Lowest Rate I Ever Got For Pound

[jbrain]

You mean China's fake GDP figures ?

http://www.cnbc.com/id/48279364/Lying_Libor_Is_Nothing_Compared_to_Chinarsquos_Fake_GDP_Report

http://www.scmp.com/news/china/article/1130924/chinese-economist-questions-gdp-growth

Was it prepared by UK economists?

No actually prepared and contested by the Chinese themselves.

[Denizen]

You mean China's fake GDP figures ?

http://www.cnbc.com/id/48279364/Lying_Libor_Is_Nothing_Compared_to_Chinarsquos_Fake_GDP_Report

http://www.scmp.com/news/china/article/1130924/chinese-economist-questions-gdp-growth

Was it prepared by UK economists?

No actually prepared and contested by the Chinese themselves.

Wowee. you are unfrocked as a secret financial wizard. Barclays claim 7.15 percent against Chinese government published 7.6 %. The sky is falling; get out from under.

Chicken Little is a genius.

Edited March 13, 2013 by Denizen

[jbrain]

You mean China's fake GDP figures ?

http://www.cnbc.com/id/48279364/Lying_Libor_Is_Nothing_Compared_to_Chinarsquos_Fake_GDP_Report

http://www.scmp.com/news/china/article/1130924/chinese-economist-questions-gdp-growth

Was it prepared by UK economists?

No actually prepared and contested by the Chinese themselves.

Wowee. you are unfrocked as a secret financial wizard. Barclays claim 7.15 percent against Chinese government published 7.6 %. The sky is falling; get out from under.

Chicken Little is a genius.

Try this one, fresh from the press

http://thediplomat.com/china-power/the-curious-case-of-chinas-gd-figures/

There are also questions about the mechanics of compiling and calculating the GDP figures, including how much inflation is accounted for. The Wall Street Journal recently quoted Standard Chartered economist Stephen Green as saying that he believes that China’s 2012 GDP was closer to 5.5%, as opposed to the official figure of 7.8%. He uses a different measure of service sector inflation, which is higher than the official deflator (the figure that subtracts inflation from growth to come up with GDP).

Have you by the way noticed how many Chinese companies have lately been suspended, are in the process of, from the US stock market for falsifying their books ?

Edited March 13, 2013 by jbrain

[MAJIC]

Sorry to say but the land of Drake, Newton, Darwin and other intellectual, business, and political leaders too numerous to mention is really in a funk right now. I blame the socialist labour party and the unions for making the British economy inefficiency and an expensive place to produce anything. I mean, when was the last time I purchased anything made in the UK other than a box of tea...I can't remember. Things were better when the lady who wasn't for turning was in charge

Only if you were an employer! the employees did the suffering.

[MAJIC]

Only a blip,think it went up a bit late this afternoon. Most people will have some slack in their money stock,just hold your breath for a bit. seems odd when a country like Thailand with a BBB rating can have strong Baht against the pound aa1. Think same thing happened years ago Baht at 38 ,next month down to 97.for a week or so

As usual Thailand defies all rules of economics,and its not called amazing Thailand for nothing.

[Denizen]

You mean China's fake GDP figures ?

http://www.cnbc.com/id/48279364/Lying_Libor_Is_Nothing_Compared_to_Chinarsquos_Fake_GDP_Report

http://www.scmp.com/news/china/article/1130924/chinese-economist-questions-gdp-growth

Was it prepared by UK economists?

No actually prepared and contested by the Chinese themselves.

Wowee. you are unfrocked as a secret financial wizard. Barclays claim 7.15 percent against Chinese government published 7.6 %. The sky is falling; get out from under.

Chicken Little is a genius.

Try this one, fresh from the press

http://thediplomat.com/china-power/the-curious-case-of-chinas-gd-figures/

There are also questions about the mechanics of compiling and calculating the GDP figures, including how much inflation is accounted for. The Wall Street Journal recently quoted Standard Chartered economist Stephen Green as saying that he believes that China’s 2012 GDP was closer to 5.5%, as opposed to the official figure of 7.8%. He uses a different measure of service sector inflation, which is higher than the official deflator (the figure that subtracts inflation from growth to come up with GDP).

Have you by the way noticed how many Chinese companies have lately been suspended, are in the process of, from the US stock market for falsifying their books ?

Have you noticed how many USA companies weren't suspended. e.g. Lehman Brothers, JP Morgan Chase bank for activities of the UK genius the "White Whale". There is xenophobia and antipathy in USA toward Chinese because they don't bend over when Uncle Sam opens its zipper and because they are currently more economically successful than USA..

[fasteddie]

You are having a larf the old crone was the one who sold off British manufacturing to make more profit for her cronies at the expense of the british working man who she despised.

She certainly did not despise the working classes ,but she did hate the fact most did not want to work for a fair wage and spent half the time on strike ,thats why the manufacturers left ,to go where the workforce actually worked ,she may have done much wrong ,but by God she made us proud to be British again .

She most certainly did despise the working man, she hated the fact that those who produced the wealth, demanded a bigger cut of the profits at the expense of her boss cronies. I forget the exact figures, but they're something like this. When she came to power, a CEO was on average paid seven times the salary of middle management. Now, thanks to her and her ilk, and everyone who has followed has been of her ilk, a CEO gets twenty four times that of middle management. She destroyed this country, and we are now reaping the rewards (sic) of her I'm all right Jack free market monetarist policies. She is an evil old skank and I hope she rots in hell.

And as for being proud to be British, I assume you are talking about the Falklands war, which was fought by the armed forces, not her, so it would be the marines and fleet air arm that made us proud.

[fasteddie]

When I came here in Oct 92, I got 37 baht to the pound.

I'm no bread head but don't all currencies have like 10 year cycles?

I suggest accepting that you had it very good in the past and it has come back to normal. It will go up and down again.

Well you got ripped off mate, in Oct 1992 the rate was 45.05baht to the pound, A beach front hut on Lamai was 50baht, a large Singha in the supermarket was 15baht, a bowl of noodles was 5 - 10baht, a year open ticket from the UK was around £300 but could be found cheaper. Those were the days!

[JaiLai]

When I came here in Oct 92, I got 37 baht to the pound.

I'm no bread head but don't all currencies have like 10 year cycles?

I suggest accepting that you had it very good in the past and it has come back to normal. It will go up and down again.

Well you got ripped off mate, in Oct 1992 the rate was 45.05baht to the pound, A beach front hut on Lamai was 50baht, a large Singha in the supermarket was 15baht, a bowl of noodles was 5 - 10baht, a year open ticket from the UK was around £300 but could be found cheaper. Those were the days!

These were indeed the days!!

Unfortunately it looks like they will not return anytime soon.

As well as the good exchange rates IMO Thailand has also lost it's "Mojo".

[tropo]

I think I'll buy some pommie pounds when it bottoms out at 30 baht to the dollar

Where have you been hiding? It's been below 30 baht to the dollar for about a month already... and this is not the first time.

[fasteddie]

When I came here in Oct 92, I got 37 baht to the pound.

I'm no bread head but don't all currencies have like 10 year cycles?

I suggest accepting that you had it very good in the past and it has come back to normal. It will go up and down again.

Well you got ripped off mate, in Oct 1992 the rate was 45.05baht to the pound, A beach front hut on Lamai was 50baht, a large Singha in the supermarket was 15baht, a bowl of noodles was 5 - 10baht, a year open ticket from the UK was around £300 but could be found cheaper. Those were the days!

These were indeed the days!!

Unfortunately it looks like they will not return anytime soon.

As well as the good exchange rates IMO Thailand has also lost it's "Mojo".

You're dead right, if it wasn't for my lovely little lady I'd be looking for pastures new.

[thenervoussurgeon]

You are having a larf the old crone was the one who sold off British manufacturing to make more profit for her cronies at the expense of the british working man who she despised.

She certainly did not despise the working classes ,but she did hate the fact most did not want to work for a fair wage and spent half the time on strike ,thats why the manufacturers left ,to go where the workforce actually worked ,she may have done much wrong ,but by God she made us proud to be British again .

The Falklands war was a huge expense to UK and the ongoing support of Falklands people and sheep is costing huge money annually. Pride has a cost.

Well when the oil starts flowing from the waters around there it will all be repaid ,anyway ,what cost protecting your own people? the Labour lot Blair and co spent far more invading a country looking for "weapons of mass destruction"

[thenervoussurgeon]

You are having a larf the old crone was the one who sold off British manufacturing to make more profit for her cronies at the expense of the british working man who she despised.

She certainly did not despise the working classes ,but she did hate the fact most did not want to work for a fair wage and spent half the time on strike ,thats why the manufacturers left ,to go where the workforce actually worked ,she may have done much wrong ,but by God she made us proud to be British again .

She most certainly did despise the working man, she hated the fact that those who produced the wealth, demanded a bigger cut of the profits at the expense of her boss cronies. I forget the exact figures, but they're something like this. When she came to power, a CEO was on average paid seven times the salary of middle management. Now, thanks to her and her ilk, and everyone who has followed has been of her ilk, a CEO gets twenty four times that of middle management. She destroyed this country, and we are now reaping the rewards (sic) of her I'm all right Jack free market monetarist policies. She is an evil old skank and I hope she rots in hell.

And as for being proud to be British, I assume you are talking about the Falklands war, which was fought by the armed forces, not her, so it would be the marines and fleet air arm that made us proud.

No i was not talking about the Falklands ,but i was proud wheen the wonderfull woman was in charge ,not like when that self serving traitor Blair and his evil wife were filling their pockets.

[fasteddie]

Proud of what? The. Way she systematically dismantled British society? turning brother against brother, father against son? Calling the working man who's hard work and endeavour had made her and her sort rich beyond their wildest dreams and put the "great" in Great Britain? "The enemy within"? She destroyed this great nation and cloned the idiot Blair.

[rgs2001uk]

Proud of what? The. Way she systematically dismantled British society? turning brother against brother, father against son? Calling the working man who's hard work and endeavour had made her and her sort rich beyond their wildest dreams and put the "great" in Great Britain? "The enemy within"? She destroyed this great nation and cloned the idiot Blair.

You may not remember "Sunny Jim" and his "crisis what crisis" remark.

Britain was referred to as "the sick man of Europe" up to its eyes in debt, in very much the same way as the PIGS are now.

She turned the country around and diverted what would have been a financial disaster, exactly what is happening in those failed Euro socialist paradises right now.

Step forward the champion of the masses Milliband, hardly a working class hero, take a look at the (Nu) Labour party today, socialist my ass, Kier Hardie must be spinning in his grave.

Dont even get me started on the war criminal and his witch of a wife.

Probably the last socialist leader they had was John Smith.

[Rimmer]

Further off topic posts about the Iron Lady, China and the British working man will be removed, please stay on the topic which has to do with the exchange rate here vs the pound Sterling and how it is going to affect us all here in Thailand.

[jbrain]

Further off topic posts about the Iron Lady, China and the British working man will be removed, please stay on the topic which has to do with the exchange rate here vs the pound Sterling and how it is going to affect us all here in Thailand.

Isn't the topic about the strenght of the Baht versus the weakeness of the Pound and which causes this and how long it will continue?

[Rimmer]

Further off topic posts about the Iron Lady, China and the British working man will be removed, please stay on the topic which has to do with the exchange rate here vs the pound Sterling and how it is going to affect us all here in Thailand.

Isn't the topic about the strenght of the Baht versus the weakeness of the Pound and which causes this and how long it will continue?

I don't think so, In depth study of that is more suited to the banking forum where several topics on the subject are already running.

To keep it on a local Pattaya level it has to be about how its affecting everyone and how people will cope with it.

[jbrain]

Further off topic posts about the Iron Lady, China and the British working man will be removed, please stay on the topic which has to do with the exchange rate here vs the pound Sterling and how it is going to affect us all here in Thailand.

Isn't the topic about the strenght of the Baht versus the weakeness of the Pound and which causes this and how long it will continue?

I don't think so, In depth study of that is more suited to the banking forum where several topics on the subject are already running.

To keep it on a local Pattaya level it has to be about how its affecting everyone and how people will cope with it.

Ok, fair enough, I'll let you off on this one

[Denizen]

You are having a larf the old crone was the one who sold off British manufacturing to make more profit for her cronies at the expense of the british working man who she despised.

She certainly did not despise the working classes ,but she did hate the fact most did not want to work for a fair wage and spent half the time on strike ,thats why the manufacturers left ,to go where the workforce actually worked ,she may have done much wrong ,but by God she made us proud to be British again .

The Falklands war was a huge expense to UK and the ongoing support of Falklands people and sheep is costing huge money annually. Pride has a cost.

Well when the oil starts flowing from the waters around there it will all be repaid ,anyway ,what cost protecting your own people? the Labour lot Blair and co spent far more invading a country looking for "weapons of mass destruction"

The likelihood of clouds of renewable anus gas in the House of Commons is higher than the likelihood of oil production from Falklands waters.

Edited March 14, 2013 by Denizen

[Oink]

I know of one MAJOR German manufacturer who is moving operations from Thailand to India as Thailand is no longer competitive due to the high exchange rates.

Multi nationals are whores, they will quit thailand at the drop of a hat if it starts hitting their bottom line. and it is doing that right now.

Could be the same as 1997, will the last expat out of the door please turn out the lights, but for different reasons!

Edited March 14, 2013 by Oink

[tropo]

I know of one MAJOR German manufacturer who is moving operations from Thailand to India as Thailand is no longer competitive due to the high exchange rates.

Multi nationals are whores, they will quit thailand at the drop of a hat if it starts hitting their bottom line. and it is doing that right now.

Could be the same as 1997, will the last expat out of the door please turn out the lights, but for different reasons!

This already happened at an alarming rate in the Philippines because they can't supply electricity at a reasonable rate.

One could also accuse local governments of being whores, screwing multi-nationals for every last penny.

Edited March 14, 2013 by tropo

[Denizen]

I know of one MAJOR German manufacturer who is moving operations from Thailand to India as Thailand is no longer competitive due to the high exchange rates.

Multi nationals are whores, they will quit thailand at the drop of a hat if it starts hitting their bottom line. and it is doing that right now.

Could be the same as 1997, will the last expat out of the door please turn out the lights, but for different reasons!

Companies that relocate every time the exchange rate changes are losers. If this was a major economic rationale for business Australia would have no manufacturers at present with the exchange rate having more than doubled against USD and GBP in around 10 years.

Edited March 14, 2013 by Denizen

[cigar7]

The Bank of Thailand foreign currency reserves have been dropping since January. In January 25, 2013 they were US$181,618,630,000 and on March 8, 2013 they were US$177,978,620,000. Hopefully there will be some relief soon.

In October 7, 2009 they were $120,527,260,000 when we were getting 34 baht to US$. Now we are getting about 29.5 baht to US$.

Edited March 19, 2013 by cigar7

[SGD]

When I came here in Oct 92, I got 37 baht to the pound.

I'm no bread head but don't all currencies have like 10 year cycles?

I suggest accepting that you had it very good in the past and it has come back to normal. It will go up and down again.

Well you got ripped off mate, in Oct 1992 the rate was 45.05baht to the pound, A beach front hut on Lamai was 50baht, a large Singha in the supermarket was 15baht, a bowl of noodles was 5 - 10baht, a year open ticket from the UK was around £300 but could be found cheaper. Those were the days!

Whilst I think your prices are a bit off, let's focus more on the inflation effect.

If you roughly approximate a hut for one night to £1 then what does that cost today ? Well, for starters, we don't have huts like that anymore but the last place I saw one had huts for Bt300 and newly built concrete aircon bungalows for Bt900 or 3 x the price. Reverse that and if you can get an aircon room in Lamai for Bt1500 then that makes a hut at Bt500.

That Bt500 is a rough approximation to £10 which is a 1000% or 10 x the price 20 years ago. It has roughly gone up x 5

Certainly noodles haven't risen in price x 10 and a large Singha in the supermarket is what ? about Bt90 or x 6 the 1992 price.

On these very isolated goods, the average price increase is something around x 8 in 20 years. What has the UK been ? x 2 perhaps ?

[PattayaPhom]

Osbourne just announced more QE so 39 soon

[breadbin]

Good, I hope so

[yogi100]

I first came to Pattaya in 1984, nearly 30 years ago and got 32 baht to the GBP.

A Singha beer was 30 baht and a Kloster was 40, no other beer was sold, so a beer cost a pound and upwards, much more than back in the UK.

A decent Thai meal was 30 baht and a falang one from around 50 baht, not cheap back then.

A barfine was 100 - 150 baht. The girls wanted 300 - 500 baht and there was no discussion of ST or LT, they stayed for as long as you wished them to.

My hotel The Royal Garden Resort where the Plaza now stands charged 300 baht joiners fee. This was a common practice as there were very few guest houses or premises that offered budget accommodation.

I did not return for 15 years because it was a very expensive holiday and if and when the pound goes back to 30 odd baht you'll see a mass exodus of British expats who have a modest income and some serious belt tightening by those who are a bit better off.

There will be money to be made in the UK by those who open up benefit funded bed and breakfast accommodation for returning expats. There is no public housing available for elderly Britishers and we could see a return to the workhouse system and many will find themselves in Salvation Army doss houses unless a friend or relative puts them up.

Edited March 21, 2013 by yogi100

[Simhne]

I'm sure Cyprus would be glad of you Yogi.

Edited March 21, 2013 by Simhne

[yogi100]

I'm sure Cyprus would be glad of you Yogi.

Why don't you tell us of your experiences regarding the exchange rate, I'm sure they would be as informative, interesting and as full of substance as your current effort although it is not too clear as to why you're sure that Cyprus should welcome my presence. Neither has it anything to do with the topic under discussion.