mommysboy Posted May 14, 2010 Share Posted May 14, 2010 The pound climbed a whole baht the day of the Coalition going into power to something around 48.70 but sloped off badly yesterday back to 47.27 baht.In the words of Jack Bauer - "Damnit!" Merv the Swerv talking it down again, as if it needs much encouragement. I'm truly shocked to see it dip so much. If there wasn't a civil war in Thailand, who knows how low it would be. What civil war?.post a link as proof of civil war or stop posting crap, there's enough of that crap in the political threads.. sod awwff! Link to comment Share on other sites More sharing options...
mommysboy Posted May 15, 2010 Share Posted May 15, 2010 Nothing on both sides of the equation makes sense to me. The markets crave a cost cutting govt. with a credible plan to reduce the deficit, they get it, the pound goes in to sharp decline. Meanwhile on the other side, we're told Thailand is booming, but GDP is being revised downwards, there apears to now be a civil war, the crops are failing, hotels empty, and poster after poster paints a picture far and away removed from the economic miracle they'd have us believe. A very puzzled What's going on? Link to comment Share on other sites More sharing options...
thaibeachlovers Posted May 15, 2010 Share Posted May 15, 2010 The pound climbed a whole baht the day of the Coalition going into power to something around 48.70 but sloped off badly yesterday back to 47.27 baht.In the words of Jack Bauer - "Damnit!" Merv the Swerv talking it down again, as if it needs much encouragement. I'm truly shocked to see it dip so much. If there wasn't a civil war in Thailand, who knows how low it would be. You'll get 46.6 today for travellers cheques ( higher than cash ). I give up. I'll not buy anything in Thailand that I don't absolutely have to ( not that they'll notice ). No massages of any sort, no lady drinks, no barfines, no fish spas, no meals in hotels, no crappy rubbish from hawkers, no full price CDs/ DVDs- oh wait, I never bought any of those anyway, LOL. I doubt any of us will see the good ol days of 70+ again. Link to comment Share on other sites More sharing options...
mommysboy Posted May 15, 2010 Share Posted May 15, 2010 The pound climbed a whole baht the day of the Coalition going into power to something around 48.70 but sloped off badly yesterday back to 47.27 baht.In the words of Jack Bauer - "Damnit!" Merv the Swerv talking it down again, as if it needs much encouragement. I'm truly shocked to see it dip so much. If there wasn't a civil war in Thailand, who knows how low it would be. You'll get 46.6 today for travellers cheques ( higher than cash ). I give up. I'll not buy anything in Thailand that I don't absolutely have to ( not that they'll notice ). No massages of any sort, no lady drinks, no barfines, no fish spas, no meals in hotels, no crappy rubbish from hawkers, no full price CDs/ DVDs- oh wait, I never bought any of those anyway, LOL. I doubt any of us will see the good ol days of 70+ again. Me too- very sensible strategy, and I'm aiming to more earnings in US and Oz dollars. Been looking for reasons. Seems the latest drop in sterling is due to fiscal policy announcements which probably refers to the fact that Merv Swerv said interest rates won't rise for a long while. But really, it just seems any excuse will do. Some commentators say it has bottomed out against the dollar while others predict 1.35. The baht is said to be weakening already! Link to comment Share on other sites More sharing options...
Gambles Posted May 16, 2010 Share Posted May 16, 2010 (edited) The pound climbed a whole baht the day of the Coalition going into power to something around 48.70 but sloped off badly yesterday back to 47.27 baht.In the words of Jack Bauer - "Damnit!" Merv the Swerv talking it down again, as if it needs much encouragement. I'm truly shocked to see it dip so much. If there wasn't a civil war in Thailand, who knows how low it would be. more to do with the problems than any rhetoric Baht would most likely be 5-10% stronger in line with other Asean currencies... Pornnalat Prachayakorn - Political risk curbs country's potential Published: 30/04/2010 at 12:00 AM Political risk curbing country's potential Thailand might fail to capitalise on its strengths to become one of the best investment markets in Asia if political risk continues to affect the country's economy, according to Scott Campbell, an S&P award-winning fund manager. Foreign investors remain bullish on the growth of emerging markets including Asia, Mr. Campbell said at a briefing in Bangkok this week. ''Asia along with other emerging markets will continue to be the best place for investment for the next 30 to 40 years,'' said Mr. Campbell, director of the international fund manager MitonOptimal. ''Over the past 10 years, the stock market in the west has done nothing while Asian stock markets have grown three- to fourfold.'' Although Thailand's economic fundamentals are attractive, political risk is seen as the major obstacle on the path to a better economic position. Mr Campbell said that since April last year, there has been a significant rebound in Asian currencies. ''Currency is a barometer of political risk and the Thai baht has been pretty much flat [trade-weighted basis] since last year,'' he said. ''If the political risk gets sorted out, then you'll see the Thai baht appreciate just to catch up with what everything else has done.'' The fundamentals for the whole Asian region are still very positive but Thailand could lag because of political instability, he added. Paul Gambles, managing director of the consultancy MBMG International Co, said Thailand started to underperform the rest of the region in 2004, when political tensions first began to affect the economy. ''Thailand's economy has significantly underperformed over the last few years. This can be best be seen by comparing Thailand's economic growth, foreign-exchange rates and stock market valuations with those of comparable economies in Southeast Asia,'' he said. Mr Gambles quoted John Sheehan of the consultancy Global Market Asia, who observed that growth rates in a number of Asean neighbours had not only caught up, but had overtaken that of Thailand. ''If you take the superior GDP growth rate of a jurisdiction like the Philippines and apply this higher rate to Thailand's growth from 2005, it can be seen that by the end of 2008 Thailand's GDP would be somewhere between US$30 billion and $40 billion higher,'' Mr Gambles said. Edited May 16, 2010 by Gambles Link to comment Share on other sites More sharing options...
Gambles Posted May 16, 2010 Share Posted May 16, 2010 Looks like the pound is going the way of the Euro...and I think the dollar will soon suffer the same fate! They can't really all drop against each other ... at the same time welcome to the new normal - all indebted/deficit currencies bad, all surplus currencies good... Link to comment Share on other sites More sharing options...
mommysboy Posted May 17, 2010 Share Posted May 17, 2010 Looks like the pound is going the way of the Euro...and I think the dollar will soon suffer the same fate! They can't really all drop against each other ... at the same time welcome to the new normal - all indebted/deficit currencies bad, all surplus currencies good... I guess so. And indeed still even greater falls. It seems this is the only measure the market uses. You'd have thought a civil war might have had a touch of influence. And what of Thailand's growth, tourism decimated and isn't Toyota going on short time? how does that fit in with boom time. Link to comment Share on other sites More sharing options...
osimon Posted May 17, 2010 Share Posted May 17, 2010 Clothes like t-shirts & cheap day wear can be got in Uk much cheaper & better quality than Thailand.Thailand is not nearly as cheap as people think imo. It probably very much depends on where in Thailand you are. I am in Mae Sot and on the burmese markets here you would pay less than B50 for a T-Shirt ... you couldn't get anything for at least 4 times that amount in my home country (Austria). Being in a civil war, I would expect the Baht going south though anyway ... Otto Link to comment Share on other sites More sharing options...
gharknes Posted May 17, 2010 Share Posted May 17, 2010 thai baht grows stronger 1euro now 39.9 1gbp 46.7 where would this be if there was no trouble in thailand, people living on pensions from europe/UK must be feeling it real bad now, Link to comment Share on other sites More sharing options...
schmutzie Posted May 17, 2010 Share Posted May 17, 2010 I guess we should now adjust the thread title to: "Pound momentarily peaks at 47.99 - Buy Now!" Link to comment Share on other sites More sharing options...
Gambles Posted May 18, 2010 Share Posted May 18, 2010 Looks like the pound is going the way of the Euro...and I think the dollar will soon suffer the same fate! They can't really all drop against each other ... at the same time welcome to the new normal - all indebted/deficit currencies bad, all surplus currencies good... I guess so. And indeed still even greater falls. It seems this is the only measure the market uses. You'd have thought a civil war might have had a touch of influence. And what of Thailand's growth, tourism decimated and isn't Toyota going on short time? how does that fit in with boom time. Fair point, MB, but the FDI drought will cause future not immediate potential losses Link to comment Share on other sites More sharing options...
wayfarer108 Posted May 24, 2010 Share Posted May 24, 2010 "Well, in and out and up and down, That's the way the money goes, and whether the pound will finally stop... Nobody really knows!" -- Bill Bailey Link to comment Share on other sites More sharing options...
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