Thailand Risks First Double-Dip Recession Since 1998 Crisis

[hotchilli]

15 hours ago, snoop1130 said:

Thailand will likely be the worst economic performer in Southeast Asia this year, with economists continuing to slash the country’s growth forecast amid surging Covid-19 infections, mounting political tensions and fading hopes for a tourism revival.

Good job government... it's all under control.

[impulse]

14 hours ago, Orinoco said:

I care as much as they care about me. !!!!!!!!!! LOL 

Which is the cause, which is the effect?

 

[bougnat]

40 minutes ago, henry213 said:

Why you writing bad about Thai's?

The temples have amassed a lot of gold donations over the past 20 years, now we would like it to come out of the chests to be used for what it was intended .....

[hotchilli]

14 hours ago, Nojohndoe said:

Why would anyone find satisfaction from the possible demise of the economic status of a country and the impact on the vast majority who are already mainly  far from comfortable wealth?

Possibly the satisfaction of seeing the military march out of parliament and give the people a real government.

[hotchilli]

14 hours ago, AnotherFarang8 said:

We don’t need economy any more. People can exist as souls. Physical body life is so overrated.

We can have a 5G virtual existence.

[lks7689]

26 minutes ago, Banana7 said:

It's the super rich of Thailand that demanded importing foreign labourers, without a 14 day quarantine, without a covid19 test and without a USD$100,000 insurance policy, from heavily virus infected neighbouring countries, that caused this massive new wave of infections since April. It was also Thai immigration (Police) and the Thai military that allowed the migrants across the borders without following the virus rules and guidelines.

 

These super rich owners of construction and development companies, many factories of all sizes, and of course lets not forget the merchants of wholesale markets, especially seafood, employed illegal migrant laborers, and let's not forget the government who fully knew about these illegal labourers. The government even provided them amnesty to register.

 

Basically, the government, bowed down to the super rich so they could make more money, sacrificing the lives of innocent Thais and all who live in Thailand and suffer economic hardship.

 

 

You are assuming the migrant workers brought the virus with them into Thailand. How sure are you that there were not infected in Thailand in the first place. You really believe Thailand controlled the virus so well in the beginning by doing basically nothing? What has transpired since, whether it's from poor planning, governance or pure incompetence,  never surprised me one bit. You should too if you done your homework about Thai culture over the last century.

[Jack Cook]

A technical recession, failed state, would be more accurate. How on earth do these academics and authorities dream this garbage up. Thailand is essentially unrecoverable.

[Nojohndoe]

7 minutes ago, hotchilli said:

Possibly the satisfaction of seeing the military march out of parliament and give the people a real government.

If it were to come to that it would be a painful march for the overall population as it happens !

[Rookiescot]

With no tourists pretty much the only thing bringing money into Thailand is exports.

A weaker baht would help that.

[Skeptic7]

14 hours ago, Nojohndoe said:

Why would anyone find satisfaction from the possible demise of the economic status of a country and the impact on the vast majority who are already mainly  far from comfortable wealth?

Cuz this place has been (and still remains) so full of itself (and ????) coupled with arrogance, greed, incompetence, expense and snarling unappreciation to not only the foreigners, but also to it's very own. 

 

Comeuppance is long overdue and well deserved. Let the good times roll! 

[Nojohndoe]

5 minutes ago, Skeptic7 said:

Cuz this place has been (and still remains) so full of itself (and ????) coupled with arrogance, greed, incompetence, expense and snarling unappreciation to not only the foreigners, but also to it's very own. 

 

Comeuppance is long overdue and well deserved. Let the good times roll! 

I agree. The US does have problems.

But I was commenting about Thailand.

[henry213]

29 minutes ago, bougnat said:

The temples have amassed a lot of gold donations over the past 20 years, now we would like it to come out of the chests to be used for what it was intended .....

Why you quoting me? i don't give a sugar

[Skeptic7]

4 minutes ago, Nojohndoe said:

I agree. The US does have problems.

But I was commenting about Thailand.

Funny. Good one! 555

 

But so was I, as you already know. May it be harsh, long and grueling. Couldn't happen to a more deserving place. ????

[Eric Loh]

Painful lessons must be learned if we have another recession since 1998. 

Generals are bad at governing. Keep them out permanently. 

Yellow shirts to be blamed for their stupidity to back the coups twice. 

The junta constitution is highly skewed and have to be changed back to the 1997 people's charter.

Factories can't rely on cheap labors and must automate and mechanise to reduce workers

More efforts must be make to improve domestic tourism with better infrastructures etc

Mass foreign tourism need reviewed for smaller quality tourism

[spidermike007]

1 hour ago, nobodysfriend said:

I surely agree with your view of the incompetence of the present thai government .

Their reaction to the virus has been pathetic at best .

But the virus itself did not ' grow on Prajut's own petridish ' .

He is not responsible for this .

It is human behavior that is .

 

While he may not be responsible for Covid, he and Anutin made many poor moves which allowed the spread.

 

Not locking down the Samut seafood market area, within a 2km. radius, and and making sure nobody come in and out for 15 days, back in early December when they had 900 plus cases in one day, was a legendary mistake and amounted to gross malfeasance and likely blatant corruption. 

 

Not sealing off the border with Burma, with the use of the 550,000 soldiers who are supposed to protect the nation, (and likely do next to nothing daily) and allowing corrupt border officials to continue working their franchises, was another. 

 

Announcing the closure of construction sites in Bangkok, a week in advance of closing them was as bone headed as it gets. It allowed super spreaders to travel freely all over the nation, resulting in an immediate surge of nationwide cases. 

 

And the severe bungling of the vaccination program is absolutely unforgivable. Even for a Christian. LOL. 

 

You want me to go on? The current wave is not Covid 19. This is better called Pratin 19!

[paul1804]

16 hours ago, Nojohndoe said:

Why would anyone find satisfaction from the possible demise of the economic status of a country and the impact on the vast majority who are already mainly  far from comfortable wealth?

Its really difficult to get your head around a lot of the comments made by some people on this forum!!! 

[Al BB]

15 hours ago, theoldgit said:

Offensive troll post removed.

MOD, Why do I get the "Black Spot" when I click on the Like Meme?

[Knocker33]

They deserve it.

[SomchaiCNX]

Talk, talk but everybody knows the solution, we are only not allowed to mention it on TV. THai people don't deserve it as it is caused by those in power.

[SomchaiCNX]

15 minutes ago, Knocker33 said:

They deserve it.

No 95 % of the Thai don't deserve it.

[Nojohndoe]

35 minutes ago, paul1804 said:

Its really difficult to get your head around a lot of the comments made by some people on this forum!!! 

Sometimes yes! The "do em down" attitude I guess maybe comes from people who are hoping for others misery to be worse than their own?

Other times I get images of Bezos laughing demonically !

[johnarth]

I been watching the KBank shares for a few months as I decided for first time would buy shares and buy Kbank shares when I first looked it up I got a big surprise that explained a lot, Kbank has the highest share prices of the Thai banks and it is (affiliated with one of the big four banks of China) once you know that not hard to imagine, well anyway the share price has been slowly going down and I still waiting for it to stop

[bougnat]

11 minutes ago, SomchaiCNX said:

No 95 % of the Thai don't deserve it.

'" People who elect corrupt, renegade, impostors, thieves and traitors are not victims! He is an accomplice. "

Georges Orwell.

[SomchaiCNX]

Just now, bougnat said:

'" People who elect corrupt, renegade, impostors, thieves and traitors are not victims! He is an accomplice. "

Georges Orwell.

It is the system, honest people don't make it to the election list. The problem started after the last election. Now the general has to share to stay in power.

[Smithson]

3 hours ago, stephenterry said:

Clearly, a lower baht realignment would not only lead to cheaper exports, but also attract foreign tourism, if it wasn't for the Thai government failing to promptly vaccinate their population- who now are the greatest danger of spreading the Covid everywhere. 

 

For long-term ex-pats who have been suffering lower and lower exchange rates for many years now, it is, and will be, a refreshing relief from making ends meet. Celebrate with a good quality whisky, or a quality pinot noir.

 

Cheers, guys.

 

 

  

Truly long term expats know the Baht is higher now than when they got here.

[Burma Bill]

18 hours ago, snoop1130 said:

the Asian Financial Crisis more than two decades ago.

The good old days - 80 baht for one GBP!!!!

[Smithson]

3 hours ago, Bim Smith said:

It's a depression but it's just not being reported. Currency reserves are much higher now from the lessons learned from 98 but even they must be running low. What they run out the baht will truly crash. 

Is there any evidence the govt is spend currency reserves to prop up the Baht? People have been saying this for over ten years, yet the reserves are still there.

[kcpattaya]

Thanks to the general and his team-mates. 
Another round of spicy soup is being served to this beautiful country...
Well done!  ????

[tlandtday]

16 hours ago, chalawaan said:

C'mon! a double dip recession is for wimps!

Let's push the boat out, nothing less than a Triple Dip Depression, with a side of out of control disease! Yeah baby! Burn like you mean it!

So sould this make Thailand a hub of recessions?

[tlandtday]

2 hours ago, Jack Cook said:

A technical recession, failed state, would be more accurate. How on earth do these academics and authorities dream this garbage up. Thailand is essentially unrecoverable.

Don't worry China is throwing a lifeline.