1 hour ago, rooster59 said:

Thais are short of money - and it's worse than Indonesia!

And the Thais also beat Indonesia with the highest household debt to GDP ratio in Asia.

Thailand 3rd at 68.9

Indonesia 9th at 16.9

Congratulations Thailand! 

Plus the new budget contains stimulus measures which includes easy access to government bank loans for workers, farmers and small business. That might lift Thailand to the top of the League ladder in Asian domestic debt.

https://tradingeconomics.com/country-list/households-debt-to-gdp?continent=asia

I am used to neighbours borrowing money from me, but when the village boss and the Puyai Ban borrow from me I know times are bad. 

31 minutes ago, Assurancetourix said:

You can take away from that 40% the millions of farmers who make two and sometimes even three crops of rice in the year; Central plain of Chai Praya and all those lucky enough to have their rice fields along a river or at the edge of a lake.
These farmers are very far from being poor;
on the other hand, the other millions of peasants in Issan who only harvest once a year at the whim of the very rare rains that year 2019 (except in the province of Ubon where everything is drowned), those are poor but they are so because they have abandoned the way of making their ancestors;
we no longer see buffaloes working in the rice fields;
in their place, you can see motor tillers and even more and more Kubota tractors or other international brands.
But these oil machines are not free and the diesel to make them work, either;
you have to buy them, most often on credit ....
and they are in a bad state when the credit is over ...
Vicious circle..when one or a few buffaloes would have done exactly the same job for a few tufts of grass ...
and the countryman could, in addition, recover his excrement to make manure and thus natural fertilizer.

of course no more buffalo.

it's the cycle of life.

 

buffalo gets sick.

falang buys new buffalo.

family gets new car.

car gets repossessed.

buffalo gets sick...........

 

changes at immigration have disrupted the natural cycle.

 

 

1 hour ago, PatOngo said:

But the banks are announcing record profits?

 

BangkokBank net profits go beyond Bt9 bn in third quarter

And the poorer workers have to pay 30 baht to sent 1.000 baht to parents because of a fictitious Chang Wat digital border. 

28 minutes ago, Kelsall said:

Hmmm... more Thai women in need of money. Good to know. ????

But logic tells me that it would be  the not so beautiful ones ….????????????

1 hour ago, BritManToo said:

only because nobody will give me credit.

Funny comment ????

It´s much truth in it, though. If one do not turn to credit, one will also learn to deal with the budget existing. If not turning to credit that also leads to engage in harder work to create a stable and good economic situation for the future and old age.

33 minutes ago, david555 said:

But logic tells me that it would be  the not so beautiful ones ….????????????

All cats are grey in the dark, pit fai.

https://www.theguardian.com/money/2018/jan/25/uk-workers-chronically-broke-study-economic-insecurity

 

the above says 7 out of 10 workers are in this mess and the one below states 50% of Canadians live pay to pay.

https://www.cbc.ca/news/business/payroll-salary-survey-1.4276782

 

hardly a 'Thai' problem lol

Many Thais operate on wishful thinking. Borrow now, "don't think so much" about stuff like practical issues with repayments and interest burden.

 

- Mother buying a 800 k Mazda car for her young daughter in Bangkok. (No need for a car, and when the roads are congested, take the train).

- Mother choosing a 50 k washing machine over a SAMSUNG at 23% the price (and with a years' long warranty on the motor).

- Mother buying the latest Apple quipment for her lkids who aren't earning yet. 

 

In a few years, Mother will get kicked out of her free government house at a hospital. Then what?!?

 

The issue cannot be overestimated!

2 hours ago, RichardColeman said:

I don;t have a great income - enough for extension based on marriage now, but that's about it. My wife, me and our child live a relatively OK life.

 

BUT we don't currently own a 3 motorbikes, a pick-up, an estate, a 65 inch TV, or both have the latest Apple phones, and we certainly don;t live on pizza, KFC and McDonalds deliveries four times a week, all of which our Thai neighbours on about a 1/2 of our income seem to be able to do.

 

Mind you, there seems to be a high turnover of Thai neighbours now - so that may answer some of it 

Many of my students have expensive iPhones while I'm okay with my old and slow Samsung. 

 

  Unfortunately, do too many people buy expensive stuff on monthly installments without even knowing that they can't afford it.

 

  If I don't have money, I've gotta live cheap until I get my salary.

 

Is that too difficult to understand? - ????‍????

 

 

 

Thais want to show off their luxuries, but there are unbearable loans behind them.

15 minutes ago, onlycw said:

Many Thais operate on wishful thinking. Borrow now, "don't think so much" about stuff like practical issues with repayments and interest burden.

 

- Mother buying a 800 k Mazda car for her young daughter in Bangkok. (No need for a car, and when the roads are congested, take the train).

- Mother choosing a 50 k washing machine over a SAMSUNG at 23% the price (and with a years' long warranty on the motor).

- Mother buying the latest Apple quipment for her lkids who aren't earning yet. 

 

In a few years, Mother will get kicked out of her free government house at a hospital. Then what?!?

 

The issue cannot be overestimated!

Near same my ex wife    

 

I know someone bought the most expensive Samsung phone on the drip,

A worldwide recession already has begun. What happens in a nation where there is this sort of economic desperation and no social safety net to speak of?  My guess is that you don't want to be a Walking ATM when SHTF.

Thailand need more Chinese tourists and not cheap charlies

2 minutes ago, EricTh said:

Thailand need more Chinese tourists and not cheap charlies

I thought they were one and the same....????

4 hours ago, rooster59 said:

Thais are short of money

 

4 hours ago, rooster59 said:

Sanook called the findings a worry. 

 

The powers that be didn't give a rat's toss!

Wonder how many retired Thaivisa members are in a similar situation...????

Once we were with all company staff on a trip and had some games on the bus. Who can show the most credit cards? I was sure I was going to win as I had my personal and company cards all together maybe 5-6. But I remember I even did not make the top 3. The winner had 9 and she was working in the administration..


Sent from my iPhone using Thaivisa Connect

Thailand will soon be a cashless society and a lot of poor people won't have a pot to p**s in.

 

Hurray for the Junta 

Hurray for Prayuth

38 minutes ago, khunPer said:

Wonder how many retired Thaivisa members are in a similar situation...????

Nobody because the bank Thai not rent money to foreigners retired and if you not rent money you be rich man. This is the majority the peoples around the world not only Thai peoples don't will know

Edited October 19, 20196 yr by ICELANDMAN

10 minutes ago, ICELANDMAN said:

Nobody because the bank Thai not rent money to foreigners retired and if you not rent money you be rich man. This is the majority the peoples around the world not only Thai peoples don't will know

Not really sure what you are saying but I bet there would be quite a few expats living pension check to pension check.

10 minutes ago, ICELANDMAN said:

45 minutes ago, khunPer said:

Wonder how many retired Thaivisa members are in a similar situation...????

Nobody because the bank Thai not rent money to foreigners retired and if you not rent money you be rich man. This is the majority the peoples around the world not only Thai peoples don't will know

You don't need to borrow money, to be short of money during the last half of the month; money exchange rates can easily cause that, just ask some of the long staying Brits...????

3 hours ago, wgdanson said:

Expats BUYING land?

Through a company that they control it is quite possible.

It is not the expat who owns the land but the society and that's the big difference.

51 minutes ago, luk AJ said:

Once we were with all company staff on a trip and had some games on the bus. Who can show the most credit cards? I was sure I was going to win as I had my personal and company cards all together maybe 5-6. But I remember I even did not make the top 3. The winner had 9 and she was working in the administration..


Sent from my iPhone using Thaivisa Connect

I think id be checking her account when you got back

4 minutes ago, Assurancetourix said:

Through a company that they control it is quite possible.

It is not the expat who owns the land but the society and that's the big difference.

The expat stumps up 100% of the money but can never own it either outright or through a company. If the sole purpose of the company is to buy land then it is illegal.

 

However, you keep your happy thoughts.

1 minute ago, emptypockets said:

If the sole purpose of the company is to buy land then it is illegal.

 

It is right ;

 

it's usually for profit; to set up an agricultural or industrial enterprise ..
I am not talking about those who try to cross the yellow line and who, of course, will be caught by the patrol.
I have a friend who has built a company that has hundreds of rai;
these rays are leased to Thai farmers who grow maize, sugar cane or other agricultural products.

9 minutes ago, Assurancetourix said:

It is right ;

 

it's usually for profit; to set up an agricultural or industrial enterprise ..
I am not talking about those who try to cross the yellow line and who, of course, will be caught by the patrol.
I have a friend who has built a company that has hundreds of rai;
these rays are leased to Thai farmers who grow maize, sugar cane or other agricultural products.

Don't disagree with what you are saying. Sounds like your friend has a legitimate business.

 

However we often hear people on this forum talk about how easy it is to buy a house and land using the company route, and it can be. It can also fall down like a house of cards if/when they get found out. I get the feeling there will be more of these company 'scams' failing in the near future and being reported on this forum. The last one in Phuket was very costly for they guy concerned if I recall correctly.

39 minutes ago, khunPer said:

You don't need to borrow money, to be short of money during the last half of the month; money exchange rates can easily cause that, just ask some of the long staying Brits...????

As a Brit I can clearly state my currency losses (-22%) aren't any worse than the Europeans.

And considerably less than the Canuks, Aussies and Kiwis (-30%).

Edited October 19, 20196 yr by BritManToo

3 minutes ago, BritManToo said:

As a Brit I can clearly state my currency losses (-22%) aren't any worse than the Europeans.

And considerably less than the Canuks, Aussies and Kiwis (-30%).

If Boris delivers the goods, you could be looking at 41 baht to the pound on Monday morning.

Edited October 19, 20196 yr by SteveK