Pattaya: City braces for lockdown - mayor says "we're ready for anything"

[Senechal]

Wasn't it supposed to be for 14 days? Should be over by now.

 

Just like "14 days to flatten the curve" last year....

[kingofthemountain]

26 minutes ago, Senechal said:

Wasn't it supposed to be for 14 days? Should be over by now.

 

Just like "14 days to flatten the curve" last year....

If you don't want a revolt, you need to give some hope to the people

also if the duration of the closure anounced is more than 1 month, they will all

start to ask some form of financial compensations from the governement

hence the 14 days trick. wich can be reapeated several times

 

[Senechal]

20 hours ago, kingofthemountain said:

If you don't want a revolt, you need to give some hope to the people

also if the duration of the closure anounced is more than 1 month, they will all

start to ask some form of financial compensations from the governement

hence the 14 days trick. wich can be reapeated several times

 

 

Yep. Agreed. 

 

The question is, how long can Thailand's banks continue to pretend that NPL's aren't rising? Anyone with half a brain knows that data is cooked. 

 

Banks can put on a happy-face for a little while, but eventually everyone notices they're bleeding out. 

 

 

 

Edited April 25, 2021 by Senechal

[kingofthemountain]

4 hours ago, Senechal said:

 

Yep. Agreed. 

 

The question is, how long can Thailand's banks continue to pretend that NPL's aren't rising? Anyone with half a brain knows that data is cooked. 

 

Banks can put on a happy-face for a little while, but eventually everyone notices they're bleeding out. 

 

 

 

imo Thailand and the banks can keep the happy face for a while

 

they had a massive reserve of foreign currencies (Due to the previous golden years of tourism and the massive export sector)

now even if this tourism flow is drying, the foreign money is still flowing here by transfers (Expats with a pension, sponsors stranded abroad with Thai gf\wife \family,  ''investissors'' from China and India and so on, all these people send money from their country to Thailand on a regular basis and the numbers, put together, are huge)

 

Also Thailand doesn't have a massive public debt like most of the western countries (The personal rate of debt for the Thai people is worrying but it's another problem)

mostly because there is near 0 social net, so in fact the governement spend very little each year. And it's not going to change soon, you can just see how difficult is it for them to open the wallet and purchase enough vaccines for the population.

 

Eventually they still have the possibility to print more money if it was necessary

Edited April 25, 2021 by kingofthemountain

[Senechal]

21 hours ago, kingofthemountain said:

imo Thailand and the banks can keep the happy face for a while

 

they had a massive reserve of foreign currencies (Due to the previous golden years of tourism and the massive export sector)

now even if this tourism flow is drying, the foreign money is still flowing here by transfers (Expats with a pension, sponsors stranded abroad with Thai gf\wife \family,  ''investissors'' from China and India and so on, all these people send money from their country to Thailand on a regular basis and the numbers, put together, are huge)

 

 

The amount of money flowing in from Expats and foreign remittances is microscopic relative to domestic household debt.

 

NPL's on mortgages must logically be soaring. 

 

 

[couchpotato]

On 4/16/2021 at 1:13 PM, RichardColeman said:

Depends, it appears the rules change daily if not hourly

Bangkok Gyms are closed from today. So if Chonburi follows the Bangkok closures then yes they will be.

[kingofthemountain]

1 hour ago, Senechal said:

 

The amount of money flowing in from Expats and foreign remittances is microscopic relative to domestic household debt.

 

NPL's on mortgages must logically be soaring. 

 

 

I don't think you can compare the foreign money flux with the domestic household debt

 

Thais banks can boast on the first one as it's relatively easy to verify and they can hide the second, well just because it's an internal affair for each Thai bank, so in a total opacity.

 

And in fact this is exactly what they are doing since years, so nothing new for them

 

All is about saving the face in Thailand, all is smoke and mirrors

 

until the s...t hit the fan. like for Thai airways, but it could take few decades

Edited April 26, 2021 by kingofthemountain