Populism, Friction Hurt Thai Rating

[siampolee]

Deputy Prime Minister Kittiratt Na-Ranong, who is also finance minister, will today brief analysts from Moody's Investors Service on the country's economic picture and fiscal policies,????????

I do hope the fellow me lad has a doctorate in Embroidery , he sure is going to need it to decorate his presentation.

[Thait Spot]

Deputy Prime Minister Kittiratt Na-Ranong, who is also finance minister, will today brief analysts from Moody's Investors Service on the country's economic picture and fiscal policies,????????

I do hope the fellow me lad has a doctorate in Embroidery , he sure is going to need it to decorate his presentation.

Maybe Chalerm can help with hi pie-eyed charts

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

[khunken]

Well they could always try the lunch box trick. This is a case of a lying government (Kittiratt an expert) attempting to pull the wool over the eyes of credit agencies who lost a lot of their credibility over the sub-prime crisis.

The blind leading the blind.

[GAS]

. The credit agencies aren't easily fooled with little white lies

Same ones that rated everything all triple AAA when they knew it was junk?

Only rating agency that has any truth to it is Egan Jones.

[OzMick]

Sell off a profitable public enterprise, while reducing taxes, so that they can borrow more - is this logical?

[Bluespunk]

Rice.

[indyuk]

I'm no economist, just sayin'..........

Thai Deputy PM stood in front of a microphone and told the world that he lies all the time.

Thailand's has foreign reserves equal to 45% or so of GDP.

The outstanding sovereign dept Borrowed by Thaksin in the 1990's was off loaded to the Bank of Thailand.

Further PM Abhisit tried to borrow the Baht 2,000 per head of the Thai 'in work' population to fund his stimulus package from the Japanese and got turned down.

The Rice Pledging Project (RPP) is expected to continue drawing down funds from government to fund forward buying for this year.

The RPP funds that have been drawn down do not seem to reconcile with rice purchases to date.

The Social Democrats believe that RPP funds are being plundered by corrupt officials.

The Down Payment for the Lao Dam Project seems to have vanished within days of being paid.

Thailand has a huge Black Economy much of which is said to be primed by government money that leaks into the hands of officials.

This leakage is thought to amount to between 20 to 30% of GDP.

Major manufacturers have left Thailand in the last year.

Carefoure have left Thailand after being fed-up with the Dems calling such companies crooks.

If all of this is true why would the rating agencies give Thailand an "A' rating?

Edited January 14, 2013 by indyuk

[Cats4ever]

. The credit agencies aren't easily fooled with little white lies

Same ones that rated everything all triple AAA when they knew it was junk?

Only rating agency that has any truth to it is Egan Jones.

I cannot understand how the credit rating agencies survived their profit driven urge to rate CDOs, Credit default swaps and all the other shonky instruments Triple A, before the Crisis. They should have suffered the same fate as Arthur Andersen after the Enron deceit.

Edited January 15, 2013 by Cats4ever

[Thai at Heart]

. The credit agencies aren't easily fooled with little white lies

Same ones that rated everything all triple AAA when they knew it was junk?

Only rating agency that has any truth to it is Egan Jones.

I cannot understand how the credit rating agencies survived their profit driven urge to rate CDOs, Credit default swaps and all the other shonky instruments Triple A, before the Crisis. They should have suffered the same fate as Arthur Andersen after the Enron deceit.

Ah, but they didn't lie, they were just incompetent.

Lol