Thai economy slips into recession after worst quarter in eight years

[bipper]

22 hours ago, worgeordie said:

The bad news for Thailand,has not affected the Baht at all,

what's it going to take !

regards Worgeordie

When Tesco is paid for?

[Justgrazing]

22 hours ago, webfact said:

There should be a U-shaped recovery,"

What the economy going down the toilet .. Is that what he means ..

[robsamui]

I'm surprised that nobody's commented on the very strange photo that's been used to go with this article. A deserted beach - fine; easy enough to come by at the moment. But what's the reason for including a Thai down-and-out in the frame? Look closer - covered from head to foot with no skin showing, lying on bits of cardboard, no iPad, iPod or smartphone, and a carton of milk instead of beer. Obviously not farang.

It doesn't illustrate a lack of tourism - it looks too much like a stray corpse in a desert. And as a visual symbol for a recession it leaves a lot to be desired, just one tramp asleep on the beach.

 

Any insights into the obscure Thai thinking behind this photo?

 

[KhunFred]

Terrible news and Thailand will blame it all on farang.  I truly feel sorry for the homeless, I see on the streets in Pattaya. I can't feed them all, but I try to give something. I personally know one homeless Thai man who is also suffering from some form of psychosis. He told me that it's no worse for him than it's ever been. He is from Ubon Rachathani and has been homeless for eight years in Pattaya. I offered to pay his bus fare to Ubon, but he told me he could not go home. His English is not good enough to get the full story. Dealing with the tragedy is sometimes very difficult. In order to feel very lucky, all I have to do is walk down the street.

[RichardColeman]

22 hours ago, worgeordie said:

The bad news for Thailand,has not affected the Baht at all,

what's it going to take !

regards Worgeordie

Be fair, if the world's economies crash , it's hardly going to lower the baht

[sanuk711]

21 hours ago, hugolars said:

Yes, the elite does not want their trillions to loose its value.
I wonder if there is financial mechanism to detect currency manipulation or if its unofficially pegged to other currency.  

Isn't this a bit of  a fantasy hugolars.......I mean if you had trillions of baht & also some say in if its devalued or not. Can you not think of a way of making more trillions, rather then just letting it sit there.

[paulikens]

the baht will go up then????

[Caldera]

I wouldn't mind a slipping baht to go with that slipping economy!

 

[paulikens]

22 hours ago, Brunolem said:

Some countries show annualized GDP figures, while others show only the quarter, which explain the wide discrepancies from one to another.

 

A large part of the UK's economy is made of (criminal) financial transactions, run from the cesspool known as the City.

 

Crime never sleeps and never goes into recession.

 

Lucky Brits...

 

yea the uk are the only country in the world that has criminal financial transactions!!

[chainarong]

23 hours ago, Ranshoko said:

To be expected. Most other countries will end up the same. However, I suspect the Bankers and Government will manipulate the Baht and keep it strong. 

Japan and Germany are now in recession, as U say Ranshoko there's more to come.

[Brunolem]

22 minutes ago, paulikens said:

yea the uk are the only country in the world that has criminal financial transactions!!

"the City" and its very particular status is something unique in the world indeed...so much so that foreigners are coming there by the thousands in order to get a piece of the action, which they can't get back home where the rules and regulations are a bit more stringent...

[smudger1951]

As I could not board my flight back in March I'm stuck here in UK pondering on the merits of the Chancellor of the Exchequer who has genorously put us in £300 billion plus of debt to support people through this lockdown on top of the all embracing welfare state and the Nhs. In comparison Thailand travels light and has a more resilient currency. 

[Mikeasq60]

5 hours ago, spidermike007 said:

In my opinion you can tell the number of people who have Covid, by the numbers who are dying. The virus has a definitive incubation period. It does not stay in one's system indefinitely. Two weeks, and either you are sick, or you are well and it has passed, as your body has beaten it. Covid is not like a ghost in a horror film. The lack of infections and the lack of deaths says it has moved on from Thailand, and we have beaten this pest into the ground. Tests are not necessary, when you do not have Covid illness. Period. Cling to whatever disaster scenario makes you happy. The Zombies are NOT coming. 

Lets see Im 62 yo and I was in Bangkok when it all started. Im still alive and Ive never felt better. Hope to return in July or August.

[Chongalulu]

On 5/18/2020 at 9:38 AM, worgeordie said:

The bad news for Thailand,has not affected the Baht at all,

what's it going to take !

regards Worgeordie

Because it’s measured against a basket of other currencies. The countries of those comparative currencies have had even worse economic figures having been more badly effected by Covid fallout.

[thailand49]

10 hours ago, Brunolem said:

The baht is not getting stronger.

 

Since the beginning of the year, the baht has lost ground against the US dollar and the euro.

 

And nobody is pushing it higher because it is impossible.

 

To do that, the "manipulators" would have to buy the baht by selling billions of US dollars and other major currencies.

 

And where would these foreign currencies come from?

 

One can't imagine the local billionaires, sitting on piles of US dollars, selling them to buy the baht, in order to...be able to buy US dollars!

 

Nonsense!

 

O.K. Mr. Econ!  The way things are going in Thailand the baht should have already crashed already but instead of it weakening against the dollar to 35-1 it is making a reverse from Feb which was 33.10 one day

 

Don't use words here like nonsense you just make yourself sound like a overhyped fool unless you are running a countries economy of some Fed reserve chairman you are just like the rest of us turds swimming in the same tank it is just a website don't get your boxers all wedge up with comments!????

[johnmcc6]

Out of some 69 million only 26 people died? And yet  it panicked the government into destroying the tourist industry, ruining the economy . Putting millions out of work and having more suicide deaths from people in abject poverty in fear of  starving to death than the virus killed. As the numbers and information is finally coming out world wide it is becoming apparent the whole thing was blown way out of proportion to the problem leading many to now claim the whole thing was a ( is) a giant hoax. Brought about by anti capitalists and  trump haters hoping Trump will lose 20 20 because of the economy. We will soon see if it was a hoax or a well planned mission by some with grand ideas of a socialist take over. All in all cure seems to have been worse than the disease 

 

[uli65]

of course all this covid hoax is coup against the mankind

[mok199]

From the ashes will rise a Phoenix....faster than a speeding bullet,able to jjump tall buildings in a single bound....SUPER BHAT...

Edited May 20, 2020 by mok199

[dogfish180]

What is that guy doing on the beach?? Arrest his <deleted>! He'll become a super spreader ????

[kingdong]

15 hours ago, smudger1951 said:

As I could not board my flight back in March I'm stuck here in UK pondering on the merits of the Chancellor of the Exchequer who has genorously put us in £300 billion plus of debt to support people through this lockdown on top of the all embracing welfare state and the Nhs. In comparison Thailand travels light and has a more resilient currency. 

so far the amount paid out to people is less than 2008 financial crash where the government bailed out the banks,at least the money should stay in circulation this time round,

[bwpage3]

Don't be surprised next Q to see another financial crisis on the horizon like 1997.

[bwpage3]

I was looking to book a hotel this week in the USA.

 

I checked a few of them.

 

Some rooms have added a $25 Covid Sanitation fee to the cost of the room.

 

Increase flight costs, increased fees, etc.

 

Not many will be traveling internationally and Thailand will struggle financially.

 

My friend who has worked at United Airlines for 35 years, is now on a 36 hour work week at 50% pay for the rest of year.

 

That is an outlook from one major US Airlines.

 

It does not appear things will go back to normal any time this year.

 

 

 

 

 

 

 

 

 

 

 

 

[Brunolem]

14 hours ago, thailand49 said:

O.K. Mr. Econ!  The way things are going in Thailand the baht should have already crashed already but instead of it weakening against the dollar to 35-1 it is making a reverse from Feb which was 33.10 one day

 

Don't use words here like nonsense you just make yourself sound like a overhyped fool unless you are running a countries economy of some Fed reserve chairman you are just like the rest of us turds swimming in the same tank it is just a website don't get your boxers all wedge up with comments!????

Why don't you bring some solid arguments to the debate, instead of bullying around?

 

And don't imagine that all the members on this forum share your "turd" profile...

[thailand49]

2 hours ago, Brunolem said:

Why don't you bring some solid arguments to the debate, instead of bullying around?

 

And don't imagine that all the members on this forum share your "turd" profile...

Bullying you got to be joking right!  telling people because you don't like their opinion " nonsense "  I've heard from you before your comments to me and others it is as your <deleted> don't stink or something I suggest you look hard and fast in the mirror. I'm not surprise as to the turd remark everyone including me consider it a joke a bit of humor but when it comes to you should I say it again!  bye.. try getting a job on wall street instead of thinking you are one!

[metisdead]

An off topic post has been removed.