexpat said:

I don´t discuss with rude people they only have rudeness as her argument. 

I'm the same with stupid people.

[totally thaied up]

19 minutes ago, Will E Vormer said:

plus an army chief that wd love to roll them in given the chance..

My wife just tells me the Government here is just going from bad to worse and nothing is getting done after the elections but a lot of shit infighting. This is what I think I will be waiting for us in the future if no one gets their way but even then, I do not think it will effect the Baht much. So much hot money here now. We will see how next high season goes and what numbers we get in. Only maybe if tourist numbers are down heaps, we will see something but until then, we just have to deal with a strong baht and for us Aussies a strong USD. We could see another .08 cents taken off the AUD in the next two years or maybe even more.

Edited July 31, 2019 by totally thaied up

[Will E Vormer]

Yes, will be interesting to see how true the old friendship between PM and new army Chief is. By many accounts, compared to some past ones he's a whole new level of *******

[Angry Dragon]

2 hours ago, Eric Loh said:

I am not an economist but judging from the 22T debt as against the 21T GDP, it doesn’t seem that USA cant afford the debt.  Am I correct to say that? 

I would say it's not comfortable territory, but still affordable and in line with many other OECD countries (UK in particular).  It's the debts of Greece (150% of GDP), Italy (150% of GDP) and especially Japan (250% of GDP) that are worrying

[Angry Dragon]

42 minutes ago, Will E Vormer said:

But everyone knows the economy is being propped up,

How so?  Budget deficit is modest.  Interest rates typical for the region.  Whose doing the propping?  Households?

[Isaan sailor]

1 hour ago, gearbox said:

Your multi-million investments should be worth way more now...what exactly are you complaining about?

Invested in house, farmland, boat, college educations, and pickup truck.  Not investing in anything else at this rate.  Expats now in a holding pattern...

[Jack100]

5 hours ago, Uptooyoo said:

It won't be to long before my currency, the US dollar, dives. $22 trillion in debt and the USA still refuses to turn off the money printing-press. Helicopters continue showering free money from the skies even though unemployment is at record lows and the economy strong.  The current administration is on a mission to devalue in order to help the export sector. The whole world is in a currency war to the bottom. If this continues the last man standing will be Gold.

When the   Obama  left office the debt was 16$ trillion. I wonder what caused  the other  $8 trillion increase in the last 3 years ? Must be all those new roads , bridge repairs and  other improvements .