State of economy worse than initially estimated: BOT

[BigStar]

13 hours ago, steven100 said:

well i'll be a donkeys a_ss  .....  of course it's worse than you expected because you are not out in the real world where everyday folks are broke .... pennyless 

BOT: TVF has predicted exactly this for decades. Finally!

[Bender Rodriguez]

PANIC killed the economy, not COVID19

[steven100]

5 minutes ago, Bender Rodriguez said:

PANIC killed the economy, not COVID19

a world wide pandemic didn't help.  

[DrTuner]

16 hours ago, Cake Monster said:

Maybe its because of the FDI coming into the Country from the Mother land to the North.

I think Thailand sees the start of a massive investment program into the Country from China, and want to a court that idea.

Any investment by Chinese Companies into Thailand in order to skirt  around Tariffs imposed by the US will soon be pinged, and a whole world of hurt will hit the Country

Investment as in debt slavery and buyouts. The usual CCP imperialism.

[Guderian]

17 hours ago, webfact said:

He added that the economy will contract more than initially estimated, and there are concerns that the baht will strengthen further and adversely affect economic recovery. 

So in Thailand, bad news about the economy actually strengthens the currency. What next, PM Prayut walking on water?

[hotchilli]

17 hours ago, webfact said:

State of economy worse than initially estimated: BOT

Yet the teflon coated Baht rises high... 

[johnarth]

it is not making sense everything everybody says can be reversed or broken down, not one has made a statement that is one sided, like yes China is poring machinery into Thailand and ninety percent of things sold in Thailand come from China, in reverse Thailand is spending billions to China for machinery and help from China to build high speed train from Bangkok to China, and of course China is the big winner there Thailand will be in debt to China for ever when finished. Just have to add how long do you think it will be before the first major train accident. that will cost Thailand even more billions.

Talking gold, like I have said many times, what country has had the guts to ask China to put their gold where their money is

[Trillian]

The assessment of the Thai economy is worse than thought previously but it's still in far better shape than many western economies, that's why the baht remains strong and is rising. This is mostly a debt issue, Thailand's government debt is quite low by comparison, overall the Thai economy is in decent shape, despite it being found now to be worse than previously thought.

[Trillian]

3 minutes ago, johnarth said:

it is not making sense everything everybody says can be reversed or broken down, not one has made a statement that is one sided, like yes China is poring machinery into Thailand and ninety percent of things sold in Thailand come from China, in reverse Thailand is spending billions to China for machinery and help from China to build high speed train from Bangkok to China, and of course China is the big winner there Thailand will be in debt to China for ever when finished. Just have to add how long do you think it will be before the first major train accident. that will cost Thailand even more billions.

Talking gold, like I have said many times, what country has had the guts to ask China to put their gold where their money is

The gold standard ended in 1997, there is no requirement to back currency with gold.

 

And Thailand is paying for the high speed rail link using bonds and third party loans, some in USD at the request of China, China is not carrying those loans.

[moe666]

I have a ETF in Thai companies, up up and more up

[Trillian]

1 minute ago, moe666 said:

I have a ETF in Thai companies, up up and more up

Ditto my LTF's.

[DUNROAMIN]

16 hours ago, Cake Monster said:

Maybe its because of the FDI coming into the Country from the Mother land to the North.

I think Thailand sees the start of a massive investment program into the Country from China, and want to a court that idea.

Any investment by Chinese Companies into Thailand in order to skirt  around Tariffs imposed by the US will soon be pinged, and a whole world of hurt will hit the Country

Correct, Thailand is becoming the CCP next puppet, and eventually over time they will control the economy here. Thailand needs to take the rose colored glasses off before the CCP gets its claws in. Many countries around the world now are starting to see the CCP's true colors and standing up to their bullying.

[DrTuner]

3 minutes ago, DUNROAMIN said:

Correct, Thailand is becoming the CCP next puppet, and eventually over time they will control the economy here. Thailand needs to take the rose colored glasses off before the CCP gets its claws in. Many countries around the world now are starting to see the CCP's true colors and standing up to their bullying.

They already lost control, the Sino-Thais infiltrated the system from the inside ages ago. Somewhat ironic they are returning to the place they fled from now that it's under the worst government since Mao.

[BritManToo]

16 hours ago, Trillian said:

The ever weakening USD is a concern when it comes to Baht strength, people have been dumping the Dollar which is causing it to weaken.

Dumping the USD and buying what?

Just interested in which currency is better than the USD ......... not the GBP, EURO, NZD or AUD surely?

[Brunolem]

4 minutes ago, DrTuner said:

They already lost control, the Sino-Thais infiltrated the system from the inside ages ago. Somewhat ironic they are returning to the place they fled from now that it's under the worst government since Mao.

The Thai-Chinese indeed control the country's economy, especially all its big corporations, but...these Chinese are like those of Malaysia, Singapore or Taiwan...they are ready to make business with the mainland, but they don't want to have anything to do with its political system.

 

The way Thailand is working, especially at government level, is hard to grasp and often appears infuriating, but in the end the results are not so bad.

 

It is not Singapore, but it also not Laos, Cambodia or Indonesia.

 

Thailand's way is "order out of chaos".

 

First there is confusion, mayhem or inaction, and then slowly the pieces start to assemble themselves.

 

It has been like this when dealing with the pandemic, and also like this when dealing with the boys in the cave: first chaos, and in the end a brilliant result...

[Elkski]

I'm terrible at investing.  who c as n have balls to invest in Thailand now? 

[Brunolem]

13 minutes ago, BritManToo said:

Dumping the USD and buying what?

Just interested in which currency is better than the USD 

The best and most resilient money: gold!

[ebean001]

safely open the bars. that will be the end of it. open tourism. it is all about testing...i mean effective testing then having people follow the obvious guidelines in public. the flu is probably causing more health problems than the virus in thailand. lots of people get the flu. many die especially in USA. (actually 500/day die in USA during their flu season). 

We need a pill that helps recovery. the vaccine is like chasing a ghost. it will take a long time and people will be divided in getting a vaccine.

[Isaan sailor]

17 hours ago, Misterwhisper said:

So if

and

and

and

then why would there be

?

 

Under all these above conditions PLUS the fact that millions of workers have lost their jobs while inflation soars, shouldn't the THB tank at least a little bit instead of strengthening? I just don't understand what is keeping it so high. It cannot be due to (foreign) investors parking their funds in the THB as a "safe haven currency" alone, can it?

Obvious to even the casual observer that the Thai economy suffers from the double whammy of an overpriced Baht and a China-centric government.  If and when western countries move supply lines away from China—Thailand would not experience any recovery, if things don’t change.

[Trillian]

27 minutes ago, BritManToo said:

Dumping the USD and buying what?

Just interested in which currency is better than the USD ......... not the GBP, EURO, NZD or AUD surely?

THB and gold.

[Trillian]

16 minutes ago, Elkski said:

I'm terrible at investing.  who c as n have balls to invest in Thailand now? 

Lots of people. Holding LTF's in Thailand is one way, they're a composite of the top Thai SET funds. Another way is to hold investment funds that include a slice of Thai investments, I've held both for several ears and have recently added to both when the prices were low, lots of other people did the same.

[Trillian]

6 minutes ago, Isaan sailor said:

Obvious to even the casual observer that the Thai economy suffers from the double whammy of an overpriced Baht and a China-centric government.  If and when western countries move supply lines away from China—Thailand would not experience any recovery, if things don’t change.

Neither of those things is a negative, if you happen to be Thailand, only if you're an expat living in Thailand on fixed income, at the mercy of exchange rates and with no income in Baht.

[sukhumvitneon]

38 minutes ago, BritManToo said:

Dumping the USD and buying what?

Just interested in which currency is better than the USD ......... not the GBP, EURO, NZD or AUD surely?

gold and bitcoin

[Srikcir]

"worse than initially estimated"

Finally, something about the economy that BOT has been consistent on for the last 3 years.

[Expat Tom]

The currennt situation is great for expats with foreign incomes but terrible for the Thai people.

The Government should just sell Thailand to the Chinese. They will eventually own it anyway. Holding back the Chinese is like trying to hold of a plague of locust. 

[Trillian]

6 minutes ago, Expat Tom said:

The currennt situation is great for expats with foreign incomes but terrible for the Thai people.

You've got that back to front! Thailand's is great for anyone with Thai income but pretty lousy for anyone with foreign currency income, ask any expat or FOREX dealer!

[Sean60]

I guess the solution will be to allow the dirty non showering faring back to Thailand.

[spidermike007]

The most preposterous, ridiculous, arrogant, inane, and idiotic aspects of the economic projections, that many have been making about the recovery, is that it is all based on less than zero. There is no experience in re-starting a major economy because it has never been done, in a deliberate manner. Never in world history. So, how do you develop an effective computer model, or projection based on sheer nothingness? Of course it is going to be worse that projected. Just the very thought that you know how this is going to turn out is inane. The variables are nearly infinite. The "ramp up" will be infinitely harder than previously presumed, the joblessness higher, tourism more greatly decimated, and the unemployment rate will remain high for a long time to come. Possibly years to come. 

 

Here are a few images of Chaweng Beach on Koh Samui taken yesterday by a friend of mine. It is not only a ghost town, the place is all torn up, and roads are decrepit, and countless stores have closed permanently. Since the island thrives primarily on international tourists (Thais have never considered Samui a destination, due to the local piracy), who knows how long it will be before it even resembles an attractive, or thriving place to visit?

 

 

[Trillian]

5 minutes ago, spidermike007 said:

 Of course it is going to be worse that projected.

There is a 50% chance of that being true, not 100%!

[Jack Cook]

Lies, damn lies, and statistics.