The Thai-Baht And The Future Of Farangs In Thailand

[impulse]

Guys if you can't live on your pension here you have no chance in Australia

But in Australia, a retired person can legally pick up some work to supplement their pension if they need to. Can't do that on a retirement visa here.

[NeverSure]

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9891082/Trade-protectionism-looms-next-as-central-banks-exhaust-QE.html

When the above link proves to be correct and the west starts to protect their economies in the same way nations like Thailand do, then the Thai export market won't be too hot.

Asian countries can only copy and offer cheap labour, when western govts can no longer print and borrow and western taxpayers can no longer afford to fund people to sit on their backsides so companies like Apple can make obscene profits by outsourcing jobs then the fun will begin.

Now we're making some sense.

China got, and gets, its money from the West. So did and does every other Asian country.

There is no such thing as a collapse of the West or even just Western currencies without a corresponding collapse in Asia.

Even the mighty Japan, N. Korea and Taiwan who were way ahead of the game before China or Thailand even had a thought would collapse.

Thailand gets its money directly or indirectly from the West. Even Asian countries which buy from Thailand first get their money from the West.

Thailand is riding high on a wave of corruption, public debt, foreign investment and even skyrocketing debt in the general population.

Where have I see that before?

The West will be the one to defend itself from Asia. The West is economically HUGE compared to Asia. Asia can be smug only as long as the Western money flows. Whether it be an economic collapse in the West, or a defensive move by the West, Asia will not overtake the West in my lifetime.

[LawrenceChee]

Never sure - I am not sure how many more years you have of your life expectancy but don't hold your breath. Too many on this forum seems to want to move on without seeing the dominance of Asia for many years to come. I understand why.

Asia will never show it's successes and rant about its money holdings, spending power etc. it's just against the culture. There is no doubt many Asian governments have learnt from the few financial crisis in the latvdecade to know not everything from the west is good and vs versus

The sad decline of the west has nothing to do with the east. self habits for over consumption and reliance on its superiority systems is leading itself to death of its economy, no assistance needed from the Asian. As for its dominance in world opinions, arts and culture, that's hard to quantify as many cultures in Asia have their own distinct art...maybe not everything will end up in the Lourve, but it does not mean its not artistic or unappreciated by the right audience

I know there will be some Chinese ranters coming out to speak of the Chinese spending like there is no tomorrow and showing off, these are the middle class in aspirations of spending new money , the excitement. There are aplenty still in the western economies doing the same buying cars, holidays, houses on loans. At least the Chinese is spending cash not credit. Without them buying, unfortunately we will lose many of the brand we love.

Unfortunately this habit of overspending is from the west and many older generation of Asians are shaking their headband hoping this disgusting habit down not permeate itself for permanence.

My parents and I are knocking the knuckles of my nephew if he overspend his weekly allowance, we get him to account for his money in a ledger like our grandad a taught us and if he want something he bette earn the $$$ first or quit dreaming he will have it for Christmas.

The richer Asians who are in power rarely grant interviews, rarely display their money and yes they enjoy life but in the quiet companionship of family and close friends.

I feel for my western or eastern counterparts who have overspend beyond their means

The advertising is slick and the temptation is real . At the end of the day it's about contentment and being happy with what you have.

[poanoi]

I think you saw it in USA.

For every dollar USA want to spend, they have to borrow 40% from the Chinese, or the economy collapses

http://understandingfiscalresponsibility.org/georgenantwi/i-owe-you-usa-i-o-u-s-a
http://www.iousathemovie.com/

[Denizen]

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9891082/Trade-protectionism-looms-next-as-central-banks-exhaust-QE.html

When the above link proves to be correct and the west starts to protect their economies in the same way nations like Thailand do, then the Thai export market won't be too hot.

Asian countries can only copy and offer cheap labour, when western govts can no longer print and borrow and western taxpayers can no longer afford to fund people to sit on their backsides so companies like Apple can make obscene profits by outsourcing jobs then the fun will begin.

Perhaps UK can retrain unemployed as coal miners and recommence coal mining and coal burning. Next employment boom would be chimney sweeps followed by doctors treating bronchial conditions.

Sighhhh; the late 1800s, the good old days when UK's biggest export was domestic servants and clouds of smog wafting across the channel.

Edited February 25, 2013 by Denizen

[Denizen]

Never sure - I am not sure how many more years you have of your life expectancy but don't hold your breath. Too many on this forum seems to want to move on without seeing the dominance of Asia for many years to come. I understand why. Asia will never show it's successes and rant about its money holdings, spending power etc. it's just against the culture. There is no doubt many Asian governments have learnt from the few financial crisis in the latvdecade to know not everything from the west is good and vs versus The sad decline of the west has nothing to do with the east. self habits for over consumption and reliance on its superiority systems is leading itself to death of its economy, no assistance needed from the Asian. As for its dominance in world opinions, arts and culture, that's hard to quantify as many cultures in Asia have their own distinct art...maybe not everything will end up in the Lourve, but it does not mean its not artistic or unappreciated by the right audience I know there will be some Chinese ranters coming out to speak of the Chinese spending like there is no tomorrow and showing off, these are the middle class in aspirations of spending new money , the excitement. There are aplenty still in the western economies doing the same buying cars, holidays, houses on loans. At least the Chinese is spending cash not credit. Without them buying, unfortunately we will lose many of the brand we love. Unfortunately this habit of overspending is from the west and many older generation of Asians are shaking their headband hoping this disgusting habit down not permeate itself for permanence. My parents and I are knocking the knuckles of my nephew if he overspend his weekly allowance, we get him to account for his money in a ledger like our grandad a taught us and if he want something he bette earn the $$$ first or quit dreaming he will have it for Christmas. The richer Asians who are in power rarely grant interviews, rarely display their money and yes they enjoy life but in the quiet companionship of family and close friends. I feel for my western or eastern counterparts who have overspend beyond their means The advertising is slick and the temptation is real . At the end of the day it's about contentment and being happy with what you have.

Remember the 50s and 60s when Japanese goods were considered cheap inferior quality stuff. Now Japanese goods are valued high tech high quality products and people would not hesitate to choose a Japanese product over a price-comparable European or American product. e.g. cars.

The same can be said of Taiwan and South Korea.

The sun rises in the East and sets in the West.

[WAYNEandAEI]

.

nobody remembers end of october 2008 when AUD 1 bought 21 Baht?

I do

I remember, it was this time we built our home here in Thailand with AUD.

[Denizen]

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9891082/Trade-protectionism-looms-next-as-central-banks-exhaust-QE.html

When the above link proves to be correct and the west starts to protect their economies in the same way nations like Thailand do, then the Thai export market won't be too hot.

Asian countries can only copy and offer cheap labour, when western govts can no longer print and borrow and western taxpayers can no longer afford to fund people to sit on their backsides so companies like Apple can make obscene profits by outsourcing jobs then the fun will begin.

I would like to see that fun begin when British workers agree to work for 300 Baht a day to attract manufacturing and compete.

You seem to misunderstand what protectionism is.

We had protectionism up until the late 70s, nobody was on such low wages then ... its coming.

Protectionism = no competition = high priced inferior quality products.

I thought UK already worked that out which is why there are no large manufacturers in the UK anymore.

Have you considered introducing pineapple and coconut farming into the UK?

The UK peasantry is desperate for leadership.

Edited February 25, 2013 by Denizen

[David48]

... the dominance of Asia for many years to come. I understand why. Asia will never show it's successes and rant about its money holdings, spending power etc. it's just against the culture. <snip>

Mate ... great post, but maybe a slightly different composure for easy reading.

May I?

Neversure - I am not sure how many more years you have of your average life expectancy ... but don't hold your breath.

Too many on this forum seem to want to move on without seeing the dominance of Asia for many years to come.

I understand why Asia will never show it's successes and rant about its money holdings, spending power etc ... it's just against the culture.

There is no doubt many Asian governments have learnt from the few financial crisis in the last decade to know that not everything from the west is good.

The perceived sad decline of the West has naught to do with the East.

Self habits for over consumption and reliance on it's superiority systems is potentially leading itself to death of its economy, no assistance needed from Asia.

As for its dominance in world opinions, arts, culture and the like, it's hard to quantify as many cultures in Asia have their own distinct art. Maybe not everything will end up in the Louvre, but it does not mean its not artistic or unappreciated by the right audience.

There will be Chinese ranters coming out to speak of the Chinese spending like there is no tomorrow and showing off ... but these are the middle class in aspirations of spending new money, the excitement ... as you say ... the buzz.

The western economies are doing what they have done in the past ... pretty much, the same ... buying cars, holidays, houses on loans.

At least the Chinese is spending cash not credit. Without them buying, unfortunately we will lose many of the 'top shelf' brands we (well, our partners ... ) have learned to love.

Sadly his habit of overspending is from the West and many an older generation of Asians are shaking their heads, hoping this disgusting habit down not permeate itself for permanence.

My parents and I are knocking the knuckles of my nephew if he overspend his weekly allowance, we get him to account for his money in a ledger like our Granddad a taught us.

If he wants something, he better earn the $$$ first or quit dreaming he will have it for Christmas!

The richer Asians who are in power rarely grant interviews, rarely display their money.

Yes, they enjoy life, but in the quiet companionship of family and close friends.

I feel for my Western or Eastern counterparts who have overspend beyond their means.

The advertising is slick and the temptation is real.

At the end of the day it's about contentment and being happy with what you have.

.

[HardenedSoul]

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9891082/Trade-protectionism-looms-next-as-central-banks-exhaust-QE.html

When the above link proves to be correct and the west starts to protect their economies in the same way nations like Thailand do, then the Thai export market won't be too hot.

Asian countries can only copy and offer cheap labour, when western govts can no longer print and borrow and western taxpayers can no longer afford to fund people to sit on their backsides so companies like Apple can make obscene profits by outsourcing jobs then the fun will begin.

I think you're over-estimating the importance of the West to Asia. The West has been in dire straits for some time but the Asian economies are in rude health. Sure, they're managing that by repeating West's mistakes with easy credit in an effort to increase domestic demand for their produce but, for now, it seems to be working.

It doesn't matter if the Asian countries "can only copy and offer cheap labour" . . . what matters is that they're selling that into domestic demand as well as export markets.

There was a lot of talk about the inability of Asia to decouple from the West but that was shown to be just what it was - talk.

[tw25rw]

If you think Thailand is expensive try living in Australia, the cost of living has sky rocketed in the last few years, meat,fruit and veg have all increased to ridiculous prices,my house insurance with R.A.C.Q, went from $700 two years ago $1200 the next year and last year $3995. When I complained I was told it was because of all the floods and fires we have in Aussie add on to that $3000+ rates and that does not include water another $1400 a year. Small, and medium business are closing down at an alarming rate and they are the biggest employers, shops stand empty in many towns and cities rows of them.

Guys if you can't live on your pension here you have no chance in Australia

It's ridiculous. I want to go back there, but it will kill my savings. I'm actually hoping there's a correction to bring the currency back down, ideally to late 2008 levels....

[LawrenceChee]

I was just on Perth Sydney and Adelaide and the living costs is insane ...what a difference !

Food court meals start at 10 bucks aussie minimum for a decent meal

I will stay here gladly @ 100 baht does the trick at Big C plus there is more to see here :-)

[MrWorldwide]

If you think Thailand is expensive try living in Australia, the cost of living has sky rocketed in the last few years, meat,fruit and veg have all increased to ridiculous prices,my house insurance with R.A.C.Q, went from $700 two years ago $1200 the next year and last year $3995. When I complained I was told it was because of all the floods and fires we have in Aussie add on to that $3000+ rates and that does not include water another $1400 a year. Small, and medium business are closing down at an alarming rate and they are the biggest employers, shops stand empty in many towns and cities rows of them.

Guys if you can't live on your pension here you have no chance in Australia

It's ridiculous. I want to go back there, but it will kill my savings. I'm actually hoping there's a correction to bring the currency back down, ideally to late 2008 levels....

Exactly how would a drop in the value of the Australian dollar magically push prices of everything from food to insurance back down, pray tell ? Those prices will remain high - given the pounding that the East Coast has taken over the last week, the next set of insurance premiums could be even higher. Wishing for 21 baht to the dollar simply so that you can afford to fly back to Oz is pathetic - I'm sure you weren't too cut up about moving to Asia when you left our fair shores ....

antiquepete is correct - Australians forced to live on the aged pension are doing it tougher with each passing year. No devaluation against the baht will change that - an increasingly large chunk of our supermarket shelves is comprised of tinned goods made in, you guessed it, Thailand.

[Denizen]

If you think Thailand is expensive try living in Australia, the cost of living has sky rocketed in the last few years, meat,fruit and veg have all increased to ridiculous prices,my house insurance with R.A.C.Q, went from $700 two years ago $1200 the next year and last year $3995. When I complained I was told it was because of all the floods and fires we have in Aussie add on to that $3000+ rates and that does not include water another $1400 a year. Small, and medium business are closing down at an alarming rate and they are the biggest employers, shops stand empty in many towns and cities rows of them.

Guys if you can't live on your pension here you have no chance in Australia

It's ridiculous. I want to go back there, but it will kill my savings. I'm actually hoping there's a correction to bring the currency back down, ideally to late 2008 levels....

Exactly how would a drop in the value of the Australian dollar magically push prices of everything from food to insurance back down, pray tell ? Those prices will remain high - given the pounding that the East Coast has taken over the last week, the next set of insurance premiums could be even higher. Wishing for 21 baht to the dollar simply so that you can afford to fly back to Oz is pathetic - I'm sure you weren't too cut up about moving to Asia when you left our fair shores ....

antiquepete is correct - Australians forced to live on the aged pension are doing it tougher with each passing year. No devaluation against the baht will change that - an increasingly large chunk of our supermarket shelves is comprised of tinned goods made in, you guessed it, Thailand.

Those wishing to return to their homelands need to wait about ten years for substantial appreciation of the Baht. It is happening slowly. However there is considerable uncertainty on their home currency trend. In 1985 it was A$ 1 = Baht 17 and USD 1 = Baht 21. With Australia's boom-bust resources cycles a similar rate might be 10 years away.

I doubt whether the GBP has much of a future. UK already has low wages and if they get lower the Baht 300 daily wage in Thailand might look attractive to UK workers. UK trade balance will be adversely affected by declining North Sea oil and gas production and rising oil and gas prices magnified by falling GBP.

There may be negative economic trends in Australia which cause employment disruption due to high and rising exports of minerals and oil and gas which puts upward pressure on A$ and downward pressure on manufacturing and service industry employment.

[tw25rw]

Exactly how would a drop in the value of the Australian dollar magically push prices of everything from food to insurance back down, pray tell ? Those prices will remain high - given the pounding that the East Coast has taken over the last week, the next set of insurance premiums could be even higher. Wishing for 21 baht to the dollar simply so that you can afford to fly back to Oz is pathetic - I'm sure you weren't too cut up about moving to Asia when you left our fair shores ....

I'm in England. I got shafted when I came here and now I'll get shafted when I go home. I hope the bubble bursts soon, because that is what it is.

[MrWorldwide]

Exactly how would a drop in the value of the Australian dollar magically push prices of everything from food to insurance back down, pray tell ? Those prices will remain high - given the pounding that the East Coast has taken over the last week, the next set of insurance premiums could be even higher. Wishing for 21 baht to the dollar simply so that you can afford to fly back to Oz is pathetic - I'm sure you weren't too cut up about moving to Asia when you left our fair shores ....

I'm in England. I got shafted when I came here and now I'll get shafted when I go home. I hope the bubble bursts soon, because that is what it is.

Bubble or no bubble, why go home if it means you will be 'shafted' ?

[Denizen]

Exactly how would a drop in the value of the Australian dollar magically push prices of everything from food to insurance back down, pray tell ? Those prices will remain high - given the pounding that the East Coast has taken over the last week, the next set of insurance premiums could be even higher. Wishing for 21 baht to the dollar simply so that you can afford to fly back to Oz is pathetic - I'm sure you weren't too cut up about moving to Asia when you left our fair shores ....

I'm in England. I got shafted when I came here and now I'll get shafted when I go home. I hope the bubble bursts soon, because that is what it is.

Bubble or no bubble, why go home if it means you will be 'shafted' ?

Masochism? Or testing the stiffness of the upper lip? There's no bubble. There's a major realignment of national economies happening reflecting corrections to years of distortions. Don't hold your breath waiting for the bubble to burst.

Edited February 25, 2013 by Denizen

[MrWorldwide]

Just out of wild curiosity, without resorting to Google, how many here know which country has the largest economy in SEA ?

[StreetCowboy]

Exactly how would a drop in the value of the Australian dollar magically push prices of everything from food to insurance back down, pray tell ? Those prices will remain high - given the pounding that the East Coast has taken over the last week, the next set of insurance premiums could be even higher. Wishing for 21 baht to the dollar simply so that you can afford to fly back to Oz is pathetic - I'm sure you weren't too cut up about moving to Asia when you left our fair shores ....

I'm in England. I got shafted when I came here and now I'll get shafted when I go home. I hope the bubble bursts soon, because that is what it is.

Bubble or no bubble, why go home if it means you will be 'shafted' ?

there's no place like home

[Denizen]

Just out of wild curiosity, without resorting to Google, how many here know which country has the largest economy in SEA ?

It must be Indonesia with a population of 180+ million.

[elliss]

THE ELEVENTH HOUR,

now is the time to take the bull/ buffalo by the horns

time, along with the gbp is running out .

we need volunteer farang groups [pref.ex civil service ]

to open ,and man the soup kitchens , in the provinces .

many thanks,

Edited February 25, 2013 by elliss

[angiud]

One post deleted. Remember Thaivisa rule #2

2) Not to express disrespect of the King of Thailand or anyone else in
the Thai royal family, whether living or deceased, nor to criticize the
monarchy as an institution. Speculation, comments and discussion of
either a political or personal nature are not allowed when discussing HM
The King or the Royal family. Discussion of the lese majeste law or
lese majeste cases is permitted on the forum, providing no comment or
speculation is made referencing the royal family. To breach this rule
will result in immediate ban.

[maturebrit]

Just out of wild curiosity, without resorting to Google, how many here know which country has the largest economy in SEA ?

It must be Indonesia with a population of 180+ million.

Indonesia is over 230 million so I would go with them

[tw25rw]

Masochism? Or testing the stiffness of the upper lip? There's no bubble. There's a major realignment of national economies happening reflecting corrections to years of distortions. Don't hold your breath waiting for the bubble to burst.

Of course it's a bubble and it's largely propped up by Chinese money. It just feels solid, as does any other boom time.

[tw25rw]

Bubble or no bubble, why go home if it means you will be 'shafted' ?

Naturally I want to go home. I just don't want to blow all my savings getting estblished again.

[Rob8891]

David................. You gloating sheep-shearer..... But a great pic choice, nevertheless. ..............and limes are STILL only 35p here, btw

[MJP]

Please don't ignore the fact that all currencies are being debased in value against real things as central banks practice quantitative easing and internal bond buying.. Short term fluctuation in value between currencies is just a distraction.

This is a very tough situation for those on fixed income and those who have their savings in cash should be the most worried, regardless of which denomination they hold.

[LawrenceChee]

It's in every news channel for the last 2 days

[LawrenceChee]

Very good time for the Chinese to get an Oxford education, never been a cheaper time.

[khunano]

Yes, same for me. 11 yrs have been great but it's over. Not even 30 baht /USD. Really sucks! More than a $ for a cheap beer at the 7 and its only 10oz? Hell, can get 12 oz beer for 50 cents in the STATES. No bargains here anymore.

Not knowing how many of those cans you consume per day, but on my average consumption the difference between Thai and US prices would be a staggering US$ 45 per month or an amount that you will have to spend on e.g. much higher rent back home.