Household debt in Thailand soars to 86.9% of GDP, dampening consumer spending

[itsari]

3 minutes ago, h90 said:

I would not trust any bank guarantee if there is some big collapse. If the money is on the bank but you can't exchange it and the THB devalues rapid you still loose.

Better something than nothing 

[Gumballl]

Thailand has always had a problem with managing debt; it is not really much different in other countries. The only difference is in Thailand it leads the young ones to take on an extra job.

 

I ain't complaining!

 

Edited June 22, 2023 by Pink Mist
Trolling meme photo removed

[SoilSpoil]

1 hour ago, billd766 said:

Good idea.

 

Blame Thaksin who has been out of power since 2006. You could even blame it on his family who last legally held power in 2009.

 

Your deity forbid blaming the military for the coups in 2006 and 2014 and the last coup government has been in power since 2014, some 9 years.

 

Jephraim Gundzik August 02, 2004

 

Read more at: https://www.financeasia.com/article/thailands-economic-populism/28909

 

Can you not find a newer article than this one?

 

It is 19 years old and times have changed since then, including 2 military coups, and Thaksin has not been in power for 17 years.

 

 

Well, that doesnt change the fact that Thailand's household debt was rising far before the junta came to power.

[MrMojoRisin]

40 minutes ago, SoilSpoil said:

Well, that doesnt change the fact that Thailand's household debt was rising far before the junta came to power.

Thai household debt was fairly stable during Thaksin’s premiership with only a gradual trend upwards after an initial sharp downturn in 2001.

 

The real trouble began with the junta puppet Abhisit’s tenure beginning in 2008.

 

Yet another statistic highlighting the damage the anti democracy coups have inflicted upon Thailand through lost opportunities caused by unelected fools helming the ship.

 

Edited June 22, 2023 by MrMojoRisin

[billd766]

1 hour ago, SoilSpoil said:

Well, that doesnt change the fact that Thailand's household debt was rising far before the junta came to power.

But what was the level before the coups?

[watchcat]

On 6/19/2023 at 7:24 AM, ThailandRyan said:

One has to wonder what people own the local loan sharks in addition to the banks.

RTP ?

[SoilSpoil]

54 minutes ago, MrMojoRisin said:

Thai household debt was fairly stable during Thaksin’s premiership with only a gradual trend upwards after an initial sharp downturn in 2001.

 

The real trouble began with the junta puppet Abhisit’s tenure beginning in 2008.

 

Yet another statistic highlighting the damage the anti democracy coups have inflicted upon Thailand through lost opportunities caused by unelected fools helming the ship.

 

Wow, you conveniently skip the Yingluck tenure and her populist policies such as the car purchasing scheme. Nothing too low to defend your elected and o so corrupted (500 baht for your vote) Shin dynasty. Fools helming the ship is something I agree on, but doesnt a country get the leaders it deserves.

[SoilSpoil]

33 minutes ago, billd766 said:

But what was the level before the coups?

Which one of the 17 coups do you mean?

[Pink Mist]

A post on moderation has been removed 

 

13. You will not publicly comment on moderation in an open forum. You will not comment on actions taken by individual moderators or on specific or general policies and issues. You will not post a negative emoticon in response to a public notice made by a moderator. You may send a private message to a moderator to discuss individual actions or you can email support (at) aseannow.com to discuss moderation policy and account suspensions. Aggression or abuse against moderators is not tolerated and any such action will be sanctioned. There is no excuse for abuse.

[Eric Loh]

13 minutes ago, SoilSpoil said:

Wow, you conveniently skip the Yingluck tenure and her populist policies such as the car purchasing scheme. Nothing too low to defend your elected and o so corrupted (500 baht for your vote) Shin dynasty. Fools helming the ship is something I agree on, but doesnt a country get the leaders it deserves.

The car discount scheme came about after the big flood which resulted in many car manufacturers losing revenue and considered moving out. The scheme resulted in high sales and enable car manufacturers to recoup their losses and rethink moving out of Thailand. 

[MrMojoRisin]

12 minutes ago, SoilSpoil said:

Wow, you conveniently skip the Yingluck tenure and her populist policies such as the car purchasing scheme. Nothing too low to defend your elected and o so corrupted (500 baht for your vote) Shin dynasty. Fools helming the ship is something I agree on, but doesnt a country get the leaders it deserves.

Comprehension issues?

 

The uptick commenced (the economic wheels fell off) after the coups began - yes this period includes Yingluck’s abbreviated administration.

 

Anyone still gibbering on about disproven and debunked bought elections is not a serious, reality based individual.

 

In a democracy, people get the government they deserve. Unelected demagogues with guns committing coups are not the peoples fault.

[h90]

1 hour ago, MrMojoRisin said:

Thai household debt was fairly stable during Thaksin’s premiership with only a gradual trend upwards after an initial sharp downturn in 2001.

 

The real trouble began with the junta puppet Abhisit’s tenure beginning in 2008.

 

Yet another statistic highlighting the damage the anti democracy coups have inflicted upon Thailand through lost opportunities caused by unelected fools helming the ship.

 

It is a bit small but for me looks like being first flat with the junta, than huge increase with covid and now falling with the junta.

What the government did during Covid was really bad....but pretty much every government was bad, beside some weird countries like Belarus, Tanzania (had lots of tourists as it was one of the few open countries), maybe Sweden.
But I am not sure...would need to put vertical lines with the governments to be sure.
I also see some big increase during Thaksin times.

[GarryP]

4 minutes ago, h90 said:

It is a bit small but for me looks like being first flat with the junta, than huge increase with covid and now falling with the junta.

What the government did during Covid was really bad....but pretty much every government was bad, beside some weird countries like Belarus, Tanzania (had lots of tourists as it was one of the few open countries), maybe Sweden.
But I am not sure...would need to put vertical lines with the governments to be sure.
I also see some big increase during Thaksin times.

Bloody hell. I actually agree with most of one of your posts. I better go out and buy a lottery ticket. 

[h90]

14 minutes ago, GarryP said:

Bloody hell. I actually agree with most of one of your posts. I better go out and buy a lottery ticket. 

That is not good....normally no one agree with my postings

[billd766]

2 hours ago, SoilSpoil said:

Which one of the 17 coups do you mean?

Poor try at deflection.

 

IIRC I was talking about when Thaksin was legally the PM so that would have been the 2006 military coup.

 

He was in the police from 1974 until  1987 and didn't get into politics until 1998 when he founded the TRT. It could only have been the coup which deposed him in 2006.

 

 

[SoilSpoil]

3 hours ago, Eric Loh said:

The car discount scheme came about after the big flood which resulted in many car manufacturers losing revenue and considered moving out. The scheme resulted in high sales and enable car manufacturers to recoup their losses and rethink moving out of Thailand. 

Indeed, but also pushed household debt levels further up.

[SoilSpoil]

1 hour ago, billd766 said:

Poor try at deflection.

 

IIRC I was talking about when Thaksin was legally the PM so that would have been the 2006 military coup.

 

He was in the police from 1974 until  1987 and didn't get into politics until 1998 when he founded the TRT. It could only have been the coup which deposed him in 2006.

 

 

The 2006 coup was an indirect result of Thaksin amending the constitution for personnal gains. Do you remeber the Temasek deal?

[billd766]

12 minutes ago, SoilSpoil said:

The 2006 coup was an indirect result of Thaksin amending the constitution for personnal gains. Do you remeber the Temasek deal?

Have you forgotten how EVERY coup generals grant an amnesty for all past, present and future acts.

 

It gets written into every new constitution they witr after they tear the old one up after every coup.

 

Have you also forgotten that not one coup general has ever been punished for any coup going back to 1932.

 

Yet Thaksin, Yingluck have been jailed and exiled for their alleged crimes.

 

No amnesties for them, even though they were legally elected.

 

Yes I remember the Temasek deal

 

Do you remember the army killing redshirts in Bangkok? Guess who was the army chief at that time? Not that it matters as he stole the country from the legal government and what a surprise, self granted himself and his cronies an amnesty.

 

Do you remember the Tak Bai incident?

 

https://en.wikipedia.org/wiki/Tak_Bai_incident

 

Who was the army chief at the time?

[Eric Loh]

45 minutes ago, SoilSpoil said:

Indeed, but also pushed household debt levels further up.

I can agree with that but the scheme was not a populist policy. 

[SoilSpoil]

39 minutes ago, billd766 said:

 

 

Do you remember the Tak Bai incident?

 

https://en.wikipedia.org/wiki/Tak_Bai_incident

 

Who was the army chief at the time?

More important: who was the PM at that time?