Is Thailand Going Blindly Down The Same Path As Greece?

[slapout]

To compare Thailand to western nations, in its thinking (economic nor otherwise) may not be the best comparsion. When your asperations are not too high, your internal plans/dreams will follow the same thought process.

The country is for sale as other countries of the world seem to be. The admited Chinese Thai control of the economy here gives a good indication of the way Thailand has been/is willing to chase the rest of the industraliazed/modern nations for the benifet, monetaraly, of the single didget minority.

[PlastikbinLina]

So who's going to bail out Thailand? Singapore?

China. Or rather, they'll just buy up assets.

Who bailed them out following the Asian currency crisis in 1997?

[w11guy]

40% debt is manageable. If Thailand was heading the way of Greece then it's currency would collapse. That isn't happening.

[QED]

How can anyone take this article seriously?

Quote "Currently, the Thai government's revenue is Bt1.98 trillion, whereas the budget was set at Bt2.38 trillion, leaving a fiscal deficit of Bt400,000 billion"

In my book 400,000 billion = 400 trillion, no?

I still can't work out what the author was trying to say here, did he mean 400,000 million? If so why did he not just say 400 billion? For greater effect or just to confuse the reader?

This mistake is repeated several times throughout the article, if the author cannot get his basic figures right I personally don't hold much hope for his macro-economic analytical skills.

[Moruya]

Once they hide this huge debt under the BOT carpet, I wonder where they will go for the massive loan so they have enough money to pay for all the policies that they ill-advisedly promised.

I'd pay for a ticket to watch the interview process:

Big Global Bank (BGB): So, Mrs. Yingluck, you state here that the purpose of this loan is to pay for populist policies. Can you explain these?

Yingluck Shinawatra (YS): I'm afraid I don't know much about this kind of stuff. I have a list here na ka.

BGB: It says here that you will be paying the tax back on the purchases of houses and cars for first time buyers. Is that right?

YS: Yes. I think that was agreed at the SC Asset board meeting. Or am I confusing it with another meeting that I should have attended when my helicopter broke?

BGB: It also says that you will be reducing the rate of corporate tax by seven percent?

YS: I don't know. I wasn't there at the time

BGB: It says here that you intend to pay back the loan using tax income.

YS: I believe that's what Khun Kittirat said. You'll have to ask him.

BGB: I have done some research into your outgoings and you have committed to increase government workers salaries to a minimum of 300B per day and for graduates to receive a minimum 15,000 Per month. That's a sizable increase on last year's costs.

YS: Oh. Don't worry about that. That was just campaign talk

BGB: You say here that you do not currently have any debts or liabilities?

YS: Yes na ka

BGB: Doing a credit search you appear to have had a debt of around 1.14T B a few months ago. How was this repaid?

YS: Khun Kittirat deals with all these types of scheme. I believe the BOT were very keen to take it on on our behalf.

BGB: This sizable debt will increase your overall outgoings considerably at a time when your income has been reduced by the very policies you are lending the money for. This doesnt's really make any sense.

YS: We will see in the future.

BGB: We will need to impose punitive interest rates on this loan because of the current world climate and the risk of non-payment. Are you prepared to accept these on behalf of your nation?

YS: Yes na ka. I am doing my best

[blazes]

did you know that greece spent most of there ball out money on gun and tanks and in march they need another ball out of 80 billuion of which it has ordered new helicopters from the u s a and bombs from germany.

You don't see the pattern? We will give you money as long as you buy "stuff" from us....stuff including all those lovely American tanks and missile systems and and and......

[who]

Cutting corporate taxes when they should have been raised was craziness, but (hopefully) all the added revenue from increasing the minimum wage increasing in public sector wages and benefits will get Thailand back on a more fiscally responsible course.

----Your statement is worth just about the 2 cents you suggest. Just another left winger that can't add----

.

[mogandave]

Cutting corporate taxes when they should have been raised was craziness, but (hopefully) all the added revenue from increasing the minimum wage increasing in public sector wages and benefits will get Thailand back on a more fiscally responsible course.

----Your statement is worth just about the 2 cents you suggest. Just another left winger that can't add----

.

Another rightious-rightie that is unable to formulate a response that actually addresses what has been said so instead resorts to name calling. How typical. Here's a thought, why not run your own numbers and get back to me when you actually have something to say.

[mogandave]

Oh, and $0.2 is twenty-cents, not two. So much for YOUR higher math skills. Sheesh!

[teatree]

So who's going to bail out Thailand? Singapore?

I'm sure the economic hitmen at the IMF would be more than happy to oblige.

[theblether]

Once they hide this huge debt under the BOT carpet, I wonder where they will go for the massive loan so they have enough money to pay for all the policies that they ill-advisedly promised.

I'd pay for a ticket to watch the interview process:

Big Global Bank (BGB): So, Mrs. Yingluck, you state here that the purpose of this loan is to pay for populist policies. Can you explain these?

Yingluck Shinawatra (YS): I'm afraid I don't know much about this kind of stuff. I have a list here na ka.

BGB: It says here that you will be paying the tax back on the purchases of houses and cars for first time buyers. Is that right?

YS: Yes. I think that was agreed at the SC Asset board meeting. Or am I confusing it with another meeting that I should have attended when my helicopter broke?

BGB: It also says that you will be reducing the rate of corporate tax by seven percent?

YS: I don't know. I wasn't there at the time

BGB: It says here that you intend to pay back the loan using tax income.

YS: I believe that's what Khun Kittirat said. You'll have to ask him.

BGB: I have done some research into your outgoings and you have committed to increase government workers salaries to a minimum of 300B per day and for graduates to receive a minimum 15,000 Per month. That's a sizable increase on last year's costs.

YS: Oh. Don't worry about that. That was just campaign talk

BGB: You say here that you do not currently have any debts or liabilities?

YS: Yes na ka

BGB: Doing a credit search you appear to have had a debt of around 1.14T B a few months ago. How was this repaid?

YS: Khun Kittirat deals with all these types of scheme. I believe the BOT were very keen to take it on on our behalf.

BGB: This sizable debt will increase your overall outgoings considerably at a time when your income has been reduced by the very policies you are lending the money for. This doesnt's really make any sense.

YS: We will see in the future.

BGB: We will need to impose punitive interest rates on this loan because of the current world climate and the risk of non-payment. Are you prepared to accept these on behalf of your nation?

YS: Yes na ka. I am doing my best

You should contemplate getting a life.........

Thailand is a long, long, long way from being another Greece, the headline is just the best of / worst of " Headline Grabbing".............there are loads of countries in the world that dream of the 40% sovereigh debt figure.

[Scotsman5]

Thankyou for a thought provoking article.