Over 1,300 factories were up for sale or out of business in first 10 months of 2019

[happy chappie]

14 hours ago, Perhaps2more said:

Where is your Teerak after the financial money tsunami ?

 

We are still together and very happy.ive spent all my savings on property and have 3-4 farang tenants permenant renting.also have a bar/restaurant which is doing fine.i now have very small money but happy.i find that if you have money in the bank you will be pestered for gold,money for sick buffalo sort of thing but if you've not got,you've not got it.i see the farang with pensions are the worst off as they've got a life sentence of handing out cash each month.its best to be short on cash in Thailand.when I had money I was miserable.

looking at the future it doesn't look too good for Thailand due to its mismanagement and the baht killing off spending and it effects all of us not just farang.

[yogi100]

3 hours ago, happy chappie said:

We are still together and very happy.ive spent all my savings on property and have 3-4 farang tenants permenant renting.also have a bar/restaurant which is doing fine.i now have very small money but happy.i find that if you have money in the bank you will be pestered for gold,money for sick buffalo sort of thing but if you've not got,you've not got it.i see the farang with pensions are the worst off as they've got a life sentence of handing out cash each month.its best to be short on cash in Thailand.when I had money I was miserable.

looking at the future it doesn't look too good for Thailand due to its mismanagement and the baht killing off spending and it effects all of us not just farang.

Unless the woman in your life puts as much into the pot as you do it's best never to let her know anything about your finances be they savings, pensions or investments. That goes for women the world over.

 

However most falangs are much older than their Thai wives or fancy women so if they know how you're fixed you'll be forever forking out to gain their affection. That's no way to have to live.

[Andrew65]

9 hours ago, yogi100 said:

There are 8.7 million people of working age (16 - 65) in the UK who are classed as economically inactive.

 

They are not included in the unemployment statistics. However we don't get to hear much about them. As they are nearly all drawing some sort of benefit and not paying any income tax they are bound to be a drain on Britain's economy.

 

Any change of government would be unlikely to be able to do anything about that

 

Thailand does not have this problem but it's now common throughout the Western world.

 

 

 

 

After 20 years of living in Bangkok I moved back to the UK last year.

 

The last time that I had regular employment was in 2014, I'd spent many years making very good money, tax free. I've been economically inactive since then. 5 years, living on my savings, which I'd originally saved for my retirement. Could've stayed in Thailand for a few more years, but my financial resources would've been dwindling by then, would've been a nightmare moving back to the UK with little or no money.

I've had short periods of employment truck driving, but have an interview for a job on Friday at a healthcare company. At 54 I still have 13 years until retirement age.

[JGV]

I agree the strong baht is a big factor but also the powers that be are all ego centric older men who have an arrogance that continues to say we know best with very little economic intelligence other than to feather their own nest - the result is they grow richer buying cheap dollars and businesses drown in debt, stock they can;t sell and a nationalism that denies realty and emphasises Thainess - oh yes corruption the no 1 priority

[KSwr7UDHyn]

On 11/12/2019 at 1:09 PM, findlay13 said:

I doubt it.The first time I saw the "thai way"was about 20 years ago in Pattaya.they was a big slowdown of tourists,so what happened? All the bar prices went up, to screw the fewer customers more.The logic defied me .I always thought more bums on seats lower the prices and  sell more but that's not the "Thai way" 

I have heard this story a gazillion times and I've yet to reconcile the fact that a large number of bars are owned by foreigners.  So, "the Thai way" isn't just the Thai way.  It seems to be the farang way too. 

 

And wouldn't the farang bar owner that did it "the right way" and lowered their prices totally crush all of their competition?  Why aren't these farang bar owners taking over? 

[HaleySabai]

On 11/11/2019 at 8:41 PM, yogi100 said:

I got talked into buying a girl a bottle of San Miguel beer last night at a cost of 140 baht (nearly four quid in UK money) That's in an open air beer bar! I won't be doing that again in a hurry.

 

That same beer in the same bar was 130 baht the last time I was in Pattaya in July. It's now the start of high season and that bar is not much busier than it was back then.

 

Punters can't afford these prices any more than foreign importers can afford to buy Thai exports at such inflated prices.

That beer is subject to new import tax. My fav beer at 7/11,Budwiser and Kopper have both increased to 63b from 55b. Not the end of the world but is starting to get a tad ridiculous.

 

As has been said here before....the best way to NOT grow your economy is to put the military in charge. Enough said.

[Yadon Toploy]

On 11/12/2019 at 10:15 AM, Tayaout said:

You sound like the half empty type. Instead of roadkill, I say auto parts manufacturer stimulus. 

The biggest auto parts manufacturer has just shuttered their factory in Laem Chabang. Hiatus with staff give a 75% payoff.

 

Mitsu have followed suit with many others. 

 

There's no stimulus at the moment. 

[Tayaout]

1 minute ago, Yadon Toploy said:

The biggest auto parts manufacturer has just shuttered their factory in Laem Chabang. Hiatus with staff give a 75% payoff.

 

Mitsu have followed suit with many others. 

 

There's no stimulus at the moment. 

Yes there is. Check the stats about road accidents per day. These parts needs to be replaced. Lowering road accidents would actually be detrimental to the economy. 

[JAFO]

On 11/11/2019 at 7:51 PM, Duck J Butters said:

Having Chinese companies is not necessarily a good thing. For example, Alibaba just got approved to build a giant warehouse in Thailand that is bigger than the entire island of Phuket. Alibaba will make 95% of Thai businesses obsolete within a decade. Alibaba does absolutely nothing to help the Thai economy

^ What I have been saying to others. Ever look at the bottom of tourist souvenirs sold here...Made in China. Oh the irony, the Chinese come over here, tour around and buy things thinking they are hand made Thai items only to be made in the country they hail from.  Lazada sells stuff cheap and much of it is coming from overseas. Local businesses will suffer significantly. Yes the baht will get stronger but it will come with a steep price. 

 

The "Proposed" WHA Eastern Seaboard expansion area is going to be a big bust. The reason is lack of infrastructure to support it. US, UK, Chinese, Japanese companies moving and setting up factories are already disappointed on the travel out to the middle of nowhere coupled with a 2 hour ride from the airport. 

 

 

[Perhaps2more]

23 hours ago, geisha said:

I live in the  south of France near Cannes, and there’s not much shortage of money here. Yes, retailers are suffering because of the internet buying . When I see the cars the Thai s are driving, the iPhones and other Apple products, the restaurants quite full of Thai families and lots of ladies, I ask myself where is all that money coming from ? I’m quite sure that unless you have a very good high paying job, or you’re earning a high income on the streets / in bars, you cannot afford all these luxury goods. My friends don’t spend money like that ! Money earned , generally, in Europe, gets saved towards buying your own home . I go once a month to a beauty parlour/ nail shop in central Festival, and it s expensive , but all the clients seem to be Thai, and you often have to queue . I don’t think thailand can carry on like this for long. I remember 2008 well, I was in Phuket  , and houses were going for peanuts, cars and pick ups everywhere for sale . It can happen again, and the government will not help them !

Thailand's household debt in % to GDP rose from 52 % in 2007 to 79 % in 2018. The lenders are getting much richer but most people will hit a brick wall at some point.

[KKr]

On 11/12/2019 at 1:09 PM, findlay13 said:

to screw the fewer customers more

so what are you complaining about ?

[metisdead]

Some off topic posts and the replies have been removed. 

[Huckenfell]

I noticed  that 2 restaurant/coffee shops  and 1 shop closed down in Samui Big C today.

[Huckenfell]

Just have to wait until the Higher price resorts start to fill with  quality tourists i  suppose.