Prime Minister Srettha should listen to the experts on cash handout

[mikebell]

6 hours ago, arithai12 said:

I thought the main reason why farang pensioners bring in their savings or pensions is to enjoy a better life than back in their home country. I didn't know it is actually to help Thailand's economy, thanks for this insight.

'Farang pensioners bringing in their savings to which help(s) power the local economy.'  Does this change help you understand?

[Mike Lister]

6 hours ago, arithai12 said:

I thought the main reason why farang pensioners bring in their savings or pensions is to enjoy a better life than back in their home country. I didn't know it is actually to help Thailand's economy, thanks for this insight.

 

1 minute ago, mikebell said:

'Farang pensioners bringing in their savings to which help(s) power the local economy.'  Does this change help you understand?

Thailand first tried to attract foreigners to live here for the same reasons other countries do the same. They wanted them to deposit foreign currency into the banking system, this helped capitalise the banks and helped increase BOT's foreign currency reserves. Over time, BOT's reserves grew such that retirees income was no longer a meaningful factor in their growth plus Thai banks grew their balance sheets such that it achieved the same end. Meanwhile, the expat retiree community grew in numbers and began to include nationalities that weren't previously included. Today, the retirement visa is probably slightly more trouble to the authorities than it's worth which is why they have no difficulty raising the thresholds and increases the financial amounts involved. That said, retiree money in Thailand is still a nice to have but I calculate it's not much more than 2 or 3% of GDP. I'm not sure how much that money powered local economies historically because most retirees used to congregate in the tourist hotspots such as Pattaya, Phuket and Bangkok. It's only in the past 15 years or so that Chiang Mai has joined that list and only in the last five or ten that any significant number of farangs have moved to Issan because it's a cheaper destination.

[SingAPorn]

Money will flow in once they start to enforce the income tax on foreign income after 180 days of stay and punish all farang tax residets.....so might as well start spending government money straight away.

[kwilco]

15 hours ago, Mike Lister said:

Government borrows more to pay for their financial incentives and public debt soars from the current 60% to over 80%. Borrowings have to be serviced, interest paid on the debt and the capital repaid which stresses budgets. The higher debt levels puts downward pressure on the Baht, imported oil costs them more so this results in higher borrowings, eg The Fuel Subsidy Fund debt which becomes unaffordable and is removed, costing consumers more and causing consumer debt levels to increase which in turn stresses the banks. A weaker currency results in exports earning less, that means less income for exporters and less money flowing into the Foreign Currency Reserves which begin to reduce. Budgets are reduced, services are cut, debt increases and the currency devalues itself under the strain.

Whereas the decision by the Thai government is questionable, your schoolboy , capitalist interpretations are also risible. You are one of those people who "knows' lots but understands nothing.

[Mike Lister]

1 minute ago, kwilco said:

Whereas the decision by the Thai government is questionable, your schoolboy , capitalist interpretations are also risible. You are one of those people who "knows' lots but understands nothing.

Oh, OK then!

 

Er, I'd have thought that rather than attacking the poster and resorting to name calling, you might have been better off attacking the post and explaining why you think it's incorrect and even, even, putting forward your own views.....too much to ask I suppose, too difficult I imagine, oh well, maybe after you've slept it off you'll feel differently.. 

[kwilco]

3 hours ago, Mike Lister said:

Oh, OK then!

 

Er, I'd have thought that rather than attacking the poster and resorting to name calling, you might have been better off attacking the post and explaining why you think it's incorrect and even, even, putting forward your own views.....too much to ask I suppose, too difficult I imagine, oh well, maybe after you've slept it off you'll feel differently.. 

To argue against a post, it needs to have something worth debating and a person capalbe of doing so. ...and if you think attackinng an ex=conomic theory is "personal" than QED

[TimeMachine]

On 10/12/2023 at 12:06 PM, bob smith said:

silly policy that will bankrupt the economy.

 

where does he think the money is going to come from to finance it?

 

I wish you the best, Thailand.

 

Everything that will happen to you in the foreseeable future is of your own making.

Where does the money come from? It is not like rice. It doesn't have to be watered or grown or come from anywhere. Money can be created by a simple decision by the ones who rule over the decisions. And the talk about it ruining the economy. Giving poor people money to make their lives easier doesn't ruin an economy. Giving an amount of money to people that makes them stop being slaves to community ruins the rich/poor economy. The divide between the richest and poorest must be one of the biggest in Thailand. There is surely some wiggle room. But from what I've seen amongst rich people- they are mostly super tight for half a dollar.

[Mike Lister]

2 hours ago, kwilco said:

To argue against a post, it needs to have something worth debating and a person capalbe of doing so. ...and if you think attackinng an ex=conomic theory is "personal" than QED

So you don't think that increased spending will lead to increased debt, really? Or is it that you don't think that increased debt will lead to a weaker currency? Put your toys back in the pram and start debating the topic and let's see what you think is wrong about the chain of events I suggsted.

[TimeMachine]

3 hours ago, Mike Lister said:

So you don't think that increased spending will lead to increased debt, really? Or is it that you don't think that increased debt will lead to a weaker currency? Put your toys back in the pram and start debating the topic and let's see what you think is wrong about the chain of events I suggsted.

I think if a government could really go into true debt then their offices and vehicles would be repossessed by the sheriff for starters. I find it bizarre that people get sucked into this government country debt cry. The role of the government is simple. Create a rich poor divide so people work the jobs that need doing. It's not about debt at all. It's a tool to fool. The debt figures flown around is simply a measure of how much the rich have taken away from the poor through their hard work and determination. 

Edited October 13, 2023 by TimeMachine

[Mike Lister]

5 minutes ago, TimeMachine said:

I think if a government could really go into true debt then their offices and vehicles would be repossessed by the sheriff for starters. I find it bizarre that people get sucked into this government country debt cry. The role of the government is simple. Create a rich poor divide so people work the jobs that need doing. It's not about debt at all. It's a tool to fool. The debt figures flown around is simply a measure of how much the rich have taken away from the poor through their hard work and determination. 

Yawn. ????

 

A country or government debt is no different from household debt, it's a sign that somebody is living beyond their means. If the household budget in in deficit mid month, it isn't because somebody has taken money away from the family, it's because the family spent too much!

Edited October 13, 2023 by Mike Lister

[TimeMachine]

1 hour ago, Mike Lister said:

Yawn. ????

 

A country or government debt is no different from household debt, it's a sign that somebody is living beyond their means. If the household budget in in deficit mid month, it isn't because somebody has taken money away from the family, it's because the family spent too much!

In this case we are talking about a situation where family's are not spending anything except on rent bills and food. Is that beyond a budget of any use to a decent life while governments are creating money out of taxes to buy submarines. Haha. Sorry to laugh but it's just Craziness.

[Mike Lister]

3 minutes ago, TimeMachine said:

In this case we are talking about a situation where family's are not spending anything except on rent bills and food. Is that beyond a budget of any use to a decent life while governments are creating money out of taxes to buy submarines. Haha. Sorry to laugh but it's just Craziness.

First your problem is the rich poor divide which then morphed into the need for governments to buy submarines, it's unclear what your primary concern might be.

[TimeMachine]

Just now, Mike Lister said:

First your problem is the rich poor divide which then morphed into the need for governments to buy submarines, it's unclear what your primary concern might be.

You are kidding me, No?

Primary concern is dumb excuses not to help the less advantaged. Oh but the budget, but inflation, butt , my axx!

[TimeMachine]

On 10/12/2023 at 12:09 PM, jacko45k said:

Countries have been giving out free money for many many years... they are called benefits in the West. They come from taxes,,,,,, and coincidentally, Thailand appears to be dreaming up a few new ones of those!

I wouldn't call it free money. Some people work really shippy jobs for little money. Call it reward money for the better half.

After all everyone pays money to the government from sales taxes. I guess it's an apology from the government for not using taxes well enough. Maybe apology money. Keep it real people and be honest with yourself at the very least.

[Mike Lister]

1 minute ago, TimeMachine said:

You are kidding me, No?

Primary concern is dumb excuses not to help the less advantaged. Oh but the budget, but inflation, butt , my axx!

No, I'm not.

 

"Dumb excuses not to help the less advantaged". Government subsidizes the cost of diesel by 25% which costs the country a small fortune but helps farmers and small business; during covid it paid out money to poorer households where the income earner had paid Social Security previously; the poor have free health care; they are able to settle untitled land and make it there own; there are debt restructuring programs to help them manage their money; produce grown by rural farmers is most often sales price protected and/or subsidized; schooling and university fees are subsidised and low interest loans given over many years; there are countless agencies and departments who provide training, job skilling etc. Short of giving every poor person in the country a huge wad of money that they would blow in the blink of an eye, what else would you have government do for them? 

 

On the other hand, covid/inflation giveaways have caused massive economic problems for almost every country that engaged, Western economies are sinking under the debt, managing that debt is critical to the poor much more so than just giving them more handouts to fritter away.

 

BTW, the submarine costs 13.6 Million Baht or USD 395 mill., Thai GDP is about USD 510 Billion.

 

 

 

[jacko45k]

5 minutes ago, TimeMachine said:

I wouldn't call it free money.

So they pay for it? 

You are taking us off topic.

[TimeMachine]

6 minutes ago, jacko45k said:

So they pay for it? 

You are taking us off topic.

Yes they do pay. Explained clearly in my previous off topic post. I have explained but as they say, I can't make u understand.

[jacko45k]

3 minutes ago, TimeMachine said:

Yes they do pay. Explained clearly in my previous off topic post. I have explained but as they say, I can't make u understand.

Sorry, not looking for an argument this morning.

[TimeMachine]

Just now, jacko45k said:

Sorry, not looking for an argument this morning.

I'll take that as an agree to disagree. That's totally fair. I find I discuss or argue with the middle class side on this topic  and they won't understand and I'm resigned to do the same. It's an Israel Palestine situation. Each will think they are right and they are both right depending on which side they sit. Enjoy your day all.

 

[Purdey]

On 10/12/2023 at 7:45 PM, sirineou said:

A different take on the subject

Interesting. Thanks.