Just a quick Poll,with the intentions of perhaps getting a small insight into past Banking Disasters and the Credit Crunch,Pension Reductions etc. to see what effects (if any) has been noticed by the Ex Pat Community of Thailand.

Please remember this is your perception,and interpretation.

So a fortune by some standards,may only be Peanuts to someone else.

Use your own discretion.

Edited January 3, 201115 yr by MAJIC

I am £150/200k down and that stalls some of my plans for up to 3 years.

The main issue/fear is the ability to recover those losses in markets that will not be favourable.

Edited January 3, 201115 yr by cardholder

I am £150/200k down and that stalls some of my plans for up to 3 years.

The main issue/fear is the ability to recover those losses in markets that will not be favourable.

Sorry to hear that,

that's a helluva lot.

the aftermath of the financial crisis presented me with investment opportunities which don't come often in an investor's life time. it did however not at all affect my standard of living.

Can you share with your friends here on thaivisa Naam???

No way to vote if you were unaffected. the poll only relates to those who either lost or made a fortune in Thailand.

Try again

I was lucky to have most of my savings in cash during the financial crisis. The exception being a mutual fund which dropped 20% but is now up 10% so no loss there (in fact a nice profit). After the crash i put alot into the Thai stock exchange and- like naam- have therefore done very well as a result of the crisis.

Can you share with your friends here on thaivisa Naam???

i "shared" 1½ years ago (don't remember which thread) but except one member (Abrak) nobody was interested. it's anyway water under the bridge but... quite mouthwatering even in hindsight. to make a long story short, starting feb/mar 2009 you could buy subordinated and in some cases even senior bonds of financial institutions or quasi-sovereigns for a fraction of their price. most of them not only doubled but tripled and quadrupled within a few months.

take a look at these three charts which are not unique, i could list two dozen more:

http://www.comdirect.de/inf/anleihen/detail/chart_big.html?ID_NOTATION=24235519&timeSpan=range&chartType=CONNECTLINE&openerPageId=anleihen.detail.chart.middle&BRANCHEN_FILTER=false&ID_NOTATION_INDEX=&fromDate=12.08.2008&toDate=05.01.2011&interactivequotes=true&useFixAverage=true&fixAverage0=0&fixAverage1=0&freeAverage0=&freeAverage1=&freeAverage2=&chartIndicator=&indicatorsBelowChart=VOLUME&indicatorsBelowChart=

http://www.comdirect.de/inf/anleihen/detail/chart_big.html?ID_NOTATION=13774768&timeSpan=range&chartType=CONNECTLINE&openerPageId=anleihen.detail.chart.middle&BRANCHEN_FILTER=false&ID_NOTATION_INDEX=&fromDate=04.01.2008&toDate=05.01.2011&interactivequotes=true&useFixAverage=true&fixAverage0=0&fixAverage1=0&freeAverage0=&freeAverage1=&freeAverage2=&chartIndicator=&indicatorsBelowChart=VOLUME&indicatorsBelowChart=

http://www.comdirect.de/inf/anleihen/detail/chart_big.html?ID_NOTATION=15220557&timeSpan=range&chartType=CONNECTLINE&openerPageId=anleihen.detail.chart.middle&BRANCHEN_FILTER=false&ID_NOTATION_INDEX=&fromDate=04.01.2008&toDate=05.01.2011&interactivequotes=true&useFixAverage=true&fixAverage0=0&fixAverage1=0&freeAverage0=&freeAverage1=&freeAverage2=&chartIndicator=&indicatorsBelowChart=VOLUME&indicatorsBelowChart=

No way to vote if you were unaffected. the poll only relates to those who either lost or made a fortune in Thailand.

Try again

i just saw 6 dots under your avatar Hoss. what to do?

It's a Silly poll. It won't allow me to answer unless I reply to one stupid option. I neither made a fortune nor lost a fortune in Thailand.

Life is pretty much the same with me before and after the crooked bankers screwed the world. Bankers and politicians are both the same and I've never trusted either... for very good reasons.

I think that, as is always the case, after the "financial crisis" you were rewarded (or penalized) for taking risk (at least as the market assessed it -- "the random walk down Wall Street"). Financial institutions were seen by the market as pretty risky after the financial crisis, but the market often classifies broadly and there are always good mixed in with the bad if one looks carefully -- nice if your eye focuses that well. And perhaps one could conclude even in 2009 that governments would not allow the banks to go bust, and hence investments in their bonds was relatively "safe". Investors in Ginnie Mae preferred might have felt the same way (I considered buying some, but I just don't trust the US government). And, of course, diversifying the risk always helps to lessen it unless the whole basket goes to hell.

My investments are not my source of living expenditure, and they will fully recover at some point in the future. So, my biggest "loss" in cash flow from the financial crisis has been from the governments' mass efforts to correct it, especially the US government and the Fed, and the consequential collapse of the US Dollar. It has not affected my standard of living (unless you include net savings in there, and the new car I might have purchased had the Dollar remained at 36+ Baht), but it certainly has made things more expensive when purchased with Dollars exchanged for Baht. The real issue (for me) is what the future holds for the Dollar and what to do now. The past is past and sunk costs are sunk. The Fed (and the US government) does not seem inclined to change its reckless behavior, so some adjustment(s) to avoid further misery is necessary.

. . . Life is pretty much the same with me before and after the crooked bankers [and politicians] screwed the world. Bankers and politicians are both the same and I've never trusted either... for very good reasons.

Amen..........

As the credit crunch meant the pound dropped 40% it has undoubtedly affected the way i spend in LOS.

Surely even you multi millionaire investors on Thaivisa must be slightly more aware when spending.

Not really complaining...but on your first poll question there are only two options...either lost a fortune in Thailand or made a fortune in Thailand. Niether applies to me...because to me the whole "Banking dsaster" farce is of no financial concern whatsoever.

So for that reason, because the poll won't let me answer only two questions, I can't vote in the poll....unless I answer the first question with a lie.

On the other point, which is not the queston here really, I don't believe there ever was a "World Banking Diaster:. Thats why I called it a farce.

All I saw (in my opinion) was a number of wealthy individuals in the financial market game, who first ran a scam game on a group of guillible investors by feeding their inflated expectations, and then took their profits in the form of "bonuses" and ran away; but only after they engineered a phoney "crises" so they could steal government funds to "repay" their make believe losses at the taxpayers expense.

I believe it is called "Capitalisim"

But that is just my opinion....you may disagree.

The answers I would have liked to give are:

1. Basically the "World Banking Disaster" hasn't affected my financial health (or lack of it).

2. It hasn't really affected my life style in Thailand.

3. It hasn't really affected my prospects for the future.

I was lucky to have most of my savings in cash during the financial crisis. The exception being a mutual fund which dropped 20% but is now up 10% so no loss there (in fact a nice profit).

What about inflation?

It's a Silly poll. It won't allow me to answer unless I reply to one stupid option. I neither made a fortune nor lost a fortune in Thailand.

Life is pretty much the same with me before and after the crooked bankers screwed the world. Bankers and politicians are both the same and I've never trusted either... for very good reasons.

The same here, I wasn’t able to vote.

Anyone who lives in Thailand and receives their incomes from abroad, standard of living must have gone down over the last 2 or 3 years.

I unfortunately fall into that category. Prior to the huge decreases in Thai bahts for foreign currencies, I considered 1000 baht as peanuts and was a happy bunny living here. These days I have to think twice before spending anything and I am counting the pennies when out and about.

I estimated that my income is down by 24% from 3 years ago, meaning that my cost of living in Thailand is 24% higher then anyone that earns their incomes in Thailand.

If the baht exchange rate decreases any more and shows no indication of reviving in the foreseeable future, then perhaps for those ex pats receiving incomes from abroad, living in Thailand is no longer going to be viable.

Why are there no options for increased income/spending power?

Not everyone is a retiree waiting for a monthly pension from Farangland.

Why are there no options for increased income/spending power?

Not everyone is a retiree waiting for a monthly pension from Farangland.

I know we are a f'en minted on here, the credit crunch only means my bevvy of perfectly formed and scantily clad 19year old Chulalongkorn University girls have got to burn my 500bht notes instead of 1000s to light my Cohibas.

IMHO the credit crunch is just about to get started theyve papered the cracks as long as they can.

Anyone who lives in Thailand and receives their incomes from abroad, standard of living must have gone down over the last 2 or 3 years.

Not if you earn more than you spend. This doesn't take into account any amount that you might save each month but that's a different matter entirely.

I'm 80k baht down a month. But this year is looking good so I should be back up within 6 months.

Last year was my worst money wise.

Why are there no options for increased income/spending power?

Not everyone is a retiree waiting for a monthly pension from Farangland.

Exactly what I was going to say. On the third question, the only options are for situations that have stayed the same or gotten worse. For some of us ex-pats who work in Thailand, our situation has actually improved due the changed exchange rate. It definitely benefits me. I use less baht to pay my bills back home, which gives me more disposable income to play with in Thailand.

The funny thing is that people in this thread are acting like it's all over, when in actuality, the can has just been kicked down the road.

Not really complaining...but on your first poll question there are only two options...either lost a fortune in Thailand or made a fortune in Thailand. Niether applies to me...because to me the whole "Banking dsaster" farce is of no financial concern whatsoever.

So for that reason, because the poll won't let me answer only two questions, I can't vote in the poll....unless I answer the first question with a lie.

On the other point, which is not the queston here really, I don't believe there ever was a "World Banking Diaster:. Thats why I called it a farce.

All I saw (in my opinion) was a number of wealthy individuals in the financial market game, who first ran a scam game on a group of guillible investors by feeding their inflated expectations, and then took their profits in the form of "bonuses" and ran away; but only after they engineered a phoney "crises" so they could steal government funds to "repay" their make believe losses at the taxpayers expense.

I believe it is called "Capitalisim"

But that is just my opinion....you may disagree.

The answers I would have liked to give are:

1. Basically the "World Banking Disaster" hasn't affected my financial health (or lack of it).

2. It hasn't really affected my life style in Thailand.

3. It hasn't really affected my prospects for the future.

You have one thing wrong, the losses were not make believe. I wish that they would have gone bankrupt as well but it's not as though these mortgages never actually existed.

. . . All I saw (in my opinion) was a number of wealthy individuals in the financial market game, who first ran a scam game on a group of guillible investors by feeding their inflated expectations, and then took their profits in the form of "bonuses" and ran away; but only after they engineered a phoney "crises" so they could steal government funds to "repay" their make believe losses at the taxpayers expense. . . .

Eyes wide shut.........

It's a Silly poll. It won't allow me to answer unless I reply to one stupid option. I neither made a fortune nor lost a fortune in Thailand.

Life is pretty much the same with me before and after the crooked bankers screwed the world. Bankers and politicians are both the same and I've never trusted either... for very good reasons.

Yes you are correct the Poll could have given another choice of: "Stayed the Same" but there are some restrictions on the amount of questions and choices,and also it was mean't to be any choices you made,but in the event I must have configured it wrong and it forced everyone to answer all the questions including (Made or Lost a Fortune), and I didnt notice until it was too late to Edit it.

And also there is usually The "Fatal Flaw" and inconsistencies in most Polls and Studies. unless one plays safe with either a Yes or No, or Don't Know Answer,or even don't Post a Poll at all.

Edited January 4, 201115 yr by MAJIC

Not really complaining...but on your first poll question there are only two options...either lost a fortune in Thailand or made a fortune in Thailand. Niether applies to me...because to me the whole "Banking dsaster" farce is of no financial concern whatsoever.

So for that reason, because the poll won't let me answer only two questions, I can't vote in the poll....unless I answer the first question with a lie.

On the other point, which is not the queston here really, I don't believe there ever was a "World Banking Diaster:. Thats why I called it a farce.

All I saw (in my opinion) was a number of wealthy individuals in the financial market game, who first ran a scam game on a group of guillible investors by feeding their inflated expectations, and then took their profits in the form of "bonuses" and ran away; but only after they engineered a phoney "crises" so they could steal government funds to "repay" their make believe losses at the taxpayers expense.

I believe it is called "Capitalisim"

But that is just my opinion....you may disagree.

The answers I would have liked to give are:

1. Basically the "World Banking Disaster" hasn't affected my financial health (or lack of it).

2. It hasn't really affected my life style in Thailand.

3. It hasn't really affected my prospects for the future.

You have one thing wrong, the losses were not make believe. I wish that they would have gone bankrupt as well but it's not as though these mortgages never actually existed.

IMA, Please see my explaination,Post No 25

Edited January 4, 201115 yr by MAJIC

Forgot to add my own personal interest, in this subject on my Original Post.

Yep! I also lost out in Thailand.

But <deleted> I'm still Rich,............ Iv'e got my Beautiful Little Daughter!

Edited January 4, 201115 yr by MAJIC

Not really complaining...but on your first poll question there are only two options...either lost a fortune in Thailand or made a fortune in Thailand. Niether applies to me...because to me the whole "Banking dsaster" farce is of no financial concern whatsoever.

So for that reason, because the poll won't let me answer only two questions, I can't vote in the poll....unless I answer the first question with a lie.

On the other point, which is not the queston here really, I don't believe there ever was a "World Banking Diaster:. Thats why I called it a farce.

All I saw (in my opinion) was a number of wealthy individuals in the financial market game, who first ran a scam game on a group of guillible investors by feeding their inflated expectations, and then took their profits in the form of "bonuses" and ran away; but only after they engineered a phoney "crises" so they could steal government funds to "repay" their make believe losses at the taxpayers expense.

I believe it is called "Capitalisim"

But that is just my opinion....you may disagree.

The answers I would have liked to give are:

1. Basically the "World Banking Disaster" hasn't affected my financial health (or lack of it).

2. It hasn't really affected my life style in Thailand.

3. It hasn't really affected my prospects for the future.

You have one thing wrong, the losses were not make believe. I wish that they would have gone bankrupt as well but it's not as though these mortgages never actually existed.

Very interesting viewpoint! IMA

As to the Topic:

Please see my explaination,Post No 25

My bonus income is down B400,000 and is never coming back. I lost my defined pension plan 6 years ago, and saw my contributory pension employer contribution reduced 33%. My investment income is down B1,000,000. It has obliged me to reduce a lot of discretionary spending, e.g. no new car, no more 1st class air tickets, etc. to compensate and keep my retirement savings contributions. Although I can still impulse buy and don't have to worry about debts or expenses, I am more careful than ever and have set a requirement that my liquid assets must grow every month. Poverty sucks and I never ever want to be one of the hardluck stories one reads about.