Thailand heading towards recession as Covid-19 ravages world economy

[Road Warrior]

rather ridiculous  queuing for eggs !!!!  have the chickens got covid 19 /?????

[Snow Leopard]

11 minutes ago, Road Warrior said:

rather ridiculous  queuing for eggs !!!!  have the chickens got covid 19 /?????

No Bird Flu. 

[Caine]

Not to worry everything will be OK here. As we all know the Thais are the most educated and superior beings on the planet.

[CartagenaWarlock]

18 hours ago, Peterw42 said:

It appears the baht is still remaining strong.

If the World wide economy goes in recession, Baht will remain the same as it is now or weaken marginally. Sure no additional money will be added to the foreign exchange reserve but the demand for foreign currency will also be low. Foreign Exchange Reserves in Thailand decreased to 229456.0500 USD Million in February from 230309.48 USD Million in January of 2020, still enough to continue for 6-months with out adversely affecting Baht. 

[wensiensheng]

3 hours ago, tifino said:

 

tying that to the current problems:

 

the local economy will recover - if all Toilet paper and Sanitisers sales are sourced from local manufacture  

 

 

I don’t understand people’s obsession with hoarding toilet paper. Don’t they know what bum guns are for?

[Baerboxer]

18 hours ago, Lacessit said:

I can't think of any economy that won't be heading for recession in the current climate of fear. Nothing unique about Thailand.

 

Aw don't spoil the imagination of all the Thai bashers and doomsayers with a dose of reality!

 

[spidermike007]

The economy here was already teetering. Bloomberg has been reporting that Thai manufacturing has been dropping for some time now. Long before Corona. The decimation of the tourism industry, by this spectacularly irresponsible, and incompetent administration has been happening for the entire six hapless years they have been in control. Their constant racist diatribes, their fake nationalism, a hostile immigration service, and all the constant drivel that emanates from Prayuth, Prawit, Anutin, Pipat, Big Oud, Big Joke, and countless other ranting fools has hurt this nation immeasurably. And now with the "place all of your eggs in the China basket" approach to tourism, they are paying a hefty price. Although I do feel bad for the Thai people, millions of whom will feel a world of hurt over this, in a sense it is their fault, for letting the army wrestle power away. That was a tragic error. Could it have been avoidable? Probably not. Can something be done now? You bet? Millions need to rise up and say enough. Hopefully that will happen. Thailand's future is very bleak with the army in charge. 

 

The other major issue is with the accuracy of the Corona numbers. Officially, Thailand has had one case in the past 24 hours, and about five in the past week to ten days. Is that real? A friend of mine tells me there are hundreds of people trying to get into many hospitals with flu like symptoms, and are waiting up to seven hours or longer, to see a doctor. What is up with that? Where is the truth in all of this? It does appear the government, like the administration in the US, quite possibly is doing everything in their power, to keep the truth from the people and the world. 

[emptypockets]

13 minutes ago, spidermike007 said:

The economy here was already teetering. Bloomberg has been reporting that Thai manufacturing has been dropping for some time now. Long before Corona. The decimation of the tourism industry, by this spectacularly irresponsible, and incompetent administration has been happening for the entire six hapless years they have been in control. Their constant racist diatribes, their fake nationalism, a hostile immigration service, and all the constant drivel that emanates from Prayuth, Prawit, Anutin, Pipat, Big Oud, Big Joke, and countless other ranting fools has hurt this nation immeasurably. And now with the "place all of your eggs in the China basket" approach to tourism, they are paying a hefty price. Although I do feel bad for the Thai people, millions of whom will feel a world of hurt over this, in a sense it is their fault, for letting the army wrestle power away. That was a tragic error. Could it have been avoidable? Probably not. Can something be done now? You bet? Millions need to rise up and say enough. Hopefully that will happen. Thailand's future is very bleak with the army in charge. 

 

The other major issue is with the accuracy of the Corona numbers. Officially, Thailand has had one case in the past 24 hours, and about five in the past week to ten days. Is that real? A friend of mine tells me there are hundreds of people trying to get into many hospitals with flu like symptoms, and are waiting up to seven hours or longer, to see a doctor. What is up with that? Where is the truth in all of this? It does appear the government, like the administration in the US, quite possibly is doing everything in their power, to keep the truth from the people and the world. 

Where have I read that before? 

[Muzzique]

32 minutes ago, wensiensheng said:

I don’t understand people’s obsession with hoarding toilet paper. Don’t they know what bum guns are for?

There was a fake news story that told people that toilet paper manufacturer would stop as they will use it to make face masks. For some reason it never died. Even if it were true I'm not sure why they can't just recycle it after its been used instead. I'm sure no one would mind the odd skid mark on a mask if it saved their lives. You could just say it was a camouflage print.

[rkidlad]

54 minutes ago, Baerboxer said:

 

Aw don't spoil the imagination of all the Thai bashers and doomsayers with a dose of reality!

 

The economy was headed for the toilet already. This virus will only speed that up. Even the most staunch salims are getting critical of Prayut and co. Some are even keen for another coup.

 

 

[billd766]

2 hours ago, hotchilli said:

If it was honest it was heading or in a recession last year, this year it's in dire straits!

These Dire Straits seem to be coping OK.

 

https://www.youtube.com/watch?v=wTP2RUD_cL0

 

[Nong Khai Man]

2 hours ago, Road Warrior said:

rather ridiculous  queuing for eggs !!!!  have the chickens got covid 19 /?????

Maybe Bird Flu is on it's way back....

[NCC1701A]

5 minutes ago, Nong Khai Man said:

But The Baht Didn't Change.....Much ??

yes virtually unchanged.  even during the time period of the halted US futures market and oil crash yesterday.

[Isaan sailor]

Thailand hitched their wagon to the Chinese economy. They’ve hit rut with Wuhan virus. Now the wheels are coming off.

[rumak]

4 hours ago, RichardColeman said:

I predict the following Junta based story.

 

Thailand's 2020 economy beats world' recession.

Thailand continues to beat the world recession with a booming export business and growing tourism whilst the rest of the world continues it's decline. Thai Ministry says this was due to great planning, populace support and amulets.

 

 

photo of a minister lighting incense sticks ......... 

[metisdead]

Some off topic posts and replies have been removed.

[GaryAdriaenssens]

For most ordinary people worldwide it has been a recession all the time.... And not because of some virus!!!

[orchidfan]

"The government plans to hand out Bt2,000 each to low-income people, estimated to be about 14 million."

 

And what exactly can you do with Bt2000?

 

Hong Kong is giving EVERY permanent resident $hkd10,000 (B~40,000) !

[Enzian]

Will the third quarter be the time to buy that Sukhumvit condo I've always wanted?

[saengd]

31 minutes ago, orchidfan said:

"The government plans to hand out Bt2,000 each to low-income people, estimated to be about 14 million."

 

And what exactly can you do with Bt2000?

 

Hong Kong is giving EVERY permanent resident $hkd10,000 (B~40,000) !

GDP per capita in Hong Kong is USD 46k, in Thailand it's 6.5K, a bit of a difference.

[saengd]

4 hours ago, NCC1701A said:

yes virtually unchanged.  even during the time period of the halted US futures market and oil crash yesterday.

Because those things don't influence THB, the current account surplus does. As does the value of USD (which is a safe haven currency in the time of crisis so you'd expect THB to remain strong).

[AmericanSafety]

Recently talked to some friends and multiple people have said that Vientiane & Phnom Penh are absolutely flooded with falangs. It doesn't surprise me much, when a government purposefully targets a retired falang sector with financial obstacles for retirement, they will simply pull and anchor and move elsewhere.  

Edited March 10, 2020 by AmericanSafety
typo

[saengd]

When people can't afford to live here and/or meet the financial requirements for a long stay visa, they move to a cheaper country where the restrictions are less severe. That's a slippery slope, all countries in the region are tightening their visa requirements, Vietnam just did.

[observer90210]

This is what happens when one put's all one's eggs in a Chinese-Korean egg basket.

[Davo369]

2 hours ago, orchidfan said:

"The government plans to hand out Bt2,000 each to low-income people, estimated to be about 14 million."

 

And what exactly can you do with Bt2000?

 

Hong Kong is giving EVERY permanent resident $hkd10,000 (B~40,000) !

Update on that one. The PM and CHANGED  his mind on giving 2000 baht to the low income. 

That's <deleted> me right up

Edited March 10, 2020 by metisdead
Profanity removed.

[HaleySabai]

7 hours ago, wensiensheng said:

I don’t understand people’s obsession with hoarding toilet paper. Don’t they know what bum guns are for?

They don't have them in Western countries,or at least very uncommon due to health standards. Their use is considered unhygienic. I often thought the "bun-gun" was one of the best things about Thailand! ???? 

[thaibeachlovers]

Covid 19 isn't ravaging the world economy- it's the actions of some governments in reaction to it that is causing the problem.

It's also caused by putting too many eggs in one basket ie China. That was always a recipe for disaster. The Thai government should have learned the lesson when all the Russians stopped going to LOS.

Fighting over toilet paper- couldn't make it up.

[thaibeachlovers]

18 minutes ago, HaleySabai said:

They don't have them in Western countries,or at least very uncommon due to health standards. Their use is considered unhygienic. I often thought the "bun-gun" was one of the best things about Thailand! ???? 

Bum guns are not viable in cold countries.

[JMSIII]

On 3/9/2020 at 12:59 AM, webfact said:

During the Asian financial crisis of 1997, the Thai economy sank almost three per cent in 1997 and then sharply contracted by 7.6 per cent in 1998.

 

On 3/9/2020 at 12:59 AM, webfact said:

During the Asian financial crisis in 1997-1998, Thailand faced an economic crisis and growth contraction for four consecutive quarters.

This was done by George Soros shorting the Thai baht with 1 Billion of his dollars.  He has openly bragged about what he did to Thailand and the UK.

 

Soros is still very active in many negative ways around the world.

 

Now is NOT the time to keep making the baht stronger.  Thai people have been hurting since 2014, when their money purchasing power has continually declined...

 

Soros himself has remarked:

“For instance, by selling the Thai baht short in January 1997, the Quantum Fund managed by my investment company sent a market signal that the baht may be overvalued. Had the authorities responded to the depletion of their reserves, the adjustment would have occurred sooner and been less painful. But the authorities allowed their reserves to run down; the break, when it came, was catastrophic."

[saengd]

3 minutes ago, thaibeachlovers said:

Covid 19 isn't ravaging the world economy- it's the actions of some governments in reaction to it that is causing the problem.

It's also caused by putting too many eggs in one basket ie China. That was always a recipe for disaster. The Thai government should have learned the lesson when all the Russians stopped going to LOS.

Fighting over toilet paper- couldn't make it up.

The psychology behind it is fascinating: https://news.sky.com/story/coronavirus-why-are-people-panic-buying-and-why-toilet-paper-11952397