Global Correction

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Let us review bingobongo's predictions and advice for the past couple years:

- the weak baht will destroy the Thai condo market

- an oversupply will destroy the Thai condo market

- terrorism in the southern provinces will destroy the Thai condo market

- the tsunami will destroy the Thai condo market

- Thaksin will destroy the Thai condo market

- the US "sub-prime crisis" will destroy the Thai condo market

- the coup will destroy the Thai condo market

- the strong baht will destroy the Thai condo market

- "smart money" will buy in the Viet Nam condo market

- (3 months after the previous post) "dumb money" will buy in the Viet Nam market

Only the last comment proved to be true.

[Crushdepth]

You forgot bingo's post about 'space aliens will destroy the condo market'.

Statistically speaking, if bingo keeps prophesizing doom for long enough, eventually he will have the satisfaction of being right :-) Hey bingo what's your views on this theory: Global energy price increases will crush the world economy thereby indirectly destroying the condo market for the next 15 years or so?

[cclub75]

You forgot bingo's post about 'space aliens will destroy the condo market'.

Statistically speaking, if bingo keeps prophesizing doom for long enough, eventually he will have the satisfaction of being right :-) Hey bingo what's your views on this theory: Global energy price increases will crush the world economy thereby indirectly destroying the condo market for the next 15 years or so?

I shall defend him. Too easy what you're doing here gentlemen. BB, and other people on this forum (included myself), have just advocated one very simple idea (each one with its own style) : nothing is rozy in Thailand, we have some deep and critical imbalances, for the economy and politics as well...

Look around you today... You're happy with the SET ? With the condo market ? With the inflation ? And happy with the political perspectives too ? Do you think that the junta and then the PPP had some good policies ?

And can you deny that we have indeed a serious "global correction" ?

Of course you can. Until the very end, you will deny.

I mean, you look like a club of old ladies having tea and cookies, and talking about war souvenirs.

You should wake up. But you probably won't.

Edited June 20, 2008 by cclub75

[Crushdepth]

I mean, you look like a club of old ladies having tea and cookies, and talking about war souvenirs.

Isn't that what Thaivisa is all about? Handbags at dawn? :-)

All I can tell you is that despite global carnage on the stock markets, the horrendous increase in energy prices, serious inflation problems and the pathetic political situation, the condo market still isn't dead. I'm not saying it won't happen (actually I said it will happen :-), its just that I have yet to see a single rational argument put forward by bingobongo. Personally I am much more concerned about the long term impact of energy prices on the economy than bingo's daily predictions of disaster.

[Firefan]

Well in my case I simply commented on Bingos "predictions". Many of them being done "after the fact".

As to the current economical climate I certainly agree that things do not look good anywhere these days.

Above is however 2 different subjects.

Cheers!

[london]

Bingobongo....

Oh..PLEASE play us another tune !!!

[london]

You forgot bingo's post about 'space aliens will destroy the condo market'.

Statistically speaking, if bingo keeps prophesizing doom for long enough, eventually he will have the satisfaction of being right :-) Hey bingo what's your views on this theory: Global energy price increases will crush the world economy thereby indirectly destroying the condo market for the next 15 years or so?

I shall defend him. Too easy what you're doing here gentlemen. BB, and other people on this forum (included myself), have just advocated one very simple idea (each one with its own style) : nothing is rozy in Thailand, we have some deep and critical imbalances, for the economy and politics as well...

Look around you today... You're happy with the SET ? With the condo market ? With the inflation ? And happy with the political perspectives too ? Do you think that the junta and then the PPP had some good policies ?

And can you deny that we have indeed a serious "global correction" ?

Of course you can. Until the very end, you will deny.

I mean, you look like a club of old ladies having tea and cookies, and talking about war souvenirs.

You should wake up. But you probably won't.

Dear cclub75,

no-one is denying that there are problems in the world, however:

1) even if the world was in an economic boom time, for Bingo it would be the preface to a disaster.... most likely affecting ONLY Thailand;

2) sure, the economic woes of the US and Europe will inevitably affect Thailand as they will the rest of the world, however, please remember that Thailand is part of Asia...

the most dynamic region on the planet;

3) Thailand is now a major international manufacturer.....if you don't believe me, ask GE or Toyota;

4) If there is an downturn in Thailand, it will not be a major event. Asia turns differently to the rest of the planet.

However, if there is a downturn in ANY part of Asia, then expect problems in Thailand.

At present, the problems are predominantly from the US and from the UK....and based mostly on home owners/mortagees.

I don't know where in the world you live cclub75, but if you are in Asia, the general concensus is that the downturn, IF it comes, will be minor. Sure, there is some weakness now, particularly in retailling, but try to buy a cheap DISCOUNTED property. It won't happen.

Re: are you happy with the SET ? With the condo market ? With the inflation ? And happy with the political perspectives too ? Do you think that the junta and then the PPP had some good policies ?

Frankly, the SET is the same as any other stock market around the world..it is manipulated. If you are invested in it, you understand that from the outset and you accept that as a condition of being invested in it. Frankly, I AM invested in it and it is no worse (in fact better) than other markets I am invested in.

The condo market? Please tell me what your pessimistic views are based on? I have property here (condos) and they HAVEN'T gone down in price (repeat: HAVEN'T)..and the rentals are not moving downward..in fact they are rising..so where is the problem?

Inflation: Hello!!! Look at China or Vietnam!!! Inflation here IS an issue, but its not going to be allowed to crush the economy. Thailand was burnt in the 1990's and believe me, neither the Thai government, other governments in Asia or the world bank are going to let it happen again.

Polictics, "junta", PPP: this is Thailand. Unless you are Thai, we are visitors here...guests. This is how much of the world operates. We may not agree with it, or for that matter like it, but it's Thailand. As Asia becomes wealthier, then you will see quantum shifts in the political makeup of all Asian countries...they will become more stable with transparent forms of government.

I have enormous faith in Asia and in Thailand. Frankly, we don't need constant negative posts from the likes of Bingo who try, for whatever reason, to distort the reality of the situation here. Oh, and if you are in doubt, ask Bingo where he actually lives? I bet its NOT Thailand.

[pkrv]

Isn't that what Thaivisa is all about? Handbags at dawn? :-)

OMG I hadn't considered the consequences! You do realise that this means that the shop shelves will be stripped clean! This will cause an imbalance in the earth’s orbit, which will directly affect the sun! The resultant gravitational forces will cause a solar flare that because the distortion to the earths rotation originated in Bangkok will strike it dead center destroying every condominium!

Or perhaps it won't, and the geriatrics (I am 48 do I count?) who have weathered financial storms before will simply ride it out? If the captains of ships were as bonkers, they would scuttle them at the first sight of a storm cloud. Oddly there is a thriving maritime community, who also have their ups and downs.

[BEENTHEREDONETHAT]

That old saying "When in trouble, when in doubt. Run in circles screem and shout"

That fits Bingo perfectly, constantly in a panic. He spends all his time looking for problems so he can say I told you so. He keeps insisting that everyone cares about the SET and looses money when it drops. Ignores everyones corrections and comments and keeps looking for problems and saying I told you so, you bunch of losers.

It seems like a pathetic life you live Bingo. It wouldn't surprise me if you sleep under the bed to be safe. Well keep hunting eventually you will be right about something. Bound to be something bad as that is all you seem to care about. We all sympathise with you for selling your condo at the wrong time (or was that your GF/BF condo?) then moving your money from LOS to the states in time for the sub-prime move. And watch your $ value drop.

How about predicting something before it happens. Would you go short or long on the SET now? And for how long?

[london]

Isn't that what Thaivisa is all about? Handbags at dawn? :-)

OMG I hadn't considered the consequences! You do realise that this means that the shop shelves will be stripped clean! This will cause an imbalance in the earth’s orbit, which will directly affect the sun! The resultant gravitational forces will cause a solar flare that because the distortion to the earths rotation originated in Bangkok will strike it dead center destroying every condominium!

Or perhaps it won't, and the geriatrics (I am 48 do I count?) who have weathered financial storms before will simply ride it out? If the captains of ships were as bonkers, they would scuttle them at the first sight of a storm cloud. Oddly there is a thriving maritime community, who also have their ups and downs.

:D :D

[london]

That old saying "When in trouble, when in doubt. Run in circles screem and shout"

That fits Bingo perfectly, constantly in a panic. He spends all his time looking for problems so he can say I told you so. He keeps insisting that everyone cares about the SET and looses money when it drops. Ignores everyones corrections and comments and keeps looking for problems and saying I told you so, you bunch of losers.

It seems like a pathetic life you live Bingo. It wouldn't surprise me if you sleep under the bed to be safe. Well keep hunting eventually you will be right about something. Bound to be something bad as that is all you seem to care about. We all sympathise with you for selling your condo at the wrong time (or was that your GF/BF condo?) then moving your money from LOS to the states in time for the sub-prime move. And watch your $ value drop.

How about predicting something before it happens. Would you go short or long on the SET now? And for how long?

Hear Hear !!!

Bingo..believe me, we've really ALL had enough.

[pkrv]

You forgot bingo's post about 'space aliens will destroy the condo market'.

Statistically speaking, if bingo keeps prophesizing doom for long enough, eventually he will have the satisfaction of being right :-) Hey bingo what's your views on this theory: Global energy price increases will crush the world economy thereby indirectly destroying the condo market for the next 15 years or so?

I shall defend him. Too easy what you're doing here gentlemen. BB, and other people on this forum (included myself), have just advocated one very simple idea (each one with its own style) : nothing is rozy in Thailand, we have some deep and critical imbalances, for the economy and politics as well...

Look around you today... You're happy with the SET ? With the condo market ? With the inflation ? And happy with the political perspectives too ? Do you think that the junta and then the PPP had some good policies ?

And can you deny that we have indeed a serious "global correction" ?

Of course you can. Until the very end, you will deny.

I mean, you look like a club of old ladies having tea and cookies, and talking about war souvenirs.

You should wake up. But you probably won't.

Dear cclub75,

no-one is denying that there are problems in the world, however:

1) even if the world was in an economic boom time, for Bingo it would be the preface to a disaster.... most likely affecting ONLY Thailand;

2) sure, the economic woes of the US and Europe will inevitably affect Thailand as they will the rest of the world, however, please remember that Thailand is part of Asia...

the most dynamic region on the planet;

3) Thailand is now a major international manufacturer.....if you don't believe me, ask GE or Toyota;

4) If there is an downturn in Thailand, it will not be a major event. Asia turns differently to the rest of the planet.

However, if there is a downturn in ANY part of Asia, then expect problems in Thailand.

At present, the problems are predominantly from the US and from the UK....and based mostly on home owners/mortagees.

I don't know where in the world you live cclub75, but if you are in Asia, the general concensus is that the downturn, IF it comes, will be minor. Sure, there is some weakness now, particularly in retailling, but try to buy a cheap DISCOUNTED property. It won't happen.

Re: are you happy with the SET ? With the condo market ? With the inflation ? And happy with the political perspectives too ? Do you think that the junta and then the PPP had some good policies ?

Frankly, the SET is the same as any other stock market around the world..it is manipulated. If you are invested in it, you understand that from the outset and you accept that as a condition of being invested in it. Frankly, I AM invested in it and it is no worse (in fact better) than other markets I am invested in.

The condo market? Please tell me what your pessimistic views are based on? I have property here (condos) and they HAVEN'T gone down in price (repeat: HAVEN'T)..and the rentals are not moving downward..in fact they are rising..so where is the problem?

Inflation: Hello!!! Look at China or Vietnam!!! Inflation here IS an issue, but its not going to be allowed to crush the economy. Thailand was burnt in the 1990's and believe me, neither the Thai government, other governments in Asia or the world bank are going to let it happen again.

Polictics, "junta", PPP: this is Thailand. Unless you are Thai, we are visitors here...guests. This is how much of the world operates. We may not agree with it, or for that matter like it, but it's Thailand. As Asia becomes wealthier, then you will see quantum shifts in the political makeup of all Asian countries...they will become more stable with transparent forms of government.

I have enormous faith in Asia and in Thailand. Frankly, we don't need constant negative posts from the likes of Bingo who try, for whatever reason, to distort the reality of the situation here. Oh, and if you are in doubt, ask Bingo where he actually lives? I bet its NOT Thailand.

I'm terribly sorry london, this is reasoned argument based on actual experience, this will never do! What you need to do is throw in some bonkers gummy bears who consume paper, but a specific type of paper, Thai Baht notes! The police will be powerless to stop these hords because they are immune to bullets. Because the Thai economy is essentially cash based it will be ruined! Hey presto problem solved!

BTW IMO a ballanced post. Things are not all rosy and thanks for the take from a local perspective. Somehow I think if you never come over it is difficlt to judge what is really happening, and you would be bonkers to make comment.

[AnnyLing]

That old saying "When in trouble, when in doubt. Run in circles screem and shout"

That fits Bingo perfectly, constantly in a panic. He spends all his time looking for problems so he can say I told you so. He keeps insisting that everyone cares about the SET and looses money when it drops. Ignores everyones corrections and comments and keeps looking for problems and saying I told you so, you bunch of losers.

It seems like a pathetic life you live Bingo. It wouldn't surprise me if you sleep under the bed to be safe. Well keep hunting eventually you will be right about something. Bound to be something bad as that is all you seem to care about. We all sympathise with you for selling your condo at the wrong time (or was that your GF/BF condo?) then moving your money from LOS to the states in time for the sub-prime move. And watch your $ value drop.

How about predicting something before it happens. Would you go short or long on the SET now? And for how long?

All of you, including me, are wasting time giving this Bingobongo too much attention. The boorish language he uses when presenting his "facts" should be reason enough to ignore him.

[pkrv]

All of you, including me, are wasting time giving this Bingobongo too much attention. The boorish language he uses when presenting his "facts" should be reason enough to ignore him.

AnnyLing - Don't worry this has been brewing for quite some time. All of us on TV need to know what angle people are coming from. The more professional amongst us are open about our interests in Thailand (some are 'quite colourful'). There are even people involved in Thai real-estate whose views are deeply respected, because they are open about it and we can come to our own conclusions about their motives.

Much like the thread title we also undertake our own form of 'correction'. If a salesman attempts to sell his product here he is pretty much dead meat. With Bonkers it took time to see his true intentions, which were simply to throw in pure contamination into our thought process/discussions.

Negative, Neutral, Positive thought process are all very deeply welcome! But poison and manipulation are most certainly not!

Oddly I would take up Firefan on his offer – You are a newcomer and welcome! If you wish a serious discussion on global correction that is not going to degenerate into fits of hysterics (and look this is now great fun) start a new thread. I can't as I will be perceived to have a vested interest (which actually I don't). It looks like you will get some more serious posts if you do!

Edited June 20, 2008 by pkrv

[london]

I am thinking of starting the "Reverse Bingobongo newsletter"!

Hi Firefan,

YES, PLEASE DO !!!!!!!!

I'm sure it would be an absolute laugh !!

[bingobongo]

a one day bounce does not the downtrend break, today was your chance to sell, 725-730 support on the SET still stands

anyway, grab your ankles folks.........its coming

Edited June 20, 2008 by bingobongo

[BEENTHEREDONETHAT]

As typical Bingo does not answer any of the questions ask. Guess he has no answers.

[AnnyLing]

interesting graph albeit three weeks old:

[glyph]

The graph clearly indicates something bingobongo doesn't believe, and it will be ignored by him and his fanclub.

[LaoPo]

The graph clearly indicates something bingobongo doesn't believe, and it will be ignored by him and his fanclub.

And that 'something' is.........?

LaoPo

[pkrv]

The graph clearly indicates something bingobongo doesn't believe, and it will be ignored by him and his fanclub.

And that 'something' is.........?

LaoPo

Come on Bonkers 'get in there', this is an oportunity to show what you are made of.

[london]

The graph clearly indicates something bingobongo doesn't believe, and it will be ignored by him and his fanclub.

And that 'something' is.........?

LaoPo

Come on Bonkers 'get in there', this is an oportunity to show what you are made of.

he he he

Don't tempt him !!!!

[AlexLah]

Guys the Dollar will collapse and will be replaced by the Americano.

Just a matter of time as I predicted before.

Alex

[pkrv]

Guys the Dollar will collapse and will be replaced by the Americano.

Just a matter of time as I predicted before.

Alex

I am pretty sure it was the Avocado, but could be mistaken.

[midas]

Guys the Dollar will collapse and will be replaced by the Americano.

Just a matter of time as I predicted before.

Alex

I am pretty sure it was the Avocado, but could be mistaken.

Yes I can imagine that the way the USA is going - that even fruit will be more valuable than

the US dollar

[AnnyLing]

here is one for the great prophet:

[Crushdepth]

Guys the Dollar will collapse and will be replaced by the Americano.

Just a matter of time as I predicted before.

Alex

I am pretty sure it was the Avocado, but could be mistaken.

The avacado is already trading at around 50 baht :-)

[LaoPo]

I want to share this info with you.....:

It's from stocktiming.com:

"

Tuesday, June 24th. - Stock Trends, Charts, and Commentary

Stupid Headline of the week ...

At 7 AM yesterday, there there was a rumor that Goldman Sachs was going to downgrade the entire Financial sector.

Around Noon time yesterday, Goldman issued this update: "Goldman Sachs & Co strategists urged stock investors on Monday to "underweight" U.S. financial and consumer shares, admitting it was wrong when it upgraded both sectors just seven weeks ago."

Did that mean the misstated 7 week "underweight" analysis is now right, just starting, of just finishing?

Let's look at the Banking Index to see where it is now.

The Banking Index has been in a capitulation sell off. (Symbol: $BKX)

Yesterday, the index closed at the 60.87 (2002) support.

There is still one 2002 support remaining at 60.36 as seen on the chart. That is now a mere 0.51 points away for today.

Does it stop here? The big test today should be the last 2002 support at 60.36. If it can't hold this level, then the next support is from 1998 ... a support level from 4 years earlier than the 2002 supports. That support is at 50.57 which is 10.3% from the 2002 60.36 level."

If some of you are in denial of what's happening out there...fine with me, but reality is something else than denial.

Maybe it's more serious than some of you are anticipating...who knows ?

I notice some very worrying signals from all over the world that the economy is in a downwards spiral and that's not since a week or two; but hey, who am I ?

The only thing I am sure of is that I advise everybody I know to go & stay cash as much as possible for the time to come and sit still.

But, in the end it's up to every individual him/herself

LaoPo

[Firefan]

Laopo; think you are misreading something if you see a lot of raging bulls around here!

The jokes being cracked (despite the current economic downturn) is simply about Bingobongo's awful timing.

Is a crash coming in some areas? Maybe - and one should certainly position him/herself so ones portfolio can handle that.

Personally I am handling it by having a super diversified portfolio where equities is only 1 part combined with re-balancing more often.

Cheers!

[pkrv]

Laopo; think you are misreading something if you see a lot of raging bulls around here!

The jokes being cracked (despite the current economic downturn) is simply about Bingobongo's awful timing.

Is a crash coming in some areas? Maybe - and one should certainly position him/herself so ones portfolio can handle that.

Personally I am handling it by having a super diversified portfolio where equities is only 1 part combined with re-balancing more often.

Cheers!

Have you ever considered becoming a philosopher Firefan? You are doing quite well ];-)