15 hours ago, snoop1130 said:

People aged between 26-30 years old are most likely to get into debt as a result of unmanageable home loans.

No, they are most likely to get into debt buying everything they don't need rather than pay the mortgage.

 

15 hours ago, Cadbury said:

Household debt doesn't seem to worry fat cat politicians who are trying desperately to pump prime the flagging economy with stimulus packages which include easy access government bank loans to workers, farmers and small business.

The message is clear.......borrow, borrow, borrow........spend, spend, spend! 

borrow........spend, and you will be our slave, we will take back your home or your child will repay the debt

18 minutes ago, soalbundy said:

but think of the assets they can seize, most Thais have some paddy back 'home' in the villages

 

almost all of these civil servants, mostly young, do not own any land;

it belongs to their parents or siblings who have remained in the countryside and continue the farming work of their ancestors.

11 hours ago, rkidlad said:

Was at a my local central last Saturday. Seemed as if every man and his dog was queuing outside a phone shop or carrying a small bag which was a symbol they’d just bought one. 

The horror of the peasants having a good phone too.. maybe one better as a foreigner. I am sure you were shaking your head all the time. 

1 hour ago, Hayduke said:

 

...a functioning brain?

They forgot to mention that thais are probably the #1 in the world who also owe money from each other. In case things really go bad, we might actually see a civil war cookin..

1 hour ago, soalbundy said:

I have a mobile that you can use to telephone people

I don't even have that. The arguments I have had with airport security in various countries who simply cannot fathom that I don't own a mobile phone...

Edited October 23, 20196 yr by baboon

13 hours ago, nickstav said:

Maybe it would be prudent of the banks or private lenders to actually check on the buyers ability to repay what they will owe beforehand, which might save the poor consumer from getting into a situation that is drowning them. Not that I for a moment think that banks or private lenders have a heart, but bad debts are bad business for them too.

The phrase 'Subprime Loans' comes to mind, but the Thais in high office won't have heard of these and even if they did they would deny it could happen in Thailand. We know everything is their motto!

18 minutes ago, baboon said:

I don't even have that. The arguments I have had with airport security in various countries who simply cannot fathom that I don't own a mobile phone...

Hard indeed to fathom for me too. But to each his or her own. I lose money if I dont have a phone. 

1 hour ago, robblok said:

The horror of the peasants having a good phone too.. maybe one better as a foreigner. I am sure you were shaking your head all the time. 

That’s an amazing narrative you’ve just made up in your head. 
 

Be patient and learn when to pick your fights. Otherwise you just look childish. 

Hi-so with worthless masters degree who puts a deposit on a car they can't afford and keeps the red plate on for  months to show there hi-so status, show show show its not just caused from real estate its  in the upbringing  , if you want it buy it if you cant keep up the payments they will collect it

2 hours ago, baboon said:

I don't even have that. The arguments I have had with airport security in various countries who simply cannot fathom that I don't own a mobile phone...

I resisted for years but eventually it became needed for work etc.

Technically I still don't own one.

When I finished my last contract the boss said keep the laptop and phone and my wife just bought me a SIM to use in the phone.

Not only Thai society, the young people want, want, want !!!

The young man in my extended family had his chin on his waist for 2 weeks when the finance people turned down is hire purchase for a new car    Thank Heavens

It is very typical for a female with a regular 15,000 b a month job at least the ones I have met in Bangkok.

Rent 4,000 b. ( Oh Nuts type area)

Car 6 to 7 year loan 7,000 b.

The rest for food and making minimum payments on their high numerous CC balances.

 

But hey hey, this could all be positive news depending on who you are and your goals.

 

Last report I read there are over one million profiles and climbing, on Thai dating sites.

 

Ever wonder why??

Edited October 23, 20196 yr by bkk6060

21 hours ago, nickstav said:

Maybe it would be prudent of the banks or private lenders to actually check on the buyers ability to repay what they will owe beforehand, which might save the poor consumer from getting into a situation that is drowning them. Not that I for a moment think that banks or private lenders have a heart, but bad debts are bad business for them too.

Welcome to Thailand ... HUB of Non-Performing-Loans 

IMF are now starting to make some noises on this one.

 

With the madness of social media used to push to consumerism....or with the global cheating of major retail electronic firms who program or design their devices to last only for a specific period....household debt on the rise is a global phenomena that will again lead to a global financial crash when people will be unable to payback............when this happens, the world should force the major big players like Apple, FB, Amazon etc. to payback the global debt.

Edited October 23, 20196 yr by observer90210

53 minutes ago, observer90210 said:

household debt on the rise is a global phenomena that will again lead to a global financial crash when people will be unable to payback............when this happens, the world should force the major big players like Apple, FB, Amazon etc. to payback the global debt.

Agree on the principle, but it's more likely that we'll have desperate people fighting in the streets.

Time for another coup, me thinks. Reboot. Start again.

19 hours ago, DrTuner said:

And where would you buy such instruments that would let you make a covered short? Interesting idea.

you gotta know guys ok.

On 10/22/2019 at 7:31 PM, PatOngo said:

 

How many households do you reckon you'll buy?

you buy the debt,then when a rise occurs you sell debt wrapped in cods,these are worthless but banks like them as they think they can turn them,course they can't,look i have not got half my life to explain this, but i have used cods before,and very tasty too.