Is The 1997 Cricis Is Return?

[streetdoggy]

I has found this song from the block of a business men ,I used to work for his company before. Luckily I jump out before the boat sink

This song was originally written by Elton John and also sung at Princess Di's funeral. This 'finance' version was published in Bangkok Post, Sept 1997.

Goodbye Finance One,

I wish I'd never know you at all.

You brought me to ruin,

And I've lost my Benz and all.

Maybe I was greedy,

But I thought I just couldn't lose.

And Pin was so convincing,

Though it clearly was a ruse.

And it seems to me I must live my life

Growing mangoes like before.

No more big expensive dinners,

Back to squatting on the floor.

And if only I'd got out and quit

While I was miles ahead,

I'd still be eating caviar

'stead of wishing I was dead.

I really loved my car,

My "Mia Noi", big fat cigars,

The latest mobile phone,

Drinking wine beneath the stars.

But then it was all gone,

With no one there to lend me a hand,

And my wife has even left me,

Having first transferred the land.

And it seems to me I must live my life

Back in Nakohn-on-the-farm,

With those frumpy country bumpkins

and their dark-skinned toothy charm.

And if only I'd got out and quit

When I was miles ahead,

The banks would not be calling,

Telling me I'm in the red.

Goodbye Finance One,

Why have you given me such pain?

My Gucci shoes were never made

For chasing buses in the rain.

Goodbye Finance One,

I wish I'd never heard your name,

So I curse the wretched farang 'cause there's no one else to blame.

And it seems to me I must live in my life

Eating noodles like before,

No more chauffeur-driven limo,

No more knocking off at four,

But if only I'd got out and quit

While I was miles ahead,

I still might have a candle

To light my way to bed.

[wasabi]

Yes it's returned but for the USA this time.

[gbt71fa]

Yes it's returned but for the USA this time.

You mean the fact that the national deficit has been cut in half?....or that the stock market keeps breaking records (on domestic trading by the way)?...or that unemployment is at its lowest point in over 20 years?...or that hiring for white collar jobs (college graduates, change of current employment) is the highest it has been in a decade?...or that service trade industry jobs is also at its highest point since the 80's?

Edited July 16, 2007 by gbt71fa

[backflip]

"The 1997 Cricis Is Return?"

The 1997 cricis is not return.

[terryp]

You bet it is….Just wait another month or two, lots of Manufacturing bills to be paid and the bottom of the tourist season

Thai baht at these levels is just suicide for the Country…..Government don’t seem bothered

Foreigner bought Housing is going to be affected…The Thai Bourse is going to be the money maker. Until factories start closing down with huge debts

I am already thinking of pulling out of here, just getting far too expensive. By the time all money transfer fees etc have been paid I'm getting almost 25% LESS than last year!!!!!

[bendix]

Nonsense. Just plain nonsense.

There will be many other members who recall the days when the baht was 25 to the dollar and they will tell you what we all know - these things are cyclical.

If you budgeted a comfort level of around 42 to the dollar, then - frankly - you're as idiotic as the mum and dad investors who enter the stockmarkets in their 'third cycle', just in time to see the markets crash.

[Irene]

I has found this song from the block of a business men ,I used to work for his company before. Luckily I jump out before the boat sink

This song was originally written by Elton John and also sung at Princess Di's funeral. This 'finance' version was published in Bangkok Post, Sept 1997.

Goodbye Finance One,

I wish I'd never know you at all.

You brought me to ruin,

And I've lost my Benz and all.

Maybe I was greedy,

But I thought I just couldn't lose.

And Pin was so convincing,

Though it clearly was a ruse.

And it seems to me I must live my life

Growing mangoes like before.

No more big expensive dinners,

Back to squatting on the floor.

And if only I'd got out and quit

While I was miles ahead,

I'd still be eating caviar

'stead of wishing I was dead.

I really loved my car,

My "Mia Noi", big fat cigars,

The latest mobile phone,

Drinking wine beneath the stars.

But then it was all gone,

With no one there to lend me a hand,

And my wife has even left me,

Having first transferred the land.

And it seems to me I must live my life

Back in Nakohn-on-the-farm,

With those frumpy country bumpkins

and their dark-skinned toothy charm.

And if only I'd got out and quit

When I was miles ahead,

The banks would not be calling,

Telling me I'm in the red.

Goodbye Finance One,

Why have you given me such pain?

My Gucci shoes were never made

For chasing buses in the rain.

Goodbye Finance One,

I wish I'd never heard your name,

So I curse the wretched farang 'cause there's no one else to blame.

And it seems to me I must live in my life

Eating noodles like before,

No more chauffeur-driven limo,

No more knocking off at four,

But if only I'd got out and quit

While I was miles ahead,

I still might have a candle

To light my way to bed.

streetdoggy,

Thank you. That made my day.

[VegasVic]

Yes it's returned but for the USA this time.

You mean the fact that the national deficit has been cut in half?....or that the stock market keeps breaking records (on domestic trading by the way)?...or that unemployment is at its lowest point in over 20 years?...or that hiring for white collar jobs (college graduates, change of current employment) is the highest it has been in a decade?...or that service trade industry jobs is also at its highest point since the 80's?

Its both amusing and amazing how many folks here on thaivisa are so completely ignorant on how well the U.S. economy is doing, and how comfortable life is in the states. I do feel very bad for those that decided to make the permanent move to the LOS and are on a fixed income denominated in U.S. dollars, but the current baht is propped up at an atificial level by forces outside of Thailand (this will change in the not too distant future), and towards the end of last week the rhetoric from the Thai P.M. and the BOT makes me think that they are finally serious about making every attempt to try and soften the baht. The baht has appreciated to such a degree that even the Thai government has come out publically and admited that any further appreciation will have a devestating effect on the export sector and the Thai economy as a whole. This crisis is in many ways different than 1997 (and the aftermath will likely be less severe), when the fallout comes there will likely be a minor selloff on the SET(20%) and the baht will do an about face back to the 38-40 range, but I wouldn't expect anything like 1997(like the baht back at 50+/dollar).

[cclub75]

Its both amusing and amazing how many folks here on thaivisa are so completely ignorant on how well the U.S. economy is doing, and how comfortable life is in the states.

but the current baht is propped up at an atificial level by forces outside of Thailand (this will change in the not too distant future), and towards the end of last week the rhetoric from the Thai P.M. and the BOT makes me think that they are finally serious about making every attempt to try and soften the baht.

Sure. It's obvious that the US are going, next week, to solve their :

-debt problem

-trade deficit problem

-confidence crisis toward USD problem

I agree with you that the THB issue has nothing to do with Thailand. But again, to expect that USD is going to surge by 10 or even 5 % on the short term, against Yen, RMB, Euro and GBP is pure wishfull thinking...

As for Thailand, well... what could they do ? At that point, they don't have a lot of options :

-total control over exchange rate, back to the bad old recipes

-or a more creative and modern solution : the japanese scheme : interest rates at zero in order to initiate a carry trade movement on the THB. People would borrow THB like crazy, and sell them against any high yield currencie, leading to a depression of the THB value.

Anyway. Be confident. Tarisa, BOT governor, and Surayud, the Prime Minister, do control the situation. They are doing a lot of meetings !

Edited July 17, 2007 by cclub75

[PeaceBlondie]

.....I agree with you that the THB issue has nothing to do with Thailand. But again, to expect that USD is going to surge by 10 or even 5 % on the short term, against Yen, RMB, Euro and GBP is pure wishfull thinking...

........Anyway. Be confident. Tarisa, BOT governor, and Surayud, the Prime Minister, do control the situation. They are doing a lot of meetings !

Thais are great about having meetings. Currency exchange, however, is an international game, a high-stakes lottery, and those good folks like Tarisa and Surayud cannot completely control the situation.

I don't think the US$ is going to fully recover from its rates against the euro and the pound, but surely the baht is overvalued even against the US$. And Shirley, Tarisa and Surayud want to see the baht get weaker than the 30:1 ratio it's headed toward right now.