What About The Average Workign Thai

[ray23]

Very little I would think:

The Real Thai Economy, for the working class:

We debate the baht all the time me included and the effects it had on Thailand and the effect our future life .I had a very humbling experience yesterday. Wife’s brother is visiting for the first time since our marriage of four years and eight years since they have seen each other. The guy wasn’t real high on the list of people that I wanted to hang out with. As soon and I meant the first day my wife and I met, he was on the phone asking for money. He was promptly told there was no bank of Fisher I think the wife really felt bad about that at the time. You see I at the time she thought I was wealthy, simply because she had never seen a farrangs lifestyle since then she has learned that we have enough but certainly not wealthy.

The wife has also learned that what I do now assures what her future life I going to be. If I make mistakes in handling money now her future will be as bleak as her past. My wife now handles the budget not, I she is simply better at it then me.

We have all heard of the village loans and usury, but I had no idea what was going on in magical Bangkok, remember next landing a farrang the dream is go to Bangkok and earn money, here in Issan.

The brother is 31 years old has a wife and two children, he works for one of the British retail operations and ha done so for six years, in maintenance, earns 4500 baht a month works six days a week twelve hour days I was always under the impression that wages would be higher in Bangkok, maybe not. The wife also has a job earn 3500 baht a month. The kids in typical Issan fashion are being raised by the Grand Parents. A real godsend since they only pay 1K a month fro that, plus school and clothing expenses. Costs are really reduced in village life where the food is grown for the most part. The opportunities for education are also dropped considerably. Both my wife and her brother have six grade educations. A huge part of the problem with his earning capacity.

He is generous young guy started borrowing money to help his cousin go to University; we got into that as well. Only to find out now she has quit without finishing her education. She now has a small business selling clothes. Then there were his own children needing money for school.

So he went to the local loan shark and over a short period of time borrowed 20K. The pay back 5K every fifteen days, Do the math that is more then they make a month, If they were to actually pay of the loan a agreed, they would pay 10K for the use of the money over a six week period. Well obviously that would never happen; no matter how frugal you are you have to eat. The only option continues to be, to borrow. So the road would have been keep working forever to pay off a loan that would never be paid off.

So I gave him a chance he needed 17K to pay the woman off. Originally presented a 20K sit the young man down and explained that I can add and subtract so the real figure was given then. Not a gift he has to pay back his sister at 1K a month.

The conditions, interest free, if he puts himself in the same position again he is on his own we would not help him twice, for this reason. Id he does not pay the loan back he will never get another. Does he believe that, well we have been together for four years he as asked before only to be told no. So some true advantage to doing what he has agreed to do.

The two of them are unique in some ways not typical Issan, there is no family farm. That was sold by the Father to buy gold for the Mia Noi. The Father eventually beat the mother to death as she objected to the Mia Noi. So in their childhood he was in Prison and now deceased himself. Could be why she doesn’t giggle about Mia Noi’s and look the other way.

Raised by their mother’s sister, who has a heart of gold, but not much money. So the kids were in the work world very early on. I was to buy school came first. It was not an option for them.

I realize that the brother I never really going to achieve much with a sixth grade education working for someone else. My offer front 8K a month but he had to go to school. Well they call it face here, macho in the Latin world, at 31 there is no way he is gong back to school. Simply to embarrassing, I can understand that but I did explain that I was 60 and still going to school.

I also explained that I worked and supported a family though college, but the reality Is I worked a 40 hour week, not what he is doing. Well that offer was worth 600K so it really didn’t hurt my feelings when he turned it down.

My first reaction to all of this how stupid can you be. Then the light went on even though this guy has a six year work history at one place no bank is going to give him a loan. He has no collateral not even a motorcycle. So the sources we think of as being normal for money are far out of his reach.

Is this illegal sure it is. However, is he going to say anything about it, would you if it were the only place you could go in an emergency?

So we worry about the exchange rate on the baht and so do the moneyed people do here. What percentage of Thai people fall it this category, enough to make money lending a big business.

Well here’s hoping he is learning something from this, I have my doubts, but I can afford to give him a chance. I can tell my wife does she chewed on his ear for an hour then chewed on his wife’s ear for 30 Mins. on the phone. Something usually reserved for me LOL

I hope he performs well on this then maybe I can help him find a better way. If he doesn’t then he has made his own choose about the road he wishes to follow. By the way it clearly explained to him that his initial greed was why he had never been helped before.

I truly believe that from time to time everyone needs a helping hand. I also truly believe that gifts are not the way to truly help people. Understanding cause and effect is important, do bad things, bad results usually, do good things good rewards usually. Gifts have a short term benefit earning your way has long term benefits.

The other side of the coin is the lender why 50% wonder how many non performing loans she has. Remember this is a non secured loan given illegally, so short of breaking arms. There isn’t much you could do to collect, so unless you willing to do that a very chancy business I guest hope would be with such outrageous interest overall you will profit, even if you lose sometimes

[Loz]

Sounds like you did a good deed there Mr Fisher. I hope your B-I-L can get a foot hold with your help.

As for the Strength of the bhat? I'm more interested in the strength of character of the people living with it as their daily currency. Seems to me they do well to be smiling so much of the time.

[WaiWai]

Thanks for writing about this, ray23. I wish your brother-in-law success.

[noungning]

yes, so many people take into offense to go back to school when they are more than the average school aged population. good thing i was able to talk someone into going back.

obtaining a job for anyone in thailand is difficult, especially bangkok, it's more than just qualification and appearance now a days. newly grads are probably in an out of interviews like it's a mini mart.

and for those who has been graduated and working for years still gets very little. i know someone who graduated and worked for 5 years at this one place and he gets less than 15,000Bt per month. having to raise a child [hiring a babysitter], pay for bills, and eating, it's not enough. i see the same type of occurance here, in the states, cost of living rises but pay is still the same. fortunately, it's not as bad for us since there are so many federal/governmental assistance. but for those in thailand, i feel it's a situation they must work or not survive.