Yingluck On Rapidly Appreciating Baht: Don't Panic

[waza]

Dont worry, Yingluck the economic guru is on it. I feel richer already

[55Jay]

That will be nice comfort, that the PM will keep people informed!

Thought the same thing. "Don't panic...... we will keep you informed". <deleted>.

US Government runs out of money again in March, so that'll be really helpful.

[how241]

That will be nice comfort, that the PM will keep people informed!

+1

[bigbamboo]

As the Thai government said there are plusses and minuses to a strong baht.

Larger concerns will be better off but small businesses will suffer. It's a bit like the UK when we joined the Common Market as it was then. Some things were more expensive like bread, eggs, milk, butter, meat etc but a Ferrari was a lot cheaper.

[MaxLee]

Don't worry, I wanna hear one of your kick a$$$ $peache$ again, so we don't need to worry about anything else in the world

[crazykopite]

I have often thought that the baht is kept artificially high for reasons only known to those involved. I am of the opinion that before long it is going to hit Thailand like a tidal wave and send the Country in a downward spiral. Exports will be hit extremley hard as will the tourism industry 8 years ago the baht was 74 to the £ and prices were much cheaper. I often wonder how the average Thai worker survives before long credit will no longer be available when the banks wake up and realize that those who borrowed cannot pay the money back. I know that where I live at least one farang who got his wife to borrow money from the bank and put there house up as collateral they have been given notice that the bank will take possession 31st January !!!!!!!!!!!!

[Soutpeel]

I have often thought that the baht is kept artificially high for reasons only known to those involved. I am of the opinion that before long it is going to hit Thailand like a tidal wave and send the Country in a downward spiral. Exports will be hit extremley hard as will the tourism industry 8 years ago the baht was 74 to the £ and prices were much cheaper. I often wonder how the average Thai worker survives before long credit will no longer be available when the banks wake up and realize that those who borrowed cannot pay the money back. I know that where I live at least one farang who got his wife to borrow money from the bank and put there house up as collateral they have been given notice that the bank will take possession 31st January !!!!!!!!!!!!

Ah a nice postive post on TV for once...

[SouthernMan3]

Don't panic.

Easy.

I live here.

Think it sucks that she got elected, YES.............................

[Thai at Heart]

I have often thought that the baht is kept artificially high for reasons only known to those involved. I am of the opinion that before long it is going to hit Thailand like a tidal wave and send the Country in a downward spiral. Exports will be hit extremley hard as will the tourism industry 8 years ago the baht was 74 to the £ and prices were much cheaper. I often wonder how the average Thai worker survives before long credit will no longer be available when the banks wake up and realize that those who borrowed cannot pay the money back. I know that where I live at least one farang who got his wife to borrow money from the bank and put there house up as collateral they have been given notice that the bank will take possession 31st January !!!!!!!!!!!!

Artificially high? Do you know anything about economics?

[MEL1]

Nope, make the rice even more expensive.

BTW nice ear-rings, wonder if she's got a matching necklace.

I am sure she's had a pearl necklace to go with them.

she's a looker.

She's a what?

Oooh! Looker...... my eyesight must be going, as I thought you wrote something else... lol

Same as yours...... boy oh boy you must be old to consider her a looker!

Ugly a sin itself, and mirrors her brother's appearance very well!

-mel.

[Payboy]

Does anyone know the location of the iceberg that this country may soon collide with?

Surely, it's a riceberg.

[Ian Curtis]

Not such a bad thing when you are moving big slabs of cash offshore.

No mention of whether the Thai Reserve Bank is involved in currency fluctuation modulating (or exacerbation for that matter).

Question: Does the government have any sway over the Royal Bank of Thailand? I don't THINK that it does but I'm sure that I will be corrected by people in the know.

[animatic]

Iceberg yep, and brick wall, rocks hard places and rice warehouses...

filled to the brim with rice they have priced out of the parket.

37% drop in rice sales year on year. The Baht is the least of their problems.

Their policies are titanic in proportion and outlook for the future.

Down the rabbit hole we all go, but without the romance, or faux irish soundtrack.

Edited January 24, 2013 by animatic

[khaowong1]

Do you notice that it's always the really rich that are always saying, don't worry, be happy. ??

[MAJIC]

Coming from the Shinawatra family who between Thaksin and the other family members have many Billions of bhat stashed away,of course there is no need for Panic,they are probably capitalising on the present exchange rate!

Who said don't Panic?

if you answered Monty Python? go to the top of the class.

Edited January 24, 2013 by MAJIC

[MAJIC]

Nope, make the rice even more expensive.

BTW nice ear-rings, wonder if she's got a matching necklace.

I am sure she's had a pearl necklace to go with them.

Naughty, naughty. But seriously, is there another PM in the world who even gets close? I don't care if I'm being sexist, she's a looker.

Unfortunately it takes more than looks to run a Country properly!

[OzMick]

Coming from the Shinawatra family who between Thaksin and the other family members have many Billions of bhat stashed away,of course there is no need for Panic,they are probably capitalising on the present exchange rate!

Who said don't Panic?

if you answered Monty Python? go to the top of the class.

Monty Python? I would have gone for Hitch-hiker's Guide, or Dad's Army as a distant second.

[LUSHGOAT]

I think she's beautiful and probably the sexiest PM in the world and no offence to Thailand or the very gorgeous Yingluck. I think maybe she could do with some sleep.

[OzMick]

I think she's beautiful and probably the sexiest PM in the world and no offence to Thailand or the very gorgeous Yingluck. I think maybe she could do with some sleep.

I would trade sexy for competent any day (or quite a few other more desirable but seriously lacking attributes)

Edited January 24, 2013 by OzMick

[stkyricesf]

Oh No, there goes my two annual trips to LOS for this year. May need to cut the allowances to my boi's there.

[Ricardo]

"The government will take appropriate measures" and "don't panic" ... I would be so very relieved, if I thought this wasn't just more 'white lies' and misplaced optimism, the current sudden-strength of the Baht clearly threatens to disrupt (to some extent) international-trade and tourism and those all-important rice-sales.

Meanwhile I thank the gods I just brought in several months' living-expenses, before the jump in the exchange-rate, by pure chance !

But longer-term, "Don't panic, the poo-yais know what they're doing" just doesn't cut it, I'm afraid.

[geriatrickid]

I don't quite understand the plaintive cries, the rending of singlets and the tearing out of combovers.

If the baht is strengthening, doesn't that reflect investors' confidence and an inherent strength in the the Thai economy?

The same complaints were made when the Canadian loonie appreciated against its largest trading partner, the USA. The economy would collapse the argument went, and yet there the Canadian economy stands considered one of the better performers in the world. The same for the Australian dollar. Two years ago we were treated to statements that Australia would fall apart. And yet, Australia has one of the more robust economies in the world. The Canadians adapted, forced to do so when the $C reached parity with the $U. Maybe, a bit of forced adaptation with a kick in the posterior to improving productivity and efficiency is what Thailand needs?

If the government was doing a poor job of managing the economy, the baht would have tanked by now , right?

On one hand we are treated to statements that the government is fiscally inept, and now that the baht reflects a vibrant economy, people are complaining. Sure it hurts some of us, since our FX goes less, but is it hurting the Thai in the street?

[stoli]

All over the world, the price tags on goods from Thailand will soon be changing across the board, and they will be changing upward. This is not going to help the world economy, is it?

Even if the baht were to weaken next month, it will be too late. Once the price has increased around the world, it will not come back down. Before Yingluck can get a directive from her brother, the damage will be done.

Edited January 25, 2013 by stoli

[55Jay]

Do you notice that it's always the really rich that are always saying, don't worry, be happy. ??

And that all Thais (except them) should embrace the subsistence lifestyle.

[Buchholz]

Yingluck On Rapidly Appreciating Baht: Don't Panic

Rather than panic, the appreciating baht coupled with fantastic incomes is cause for sheer jubilation!

PM Yingluck vows to raise income per person to over THB 500,000/year within 14 years

BANGKOK, 24 January 2013 (NNT) - Prime Minister Yingluck Shinawatra has clarified with heads of all state departments and provincial governors the government’s key strategic policies to drastically develop the country.

PM Yingluck, on Thursday, announced the four strategies designed to help bring Thailand forward while getting ready for the ASEAN Economic Community in 2015.

The first is the boosting of competitiveness to help turn Thailand from a low-income country into a moderate income one and the second is the bridging of gaps for equality in society.

The third strategy is the economic growth promotion, driven by a need for better quality of life and the sense of environmental friendliness. The last strategy focuses on a balanced development of the bureaucratic system.

The Premier said that the government has also worked out the budget allocation to go in line with these strategies, while urging all state offices to integrate their work plans with these strategies.

She added that the government is ambitious to make the country achieve an annual economic growth rate of 5-6% and to boost per capita income to 544,213 baht within 2027.

-- NNT 2013-01-24

Edited January 25, 2013 by Buchholz

[tingtongtourist]

do you trust those eyes ...

Actually the smile does look a little bit crooked..just like someone else she does know very well

[billd766]

Coming from the Shinawatra family who between Thaksin and the other family members have many Billions of bhat stashed away,of course there is no need for Panic,they are probably capitalising on the present exchange rate!

Who said don't Panic?

if you answered Monty Python? go to the top of the class.

It was actually Cpl Jones from Dad's Army.

[Thai at Heart]

All over the world, the price tags on goods from Thailand will soon be changing across the board, and they will be changing upward. This is not going to help the world economy, is it?

Even if the baht were to weaken next month, it will be too late. Once the price has increased around the world, it will not come back down. Before Yingluck can get a directive from her brother, the damage will be done.

Since when is Yingluck managing or working on behalf of the world economy? Strewth. Do you understand anything about the way the currency or economics in the world work? As for Thaksin destroying on his own the strength of the Thai economy, yee gads, he has some cash, but I think the USA 16tn USD debt outweighs Thaksin's pockets.

[Naam]

All over the world, the price tags on goods from Thailand will soon be changing across the board, and they will be changing upward. This is not going to help the world economy, is it?

Even if the baht were to weaken next month, it will be too late. Once the price has increased around the world, it will not come back down. Before Yingluck can get a directive from her brother, the damage will be done.

for full six years i hear that wishful thinking fairy tale/warning "devalue Baht or else!" over and over again

that the BoT has tried hard to slow down the appreciation (evidence Thai reserves from $80 billion in the crisis year 2008 till today's $200 Billion) nobody seems to realise.

oh well...

[waza]

All over the world, the price tags on goods from Thailand will soon be changing across the board, and they will be changing upward. This is not going to help the world economy, is it?

Even if the baht were to weaken next month, it will be too late. Once the price has increased around the world, it will not come back down. Before Yingluck can get a directive from her brother, the damage will be done.

for full six years i hear that wishful thinking fairy tale/warning "devalue Baht or else!" over and over again

that the BoT has tried hard to slow down the appreciation (evidence Thai reserves from $80 billion in the crisis year 2008 till today's $200 Billion) nobody seems to realise.

oh well...

The Thai government is about to borrow 2 trillion Baht in potential profits for someone and a world of investors looking for a return, money is flocking to Thailand.

Edited January 25, 2013 by waza