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How many foreigners have gone broke?


kwilco

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5 hours ago, zzaa09 said:

I think all this might category itself by unnecessary lifestyle and inability to adjust - in good times or bad times. 

I am sure there is an inescapable strain of logic there, but I can not just put my finger on it. 

 

On topic I surprisingly only know one who had to go home skint, but several others who got stuck outside and won't come back due to  quarantine and some not being up to the CoE. At least after 3 rejections they abandoned it. 

Edited by rott
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We will never know.


No statistics available from Thai Authorities "how many Farangs have left, because they were broke".
Also, no "home-country" produces any statistics of "xxx numbers of our citizens have come home because they went broke in Thailand". And hardly will any returning Farang wear a T-shirt saying " I went broke in Thailand and I deserve your sympathy".
Ergo: We will never know.

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8 hours ago, StreetCowboy said:

When half your tenants have stopped paying rent, and the other half have shuttered up shop and gone out of business, your invested life savings seem less valuable.  Especially when the government runs up inflation on the printing presses churning out monopoly money, and you can see your fixed income and your savings dwindling in value.

On the bright side, there is a little bit of schadenfreude for those with no children, knowing that  other people's future generations will be saddled with the debt incurred during the pandemic to protect primarily the elderly.

What does that have to do with Thailand and the OP  I know the post you quoted was not about Thailand but your response is also off topic and confusing 

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7 hours ago, ChristianBlessing said:

Fair enough. My comment concerned retirees in the US, where the vast majority do not rely on rental income for retirement needs. I understand that not all countries provide a decent safety net or social security/pension plans. As for future debt, yes, we'll all be paying, but very little of the Covid relief funding was earmarked for protecting "primarily the elderly". 

The COVID restrictions were aimed at controlling a disease which was progressively more harmful the older the patient.  

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17 hours ago, thaibeachlovers said:

No government IMO is going to volunteer to give us bad news. If they ain't <deleted> scared of what will happen next election they should be.

Here in Thailand its not necessary to have those expensive elections...a coup will do!

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Having lived here for 16 years I’ve seen many foreign businesses go belly up normally it a fella who has met up with a bar or massage girl and been persuaded to part with money into some venture and to make things simple they put everything into the new GFs name only to find that the business constantly trades at a loss so much so the doors close and the foreigner is forced to return home and start all over again to many of them leave there brain at the departure lounge when they come to visit Thailand big big mistake !

Edited by crazykopite
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4 hours ago, NightSky said:

A better question to ask is simply How many foreigners have gone

 

and

 

why would they want to stay even if not broke

Many farangs love Thailand, and will stay regardless. They are generally not on threads like this.

I'd have stayed if I could, even during this unfortunate phase.

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19 hours ago, thaibeachlovers said:

No government IMO is going to volunteer to give us bad news. If they ain't <deleted> scared of what will happen next election they should be.

The government allocated a number of unelected seats to the army at the last election. They will always have a majority.

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1 hour ago, BMW Overlander said:

My next door German neighbor and his Thai wife were evicted few weeks ago, apparently defaulted on bank loan payment.

Yesterday SCB officials put this sign on. Few others in our mooban facing the same situation.

 

 

 

 

20210913_160236.jpg

Posts like this make me happy to be a glass half empty sort of guy.

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23 hours ago, kwilco said:

How many of these people have shut up shop and how many have had to return home?

It's been the biggest wealth gain annually in almost a decade for me, and i'd imagine for some, well placed positions in 2-15/2-16 came through, the markets were a gold mine, and opportunities everywhere, I probably 600x'd my net-worth (physical) over the past two yrs.

 

If you sit around moping, and not seeing the opportunities, and not doing anything you become a victim of your own lack of drive.

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21 minutes ago, Jenkins9039 said:

It's been the biggest wealth gain annually in almost a decade for me, and i'd imagine for some, well placed positions in 2-15/2-16 came through, the markets were a gold mine, and opportunities everywhere, I probably 600x'd my net-worth (physical) over the past two yrs.

 

If you sit around moping, and not seeing the opportunities, and not doing anything you become a victim of your own lack of drive.

Some people only see the negative so will always struggle making money

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British friend of mine had a lovely, healthy niche restaurant in Bangkok On Nut area. After the incessant and unnecessary jerking around...open/closed/dine-in allowed/take away only/travel/no travel every other month...she finally shuttered it for good last month. 

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23 hours ago, thaitom said:

 

Perhaps if the USA had public tax funded healthcare for all, a reasonable equitable tax system (it isn't even remotely either of these), and other democracy norms re: maternity leave, tax funded semi-to-free education system etc. Parents and grandparents wouldn't have to support their adult kids. 

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