Wont Be Many Brits Left Here Soon 47 Baht To Sterling Oh Dear

[janverbeem]

I guess the exchange rate will be down to 46 baht to £1 sterling by late tomorrow morning.

My crystal ball tells me that it`s a probability the rate will decrease to 40 baht for £1 sterling in the foreseeable future.

Make no mistake, this is going to affect everyone who obtains their incomes from abroad, not only the British, and of course this must have a dramatic effect on tourism. It makes no difference what the TAT does; the tourists just simply will not be able to afford to holiday here.

For many ex-pats living here that have not planned well or are already on shoestring budgets, many will not have a future here in Thailand if this decrease trend in bahts for western currencies continues for much longer.

Only one benefit of the falling exchange rates that I can think of; is that I wont have to queue so long when applying for my visa extension at Immigration.

Will that be because you don't need an extension anymore ?

[houseinbkk]

Well it's like the lemmings at the back cheering as the lemmings at the front go charging over the cliff, no one knows what's coming down the line but it's not looking good.

There were many who said the Euro would fail at its inception for the reasons it is about to fail.

At the time the BBC and MSM tried to show these people as right wing racist Xenophobes.

[moe666]

heheheeh You Brits where taking it out on the US dollar a few years ago as it dropped how does it feel now. You guys have lost much more than we have. But donot get me wrong not good for either one of us no matter where we get our money from.

[Pedzie]

I didn't think in my lifetime I would see the US being downgraded on debt.

And I have been wondering for years already why it didn't happen

You do realize that as a percentage of GDP the interest on the debt is lower than it was 20 years ago? Also, the Deficits/Debt is an entirely solvable problem without much pain. Return tax rates on the rich to what they were in the 80's and the problem solves itself.

But you won't read anything about that because it is not a scary enough headline. Also, it is not in the best interests of a certain political party to solve that problem. That gets into the problem of a 2 party system but that is another discussion.

What happens when the debt is the size of the US GDP, which it is forecast to reach in the coming years.

[letitbe]

Think you may find it suits TOT.

The rate will deter (or even force back to the UK) the 'old guys'.

If they want to come to Thailand, tourists will come to Thailand irrespective of the exchange rate.

wont affect many since damage already done when it went from 75 to around 50 Bigger problem is inflation here and everywhere. Our income from UK and USA has in effect gone down 50% as a combination of currency debasement and inflation probably more. Add crashes in investment on shares and at least crash in property in USA and soon to come to UK real drop in last 6-8 years is probably nearer 70% or more. So someone with say 4k GBP income a month 7 years ago in real terms probably now only has 1k gbp. Of course if they had not listened to all those who said dont bring anything here and still rent they are whats the word F$#$%. Those of us who brought enough over to buy lots of property shares and like here and reaping benefit are fine thank you.

[letitbe]

Think you may find it suits TOT.

The rate will deter (or even force back to the UK) the 'old guys'.

If they want to come to Thailand, tourists will come to Thailand irrespective of the exchange rate.

wont affect many since damage already done when it went from 75 to around 50 Bigger problem is inflation here and everywhere. Our income from UK and USA has in effect gone down 50% as a combination of currency debasement and inflation probably more. Add crashes in investment on shares and at least crash in property in USA and soon to come to UK real drop in last 6-8 years is probably nearer 70% or more. So someone with say 4k GBP income a month 7 years ago in real terms probably now only has 1k gbp. Of course if they had not listened to all those who said dont bring anything here and still rent they are whats the word F$#$%. Those of us who brought enough over to buy lots of property shares and like here and reaping benefit are fine thank you.

sorry should have added weve now taken a lot out and will get as much else out as we can before the saviour of Thailand cones back and completely destroys place but for last 15 years rits been great and falling GBP US$ has made us a mint

[theblether]

heheheeh You Brits where taking it out on the US dollar a few years ago as it dropped how does it feel now. You guys have lost much more than we have. But donot get me wrong not good for either one of us no matter where we get our money from.

It's a deliberate policy by the Brits to devalue their currency and boost exports. It's a little reported fact that Britain recently had it's all-time record export quarter, plus it is the biggest European investor in South East Asia, South Asia and the Pacific Rim. That's relevant as current and future growth prospects are most buoyant in these areas.

The Conservative/ Liberal Democrat government are doing a good job of stabilizing the British economy, and the IMF are delighted with them. Try telling that story in the UK thought, it really is a case of being a " Prophet in Your Own Land ".

The downside is that the ex-pat community relying on their sterling based pensions are in trouble, serious trouble in many cases. The drop in the £ / baht exchange rate will result in many people not qualifying for the minimum baht income requirement for their Thai retirement visa. Over and above that, it could tip many retired Brits into relative poverty and hardship in Thailand.

The British government is right to what it sees fit for the economy, and it has maintained it's AAA rating, unlike the USA, however behind the statistics are real lives, real people, and many many good people.

The OP was verging on trolling with his post, but as you watch the effects of the turmoil on the Western economies hitting retirees, you'll need to consider " There but for the grace of God, go I ".

[letitbe]

I guess the exchange rate will be down to 46 baht to £1 sterling by late tomorrow morning.

My crystal ball tells me that it`s a probability the rate will decrease to 40 baht for £1 sterling in the foreseeable future.

Make no mistake, this is going to affect everyone who obtains their incomes from abroad, not only the British, and of course this must have a dramatic effect on tourism. It makes no difference what the TAT does; the tourists just simply will not be able to afford to holiday here.

For many ex-pats living here that have not planned well or are already on shoestring budgets, many will not have a future here in Thailand if this decrease trend in bahts for western currencies continues for much longer.

Only one benefit of the falling exchange rates that I can think of; is that I wont have to queue so long when applying for my visa extension at Immigration.

yes not only less queuing for few of us left you and me but thinking about it it was much nicer 10 years ago when their were a lot less forang here and most of them stayed in sexpat geto's like Pattaya

[james24]

heheheeh You Brits where taking it out on the US dollar a few years ago as it dropped how does it feel now. You guys have lost much more than we have. But donot get me wrong not good for either one of us no matter where we get our money from.

It's a deliberate policy by the Brits to devalue their currency and boost exports. It's a little reported fact that Britain recently had it's all-time record export quarter, plus it is the biggest European investor in South East Asia, South Asia and the Pacific Rim. That's relevant as current and future growth prospects are most buoyant in these areas.

The Conservative/ Liberal Democrat government are doing a good job of stabilizing the British economy, and the IMF are delighted with them. Try telling that story in the UK thought, it really is a case of being a " Prophet in Your Own Land ".

The downside is that the ex-pat community relying on their sterling based pensions are in trouble, serious trouble in many cases. The drop in the £ / baht exchange rate will result in many people not qualifying for the minimum baht income requirement for their Thai retirement visa. Over and above that, it could tip many retired Brits into relative poverty and hardship in Thailand.

The British government is right to what it sees fit for the economy, and it has maintained it's AAA rating, unlike the USA, however behind the statistics are real lives, real people, and many many good people.

The OP was verging on trolling with his post, but as you watch the effects of the turmoil on the Western economies hitting retirees, you'll need to consider " There but for the grace of God, go I ".

IMF just cut its forecast for UK/GDP growth, down from 1.5 to 1.1, also warnings of a "double dip" risk.

[MAJIC]

Think you may find it suits TOT.

The rate will deter (or even force back to the UK) the 'old guys'.

If they want to come to Thailand, tourists will come to Thailand irrespective of the exchange rate.

Its quite normal for a strong baht,leading into Peak Holiday Season,come the end of January into February,it should be back to 49-50 bahts to the pound,fingers crossed,and no political Disasters etc.

Edited September 22, 2011 by MAJIC

[smokie36]

45 two years ago, can anyone see the light if any ) at the end of the tunnel ? not much better here in uk, a can of corned beef is on average £160, it was half that price 2 years ago, gas has doubled, electric has doubled , most food has doubled. scary days indeed

I have a tent on the beach and live on tomatoes and local fish and musselsWith the savings made soon I'll be back in the LOS in my favourite 5* hotel...popping down the street for my Ka Pow Gai....!

[houseinbkk]

heheheeh You Brits where taking it out on the US dollar a few years ago as it dropped how does it feel now.

When the dollar took its initial big hit v the bht sterling was dropping at a decent enough rate for no Brit to "take it out on the USD" as you put it.

[roamer]

Its looking somewhat inevitable that there will be some QE (quantative easing) applied sooner or later by the B0E. In that case the £ will be sub 45B. As the Euro speeds its way south it will drag sterling with it. You do have to wonder just how long the BOT will maintain the baht at this rate. Dangerous times around the corner for all.

[MAJIC]

Less Brits?

That could only be a greater advantage and benefit to the Thai society, yes?

Before I opened this thread,I wondered how many embittered anti Brit Sh*t stirrers it would attract,

so there was no chance of keeping it clean was there? learn to live with it,the Brits will stay in Thailand,weak £ Pound or not.

Keep up the good work, most of the venomous hate mongers on tv are sad people, who can't go back home,they have too many issues waiting back there for them,

And believe me I've met plenty of them, but Thailand will give them a Safe Haven,at a price.

[theblether]

heheheeh You Brits where taking it out on the US dollar a few years ago as it dropped how does it feel now. You guys have lost much more than we have. But donot get me wrong not good for either one of us no matter where we get our money from.

It's a deliberate policy by the Brits to devalue their currency and boost exports. It's a little reported fact that Britain recently had it's all-time record export quarter, plus it is the biggest European investor in South East Asia, South Asia and the Pacific Rim. That's relevant as current and future growth prospects are most buoyant in these areas.

The Conservative/ Liberal Democrat government are doing a good job of stabilizing the British economy, and the IMF are delighted with them. Try telling that story in the UK thought, it really is a case of being a " Prophet in Your Own Land ".

The downside is that the ex-pat community relying on their sterling based pensions are in trouble, serious trouble in many cases. The drop in the £ / baht exchange rate will result in many people not qualifying for the minimum baht income requirement for their Thai retirement visa. Over and above that, it could tip many retired Brits into relative poverty and hardship in Thailand.

The British government is right to what it sees fit for the economy, and it has maintained it's AAA rating, unlike the USA, however behind the statistics are real lives, real people, and many many good people.

The OP was verging on trolling with his post, but as you watch the effects of the turmoil on the Western economies hitting retirees, you'll need to consider " There but for the grace of God, go I ".

IMF just cut its forecast for UK/GDP growth, down from 1.5 to 1.1, also warnings of a "double dip" risk.

I know that, I own two businesses in the UK, including one that exports ( please note, exports ) to China. 1.1% growth is fine at the moment, and believe it or not, stagnation is fine. It doesn't matter what happens today, we are very very early in the recovery cycle, it's where we are in 3 years that matters.

Costs in China are going through the roof due to several different reasons, so what's happening now in the UK in response to that? Manufacturers are beginning to repatriate their businesses to the UK, especially clothing manufacturers. You'll begin to see and even bigger rush to that as the exchange rate comes down. What's the result? Imports become more expensive, British industry becomes more competitive, and exports become cheaper. Happy days!! That is unless your a retiree in Thailand depending on your sterling based pension, then it's very unhappy days.

[ES1]

Well it's like the lemmings at the back cheering as the lemmings at the front go charging over the cliff, no one knows what's coming down the line but it's not looking good.

There were many who said the Euro would fail at its inception for the reasons it is about to fail.

At the time the BBC and MSM tried to show these people as right wing racist Xenophobes.

The Euro is about to fail? That's news to.....just about anyone who knows anything about it. Clearly you are cheering for that. Can't imagine why other than to say "told ya so" or whatever.

[houseinbkk]

Well it's like the lemmings at the back cheering as the lemmings at the front go charging over the cliff, no one knows what's coming down the line but it's not looking good.

There were many who said the Euro would fail at its inception for the reasons it is about to fail.

At the time the BBC and MSM tried to show these people as right wing racist Xenophobes.

The Euro is about to fail? That's news to.....just about anyone who knows anything about it. Clearly you are cheering for that. Can't imagine why other than to say "told ya so" or whatever.

Its not news to anyone who knows anything about it, its a very well discussed topic, as in one of the most discussed topic in the financial press.

Its because i am a person who wishes for free trade not to be governed by unelected corrupt bureaucrats why i will rejoice in the Euros thus EU's demise.

Edit ES1 i reread your post no.29 and seriously you have no idea what is going on in the current crisis, to say the problems are easily fixed is so very wrong.

Edited September 22, 2011 by houseinbkk

[Beetlejuice]

Less Brits?

That could only be a greater advantage and benefit to the Thai society, yes?

Ha, ha, ha, a good try at winding people up just for the sake of.

I’ve always enjoyed your posts and common sense views, but sorry, you’ve let the side down on this one. Hoping to see the return of the old zzaa09 soon.

As I said previous, we are all in this together; no one will escape the world economic crisis and the ever-dwindling bahts for Western currencies.

The most we can do is try to ride out the storm and hope this crisis will not continue for too long. But I’m afraid there are going to be casualties on the way and that includes everybody, not one of us is exempt.

[vpi78]

Less Brits?

That could only be a greater advantage and benefit to the Thai society, yes?

Ha, ha, ha, a good try at winding people up just for the sake of.

I’ve always enjoyed your posts and common sense views, but sorry, you’ve let the side down on this one. Hoping to see the return of the old zzaa09 soon.

As I said previous, we are all in this together; no one will escape the world economic crisis and the ever-dwindling bahts for Western currencies.

The most we can do is try to ride out the storm and hope this crisis will not continue for too long. But I’m afraid there are going to be casualties on the way and that includes everybody, not one of us is exempt.

Common sense ... you're having a laugh. As he often does, zzaa09 mangled the English language again. The context is 'fewer Brits", rather than "less Brits."

Although, if he were more literate one might argue he was alluding to the Welsh as "Lesser Brits."

Thailand and Thai tourism will be fine, the mix of tourists will just keep churning as Anglos of all varieties are replaced by more colorful folks.

[Pedzie]

Well it's like the lemmings at the back cheering as the lemmings at the front go charging over the cliff, no one knows what's coming down the line but it's not looking good.

There were many who said the Euro would fail at its inception for the reasons it is about to fail.

At the time the BBC and MSM tried to show these people as right wing racist Xenophobes.

The Euro is about to fail? That's news to.....just about anyone who knows anything about it. Clearly you are cheering for that. Can't imagine why other than to say "told ya so" or whatever.

Its not news to anyone who knows anything about it, its a very well discussed topic, as in one of the most discussed topic in the financial press.

Its because i am a person who wishes for free trade not to be governed by unelected corrupt bureaucrats why i will rejoice in the Euros thus EU's demise.

Edit ES1 i reread your post no.29 and seriously you have no idea what is going on in the current crisis, to say the problems are easily fixed is so very wrong.

I just hope the EU does fall apart, it's the biggest waste of UK taxpayers money, what do we contribute? about 8 billion per year! How much relief would that give to the struggling public services or even the armed forces

[phutoie2]

I just hope the EU does fall apart, it's the biggest waste of UK taxpayers money, what do we contribute? about 8 billion per year! How much relief would that give to the struggling public services or even the armed forces

Uk exports 40% of its manufactured goods to the EU, we need to still be in it, not sitting on the sidelines whinging. (a common Brit trait)

[lovelomsak]

I always thought the problem was that the currency rose to quickly. What goes up must come down. For years it was fairly stable then all of a sudden it shot up. I see it as the problem was the rise to 75 baht to the dollar. That attracted many people to believe that is what it was worth. It was unsustainable simple as that.

[Ulysses G.]

I didn't think in my lifetime I would see the US being downgraded on debt.

And I have been wondering for years already why it didn't happen

You do realize that as a percentage of GDP the interest on the debt is lower than it was 20 years ago? Also, the Deficits/Debt is an entirely solvable problem without much pain. Return tax rates on the rich to what they were in the 80's and the problem solves itself.

But you won't read anything about that because it is not a scary enough headline.

More because it is a load of <deleted>. The debt problem can not be solved without raising taxes on the middle class as well as the rich and no one is willing to address that.

[Johnniey]

In 1992 it was 37 so I'm quite happy now. Also, taking my large family to the UK in a couple of months so the lower the better.

[jackr]

It would best to be humble, my friend.

As Euro-Western influence and contributions to the world [and world history] are extremely nominal. In reality.

You are joking, right? For better or worse, the world is european. Although the Chinese, and Indians may have developed many features of the modern world thousands of years before they reached Europe, it was the dynamic and progressive European culture that unleashed 'development' on the world, and like cancer, development is very difficult to cure.

I would hold my tongue, the guy is clearly trolling. His nick aside - 'Misanthropic', which I can empathise with - denouncing the incredible contribution of Europe (mainly Britain) as nominal (we'd be a good 100 years behind without their input), he must have tongue in cheek or has a complete lack of humility and understanding. I urge him to go and read if the latter. Put it this way, with regard to history, if the world were a plane, Britain would be the cockpit.

On the pound being low, yes, that sucks.

[Ulysses G.]

[i would hold my tongue, the guy is clearly trolling.

If you look back at his old posts, almost every single one claims that Europe's contributions to the world are very minimal. I think that it is fair to say that he is obssesed with promoting this point of view.

[beano2274]

Think you may find it suits TOT.

The rate will deter (or even force back to the UK) the 'old guys'.

If they want to come to Thailand, tourists will come to Thailand irrespective of the exchange rate.

TOT is the phone company

TAT is the Tourist Association (or Authority) of Thailand

[beano2274]

Am quite happy about it, I get paid in Thai baht from a Thai company, and am planning to go back home in April with the wife and MIL.

But it will affect me in the future when I get my Army and Government pensions, that is what I am not looking forward to.

[travelmann]

Well it's like the lemmings at the back cheering as the lemmings at the front go charging over the cliff, no one knows what's coming down the line but it's not looking good.

There were many who said the Euro would fail at its inception for the reasons it is about to fail.

At the time the BBC and MSM tried to show these people as right wing racist Xenophobes.

Just like they say agw is real too

Edited September 23, 2011 by travelmann

[ludditeman]

wont affect many since damage already done when it went from 75 to around 50 Bigger problem is inflation here and everywhere. Our income from UK and USA has in effect gone down 50% as a combination of currency debasement and inflation probably more. Add crashes in investment on shares and at least crash in property in USA and soon to come to UK real drop in last 6-8 years is probably nearer 70% or more. So someone with say 4k GBP income a month 7 years ago in real terms probably now only has 1k gbp. Of course if they had not listened to all those who said dont bring anything here and still rent they are whats the word F$#$%. Those of us who brought enough over to buy lots of property shares and like here and reaping benefit are fine thank you.

This is just not true or logical.

In the UK you have set taxes for just living there, my council tax was 200UKP a month (10,000bht)

No matter what I did, I couldn't cut that bill. Rent or own, I still had to pay that each month.

Here I can adjust my standard of living to offset any changes in currency.

The Thai baht used to have an exchange rate of 35 to the UK pound, it is still better.

Last week I changed some UK currency @50bht to the UKP (not with a bank though)

I don't know anyone who has made money from property in Thailand, I must mix with the wrong people.

I do know a couple of guys who bought a house for a Thai lady and were then chucked out of it, keeping nothing.

My shares are still making about 9% pa, no big losses in the past 10 years.

Edited September 23, 2011 by ludditeman