88% of Thailand bank accounts have less than 50,000 THB

[phitsanulokjohn]

On 3/8/2023 at 5:22 AM, VinnieK said:

Money burns a hole in Thai pockets.

Only the very few can manage it correctly.

On another tack...

These spendthrift dumba$$es will take down the banking system one day.

I hope I'm not around when it happens????

 

Money burns a hole in Thai pockets.

Only the very few can manage it correctly.

 

Never have I heard more truer words spoken.The parents of todays Thai People were the same and taught their children the proud art of borrowing beyond their means and the mismanagement of money,and so,stupidness begets stupidness,and on and on it goes.

[Stargeezr]

A lot of the world is in financial trouble, and these are countries that are not at war.

My question is when was the last time the USA paid down any of its massive debt?

  The same goes for some European countries, and other parts of the world, when is the 

last time a lot of countries paid down at least some small percentages of their debt?

It actually is a scary world we are all living in. What would happen if there was a global money melt down? 

I heard that another bit coin company has failed. Will there be any that survive? Just thinking.

I am sure glad that I did not invest in bit coin, or be involved in bit coin.

[billd766]

On 3/8/2023 at 11:12 AM, Blumpie said:

It surprises me but at the same time given the corruption there it really shouldn't.  I often wonder how expats end up getting their money out of there when they leave.

And most end up leaving - it's not really a home.  It's year to year.  

Well, it has been home to me for at least 22 years, and will be until the day I die, after which it will be home to me forever.

[fusion58]

On 3/8/2023 at 6:05 AM, HuskerDo2 said:

It's like that everywhere. In the US they just hit a record with $930 BILLION in credit card debit. Young people aren't responsible these days like their parents and grandparents. These days people buy on credit whenever they "want" something. In the past, frugal people would only buy (with cash) what they "needed" and were never in debt.

 

It's just the younger generation not being responsible while they walk around staring at their I-Phones sipping their Starbucks.

Especially problematic in a culture like Thailand where the belief that money is the only basis for self worth and respect is so pervasive and so deeply ingrained.

[Hugh Jarse]

On 3/8/2023 at 5:22 AM, VinnieK said:

Money burns a hole in Thai pockets.

Only the very few can manage it correctly.

On another tack...

These spendthrift dumba$$es will take down the banking system one day.

I hope I'm not around when it happens????

 

Thais I know keep a lot in gold rather than fiat currencies.

[Hugh Jarse]

On 3/9/2023 at 12:01 PM, Stargeezr said:

A lot of the world is in financial trouble, and these are countries that are not at war.

My question is when was the last time the USA paid down any of its massive debt?

  The same goes for some European countries, and other parts of the world, when is the 

last time a lot of countries paid down at least some small percentages of their debt?

It actually is a scary world we are all living in. What would happen if there was a global money melt down? 

I heard that another bit coin company has failed. Will there be any that survive? Just thinking.

I am sure glad that I did not invest in bit coin, or be involved in bit coin.

Hope you bought some gold or silver as fiat currencies are on their way out due to the worlds unsustainable levels of debt.

[VinnieK]

1 minute ago, Hugh Jarse said:

Hope you bought some gold or silver as fiat currencies are on their way out due to the worlds unsustainable levels of debt.

You assume everyone has serious amounts of cash sitting around. ????

I'm on the same page re: the sustainability of the current financial system.

[Neeranam]

Thais seem to be richer than Yanks. 

 

50k is over $1,000

 

69% of Americans Have Less Than $1,000 in Savings

 

https://finance.yahoo.com/news/survey-69-americans-less-1-171927256.html

[Neeranam]

21 hours ago, fusion58 said:

Especially problematic in a culture like Thailand where the belief that money is the only basis for self worth and respect is so pervasive and so deeply ingrained.

Compared to what countries do you judge Thailand? 

[bradiston]

25 minutes ago, Neeranam said:

Thais seem to be richer than Yanks. 

 

50k is over $1,000

 

69% of Americans Have Less Than $1,000 in Savings

 

https://finance.yahoo.com/news/survey-69-americans-less-1-171927256.html

Youve butchered the article:

 

In 2019, 69% of respondents said they have less than $1,000 in a savings account compared with 58% in 2018.

 

Completely changes the content.

[Neeranam]

3 minutes ago, bradiston said:

Youve butchered the article:

 

In 2019, 69% of respondents said they have less than $1,000 in a savings account compared with 58% in 2018.

 

Completely changes the content.

My point was Thais have more money saved , relatively to yanks. 

[bradiston]

Just now, Neeranam said:

My point was Thais have more money saved , relatively to yanks. 

No, from what you've quoted, you have absolutely nothing to support that. The 4 year old article only talks about money held in US savings accounts, which my reading tells me are not very good for saving in the first place, and equal numbers of people (33%) save elsewhere.

 

And isn't it 88% of Thais, and 69% (as of 2019) Americans? How many Thais live hand to mouth? Luckily many are still able to. I don't suppose the same can be said of Americans, or Europeans.

 

[Isaan sailor]

I think the 69% of Americans having less than $1,000. In savings accounts is inaccurate at best.  For instance, I too keep very little in my savings accounts.  But I have other assets—stocks, bonds, land and housing.  Some of these assets belong to Thais as well.