Budget Is All About Plundering For A Spending Spree: Thai Opinion

[farang000999]

If I read one more article about how Thailand is the next Greece cause their debt level is 40% of GDP I am going to puke. <deleted>!

[rubl]

Some historical data of GDP deficits in Thailand. It's in percentage, not THB. Note what is lacking is information on economical environment, government policy, GDP in THB, etc., etc. That would explain at least some of this.

Strictly speaking the table as is has little value but for showing the possibility to offer different explaination based on the same data :-)

http://www.tradingec...vernment-budget

Edited May 26, 2012 by rubl

[waza]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

Edited May 26, 2012 by waza

[tlansford]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

"As the topic says "Budget Is All About Plundering For A Spending Spree:"."

Would that include the nearly 800Billion THB deficit under 2 years of the Abhisit government, too, or is this just dogmati-conomics?

[waza]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

"As the topic says "Budget Is All About Plundering For A Spending Spree:"."

Would that include the nearly 800Billion THB deficit under 2 years of the Abhisit government, too, or is this just dogmati-conomics?

I dont know what dogmati-conomics is and cant find a definition. I tried dogmatic-economic but only got this, "for Economics to move past theories that have acquired dogmatic status and remake Economics a useful but less deterministic tools in understanding the economic behaviour of people and organisations". http://npthinking.bl...dogmatic.html Another blog I am afraid and I am not sure it applies as a definition of Thaksinomics.

However, I dont support the laisser-faire ideology of new classical macroeconomics theory which is practiced by most western economies and by the Democrat party.

Edited May 26, 2012 by waza

[simple1]

Apart from this ongoing massive debt creation, the government also plans to dig deep into the vaults of the Bank of Thailand to spend at least US$100 billion (Bt3 trillion) of its $180 billion in international reserves.

Now that is scary. Wonder where that money is going to end up. I'm sure Thaksin's African contacts would be fabulous places to keep it safe

I tried to work out what 30% of 3 trillion would be but my calculator doesn't have enough digits. They should have played Ginger singing "We're in the Money" as background music.

Is this a rare photo of Yingluk in parliament?

Yes, there will be some serious increase in wealth for 'influencial persons"

[phiphidon]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

Anybody with a truly enquiring mind, one who has not already made up his mind that:

"In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit".

who really wanted to believe in that statement would look elsewhere to make sure it was so. When presented with evidence to the contrary it's very easy to be blase about a well written commentary on Thailand with its varied correspondents and write it off as

"blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions"

but to quote The Nation as a more informed organ is mildly amusing to say the least.

"I checked every citation in the Bangkok pundits blog and coudn't find one that is still active".

Well sometimes you have to do some work yourself especially with articles that are old, links change or are broken or in the case of the Bangkok Post put behind a financial firewall.

The Nation link still works, the Bangkok Post is as I said but the Asian Development Bank doesn't - a bit of googling though and you'll find this

http://www2.adb.org/....asp (adb link)

which provides the info you may or may not seek......................

Edited May 27, 2012 by phiphidon

[lannarebirth]

Apart from this ongoing massive debt creation, the government also plans to dig deep into the vaults of the Bank of Thailand to spend at least US$100 billion (Bt3 trillion) of its $180 billion in international reserves.

Now that is scary. Wonder where that money is going to end up. I'm sure Thaksin's African contacts would be fabulous places to keep it safe

Thaksin has already stated that he would like to create a Thai "Sovereign Wealth Fund", and that he would like to see that fund invest in African Blood Diamond and Gold mining operations. Operations he has already frontrun on the nation's behalf.

[waza]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

Anybody with a truly enquiring mind, one who has not already made up his mind that:

"In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit".

who really wanted to believe in that statement would look elsewhere to make sure it was so. When presented with evidence to the contrary it's very easy to be blase about a well written commentary on Thailand with its varied correspondents and write it off as

"blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions"

but to quote The Nation as a more informed organ is mildly amusing to say the least.

"I checked every citation in the Bangkok pundits blog and coudn't find one that is still active".

Well sometimes you have to some work yourself especially with articles that are old, links change or are broken or in the case of the Bangkok Post put behind a financial firewall.

The Nation link still works, the Bangkok Post is as I said but the Asian Development Bank doesn't - a bit of googling though and you'll find this

http://www2.adb.org/....asp (adb link)

which provides the info you may or may not seek......................

Yer tried that one too and got the message..............

404 - File or directory not found.

The resource you are looking for might have been removed, had its name changed, or is temporarily unavailable.

Or maybe tin foil hat sites are blocked in Aus...........

[phiphidon]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

Anybody with a truly enquiring mind, one who has not already made up his mind that:

"In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit".

who really wanted to believe in that statement would look elsewhere to make sure it was so. When presented with evidence to the contrary it's very easy to be blase about a well written commentary on Thailand with its varied correspondents and write it off as

"blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions"

but to quote The Nation as a more informed organ is mildly amusing to say the least.

"I checked every citation in the Bangkok pundits blog and coudn't find one that is still active".

Well sometimes you have to some work yourself especially with articles that are old, links change or are broken or in the case of the Bangkok Post put behind a financial firewall.

The Nation link still works, the Bangkok Post is as I said but the Asian Development Bank doesn't - a bit of googling though and you'll find this

http://www2.adb.org/....asp (adb link)

which provides the info you may or may not seek......................

Yer tried that one too and got the message..............

404 - File or directory not found.

The resource you are looking for might have been removed, had its name changed, or is temporarily unavailable.

Or maybe tin foil hat sites are blocked in Aus...........

It seems that way at the moment but 30 minutes ago it was there.

[phiphidon]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

Anybody with a truly enquiring mind, one who has not already made up his mind that:

"In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit".

who really wanted to believe in that statement would look elsewhere to make sure it was so. When presented with evidence to the contrary it's very easy to be blase about a well written commentary on Thailand with its varied correspondents and write it off as

"blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions"

but to quote The Nation as a more informed organ is mildly amusing to say the least.

"I checked every citation in the Bangkok pundits blog and coudn't find one that is still active".

Well sometimes you have to some work yourself especially with articles that are old, links change or are broken or in the case of the Bangkok Post put behind a financial firewall.

The Nation link still works, the Bangkok Post is as I said but the Asian Development Bank doesn't - a bit of googling though and you'll find this

http://www2.adb.org/....asp (adb link)

which provides the info you may or may not seek......................

Yer tried that one too and got the message..............

404 - File or directory not found.

The resource you are looking for might have been removed, had its name changed, or is temporarily unavailable.

Or maybe tin foil hat sites are blocked in Aus...........

My mistake it should be http://www2.adb.org/Documents/CERs/THA/2001/tha_cer301.asp i.e without the (adb link) tag on the end which I had added so I knew what link it was.

[whybother]

Yer tried that one too and got the message..............

404 - File or directory not found.

The resource you are looking for might have been removed, had its name changed, or is temporarily unavailable.

Or maybe tin foil hat sites are blocked in Aus...........

It seems that way at the moment but 30 minutes ago it was there.

Remove the "(adb link)"

http://www2.adb.org/Documents/CERs/THA/2001/tha_cer301.asp

[phiphidon]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

As for budget surpluses and populist spending see here

http://www.adb.org/p...ce/publications

and download the "Thailand" Asian Development Outlook pdf:

"The overall balance of payments recorded a much reduced surplus, estimated at $330 million up to midyear."

whilst providing:

"An economic stimulus package was introduced in July. Its main ingredients were: a 5% salary rise for civil servants; a higher minimum daily wage; an increase in pensions; an additional allocation of B20 billion for a village fund; and tax breaks for firms offering more benefits for low-income workers. Many of these measures had already been planned and were brought forward. The stimulus package is likely to push up wage costs and add to the cost impact of the ending of diesel subsidies in July. Overall, both public consumption and investment are expected to contribute to growth in 2005"

[koosdeboer]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

"As the topic says "Budget Is All About Plundering For A Spending Spree:"."

Would that include the nearly 800Billion THB deficit under 2 years of the Abhisit government, too, or is this just dogmati-conomics?

But the democrats. boring. Anyhow you agree I understand.

[tlansford]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

"As the topic says "Budget Is All About Plundering For A Spending Spree:"."

Would that include the nearly 800Billion THB deficit under 2 years of the Abhisit government, too, or is this just dogmati-conomics?

But the democrats. boring. Anyhow you agree I understand.

not boring, but rather the point in this thread topic, please go back to read that & you'll see things like ...

Korbsak Sabhavasu of the Democrat Party says the government has run up budget deficits of more than Bt600 billion in two years. Yet it has repaid only around Bt100 billion.

being blamed on a gov't in office for 10 months...

And Waza is busy saying this is all about PTP and Thaksin before that, while ignoring nearly 800billion of debt under the Democrats.

If one wants to debate what happens with gov't spending, fine, but this is just more one-sided political bashing & point scoring... albeit that was obvious from the title of The Nation's article anyway.

[whybother]

not boring, but rather the point in this thread topic, please go back to read that & you'll see things like ...

Korbsak Sabhavasu of the Democrat Party says the government has run up budget deficits of more than Bt600 billion in two years. Yet it has repaid only around Bt100 billion.

being blamed on a gov't in office for 10 months...

...

Is it possible that he's talking about the 2 budgets - one last year on coming to power, and this one?

[ginjag]

Thailand thrives on exports, big time. Note April Thailands exports DROP considerably-mainly due to USA--and Europe not wanting. Why-prices too high compared to it's neighbours?? or business distasteful ??? This party can waste money they do not have------apart from the election pledges--300 to go on safari----masses given abroad trips, Thai airways--state money --poorly managed. And all the talk on an earlier thread about recovery after the flood Ha Ha mind boggling. And it's not important for the PM not to be around much----( in my day the manager away the rats will play)

[tlansford]

not boring, but rather the point in this thread topic, please go back to read that & you'll see things like ...

Korbsak Sabhavasu of the Democrat Party says the government has run up budget deficits of more than Bt600 billion in two years. Yet it has repaid only around Bt100 billion.

being blamed on a gov't in office for 10 months...

...

Is it possible that he's talking about the 2 budgets - one last year on coming to power, and this one?

yes, I saw that.

possible, and one of those was the Abhisit budget. But the numbers still don't add up correctly in his statement.

[whybother]

yes, I saw that.

possible, and one of those was the Abhisit budget. But the numbers still don't add up correctly in his statement.

This government had their first budget not too long after the election. This is their second.

Sent from my shoe phone

[waza]

Yer tried that one too and got the message..............

404 - File or directory not found.

The resource you are looking for might have been removed, had its name changed, or is temporarily unavailable.

Or maybe tin foil hat sites are blocked in Aus...........

It seems that way at the moment but 30 minutes ago it was there.

Remove the "(adb link)"

http://www2.adb.org/.../tha_cer301.asp

Ok great got it............

It basically state...............Based on official estimates, the Government is likely to run a budget deficit over FY2001-FY2006. Not a budget surplus like you stated.

Anyway it looks like a Country Economic Review: Thailand : III. Selected Policy Issues produced in 2000 and projects Thailands fiscal position to 2007. What does this have to do with anything we have been discussing. It doesnt give the facts of what actually happened only projects what might happen.

[waza]

Which is exactly what this is about, isn't it - you've been told Thaksinomics is bad but when you're told it's not and in fact he had a couple of years of budget surplus, because Thaksin is behind it, it can't be true. #29 phiphidon

"Interestingly, the urban population did not show any resistance to the military intervention". With their history are you really suprised?

No matter how many blog sites you quote, (Bangkok pundit, Thailand post blog spot) that hobble obscure quotes together to substantiate their misleading assumptions that Thaksinomics stimulates an economy into surplus. I checked every citation in the Bangkok pundits blog and coudn't find one that is still active. I personaly would be embarrassed to use that blog to repudiate the facts contained in the Nation article and verified in the Bangkok Post article.

In conclusion I dont believe that Thakinomics, whether instituted by Thaksin or by Yingluck, is a valid finacial strategy for any economy. Thaksinomics isnt about budget surpluses its about populist spending to maintain suport as his governments corrupts the countries finances into a massive deficit. As the topic says "Budget Is All About Plundering For A Spending Spree:".

As for budget surpluses and populist spending see here

http://www.adb.org/p...ce/publications

and download the "Thailand" Asian Development Outlook pdf:

"The overall balance of payments recorded a much reduced surplus, estimated at $330 million up to midyear."

whilst providing:

"An economic stimulus package was introduced in July. Its main ingredients were: a 5% salary rise for civil servants; a higher minimum daily wage; an increase in pensions; an additional allocation of B20 billion for a village fund; and tax breaks for firms offering more benefits for low-income workers. Many of these measures had already been planned and were brought forward. The stimulus package is likely to push up wage costs and add to the cost impact of the ending of diesel subsidies in July. Overall, both public consumption and investment are expected to contribute to growth in 2005"

Ok an article detailing the state of Thailands GDP in 2005 and a projection of 2006. Its interesting to note that during a period of unprecidented growth in the world GDP, Thaksinomic managed to fall short of projected GDP by 30% and what growth they had was created through removing diesel fuels and massive spending on infrastructure. Again another demonstration that his Budget Is All About Plundering For A Spending Spree.

　

Summary

Macroeconomic indicators are worse than were projected in ADO 2005, with high energy prices a major culprit: GDP growth of 4.0% or slightly higher is now forecast for 2005, revised down sharply from the earlier forecast of 5.6%; inflation has accelerated faster than envisaged; and the trade and current account balances have deteriorated much more than anticipated, and will likely record deficits for the year........... Accelerated public spending, particularly on a “megaprojects” infrastructure program over the next few years, will help momentum pick up, though there is a risk that the program could strain fiscal and external balances.

Edited May 27, 2012 by waza