BHW Posted October 1, 2019 Share Posted October 1, 2019 Reserve bank of Australia reduces the official interest rate to .75%, guess what, AUD / THB drops .15 THB on the news. Link to comment Share on other sites More sharing options...
steven100 Posted October 1, 2019 Share Posted October 1, 2019 doom& gloom for Australia Link to comment Share on other sites More sharing options...
Bluetongue Posted October 1, 2019 Share Posted October 1, 2019 RBA has cut how many times since 2012. Even though I dont doubt their superior intelligence, it is quite obvious that their tactic does not work, ie increase inflation and employment. Yet they keep at it, it's the central banks of developed nations in a racing death spiral to the bottom. Australia still has a way to go. Yet you get out in the real world over there and indeed in Europe and things are pretty much fine I reckon. Who fken know what the agenda really is? Link to comment Share on other sites More sharing options...
BHW Posted October 1, 2019 Author Share Posted October 1, 2019 Now down .23 for the day. Link to comment Share on other sites More sharing options...
Brickbat Posted October 2, 2019 Share Posted October 2, 2019 AUD taking a bath. Anyway, it helps Aust companies stay more competitive . Thailand has started dishing out 1000 b per person to its people to stimulate the economy , but the strong baht will have serious consequences. Link to comment Share on other sites More sharing options...
dinsdale Posted October 2, 2019 Share Posted October 2, 2019 3 yrs ago Aus$50,000 would get somewhere over Bt1,500,000. Now less than a million Bt. That's serious loss of money in anyone's books. Buy a new car for that. Link to comment Share on other sites More sharing options...
4MyEgo Posted October 2, 2019 Share Posted October 2, 2019 5 minutes ago, dinsdale said: 3 yrs ago Aus$50,000 would get somewhere over Bt1,500,000. Now less than a million Bt. That's serious loss of money in anyone's books. Buy a new car for that. I moved here 4 years ago come next month and was getting over 25 baht, according to my calculations that's 1,250,000 baht on $50,000AUD, so that's 250,000 baht out. In real terms I think you could say the AUD has dropped about 20% in the last 3 years or 250,000 baht on my above figure of 1,250,000 which would give you 1 million baht in today's terms as opposed to that your statement, i.e. 33% It's not all doom and gloom, i.e. unless your only income is the pension and if that's the case cutting back one's over indulgence would have to cease until things pick up again in a few years, a fair few years I hesitate to say. If your a stock market investor in the ASX, a small pharmaceutical company I have kept my eye on since a while back returned me a nice earn this morning, although I did sell out a little early, but hey a few thousand (AUD) in the pocket is better than none I say. Oh that company for those with a couple of extra bucks to put away for a rainy day, is MYX or Mayne Pharma, which has a long way to go....to get back up up up, but your own due diligence if your looking to buy in, happy trading ???? Link to comment Share on other sites More sharing options...
Peterw42 Posted October 2, 2019 Share Posted October 2, 2019 10 minutes ago, dinsdale said: 3 yrs ago Aus$50,000 would get somewhere over Bt1,500,000. Now less than a million Bt. That's serious loss of money in anyone's books. Buy a new car for that. Yes, but if you bought a condo 3 years ago with the 50k, its now worth $75,000 in $AU. Link to comment Share on other sites More sharing options...
steven100 Posted October 2, 2019 Share Posted October 2, 2019 17 hours ago, Bluetongue said: RBA has cut how many times since 2012. Even though I dont doubt their superior intelligence, it is quite obvious that their tactic does not work, ie increase inflation and employment. Yet they keep at it, it's the central banks of developed nations in a racing death spiral to the bottom. Australia still has a way to go. Yet you get out in the real world over there and indeed in Europe and things are pretty much fine I reckon. Who fken know what the agenda really is? I would like to add to your good comment. A couple of years back when I was unfortunately in Australia for some time, the RBA and folks were talking about interest rates will be rising soon … bla ..bla ..bla, and I went against what they were all saying and told friends and others that I predict rates would be going down not up, simply because I could see and witnessed the way job interviews, hours offered, red tape, and many other stumbling blocks were hindering and affecting the economy. I suggested the government needs to change it's usual and normally unsuccessful approach to getting the economy on track again, they need to change their methodology and practices as they clearly don't work and haven't worked, they need to go out and borrow as much money as they can at .01% … 10, 20 50 100 billion dollars and then open up a barrage of industries, jobs, factories, roads, infrastructure, hospitals, bridges, forestry, fisheries, building, mining, everything and anything to create 2,3,4 ,5 million jobs. If folks have jobs they have money, they buy groceries who employ more staff and so on down the line. It's not rocket science !! Folks need jobs to live and spend ! Live for today and get the country working. imo. Link to comment Share on other sites More sharing options...
moojar Posted October 2, 2019 Share Posted October 2, 2019 23 minutes ago, dinsdale said: 3 yrs ago Aus$50,000 would get somewhere over Bt1,500,000. Now less than a million Bt. That's serious loss of money in anyone's books. Buy a new car for that. 7 minutes ago, 4MyEgo said: I moved here 4 years ago come next month and was getting over 25 baht, according to my calculations that's 1,250,000 baht on $50,000AUD, so that's 250,000 baht out. In real terms I think you could say the AUD has dropped about 20% in the last 3 years or 250,000 baht on my above figure of 1,250,000 which would give you 1 million baht in today's terms as opposed to that your statement, i.e. 33% If he'd said '5 yrs ago' he would have been pretty well spot on. Read it and weep: https://www.xe.com/currencycharts/?from=AUD&to=THB&view=10Y Link to comment Share on other sites More sharing options...
dinsdale Posted October 2, 2019 Share Posted October 2, 2019 2 minutes ago, moojar said: If he'd said '5 yrs ago' he would have been pretty well spot on. Read it and weep: https://www.xe.com/currencycharts/?from=AUD&to=THB&view=10Y ok bad memory. 5 yrs. 15 yrs ago around 33. Mmmm maybe. Memory? Link to comment Share on other sites More sharing options...
Dogbarker Posted October 2, 2019 Share Posted October 2, 2019 18 hours ago, Bluetongue said: RBA has cut how many times since 2012. Even though I dont doubt their superior intelligence, it is quite obvious that their tactic does not work, ie increase inflation and employment. Yet they keep at it, it's the central banks of developed nations in a racing death spiral to the bottom. Australia still has a way to go. Yet you get out in the real world over there and indeed in Europe and things are pretty much fine I reckon. Who fken know what the agenda really is? Not sure we read the same press?Europe pretty fine.... Doom gloom and despondency there it seems as well ? Link to comment Share on other sites More sharing options...
Laza 45 Posted October 2, 2019 Share Posted October 2, 2019 18 hours ago, Bluetongue said: RBA has cut how many times since 2012. Even though I dont doubt their superior intelligence, it is quite obvious that their tactic does not work, ie increase inflation and employment. Yet they keep at it, it's the central banks of developed nations in a racing death spiral to the bottom. Australia still has a way to go. Yet you get out in the real world over there and indeed in Europe and things are pretty much fine I reckon. Who fken know what the agenda really is? Because the stupid LNP government will do nothing to stimulate the economy.. budget surplus.. big deal.. at the expense of dragging the economy down and making life harder for everyone except the 1%.. Link to comment Share on other sites More sharing options...
owenm Posted October 2, 2019 Share Posted October 2, 2019 Australia is approaching GFC conditions and another 25 PT decrease in the official interest rates yesterday is meant to help stimulate the economy further.. Official rate now at 0.75% and the banks refuse to pass on the full decrease to loan/mortgage customers, then causing RBA to reduce further for any economic benefit to be felt.. Next year the talk is 0% official rate will come.. Unemployment is at 5% but under employment is much higher, where even someone who is only working 10hrs per week is officially classified as employed and need to find multiple jobs just for survival.. Putting more pressure on AUD which has moved from 30thb to 20thb over 5 yrs and now moving south of 20bht to AUD.. And if further turmoil develops with SA/US and Iran with oil supplies, will be felt globally, and China/US trade issues will add to the pressures.. Link to comment Share on other sites More sharing options...
Laza 45 Posted October 2, 2019 Share Posted October 2, 2019 Here is the problem.. https://www.smh.com.au/politics/federal/former-government-minister-offers-explosive-character-assessment-of-scott-morrison-in-new-book-20190630-p522sy.html?fbclid=IwAR2ygZxvKxk5pZ9nLPEsZ1sMVDxVWeJ9QYkjUFqY-JDL14S58CL-XQdEbNQ Link to comment Share on other sites More sharing options...
Suradit69 Posted October 2, 2019 Share Posted October 2, 2019 12 hours ago, BHW said: Now down .23 for the day. Keep us posted if it drops 0.25 baht or more. Maybe we could start collecting tinned goods and packets of Mama noodles for any Australians we know. Link to comment Share on other sites More sharing options...
Straight8 Posted October 2, 2019 Share Posted October 2, 2019 1 hour ago, dinsdale said: 3 yrs ago Aus$50,000 would get somewhere over Bt1,500,000. Now less than a million Bt. That's serious loss of money in anyone's books. Buy a new car for that. And people still think Thailand is cheap??? Currency going down, prices steadily going up. Not anymore, especially for the AUD and Pound, on top of all the crapp you need to go through these days to come here. Link to comment Share on other sites More sharing options...
Wongkitlo Posted October 2, 2019 Share Posted October 2, 2019 doom& gloom for Australia Lucky CountrySent from my SM-J730F using Thailand Forum - Thaivisa mobile app Link to comment Share on other sites More sharing options...
melovethai Posted October 2, 2019 Share Posted October 2, 2019 Just to brighten up your day, the reserve will cut again in November and January if there is no pulse in the economy. Link to comment Share on other sites More sharing options...
Mick501 Posted October 2, 2019 Share Posted October 2, 2019 1 hour ago, Laza 45 said: Here is the problem.. https://www.smh.com.au/politics/federal/former-government-minister-offers-explosive-character-assessment-of-scott-morrison-in-new-book-20190630-p522sy.html?fbclid=IwAR2ygZxvKxk5pZ9nLPEsZ1sMVDxVWeJ9QYkjUFqY-JDL14S58CL-XQdEbNQ This is an article about the leadership challenge, it it not? How is this relevant to the state of the economy? Or are you just a raving lefty as your previous statement suggests, and haven't the least understanding of the workings of economies? Link to comment Share on other sites More sharing options...
4MyEgo Posted October 2, 2019 Share Posted October 2, 2019 1 hour ago, owenm said: And if further turmoil develops with SA/US and Iran with oil supplies, will be felt globally, and China/US trade issues will add to the pressures.. I have over the past few weeks cashed in a lot of my shares as I feel the market is due for a correction as it is back to where it was when the GFC hit, some 11 years ago and there is always a correction every now and again and the way things are out there as you say, which I agree, best to be cashed up and then get in when it goes down again, i.e. no point in watching your $'s go down in a crash, if you can afford to be out of the market, especially when its as cheap to live in Thailand as it is, even a year or two, better safe than sorry, no need to make make make, although it would be good, but there's also the risk side of things, knowing when to get off the merry-go-round is anyone's guess. Link to comment Share on other sites More sharing options...
4MyEgo Posted October 2, 2019 Share Posted October 2, 2019 1 hour ago, Suradit69 said: Keep us posted if it drops 0.25 baht or more. Maybe we could start collecting tinned goods and packets of Mama noodles for any Australians we know. I am flying to Sydney today and am already going to stock up on baked beans Link to comment Share on other sites More sharing options...
4MyEgo Posted October 2, 2019 Share Posted October 2, 2019 52 minutes ago, Straight8 said: And people still think Thailand is cheap??? Currency going down, prices steadily going up. Not anymore, especially for the AUD and Pound, on top of all the crapp you need to go through these days to come here. I did some number crunching for the last 11 months as I prepare to jet out to Sydney with the family today, that's a family of 6, now while you might not believe this, I have calculated that it costs me $545AUD or around 11,000 baht a week to survive here in Thailand. The above said, that includes everything, yes everything, from full private cover for the family, food shopping, schools, electricity, water, holiday's domestically and this trip to Sydney. The figures are based on no mortgage or rent here and owning own car and motorbike, now if that's not cheap enough to raise a family I might as well return to Sydney, where it would cost me double that easily. Thailand is still cheap in my eyes, talking from a family point of view, although I would think it would be much cheaper for a single bloke. Link to comment Share on other sites More sharing options...
1FinickyOne Posted October 2, 2019 Share Posted October 2, 2019 Yes. That's what happens, mostly.. when you make your currency cheaper, it depreciates in value... Link to comment Share on other sites More sharing options...
1FinickyOne Posted October 2, 2019 Share Posted October 2, 2019 7 minutes ago, 4MyEgo said: my wife's smelly fish I am trying my best not to infer or visualize!! Link to comment Share on other sites More sharing options...
xylophone Posted October 2, 2019 Share Posted October 2, 2019 1 hour ago, melovethai said: Just to brighten up your day, the reserve will cut again in November and January if there is no pulse in the economy. This in the hope of stimulating the economy, which to all intents and purposes is damn near dead. There comes a point when the reserve bank has no more ammunition left to fix the economy, with regards to reducing rates, because they are down at extremely low rates as it is and if the economy has not been stimulated by this latest cut, then others will do nothing either. Sad to see the Aussie dollar in that state as I have quite a few Aussie mates here, however whatever happens over the Tasman also happens in NZ and our dollar is currently languishing at around 19 baht to the dollar and has been steadily declining for a while now. I get a small pension from NZ, so that is affected and I also get a small pension from the UK, so that is also affected. Luckily enough I am getting about 3.25% on my term investments and also being paid a dividend of 4.5% on some shares I have, so it is not all doom and gloom in my case, however I should really rein in the spending – – perhaps buy cheaper wine? Link to comment Share on other sites More sharing options...
TPI Posted October 2, 2019 Share Posted October 2, 2019 3 hours ago, Peterw42 said: Yes, but if you bought a condo 3 years ago with the 50k, its now worth $75,000 in $AU. Try selling it? They'll have to pay you in overpriced baht! Renting in VN is looking better all of the time! Link to comment Share on other sites More sharing options...
CygnusX1 Posted October 2, 2019 Share Posted October 2, 2019 1 hour ago, xylophone said: There comes a point when the reserve bank has no more ammunition left to fix the economy, The RBA’s behaving like a lost bush walker who hasn’t been able to resist the temptation to scoff all of his emergency chocolate rations on the first night. The really sad thing is that a few months ago, the property price bubble in Sydney and Melbourne was finally starting to deflate a little, but the RBA’s latest series of rate cuts is now reinflating it. If this was Thailand we were talking about, the conspiracy theorists in this forum would say that the RBA board was protecting the value of the property investments of its rich mates. Link to comment Share on other sites More sharing options...
wavodavo Posted October 2, 2019 Share Posted October 2, 2019 4 hours ago, steven100 said: I would like to add to your good comment. A couple of years back when I was unfortunately in Australia for some time, the RBA and folks were talking about interest rates will be rising soon … bla ..bla ..bla, and I went against what they were all saying and told friends and others that I predict rates would be going down not up, simply because I could see and witnessed the way job interviews, hours offered, red tape, and many other stumbling blocks were hindering and affecting the economy. I suggested the government needs to change it's usual and normally unsuccessful approach to getting the economy on track again, they need to change their methodology and practices as they clearly don't work and haven't worked, they need to go out and borrow as much money as they can at .01% … 10, 20 50 100 billion dollars and then open up a barrage of industries, jobs, factories, roads, infrastructure, hospitals, bridges, forestry, fisheries, building, mining, everything and anything to create 2,3,4 ,5 million jobs. If folks have jobs they have money, they buy groceries who employ more staff and so on down the line. It's not rocket science !! Folks need jobs to live and spend ! Live for today and get the country working. imo. 4 hours ago, steven100 said: I would like to add to your good comment. A couple of years back when I was unfortunately in Australia for some time, the RBA and folks were talking about interest rates will be rising soon … bla ..bla ..bla, and I went against what they were all saying and told friends and others that I predict rates would be going down not up, simply because I could see and witnessed the way job interviews, hours offered, red tape, and many other stumbling blocks were hindering and affecting the economy. I suggested the government needs to change it's usual and normally unsuccessful approach to getting the economy on track again, they need to change their methodology and practices as they clearly don't work and haven't worked, they need to go out and borrow as much money as they can at .01% … 10, 20 50 100 billion dollars and then open up a barrage of industries, jobs, factories, roads, infrastructure, hospitals, bridges, forestry, fisheries, building, mining, everything and anything to create 2,3,4 ,5 million jobs. If folks have jobs they have money, they buy groceries who employ more staff and so on down the line. It's not rocket science !! Folks need jobs to live and spend ! Live for today and get the country working. imo. Well said Stephen . CONGRATULATIONS I have just recommended you for treasurer and Prime Minister of our fine country. Interest rates have never been so low her and they are too slack to have a go !!! . Link to comment Share on other sites More sharing options...
Bluetongue Posted October 2, 2019 Share Posted October 2, 2019 4 hours ago, Dogbarker said: Not sure we read the same press?Europe pretty fine.... Doom gloom and despondency there it seems as well ? In Europe, 8 countries in a month a few weeks ago, very casual observation, everything looked to be humming along to me, a bit depressed in parts of Italy maybe Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.