Financial Crisis Beginning in Thailand

[cmsally]

So essentially Thailand owes a higher ratio of debt to itself?

Hardly a surprise when you have one of the biggest disparities of wealth on the planet.

As I see it basically the past years have seen a massive concentration of wealth and assets in very few hands (more so than in the past). Liken it to a huge water spout sucking up the water and objects within its path. It has now come to the stage where we have a "full and bloated water spout" hanging above a virtual desert. The water spout now has to work out how to survive in these unchartered conditions. The people left in the desert survive on a few drops of moisture still coming down to the desert (Chim Shop ...whatsit). That as I see it , represents Thailand at present.

[saengd]

"So essentially Thailand owes a higher ratio of debt to itself?"

 

Looking solely at the issue of risk of default, yes, it's an almost enviable position to be in, self financing, low cost financing, control over the lender, no external influence, what's not to like from a borrowers perspective. But even despite those things, borrowing levels remain low, right there is two very positive messages when assessing the strength of the economy, the country has a readily available source of funding locally, at low risk and at low rates, (and) but they chose not to borrow period.

 

The rest of it about the wealth being concentrated is of course true, but that's a very different issue to that being discussed, financial crisis.

[Banana7]

Watch for the October manufacturing output numbers due to be published on Wednesday. They'll be down significantly, based on year over year. A Reuters poll estimates they'll be down 4.95%. September's drop was 4.7%.

 

Industrial goods accounts for 80% of the Thailand's exports which declined 4.54% in October 2019 from October 2018.

 

As I said in the original post, lots of people are returning home to small villages from the big cities because of a lack of jobs.

 

Further evidence of job losses is in this post:

 

Edited November 26, 2019 by Banana7

[cmsally]

40 minutes ago, Banana7 said:

Watch for the October manufacturing output numbers due to be published on Wednesday. They'll be down significantly, based on year over year. A Reuters poll estimates they'll be down 4.95%. September's drop was 4.7%.

 

Industrial goods accounts for 80% of the Thailand's exports which declined 4.54% in October 2019 from October 2018.

 

As I said in the original post, lots of people are returning home to small villages from the big cities because of a lack of jobs.

 

Further evidence of job losses is in this post:

 

Correct me if I am wrong but it's not often you see "employment rate falls" rather than "unemployment rate rises". Looks like the spin doctors have been at work.

[Banana7]

Below is another news article confirming the financial crisis unfolding in Thailand.

 

 

[Banana7]

On 11/16/2019 at 1:40 AM, CNXexpat said:

I think you don´t know what a financial crisis is. It has nothing to do with some empty hotels. In Chiang Mai are so many tourists. The streets are full. 

Well the streets in Pattaya bare at night. Here is a recent article, with comments from numerous Thais.

 

This weekend is an exception for Pattaya, things are very busy, only because of the International Fireworks Festival.

 

 

[spidermike007]

For small minds, completely lacking in creative juice, the answer is always higher taxes, more duty, more restrictions on imports and more luxury tax. The exact opposite of the way a vibrant and progressive economy and nation works. Woe is Thailand. They are truly in for a world of hurt. Just give it a few more years of truly regressive policy. 

 

[Chazar]

On 11/17/2019 at 5:55 PM, saengd said:

I'm seriously happy to debate Thai economics with you but you have to bring some facts to the table rather than just your ideas that you try to pass off as fact. If you have an idea that the Thai economy is about to fall off a cliff, try supporting that notion with some hard evidence, don't tell us that all the numbers are false and can't be relied upon, if they are false then find the hole in them and expose it. I'm sorry if you find my comments denigrating, there are things in this world that neither one of us knows and I'm happy to admit I don't know when I don't. But I'm 70 years old and I've lived through a number of financial crisis plus I've worked in finance/banking related fields all my career plus I've made a point of studying Thai economics for the past fifteen years, I am not about to suffer fools gladly on this subject. 

Dont worry these  days "feelings" take precedence over facts.................what a screwed up world eh

[Chazar]

25 minutes ago, Banana7 said:

Well the streets in Pattaya bare at night. Here is a recent article, with comments from numerous Thais.

 

This weekend is an exception for Pattaya, things are very busy, only because of the International Fireworks Festival.

 

 

Christ, If I was 6 yrs  old I might go

[Banana7]

Another story about the slowing economy in Thailand

 

[BestB]

4 minutes ago, Banana7 said:

Another story about the slowing economy in Thailand

 

All fake news . Big P and Somkid already said , no problems at all just little less ????????????