ChipButty Posted October 19, 2019 Share Posted October 19, 2019 2 minutes ago, SteveK said: On Boris delivers the goods, you could be looking at 41 baht to the pound on Monday morning. Im waiting for it to bounce back up, Happy days Link to comment Share on other sites More sharing options...
chainarong Posted October 19, 2019 Share Posted October 19, 2019 5 hours ago, BritManToo said: Can't see any western countries in better shape. Everyone appears to be drowning in a sea of debt. ............ except me, and that's only because nobody will give me credit. Yep in Oz 44% are in mortgage stress. In West Oz there are 7 applicants for 1 job. Link to comment Share on other sites More sharing options...
SteveK Posted October 19, 2019 Share Posted October 19, 2019 6 minutes ago, ChipButty said: Im waiting for it to bounce back up, Happy days We've gone from 37 to 39.3 baht to the pound just off the back of little more than rumours, once Boris actually signs an agreement (a big if), a lot of the negativity will dissolve, and 41 could prove to be too conservative an estimate. We are talking about UK politicians here though, so it's more than likely that they achieve nothing and the pounds slowly slides back down below 38. Link to comment Share on other sites More sharing options...
ICELANDMAN Posted October 19, 2019 Share Posted October 19, 2019 57 minutes ago, emptypockets said: Not really sure what you are saying but I bet there would be quite a few expats living pension check to pension check. Yes me too not sure, the translator maybe not work well. If Brexit happened today GBP over 50 next year Link to comment Share on other sites More sharing options...
NanLaew Posted October 19, 2019 Share Posted October 19, 2019 6 hours ago, sillyfool said: our world is sick and in desperate need of an enema ...while Pattaya eagerly awaits the administration thereof. Link to comment Share on other sites More sharing options...
Drax Posted October 19, 2019 Share Posted October 19, 2019 This is why I have no credit ????. Just cash bank and brokerage accounts. Then again depending on interest rates loans can be a good investiment... but cmon the average person doesn’t even know what interest is... they don't teach economy at school anywhere I know of. Link to comment Share on other sites More sharing options...
transam Posted October 19, 2019 Share Posted October 19, 2019 2 hours ago, emptypockets said: Not really sure what you are saying but I bet there would be quite a few expats living pension check to pension check. Yeh, me..........???? Link to comment Share on other sites More sharing options...
Barry343 Posted October 19, 2019 Share Posted October 19, 2019 8 hours ago, StayinThailand2much said: Thais (and five-year-olds) simply cannot plan ahead, or manage their money; raise the monthly minimum-income to 50,000 baht and they still won't be able to do it... And banks make it too easy, effectively forcing debt onto people who won't be able to ever repay the money. Your remark shows that you know SFA about the majority of Thai people have you ever spent time in villages where there isn't even a shop to buy groceries, they work the fields or orchards with very little pay as they are allowed to eat for free most do not have electricity they cook on open fires. Link to comment Share on other sites More sharing options...
rohitsuk Posted October 19, 2019 Share Posted October 19, 2019 I never knew a Thai who did not have money problems. All they need to do is live by the very simple rule that my grandmother taught me: Live within your means and what you cannot afford just do without. Not a prayer but Thais are far from being the only ones since many of my fellow Brits are hardly better with their pop culture of: Grab yourself.... The must have.... It's all about you. There really is no hope whatsoever and perhaps there never was. Link to comment Share on other sites More sharing options...
Thian Posted October 19, 2019 Share Posted October 19, 2019 13 hours ago, nong38 said: I was in MaDonalds the other day and was horrified to see that a hamburger had risen from 29 to 35 bts! Yesterday I ancied I would make a tuna/mayo roll so looked at the tins of tuna, they had also gone up from 35/39 to 44/46 bts. These are huge percentage rises and not the .52% claimed the Government. My wife says everything has recently gone up so its not surprising that the ordinary people are finding life tough, they don't get annual pay increases unless they can wangle a promotion do they. They buy things they don't need, usually on long term credit, to show how successful they are to the "Jones's" It has to fall apart, it cannot go on. The banks will go on they cannot lose, if the payments are not met then the banks reclaim, same for suppliers. Foe people who have had exposure to financial planning money is a dangerous thing. 15 years a go a single burger at the Mac was 19....by then the euro was 52.... Yesterday a pizzacompany pizza was suddenly 379 instead of 319 5 months ago. A Zinger burger is still 62 since some years.... Link to comment Share on other sites More sharing options...
Thian Posted October 19, 2019 Share Posted October 19, 2019 5 hours ago, rohitsuk said: I never knew a Thai who did not have money problems. All they need to do is live by the very simple rule that my grandmother taught me: Live within your means and what you cannot afford just do without. Not a prayer but Thais are far from being the only ones since many of my fellow Brits are hardly better with their pop culture of: Grab yourself.... The must have.... It's all about you. There really is no hope whatsoever and perhaps there never was. My wife sure has no money problems and neither do i....but i go to pizzacompany myself to get the 2nd pizza for free...that's an offer i can't refuse and will always do. The staff there hates it because they'll have to sapee inlit to me but hey that's not my problem. Link to comment Share on other sites More sharing options...
khunPer Posted October 19, 2019 Share Posted October 19, 2019 4 hours 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%). For us Scandinavians it's down more than 25 % from the time, when is was a good exchange rate – an income cut of 25 % if you are living from a regular smaller pension can easily make it difficult in the last part of a month. But looking at the bright side of life, this so-called "utterly bad" exchange rate at the moment, is 10 % higher compared to a period about 17 years, and also 10 % higher than when I first visited Thailand in 1987, so in a way we shall be happy...???? Link to comment Share on other sites More sharing options...
quadperfect Posted October 19, 2019 Share Posted October 19, 2019 This is not a thai story its a global story. 60 percent of americans dont have 500.00 in savings. Indonesians live in poverty far more than most thais. Thais have it really good compared to indonesians. Link to comment Share on other sites More sharing options...
Lacessit Posted October 19, 2019 Share Posted October 19, 2019 11 hours ago, PatOngo said: But the banks are announcing record profits? BangkokBank net profits go beyond Bt9 bn in third quarter Well, when you accept deposits and pay 0.5 - 1.5% interest on them, then lend said deposits out at 6-7% interest, you'd have to be awfully dumb to be unprofitable. Link to comment Share on other sites More sharing options...
Doge Posted October 19, 2019 Share Posted October 19, 2019 8 hours ago, Isaanbiker said: 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? - ???????? I teach at an upscale private in BKK. Students waltz in late and deliver bubble tea to classmate. On the top written: b85. Lanvin and Prada carry (book) bags. Starbucks...the bane of humanities existence. Link to comment Share on other sites More sharing options...
HuskerDo Posted October 19, 2019 Share Posted October 19, 2019 11 hours ago, keith101 said: And household debt continues to rise so that these banks can make the record profits as we see all over the world BANKS don't care about their customers just profits . And as a business they are running it to make a profit. If they are overly concerned with the customers they'd be a charity. Banks are like any other business and yes that does mean they look to make profits. Link to comment Share on other sites More sharing options...
pomchop Posted October 19, 2019 Share Posted October 19, 2019 Many people worldwide need to come to terms with knowing the difference between what you need and what you want and not get sucked into keeping up with the neighbors or convinced by slick ads that they "need" the latest phone, car, clothes, etc etc. The reality is that most humans really "need" very little beyond the basics but they want way way beyond their needs as well as their financial resources....and your friendly billions a year banks and credit card companies play right along to allow you to enter the death spiral of debt. Link to comment Share on other sites More sharing options...
gunderhill Posted October 19, 2019 Share Posted October 19, 2019 This is what happens when you have gross stupidity, where people cannot wait and save for something where tomorrow doesn't matter, when everything is "never mind" where we must "look big face" even though we are totally skint and then some, don't worry though it will never be their fault. Link to comment Share on other sites More sharing options...
Soikhaonoiken Posted October 19, 2019 Share Posted October 19, 2019 15 hours ago, PatOngo said: The new iPhone 11 will be a timely distraction! Nah, that phone has been paid for by the farang ???? ???????????? Link to comment Share on other sites More sharing options...
gunderhill Posted October 19, 2019 Share Posted October 19, 2019 9 hours ago, chainarong said: Yep in Oz 44% are in mortgage stress. In West Oz there are 7 applicants for 1 job. Which is even more worrying when many Thais don't have a mortgage, probably the biggest cost for many foreigners in their life. Link to comment Share on other sites More sharing options...
PatOngo Posted October 19, 2019 Share Posted October 19, 2019 4 hours ago, Soikhaonoiken said: Nah, that phone has been paid for by the farang ???? ???????????? How many did YOU pay for? Link to comment Share on other sites More sharing options...
soalbundy Posted October 19, 2019 Share Posted October 19, 2019 20 hours ago, Assurancetourix said: Why worry? Tomorrow does not exist yet ... Truer than you think, smell the roses before they are taken away there is no point in worrying about their loss when it happens. Link to comment Share on other sites More sharing options...
soalbundy Posted October 19, 2019 Share Posted October 19, 2019 14 hours ago, ChipButty said: Im waiting for it to bounce back up, Happy days Methuselah comes to mind Link to comment Share on other sites More sharing options...
Tayaout Posted October 19, 2019 Share Posted October 19, 2019 9 hours ago, Lacessit said: Well, when you accept deposits and pay 0.5 - 1.5% interest on them, then lend said deposits out at 6-7% interest, you'd have to be awfully dumb to be unprofitable. Don't forget that they magically multiply deposit by something like 7X via fractional banking. My economy teacher tried to explain to me that this is not a scam and she failed. Link to comment Share on other sites More sharing options...
Prairieboy Posted October 20, 2019 Share Posted October 20, 2019 22 hours ago, Thian said: Thai also have more expensive cars than Indonesians They need to build more shopping malls and more expensive smart phones to sink the populace deeper in debt. Link to comment Share on other sites More sharing options...
Prairieboy Posted October 20, 2019 Share Posted October 20, 2019 14 hours ago, Drax said: This is why I have no credit ????. Just cash bank and brokerage accounts. Then again depending on interest rates loans can be a good investiment... but cmon the average person doesn’t even know what interest is... they don't teach economy at school anywhere I know of. As exemplified by all those who borrow from loan sharks having no clue that the exorbitant interest charged will keep them in debt forever! Link to comment Share on other sites More sharing options...
PatOngo Posted October 20, 2019 Share Posted October 20, 2019 7 hours ago, gunderhill said: This is what happens when you have gross stupidity, where people cannot wait and save for something where tomorrow doesn't matter, when everything is "never mind" where we must "look big face" even though we are totally skint and then some, don't worry though it will never be their fault. Getting into debt to look cool, is sooo uncool! Link to comment Share on other sites More sharing options...
mauGR1 Posted October 20, 2019 Share Posted October 20, 2019 3 minutes ago, PatOngo said: Getting into debt to look cool, is sooo uncool! Having heard many times about people being in debt with one another, i am afraid to think what might happen if the proverbial Buddhist restraint and the "mai pen rai" attitude go out of fashion. Link to comment Share on other sites More sharing options...
PatOngo Posted October 20, 2019 Share Posted October 20, 2019 1 minute ago, mauGR1 said: Having heard many times about people being in debt with one another, i am afraid to think what might happen if the proverbial Buddhist restraint and the "mai pen rai" attitude go out of fashion. No need to think too much, in the morning only need to think about lunch, in the afternoon think about what's for dinner! Link to comment Share on other sites More sharing options...
mauGR1 Posted October 20, 2019 Share Posted October 20, 2019 7 minutes ago, PatOngo said: No need to think too much, in the morning only need to think about lunch, in the afternoon think about what's for dinner! Sure, that works until there is something to put on the table. Link to comment Share on other sites More sharing options...
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