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Household debt hits highs following pandemic woes


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43 minutes ago, zzaa09 said:

Yes, of course. Voting this current crop of scallywags out will solve all our ails. 

And then what.....?? 

Anutin... 🤣

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To reiterate, there's the question of the tipping point. At what time will this come to bite the country in the behind, and what will that be like? Unless someone has a crystal ball, it seems we won't know till it happens.

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4 hours ago, zzaa09 said:

Yes, of course. Voting this current crop of scallywags out will solve all our ails. 

And then what.....?? 

No but it will be a start and just possibly better than the shower in term now.

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Perhaps we could snap up some late model, low mileage high end automobiles for for a song from these hapless NPL overspenders?

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6 hours ago, Rampant Rabbit said:

Too  right, the only  people responsible for their debt is themselves reminds me of  gamblers who blame advertisers when its  them that dont have any self  control, If  I couldnt save up to  buy it, I didnt, iTs  not hard to understand, the stupid  thing is  unlike many western countries they dont have to   in general get a mortgage for 25+  years many of them have land and a  "home"  already

Combine that with the fact they are too  lazy to do  a  lot of  manual work but  happy  to sit and moan how they aint got  any  money, always want the easy lazy  way. Impossible to find  anyone to work on the  land these  days who is Thai.

What actually needs  changing is the mindset of many Thais

There's some truth in this. However, functioning in this modern world often requires assuming more debt these days, and prices in the shops are also going up quite considerably.  One problem with debt is that it also prices you out of doing low paid jobs, which in any case are a dead end to nowhere, and a poverty trap. 

 

I'll say it before someone else does: 'Ok, Boomer'.

Edited by mommysboy
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It is high, but aren't most western countries up around that %-remembering also that Thailand started with a higher then most debt before the pandemic.

 

Thailand, 90.2, 77.5 ; United Kingdom, 87.7, 86.9 ; United States, 78.5, .

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13 minutes ago, Rampant Rabbit said:

Lets  put it this  way, how  many Thais  do you  know who daily buy a 30+  baht  bubble  tea  drink, when they could drink water, how  many of them have a phone they dont need, how  many have a motorbike when the bulk of their trips  less than a km could be done on a bicycle, ulitmately its a  lack of responsibility by the Thais.

300 baht is perfectly do able without   the above frivolities, however  almost all Thais  will  not work for 300 a  day and around here less than 500 a  day and that almost  all  field work is not done by Thais as theyre  too  lazy, I live in a rural  location. I pay my one Burma  Boy 15000 a  month + free  accomodation ,  motorbike, water electric  rice. Thaisnot interested..............thats over a 16  year period.

It is true, Many Thais simply can't economize. But I think that skill generally comes with middle and advanced age. We live in a different world these days though. Maybe it was easier for us to do without, because there was less to live without, and far far less pressure to have a 'wonderful' life. Different world mate!

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Lots of work available in Thailand that pays baht. There are very few excuses why debts can't be paid on time. There are a million or more foreign labourers in Thailand working in construction, factories , restaurants, etc. Hundreds try to sneak into Thailand everyday from Myanmar, Cambodia, and elsewhere, to get a job that pays.

 

I was in Phuket for a few days recently. All the waiters, waitresses, in all the restaurants I visited were from Myanmar.

 

Edited by Banana7
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1 minute ago, Banana7 said:

Lots of work available in Thailand that pays baht. There are very few excuses why debts can't be paid on time. There are a million or more foreign labourers in Thailand working in construction, factories , restaurants, etc. Hundreds try to sneak into Thailand everyday from Myanmar, Cambodia, and elsewhere, to get a job that pays.

 

Lots of work available in Thailand that pays baht.

 

Is it really enough to live on though in the modern world?  

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1 hour ago, Banana7 said:

It's enough for Thais to live in Thailand.

In most cases, it's not enough to live in a western standard of living in Thailand. This is where the disparity arises. Thai want all the appliances, conveniences, and living standards of westerners, but they don't earn western level of wages.

You make some good points, but it is a very one sided viewpoint.  

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One of the better aspects  of living on a retirement pension here in land of scams, is the utter impossibility of running up a huge credit card bill or loan. Stay solvent, die, or leave!

 

Unless of course you are completely invisible, stupid, insane, drunk, dishonest or corrupt..........................  🤒

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19 hours ago, Rampant Rabbit said:

Too  right, the only  people responsible for their debt is themselves reminds me of  gamblers who blame advertisers when its  them that dont have any self  control, If  I couldnt save up to  buy it, I didnt, iTs  not hard to understand, the stupid  thing is  unlike many western countries they dont have to   in general get a mortgage for 25+  years many of them have land and a  "home"  already

Combine that with the fact they are too  lazy to do  a  lot of  manual work but  happy  to sit and moan how they aint got  any  money, always want the easy lazy  way. Impossible to find  anyone to work on the  land these  days who is Thai.

What actually needs  changing is the mindset of many Thais

Same in the US. It's a mess here. 

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On 4/6/2022 at 7:12 AM, SoilSpoil said:

Most families own land, which has always been been the main reason Thailand earned its Teflon nickname. The Thai could alwaus rely on their famies in the villages. Lot of land is up for grabs at the moment. Just in my area hundreds 'for sale signs can be seen. Prices of a ngan or rai near to pristine beaches are at record low. With your land sold, high debt, no skills, what is the perspective of the next generations? The emergence of city slums?

SoilSpoil what area are you in? Can you estimate how much 1 or 2 rai land sells for near a pristine beach, with road frontage, electricity supply at the property line, any public water or sewage ?

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On 4/5/2022 at 1:27 PM, Banana7 said:

I was in Phuket for a few days recently. All the waiters, waitresses, in all the restaurants I visited were from Myanmar.

I live in a rural  area ,all the sugar cane cutters and cassava harvesting gangs come from Cambodia .

As for waiters and waitresses being non-Thai Thai's ,just look at the UK ,last time I was they you played spot the English person working in a Starbucks etc ,in London almost any shop will have foreign  workers working they , most come  from the former eastern block countries .

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