The Pain Begins

[GuestHouse]

This is not unique to Thailand. These same people you are referring to, are the same ones that are financial challenged in their home countries. Thailand has little to do with it - just a different story. Most would still manage to squander their savings back home and have to work into their early twilight years.

In Thailand or in Rome, live within your means. If not, you are living a dream that could turn into a nightmare.

I don't disagree that this can happen anywhere, I simply say it is far more likely to happen in Thailand.

What I do agree with is the statement These same people you are referring to, are the same ones that are financial challenged in their home countries. - the basis of which is that people who make a mess of themselves would have done so back home or that smart people will not mess up in Thailand.

It is my observation that 'smart' guys are just as likely to mess up as the dumb ones - perhaps more so where they believe themselves above making such mistakes.

My views are of course personal, but they are based on having lived in both Thailand AND Rome.

[Pib]

I, for one, didn't have a very good week with a total of near to 4.5 percent wiped off my Australian income investments. Someone in the US mentioned the dreaded "R" word, the US stock market sneezed and the rest of the western world is getting pneumonia.

I fully expect a worse week to come. IMO it's about time the major world markets stop relying on happenings in the USA and starts looking at the overall situation. Let the Americans sort out their own problems.

Let's face it...we now live in a global economy where exports and imports between countries, and major companies having a worldwide presence drive major inter dependencies between stock markets in different countries. And the currency FX trading is also now a bigger factor than ever in how stocks perform in a world economy. Countries go through business cycles many times triggered/accelerated by certain events (e.g., change in governments, subprime lending, 9-11, etc) and when the largest economy on Earth goes down, numerous other economies (not all) are no doubt going to follow that downward trend in some form and fashion. Welcome to a globalized economy...a year or two from now, it will be another country/region driving worldwide stock market fluxuations as that country/region sort out their economic issues. Cheers.

[siamamerican]

It is my observation that 'smart' guys are just as likely to mess up as the dumb ones - perhaps more so where they believe themselves above making such mistakes.

My views are of course personal, but they are based on having lived in both Thailand AND Rome.

Hmmm, I have a different definition of "smart". Among other characteristics, smart people comprehend that they aren't all knowing.