Thai economy suffering worst damage since 1950s, experts say

[Neeranam]

3 minutes ago, Yinn said:

westerners do spend more on alcohol and sex workers

Nonsense. 

 

Where did you get this information from? 

[Neeranam]

6 minutes ago, graemeaylward said:

UK is about to suffer it's worse recession since 1705! This was when the country was gripped by a severe winter for many months. 300+ years since that disaster, 1950 is only 70 years ago! 

 

There was no UK in 1705.

[AussieBob18]

10 minutes ago, Neeranam said:

What exactly are the Thai government doing to single out white tourists? 

You want a list of the ever growing list of impositions - go look in the TV 'visas, residency and work permits'. Compare now to 10 years ago - massive changes - all negative.  You lived/visited long term in Thailand? Then yu should know. Yes it is up to them, but I am allowed to complain and express my thoughts about it.

[Isaan sailor]

43 minutes ago, Deli said:

Retirees are just a minor fraction of the money going around, they are loud only here on TV. The real tourist money is what counts, and with their usual stay of 2 or 3 weeks, they never have / had a visa problem.

Don’t forget, expats have family and friends in their respective home countries.  And if we’re active on TV—you can bet we share our views on other social media.  We come off as experts, due to our expat experiences.  How we feel about living here goes a long way in influencing future potential tourists.

Edited April 17, 2020 by Isaan sailor

[Snow Leopard]

2 hours ago, mistral53 said:

1.) I think you need some work on your math.........  ????

2.) How exactly is this a different wealth transfer compared to what is done in the US or Europe?

 

Sorry my fault. I am not used to dealing with 12 zeros. I dont live in Venezuela. 25500B then. It is not different to the US and Europe. They are stealing money as well. 

[Yinn]

2 minutes ago, Neeranam said:

Nonsense. 

 

Where did you get this information from? 

Buses, full Chinese on the way shopping and tour.

Sex bars, full westerners.

[Neeranam]

1 minute ago, AussieBob18 said:

You want a list of the ever growing list of impositions - go look in the TV 'visas, residency and work permits'. Compare now to 10 years ago - massive changes - all negative.  You lived/visited long term in Thailand? Then yu should know. Yes it is up to them, but I am allowed to complain and express my thoughts about it.

Yes, you are allowed to air your views, but also back them up. Give me one or two examples of singling out white tourists. 

[metisdead]

A post using a video from an unapproved YouTube source has been removed.

 

 

[Yinn]

3 minutes ago, AussieBob18 said:

You want a list of the ever growing list of impositions - go look in the TV 'visas, residency and work permits'. Compare now to 10 years ago - massive changes - all negative.  You lived/visited long term in Thailand? Then yu should know. Yes it is up to them, but I am allowed to complain and express my thoughts about it.

Which foreigner rule is only for white peoples?

 

The rule easier for white people than India, China etc. 

you very lucky,

[rumak]

3 hours ago, lks7689 said:

You farangs know the deal in Thailand yet still you stay there, taking pot shots at Thai incompetence that you know very well will continue past the day you die. By staying you are admitting there's a part of Thailand that you still crave and can't let go. Isn't that hypocritical? 

I think you are spot on with regards to many farangs that stay here long time.  

There is also a large percentage,  however,  that have roots (families or long retirements)

which are not so easy to change.  AND,  though we may not like the negatives that appear

here ........... the alternatives (home country or other destination)  are worse ( for me, anyway)

Stuck between a rock and a hard place for many,  I'm afraid.  

Heck,  rumor has it that even that "all is wonderful" guy somewhere near Chiangrai is trying to

sell .  Now who woulda ever thought that !

[AussieBob18]

4 minutes ago, Neeranam said:

Yes, you are allowed to air your views, but also back them up. Give me one or two examples of singling out white tourists. 

Farangs - I said Farangs.  Meaning non-Thais. You see racism everywhere dont you?

[AussieBob18]

3 minutes ago, Yinn said:

Which foreigner rule is only for white peoples?

The rule easier for white people than India, China etc. 

you very lucky,

Did I say white? If I did that is a typo. I will check back if I did.

[Neeranam]

8 minutes ago, AussieBob18 said:

Farangs - I said Farangs.  Meaning non-Thais. You see racism everywhere dont you?

 

You separate Chinese/Indian/Russian from farang(which means white foreigner).

I just asked for an example of any law that is an imposition against farang, or even Westerner -  still waiting.

 

You said the following:-

 

"So - do you agree with the Thai Govt's focus on Chinese/Indian/Russian tourists and their ever growing impositions against western tourists (Farangs)"

[DrTuner]

No worries, China will buy the bankrupt remains.

[Jack P]

“each Bt10 billion injection from the government will raise GDP by 0.7 percent, said the centre”

People really believe this kind of economic absurdity. The Venezuelan state has gambled everything on print and borrow money to shower on their citizens. Venezuela ought to be the most productive society in the world by now, were the economic fantasy true.

[Iron Tongue]

7 hours ago, webfact said:

Meanwhile the directive to hold GDP at 4-5 percent would depend on the effectiveness of stimulus measures. For example, people could choose to either spend or save their Bt5,000 monthly aid payments while businesses may or may not get help, especially SMEs who are not targeted clients of a bank.

 ..."choose to either to spend or save"... We all know there's only enough for one payment, and only the poorest laborers will likely get this, so why continue to lie as if these folks will be able to bank it?

 

Is there just an inability to tell the truth here, even when trying to admit the truth?

[AussieBob18]

14 minutes ago, Neeranam said:

 

You separate Chinese/Indian/Russian from farang(which means white foreigner).

I just asked for an example of any law that is an imposition against farang, or even Westerner -  still waiting.

 

You said the following:-

 

"So - do you agree with the Thai Govt's focus on Chinese/Indian/Russian tourists and their ever growing impositions against western tourists (Farangs)"

Told you where to look - up to you.  Very busy forum that one. Heath Insurance TM30 you will find so many.

[Neeranam]

1 minute ago, AussieBob18 said:

Told you where to look - up to you.  Very busy forum that one. Heath Insurance TM30 you will find so many.

OK, thanks. White tourists are made get Health insurance and do a TM30(whatever that is).

I didn't know that, not being a tourist.

[RichardColeman]

8 hours ago, webfact said:

with a projected GDP of minus-4 percent and 10 million jobs lost,

I'm no financial whiz kid but losing over 25% of your economies jobs and those still employed on lay off wages and predicting only a -4% GDP drop seems mind blowingly inept 

[Chiang Mai Bill]

8 hours ago, AlexRich said:

Put the baht back to 65 to the £ ... and get rid of fat munter bar girls ... and we’ll be back with a bang ... quite literally!

So, with millions out of work in Europe and the USA, numerous companies bankrupt, personal debt soaring due to enforced furloughs and redundancies, stock markets having plummeted and the predicted return to 2019 figures being 3 years at least, many airlines not surviving (which will increase fares) (and the survivors will want to recoup their billions lost) -- and you think tourists will be back with a bang!

 

You are well and truly deluded!

 

 

[Brickbat]

1 hour ago, AussieBob18 said:

Very true.  But when will the Thai people (non-wealthy) wake up.

Take a look at the Forbes top 10 richest people in Australia - once of the world's better economies and 14th in top GDP.

Then take a look at the Forbes top 10 richest people in Thailand - which economy is 1/3 of Australia.

Unbelievable - the Thai top 10 dwarf the Aussies - it is very very wrong in Thailand.

One day ........... hopefully soon ............... something is going to give.

Whilst they control the education and information, and their culture forbids questions, ( impolite!)  the Rich are well entrenched to stay in control. The general public silently say ‘ govt stupid’. But have no clue! I benefit. Thais are gentle and they smile , even in adversity.  

[Krataiboy]

8 hours ago, Puchaiyank said:

This is going to be a rough ride downhill for the baht...be interesting to see if the hard-asses free up the visa requirements for tourist and retirees...

 

Maybe those "dirty-farang's" money is not so bad after all...

Seriously? Thailand is in far better shape to withstand a recession than the broken economies of the West, already deep in debt and printing digital money at a rate to make your head spin.

[Brunolem]

55 minutes ago, AussieBob18 said:

I learned something today - thanks.

I always thought farang was foreigner - wherever they are from.

What you call foreigner from Africa or Fiji or Brazil?

Farang comes from Farangset (French) who were among the first to establish state relations with Thailand, at the time of Louis XIV.

 

By extension, all caucasian people were later called "farang".

 

This word doesn't include other Asians (Japanese, Chinese...) or Africans.

 

 

 

 

[lks7689]

54 minutes ago, AussieBob18 said:

You should have stayed asleep.

I dont live in Thailand at the moment - used to - but now in Aust waiting for the pension (must be here to get it).

TV and all Forums are the opportunity for people to exchange their ideas and thoughts - that is what they are for.

You have every right to complain about Farangs just as I do to complain about the Thai Govt and their decisions.

And we all realise that we have nil chance of changing things - just as you have no chance changing me/us.

 

So - do you agree with the Thai Govt's focus on Chinese/Indian/Russian tourists and their ever growing impositions against western tourists (Farangs) - especially the 'long stay' ones?

Let's just say I had too much sleep the past two weeks......Do I agree with Thailand's policy of giving farangs the cold shoulder? No. Everyone should be welcomed whichever country they travel to in my option. But do I expect myself, an Asian, to be made to feel entirely comfortable in Australia or Canada, two countries likely I will bring up my children in? No. All I can do is adapt, or I invest my time and money elsewhere. If you don't feel appreciated, why stay and grumble when you could be happier elsewhere? Especially for pensioners, how much more time can you waste being unappreciated?

[Percy P]

8 hours ago, ChipButty said:

Put the Baht back to 65 to the £ and we will all be over the moon

The Thai government I'm sure would like to see £ back to 65/£ but that can not be so. 

Thai Government do not fix the rate of exchange, it's all relative to the value of a Countries currency value and the Pound Stirling has very little value against the Baht ,hence a low exchange rate. Complain to the UK treasury.

At least the £ is holding up since UK pulled out a Euro.

[Brunolem]

26 minutes ago, RichardColeman said:

I'm no financial whiz kid but losing over 25% of your economies jobs and those still employed on lay off wages and predicting only a -4% GDP drop seems mind blowingly inept 

And still they are more pessimistic than the IMF who predicts zero growth for Asia, but no contraction.

 

Anyway, it is wise policy to begin with not to bad numbers, and adjust them step by step later on.

 

Don't forget that a large part of the economy is based on confidence.

 

If you tell people now that a 20% or more contraction is coming, they will run for the exits, stop consuming, and the crash will become a self fulfilling prophecy.

 

[Percy P]

8 hours ago, Puchaiyank said:

This is going to be a rough ride downhill for the baht...be interesting to see if the hard-asses free up the visa requirements for tourist and retirees...

 

Maybe those "dirty-farang's" money is not so bad after all...

The Baht is in good shape due to the Foreign Reserve Account. It's other currencies that have lost its value against the Baht. £, Euro, Aus Dollar. Malaysian Riggit, Singapore Roller, ect. I hope the Thai community will benefit from it.

Edited April 17, 2020 by Percy P

[Brunolem]

17 minutes ago, Krataiboy said:

Seriously? Thailand is in far better shape to withstand a recession than the broken economies of the West, already deep in debt and printing digital money at a rate to make your head spin.

Exactly, plus Thailand has a low public debt, around 60% of GDP, compared with most Western countries who flirt with 100%.

 

So Thailand has a lot of margin for monetary/budget deficit action without really harming its credit status.

[Henryford]

4 hours ago, kevin612 said:

Thailand does not have a financial crisis since 1997. It’s been too long. I would like to see baht drops to 60too.

Maybe you haven't heard but the UK/US are borrowing massive amounts and will be in recession for years to come. Thailand will be OK because they don't give out billions to the unwashed plebs.

[Percy P]

13 minutes ago, Brunolem said:

And still they are more pessimistic than the IMF who predicts zero growth for Asia, but no contraction.

 

Anyway, it is wise policy to begin with not to bad numbers, and adjust them step by step later on.

 

Don't forget that a large part of the economy is based on confidence.

 

If you tell people now that a 20% or more contraction is coming, they will run for the exits, stop consuming, and the crash will become a self fulfilling prophecy.

 

The success of the Thai Economy  benefits Thais and none Thais. let's hope they will manage which I'm sure they will.