Baht Rise A Sign Of Confidence

[cdnvic]

Personal attacks have been removed and posting bans handed out. Please discuss this without having to attack each other.

[Rancid]

Well as some have commented a high baht is good for pumping money out of ther country, can't imagine the corrupt bureaucrats and politcians would be doing that would they? bout that rice sheme...Likewise as the rampant money devaluers crank up the printing presses to float their bankrupt economies those that don't see their currencies appreciate. There again I'm off home soom so really don't care.

[midas]

In comparison to the strength of the Thai baht I thought this presentation on ABC TV the other night about the concerns that the Indonesian Rupiah may be falling too quickly and too much was quite an interesting contrast…..

Particularly as one of the problems they cite in Indonesia is their huge bill for importation of oil. And yet I would have thought the conditions would not be dramatically different in Thailand ( particularly with the Thai government promoting more cars on the road ) where they also subsidise the cost of this to the public?

There will no doubt be more Aussies flocking to Bali again for their vacations

http://www.abc.net.au/news/2013-03-12/indonesias-rupiah-rapidly-falling/4569024

The biggest economy in SEA has a weakening currency despite double-digit economic growth year-on-year ? Could it be that someone is questioning whether the fundamentals match those numbers ? Beats me, but I will definitely search iView for the program you mentioned.

http://www.xe.com/currencycharts/?from=USD&to=IDR&view=5Y

http://www.xe.com/currencycharts/?from=EUR&to=IDR&view=5Y

http://www.xe.com/currencycharts/?from=AUD&to=IDR&view=5Y

I wouldn't be too quick to write Indonesia off - how many regional economies have 230 million consumers and an almost endless supply of cheap labor ? Potential problems - sure, but they aren't alone in that regard. Interesting times ahead.

It was just on ABC news again this evening that Indonesia is looking to review its subsidy on fuel because its really hurting the govt. The problem in Indonesia is that the rich are buying more and more cars.

The report said the problem is likely be tackled by trying to reduce consumption rather than increasing fuel prices, which would result in street protests when they tried to do it last time.

Does anyone happen to know how the fuel subsidy in Indonesia compares with the subsidy here in Thailand?

[andytime]

When you are buying all of your own products - rice, rubber, pineapples, prawns, sugar, tapioca, shallots et al with borrowed money at 50% over market prices I can't see that there will be any problem doing that (sarc). There certainly is enough rooms for everybody to fit in anyway with just a few left over and some new empty shopping centres (and a few more on the way) with overpriced goods in. I can't wait for Emporium 2 to open means 1/2 the number of people in Emporium 1 which I guess only means a few. Yes Asian tourists might be replacing the Westerners but many are on package holidays where the shared cone at mcdonalds is a treat at the end. Try work out the margin on that one. There are many wealthy ones as well but far fewer than tourist numbers seem to indicate. I guess all sustainable growth when you look all around. Wait until the Jap, Euro and Chinese days of reckoning are upon us and then Taksin will be able to dial in an offer his advice on skype. i guess the advice will be steal a bit more (and give it to him). The world is in a bit of a mess and excess inventories everywhere are sort of starting to show. The world has gross oversupply of everything - except energy and food. As for all the other treats humans are like fish with terribly short memories and most don't have a month's salary in the bank so not sure how well that is going to end - in Thailand or elsewhere.

[aussiebebe]

Waiting patiently for the price of imported goods and oil/gas to come down.........................................................

Snickers bars have fallen from '3 for 54' to '3 for 49' in Makro.

Do remember 5 years ago when a fun-size Snickers was 30baht? Oh how times have changed. It used to be a choice between a morsel of chocolate or a generous serving of Thai food like cow moo daeng for the same price. I recently visited a cow moo daeng shop where I used to live and was saddened by what has happened; the serving was tiny, slimy, cheap and costlier, without the egg or sausage that the place used to serve.

[khaowong1]

be careful , a Thai Bath ,too strong will be a problem for Export and Tourism , which are the 2 major currency income for the country.

That was my thoughts exactly.. It's nice to brag about a strong currency, but when it's much stronger than say the pound, dollar or euro, it's going to cause major problems with exports and the all famous Thai tourism. Not something they want. Look at their rice exports right now.. But hey, we're Thailand, we have a strong currency.. LOS

[khaowong1]

Thats the way to keep the tourist away... With the Pound the Euro and the Dollar Exchange rate No one can afford to come to Thailand on Holiday. So many other countries the rate is Much better. Thailand is hurting it's self.... Wake the F&*% up!!!!!!!

Given who the majority of tourist are

maybe not really much of a concern ?

GBP just barely made the top 10

USD & EURO did not

tourism Thailand.jpg

Also This,

>>A study of tourism 'leakage' in Thailand estimated that 70% of all money spent by tourists ended up leaving Thailand (via foreign-owned tour operators, airlines, hotels, imported drinks and food, etc.). Estimates for other Third World countries range from 80% in the Caribbean to 40% in India.

http://www.unep.org/resourceefficiency/Business/SectoralActivities/Tourism/FactsandFiguresaboutTourism/ImpactsofTourism/EconomicImpactsofTourism/NegativeEconomicImpactsofTourism/tabid/78784/Default.aspx

If you look at the top 7 countries, their only a few hours flight time from Thailand.. The cost of air travel makes a huge difference. And also the majority of the top 7 come in on tour operations. where as mostly those from Europe, Australia and the US come in single or in small groups, and the cost of coming in single or small groups are finding the costs not worth the travel. I can speak only about the US, but most of those holiday travelers are now finding better travel bargains to the Caribbean, especially those holiday seekers of nice beaches.

Edited March 14, 2013 by khaowong1

[attento]

Waiting patiently for the price of imported goods and oil/gas to come down.........................................................

And i am waiting for pigs to fly. in fact i notice some imports from Britain have gone up in price ,how this?

Just maybe, the Thai importers are looking for higher returns ? A time of exchange rate turbulence is a great time to up the Margins. If the customer complains, blame the Government.

Edited March 14, 2013 by attento

[attento]

It is not only a loss of revenue to Thailand by the tourists who have a set amount of money put by for their holiday only to find that they can now buy about 20% less (if GBP) now than say 3 months ago but one will also find due to general price rises there is even less goods to purchase with your amount of Dollar, Euro, Yen or GBP.

How many guys overseas are sending money to their wives/girlfriends.(Thankfully not me now as I live here) Quite a few I reckon, and now they will finding it hard to make the payments they agreed on. This I am sure will be causing them a lot of headaches and a lot earache from the ladies of the men who cannot find a further 20% of funds.

Overall this means that generally shop keepers will find their turnover/profit margins will be way down as less money spent by those living here whose pension/income are severely effected, plus those that come on holiday and amount of cash sent to their other half.

I can definetely see it effecting tourism in the future.

I am not saying to live in Thailand is expensive as it is still relatively cheap compared to say the UK but it was not like it was a few years back and I do not think things will improve.

Those that are planning on retirement or a move to Thailand will have to do their sums again and be prepared for the worst.

I can see a Euro 35B, GBP 40B and US Dollar 28B in the not too distant future.

Oh happy days!

The Thais maybe more interested in convesrion from RMB, YEN and WON.

[attento]

Thats the way to keep the tourist away... With the Pound the Euro and the Dollar Exchange rate No one can afford to come to Thailand on Holiday. So many other countries the rate is Much better. Thailand is hurting it's self.... Wake the F&*% up!!!!!!!

Given who the majority of tourist are

maybe not really much of a concern ?

GBP just barely made the top 10

USD & EURO did not

tourism Thailand.jpg

Also This,

>>A study of tourism 'leakage' in Thailand estimated that 70% of all money spent by tourists ended up leaving Thailand (via foreign-owned tour operators, airlines, hotels, imported drinks and food, etc.). Estimates for other Third World countries range from 80% in the Caribbean to 40% in

India.

http://www.unep.org/resourceefficiency/Business/SectoralActivities/Tourism/FactsandFiguresaboutTourism/ImpactsofTourism/EconomicImpactsofTourism/NegativeEconomicImpactsofTourism/tabid/78784/Default.aspx

If you look at the top 7 countries, their only a few hours flight time from Thailand.. The cost of air travel makes a huge difference. And also the majority of the top 7 come in on tour operations. where as mostly those from Europe, Australia and the US come in single or in small groups, and the cost of coming in single or small groups are finding the costs not worth the travel. I can speak only about the US, but most of those holiday travelers are now finding better travel bargains to the Caribbean, especially those holiday seekers of nice beaches.

The cost of air travel is to a some extent influenced by the Taxation policy in the local country. Not the fault of Thai government policies.

[attento]

be careful , a Thai Bath ,too strong will be a problem for Export and Tourism , which are the 2 major currency income for the country.

That was my thoughts exactly.. It's nice to brag about a strong currency, but when it's much stronger than say the pound, dollar or euro, it's going to cause major problems with exports and the all famous Thai tourism. Not something they want. Look at their rice exports right now.. But hey, we're Thailand, we have a strong currency.. LOS

Exchange rates are not decided unilaterally. Sure, the Thai government could adopt policies to make Thailand a less attractive country for investment. This is a budgetry dilemna for all countries.

[MrWorldwide]

Thats the way to keep the tourist away... With the Pound the Euro and the Dollar Exchange rate No one can afford to come to Thailand on Holiday. So many other countries the rate is Much better. Thailand is hurting it's self.... Wake the F&*% up!!!!!!!

Given who the majority of tourist are

maybe not really much of a concern ?

GBP just barely made the top 10

USD & EURO did not

tourism Thailand.jpg

Also This,

>>A study of tourism 'leakage' in Thailand estimated that 70% of all money spent by tourists ended up leaving Thailand (via foreign-owned tour operators, airlines, hotels, imported drinks and food, etc.). Estimates for other Third World countries range from 80% in the Caribbean to 40% in

India.

http://www.unep.org/resourceefficiency/Business/SectoralActivities/Tourism/FactsandFiguresaboutTourism/ImpactsofTourism/EconomicImpactsofTourism/NegativeEconomicImpactsofTourism/tabid/78784/Default.aspx

If you look at the top 7 countries, their only a few hours flight time from Thailand.. The cost of air travel makes a huge difference. And also the majority of the top 7 come in on tour operations. where as mostly those from Europe, Australia and the US come in single or in small groups, and the cost of coming in single or small groups are finding the costs not worth the travel. I can speak only about the US, but most of those holiday travelers are now finding better travel bargains to the Caribbean, especially those holiday seekers of nice beaches.

Australians are reportedly still travelling overseas in record numbers, and more get into trouble in Thailand (assaults, jail, death) than anywhere else according to the stats. As long as Bali and Phuket remain their choice of destination, that's fine with me.

[laislica]

Waiting patiently for the price of imported goods and oil/gas to come down.........................................................

Snickers bars have fallen from '3 for 54' to '3 for 49' in Makro.

Do remember 5 years ago when a fun-size Snickers was 30baht? Oh how times have changed. It used to be a choice between a morsel of chocolate or a generous serving of Thai food like cow moo daeng for the same price. I recently visited a cow moo daeng shop where I used to live and was saddened by what has happened; the serving was tiny, slimy, cheap and costlier, without the egg or sausage that the place used to serve.

I think that the Mars Bar is a better guide since it has been around for a long time.

It's size steadily got smaller. Then new, larger ones and fun size appeared.

But I remember a good 30 odd years ago, someone did a comparison of value for Mars Bars.

Better than a gold standard LOL

http://specials.ft.com/nicocolchester/FT3WNIFSEIC.html

Snip>Mars Bar - is a currency of our time...certainly more reliable than gold, which is prone to speculation.

By Nico Colchester

This article first appeared in the Financial Times on November 24, 1981

Published: January 26 2001 12:08GMT | Last Updated: February 2 2001 15:48GMT

The cumulative changes in the real value of the pound since the Second World War has been so great that most people are now completely disorientated when attempting to compare prices over any period of time. Have we become richer? Is the cost of that once-in-a-decade purchase reasonable? Far from telling us where we stand, our pay cheque has become an opiate to protect us from unpalatable reality.

In my own effort to regain my financial bearings I have become increasingly addicted to the Mars Bar. The Mars Bar is a currency for our time: it is a long-established basket of staple commodities (cocoa, vegetable fats, milk solids, sugar) packaged with great consistency in the form of an ingot. As such it is a reliable unit of account certainly more reliable than gold, which is prone to speculation and it preserves a remarkably constant real value. I have measured my wealth in Mars Bars since an early age, though the motive for doing so has changed.

The table shows some selected price changes since 1940. It may seem absurd that the pay of the young graduate joining ICI has gone from £275 in 1940 to £5,700 today. Yet in real, which is to say Mars Bar, terms his pay has advanced modestly, rising from MB 33,000 in 1940 to MB 38,000 today. This means the modern young man is only marginally better placed to buy his first small car. The Morris 8 would have cost him MB 19,200 in 1940 while the Mini costs 19,333 today.

It would be surprising, indeed suspicious, if everything displayed Mars Bar price stability. The Mars Bar standard helps us see where the young executive is worse and better off. His train ticket to Oxford has dropped in price from MB 50 to MB 35 over the forty years. But a helping of roast beef and Yorkshire pudding at Simpson in the Strand has risen from MB 24 to MB 39 today.

The chairman's Rolls has become still more unattainable. In 1940 it cost MB 204,000 (£1,100 for the chassis, £600 for the body from Park Ward). By 1960 it cost £5,800, and today's Silver Spirit sells for £52,000 or a discouraging MB 347,000.

If space allowed I would take the reader into the intricacies of Mars Bar money: international convertibility, transatlantic arbitrage, the euro-Mars Bar, the way money consumption automatically limits money supply, and variations of liquidity with temperature.

Suffice it to say that the real price stability of the Mars Bar is a triumphant vindication of Hayek's theory of competitive currencies. Competition has forced the American-based issuing agency not to debase the coinage. Indeed, far from being clipped, the Mars Bar has recently been increased in weight from 57 to 59 grams.

There must be a moral behind this conundrum: the pound has plunged in real value despite all the efforts of government and Bank to preserve its apparent worth, yet the Mars Bar has held its worth despite the untiring efforts of the issuer to make it seem as cheap as possible. Monetary experts should chew this one over.

THE REAL FALL OF THE POUND

Mars Bar Morris 8 / Mini Roast Beef at Simpsons Graduate joining ICI (per year)

1940 0.83p £160 20p £275

1960 2.5p £530 43p £775

1981 15p £2,900 £5.95 £5,700

>Snip

I'm looking forward to seeing some math from one or our more knowledgeable TV posters

[Denizen]

Below is some good advice for those farangs in financial pain. Please consider:

http://www.wealthwire.com/news/finance/4647?r=1

The good news is the list of prudent behavior to adopt is long, and it's growing as we (here at PeakProsperity.com and related sites) work together to identify those with the most promise. This is by no means an exhaustive account, and I look forward to active discussion and additions in the Comments section below:

• Live below your means – Rather than pride yourself on what you purchase, pride yourself on what you don't. That doesn't mean you must live miserly or live in poverty. Learn the peace of mind that comes from knowing you can afford the things you do buy, and the confidence that comes from growing your savings. (Frugality is the #1 quality that all self-made millionaires share)

• Buy quality and maintain it – When you do purchase something, buy for utility and longevity. "Cry once" is a good motto: in other words, pay a premium if necessary to get what will meet your needs best over the longest time horizon (versus "crying often" and spending more $$ over the long run because you bought an inferior product that needed chronic repairs or replacement). Take good care of what you do buy to ensure it will be there as you need it when you need it.

• Take control of your income – Avoid being a wage slave for your entire life. There are innumerable reasons why your situation with your employer can change faster and more drastically than you think. Cultivate an income you "own", either full-time or on the side, so that you aren't left 100% vulnerable to a sudden change in employment. (I realize this is easier said then done, but it is doable by just about everybody. We have a guide we'll publish on this subject within the next few weeks.)

• Cultivate resiliency – Invest in your skills, your homestead, your health, and your community. These will all serve you well as economic growth slows further due to reasons outlined in the Crash Course – and for the skeptics, these are solid investments no matter which way the economy turns. For those new to resiliency, our What Should I Do? Guideis a useful resource to start with.

• Simplify – Learn that less is more. Fewer things to deal with frees you up to focus more on those that matter most. In addition to being a good philosophy to live by, it also reduces the number of things to pay for and the number of things to be taxed on. Both of which leave more money in your pocket.

• Apprentice/mentor – Learn how to do important tasks yourself instead of becoming dependent on paying someone. If you can trade labor for learning, you may be able to avoid some or all of the excessive time and $ costs of academia. If you have expertise, pass it on to others around you. In this way, we create resiliency at the community level, improving the odds that an effective local support network is in place if ever needed.

• Shop & invest locally – Keep capital inside your community to strengthen it and enable re-investment. So much is currently sent to multinational corporations and Wall Street banks – never to return – that even a small percentage redirection will make a big impact at the local level.

• Prefer hard assets to paper ones – In a world of runaway central bank money printing, paper currencies (like the U.S. dollar) are not a smart option for storing wealth. Nor are dangerously inflated paper securities like stocks and bonds. If possible, purchase physical assets you can tangibly hold and store, like precious metals, and for the rest of your investments, find a financial advisor who has a strategy that takes hard assets and depleting resources into account. (We know a few, if you're looking.)

• Consider multi-generational living – The economics of the future may force this on us, and that may not be a bad thing. But it's better to adopt this lifestyle by your own choice, on your own terms, if possible. We have moved so far away from this model of living, at great cost – both money-wise and socially. Knowledge transfer, chore sharing, child/elder care, emotional support, cost reduction, pooled purchasing power – there are many advantages to co-habitating with close family or friends.

• Get and stay fit – The benefits of good health on quality of life, longevity, and net worth are just too numerous to ignore. The modern "sick care" industry over-focuses on treating what breaks. Instead, focus on achieving and maintaining wellness. Chris did it; you can, too.

• Use your productive output as an alternative currency – Much can be acquired without $, in trade for your support or skills. Both goods and services. Learn to ask: What can I trade? before asking How much does it cost? You'll save money while at the same time increasing your perceived value to those around you.

• Pursue happiness – Learn that pleasure comes from relationships, from having purpose, from creation, and having new experiences. All of these can be enjoyed in a multitude of ways, and few require spending lots of money. If you manage to simplify your life (see above) and find pleasure in doing so, you'll be much more likely to enjoy the future, whatever it brings.

• Require awareness and accountability for the future – Hold your elected officials to the same standards you hold yourself. Vote accordingly. Participate in the democratic process. It may not work as well or as fast as we want, but boycotting will only guarantee us disappointment. In a nutshell, hope for the best but don't plan on miracles.

• Trust yourself – Always rely on your own good sense and intuition about what makes sense for you and your family in your unique situation. Do consult with those who have insight and experience to share that will help you make the most informed choices you possibly can, but remember that your present and future are your own responsibility. Do not ever fully relinquish this power to anyone else – not the government, not a family member, not a professional adviser, not even "the experts." Always, always trust yourself first and foremost.

There are other prudent behaviors to add to this list, but this is a pretty good start.

[laislica]

Below is some good advice for those farangs in financial pain. Please consider:

http://www.wealthwire.com/news/finance/4647?r=1

The good news is the list of prudent behavior to adopt is long, and it's growing as we (here at PeakProsperity.com and related sites) work together to identify those with the most promise. This is by no means an exhaustive account, and I look forward to active discussion and additions in the Comments section below:

• Live below your means – Rather than pride yourself on what you purchase, pride yourself on what you don't. That doesn't mean you must live miserly or live in poverty. Learn the peace of mind that comes from knowing you can afford the things you do buy, and the confidence that comes from growing your savings. (Frugality is the #1 quality that all self-made millionaires share)

• Buy quality and maintain it – When you do purchase something, buy for utility and longevity. "Cry once" is a good motto: in other words, pay a premium if necessary to get what will meet your needs best over the longest time horizon (versus "crying often" and spending more $$ over the long run because you bought an inferior product that needed chronic repairs or replacement). Take good care of what you do buy to ensure it will be there as you need it when you need it.

• Take control of your income – Avoid being a wage slave for your entire life. There are innumerable reasons why your situation with your employer can change faster and more drastically than you think. Cultivate an income you "own", either full-time or on the side, so that you aren't left 100% vulnerable to a sudden change in employment. (I realize this is easier said then done, but it is doable by just about everybody. We have a guide we'll publish on this subject within the next few weeks.)

• Cultivate resiliency – Invest in your skills, your homestead, your health, and your community. These will all serve you well as economic growth slows further due to reasons outlined in the Crash Course – and for the skeptics, these are solid investments no matter which way the economy turns. For those new to resiliency, our What Should I Do? Guideis a useful resource to start with.

• Simplify – Learn that less is more. Fewer things to deal with frees you up to focus more on those that matter most. In addition to being a good philosophy to live by, it also reduces the number of things to pay for and the number of things to be taxed on. Both of which leave more money in your pocket.

• Apprentice/mentor – Learn how to do important tasks yourself instead of becoming dependent on paying someone. If you can trade labor for learning, you may be able to avoid some or all of the excessive time and $ costs of academia. If you have expertise, pass it on to others around you. In this way, we create resiliency at the community level, improving the odds that an effective local support network is in place if ever needed.

• Shop & invest locally – Keep capital inside your community to strengthen it and enable re-investment. So much is currently sent to multinational corporations and Wall Street banks – never to return – that even a small percentage redirection will make a big impact at the local level.

• Prefer hard assets to paper ones – In a world of runaway central bank money printing, paper currencies (like the U.S. dollar) are not a smart option for storing wealth. Nor are dangerously inflated paper securities like stocks and bonds. If possible, purchase physical assets you can tangibly hold and store, like precious metals, and for the rest of your investments, find a financial advisor who has a strategy that takes hard assets and depleting resources into account. (We know a few, if you're looking.)

• Consider multi-generational living – The economics of the future may force this on us, and that may not be a bad thing. But it's better to adopt this lifestyle by your own choice, on your own terms, if possible. We have moved so far away from this model of living, at great cost – both money-wise and socially. Knowledge transfer, chore sharing, child/elder care, emotional support, cost reduction, pooled purchasing power – there are many advantages to co-habitating with close family or friends.

• Get and stay fit – The benefits of good health on quality of life, longevity, and net worth are just too numerous to ignore. The modern "sick care" industry over-focuses on treating what breaks. Instead, focus on achieving and maintaining wellness. Chris did it; you can, too.

• Use your productive output as an alternative currency – Much can be acquired without $, in trade for your support or skills. Both goods and services. Learn to ask: What can I trade? before asking How much does it cost? You'll save money while at the same time increasing your perceived value to those around you.

• Pursue happiness – Learn that pleasure comes from relationships, from having purpose, from creation, and having new experiences. All of these can be enjoyed in a multitude of ways, and few require spending lots of money. If you manage to simplify your life (see above) and find pleasure in doing so, you'll be much more likely to enjoy the future, whatever it brings.

• Require awareness and accountability for the future – Hold your elected officials to the same standards you hold yourself. Vote accordingly. Participate in the democratic process. It may not work as well or as fast as we want, but boycotting will only guarantee us disappointment. In a nutshell, hope for the best but don't plan on miracles.

• Trust yourself – Always rely on your own good sense and intuition about what makes sense for you and your family in your unique situation. Do consult with those who have insight and experience to share that will help you make the most informed choices you possibly can, but remember that your present and future are your own responsibility. Do not ever fully relinquish this power to anyone else – not the government, not a family member, not a professional adviser, not even "the experts." Always, always trust yourself first and foremost.

There are other prudent behaviors to add to this list, but this is a pretty good start.

NOW you tell me!

Indeed, we've never had it so good!

(Now where have I heard that before?)

[Denizen]

Below is some good advice for those farangs in financial pain. Please consider:

http://www.wealthwire.com/news/finance/4647?r=1

The good news is the list of prudent behavior to adopt is long, and it's growing as we (here at PeakProsperity.com and related sites) work together to identify those with the most promise. This is by no means an exhaustive account, and I look forward to active discussion and additions in the Comments section below:

• Live below your means – Rather than pride yourself on what you purchase, pride yourself on what you don't. That doesn't mean you must live miserly or live in poverty. Learn the peace of mind that comes from knowing you can afford the things you do buy, and the confidence that comes from growing your savings. (Frugality is the #1 quality that all self-made millionaires share)

• Buy quality and maintain it – When you do purchase something, buy for utility and longevity. "Cry once" is a good motto: in other words, pay a premium if necessary to get what will meet your needs best over the longest time horizon (versus "crying often" and spending more $$ over the long run because you bought an inferior product that needed chronic repairs or replacement). Take good care of what you do buy to ensure it will be there as you need it when you need it.

• Take control of your income – Avoid being a wage slave for your entire life. There are innumerable reasons why your situation with your employer can change faster and more drastically than you think. Cultivate an income you "own", either full-time or on the side, so that you aren't left 100% vulnerable to a sudden change in employment. (I realize this is easier said then done, but it is doable by just about everybody. We have a guide we'll publish on this subject within the next few weeks.)

• Cultivate resiliency – Invest in your skills, your homestead, your health, and your community. These will all serve you well as economic growth slows further due to reasons outlined in the Crash Course – and for the skeptics, these are solid investments no matter which way the economy turns. For those new to resiliency, our What Should I Do? Guideis a useful resource to start with.

• Simplify – Learn that less is more. Fewer things to deal with frees you up to focus more on those that matter most. In addition to being a good philosophy to live by, it also reduces the number of things to pay for and the number of things to be taxed on. Both of which leave more money in your pocket.

• Apprentice/mentor – Learn how to do important tasks yourself instead of becoming dependent on paying someone. If you can trade labor for learning, you may be able to avoid some or all of the excessive time and $ costs of academia. If you have expertise, pass it on to others around you. In this way, we create resiliency at the community level, improving the odds that an effective local support network is in place if ever needed.

• Shop & invest locally – Keep capital inside your community to strengthen it and enable re-investment. So much is currently sent to multinational corporations and Wall Street banks – never to return – that even a small percentage redirection will make a big impact at the local level.

• Prefer hard assets to paper ones – In a world of runaway central bank money printing, paper currencies (like the U.S. dollar) are not a smart option for storing wealth. Nor are dangerously inflated paper securities like stocks and bonds. If possible, purchase physical assets you can tangibly hold and store, like precious metals, and for the rest of your investments, find a financial advisor who has a strategy that takes hard assets and depleting resources into account. (We know a few, if you're looking.)

• Consider multi-generational living – The economics of the future may force this on us, and that may not be a bad thing. But it's better to adopt this lifestyle by your own choice, on your own terms, if possible. We have moved so far away from this model of living, at great cost – both money-wise and socially. Knowledge transfer, chore sharing, child/elder care, emotional support, cost reduction, pooled purchasing power – there are many advantages to co-habitating with close family or friends.

• Get and stay fit – The benefits of good health on quality of life, longevity, and net worth are just too numerous to ignore. The modern "sick care" industry over-focuses on treating what breaks. Instead, focus on achieving and maintaining wellness. Chris did it; you can, too.

• Use your productive output as an alternative currency – Much can be acquired without $, in trade for your support or skills. Both goods and services. Learn to ask: What can I trade? before asking How much does it cost? You'll save money while at the same time increasing your perceived value to those around you.

• Pursue happiness – Learn that pleasure comes from relationships, from having purpose, from creation, and having new experiences. All of these can be enjoyed in a multitude of ways, and few require spending lots of money. If you manage to simplify your life (see above) and find pleasure in doing so, you'll be much more likely to enjoy the future, whatever it brings.

• Require awareness and accountability for the future – Hold your elected officials to the same standards you hold yourself. Vote accordingly. Participate in the democratic process. It may not work as well or as fast as we want, but boycotting will only guarantee us disappointment. In a nutshell, hope for the best but don't plan on miracles.

• Trust yourself – Always rely on your own good sense and intuition about what makes sense for you and your family in your unique situation. Do consult with those who have insight and experience to share that will help you make the most informed choices you possibly can, but remember that your present and future are your own responsibility. Do not ever fully relinquish this power to anyone else – not the government, not a family member, not a professional adviser, not even "the experts." Always, always trust yourself first and foremost.

There are other prudent behaviors to add to this list, but this is a pretty good start.

NOW you tell me!

Indeed, we've never had it so good!

(Now where have I heard that before?)

Please don't thank me. Fawning obeisance and adulation embarrasses me.

[thenervoussurgeon]

Denizen

for some reaso they very rarely let me quote your posts ,but here is my answer to your last one

you said

"in my family good spelling was a necessity"

but in my opinion in your family ,being a fool wasn't c'est la vie.

[laislica]

Below is some good advice for those farangs in financial pain. Please consider:

http://www.wealthwire.com/news/finance/4647?r=1

The good news is the list of prudent behavior to adopt is long, and it's growing as we (here at PeakProsperity.com and related sites) work together to identify those with the most promise. This is by no means an exhaustive account, and I look forward to active discussion and additions in the Comments section below:

• Live below your means – Rather than pride yourself on what you purchase, pride yourself on what you don't. That doesn't mean you must live miserly or live in poverty. Learn the peace of mind that comes from knowing you can afford the things you do buy, and the confidence that comes from growing your savings. (Frugality is the #1 quality that all self-made millionaires share)

• Buy quality and maintain it – When you do purchase something, buy for utility and longevity. "Cry once" is a good motto: in other words, pay a premium if necessary to get what will meet your needs best over the longest time horizon (versus "crying often" and spending more $$ over the long run because you bought an inferior product that needed chronic repairs or replacement). Take good care of what you do buy to ensure it will be there as you need it when you need it.

• Take control of your income – Avoid being a wage slave for your entire life. There are innumerable reasons why your situation with your employer can change faster and more drastically than you think. Cultivate an income you "own", either full-time or on the side, so that you aren't left 100% vulnerable to a sudden change in employment. (I realize this is easier said then done, but it is doable by just about everybody. We have a guide we'll publish on this subject within the next few weeks.)

• Cultivate resiliency – Invest in your skills, your homestead, your health, and your community. These will all serve you well as economic growth slows further due to reasons outlined in the Crash Course – and for the skeptics, these are solid investments no matter which way the economy turns. For those new to resiliency, our What Should I Do? Guideis a useful resource to start with.

• Simplify – Learn that less is more. Fewer things to deal with frees you up to focus more on those that matter most. In addition to being a good philosophy to live by, it also reduces the number of things to pay for and the number of things to be taxed on. Both of which leave more money in your pocket.

• Apprentice/mentor – Learn how to do important tasks yourself instead of becoming dependent on paying someone. If you can trade labor for learning, you may be able to avoid some or all of the excessive time and $ costs of academia. If you have expertise, pass it on to others around you. In this way, we create resiliency at the community level, improving the odds that an effective local support network is in place if ever needed.

• Shop & invest locally – Keep capital inside your community to strengthen it and enable re-investment. So much is currently sent to multinational corporations and Wall Street banks – never to return – that even a small percentage redirection will make a big impact at the local level.

• Prefer hard assets to paper ones – In a world of runaway central bank money printing, paper currencies (like the U.S. dollar) are not a smart option for storing wealth. Nor are dangerously inflated paper securities like stocks and bonds. If possible, purchase physical assets you can tangibly hold and store, like precious metals, and for the rest of your investments, find a financial advisor who has a strategy that takes hard assets and depleting resources into account. (We know a few, if you're looking.)

• Consider multi-generational living – The economics of the future may force this on us, and that may not be a bad thing. But it's better to adopt this lifestyle by your own choice, on your own terms, if possible. We have moved so far away from this model of living, at great cost – both money-wise and socially. Knowledge transfer, chore sharing, child/elder care, emotional support, cost reduction, pooled purchasing power – there are many advantages to co-habitating with close family or friends.

• Get and stay fit – The benefits of good health on quality of life, longevity, and net worth are just too numerous to ignore. The modern "sick care" industry over-focuses on treating what breaks. Instead, focus on achieving and maintaining wellness. Chris did it; you can, too.

• Use your productive output as an alternative currency – Much can be acquired without $, in trade for your support or skills. Both goods and services. Learn to ask: What can I trade? before asking How much does it cost? You'll save money while at the same time increasing your perceived value to those around you.

• Pursue happiness – Learn that pleasure comes from relationships, from having purpose, from creation, and having new experiences. All of these can be enjoyed in a multitude of ways, and few require spending lots of money. If you manage to simplify your life (see above) and find pleasure in doing so, you'll be much more likely to enjoy the future, whatever it brings.

• Require awareness and accountability for the future – Hold your elected officials to the same standards you hold yourself. Vote accordingly. Participate in the democratic process. It may not work as well or as fast as we want, but boycotting will only guarantee us disappointment. In a nutshell, hope for the best but don't plan on miracles.

• Trust yourself – Always rely on your own good sense and intuition about what makes sense for you and your family in your unique situation. Do consult with those who have insight and experience to share that will help you make the most informed choices you possibly can, but remember that your present and future are your own responsibility. Do not ever fully relinquish this power to anyone else – not the government, not a family member, not a professional adviser, not even "the experts." Always, always trust yourself first and foremost.

There are other prudent behaviors to add to this list, but this is a pretty good start.

NOW you tell me!

Indeed, we've never had it so good!

(Now where have I heard that before?)

Please don't thank me. Fawning obeisance and adulation embarrasses me.

It's the lack of the SARCASM FONT that lets you miss the point totally.

[asiamaster]

The happy few that control this country

1) do not care at all if less western tourists would come to Thailand -that money mostly flows out of the country again as stated by other posters.

2) :do not care about farangs supporting bar girls and their families.

3) are happy that many foreigners have invested in their companies through the stock market

4) now need to convert the millions (or billions) they made to foreign currency and a strong baht will give them a lot more

5) will - after they have made their profits on foreign exchange allow the baht to drop again so the next cycle may begin

[laislica]

The happy few that control this country

1) do not care at all if less western tourists would come to Thailand -that money mostly flows out of the country again as stated by other posters.

2) :do not care about farangs supporting bar girls and their families.

3) are happy that many foreigners have invested in their companies through the stock market

4) now need to convert the millions (or billions) they made to foreign currency and a strong baht will give them a lot more

5) will - after they have made their profits on foreign exchange allow the baht to drop again so the next cycle may begin

It's just a game for the really Big Boys.

[MrWorldwide]

Denizen, is there any chance - however remote - that you might post something relevant to the topic instead of simply engaging in mind games with other BMs ? You have singlehandedly made this thread a whole lot larger than it would ever have been, and we have both discussed this in other threads at considerable length, The 'strength' of the baht is a double-edged sword - I doubt that there is a single BM left who doesnt get that by now .....

[Naam]

The happy few that control this country

1) do not care at all if less western tourists would come to Thailand -that money mostly flows out of the country again as stated by other posters.

2) :do not care about farangs supporting bar girls and their families.

3) are happy that many foreigners have invested in their companies through the stock market

4) now need to convert the millions (or billions) they made to foreign currency and a strong baht will give them a lot more

5) will - after they have made their profits on foreign exchange allow the baht to drop again so the next cycle may begin

copied and pasted from "Memoirs of a Milkmaid and her Views on Macroeconomics".

[HardenedSoul]

It is not only a loss of revenue to Thailand by the tourists who have a set amount of money put by for their holiday only to find that they can now buy about 20% less (if GBP) now than say 3 months ago but one will also find due to general price rises there is even less goods to purchase with your amount of Dollar, Euro, Yen or GBP.

How many guys overseas are sending money to their wives/girlfriends.(Thankfully not me now as I live here) Quite a few I reckon, and now they will finding it hard to make the payments they agreed on. This I am sure will be causing them a lot of headaches and a lot earache from the ladies of the men who cannot find a further 20% of funds.

Overall this means that generally shop keepers will find their turnover/profit margins will be way down as less money spent by those living here whose pension/income are severely effected, plus those that come on holiday and amount of cash sent to their other half.

I can definetely see it effecting tourism in the future.

Nonsense.

The tourist/retiree inflow will just come from elsewhere in the future.

If the country's central bank were to effect measures to weaken the baht, it would have far more to do with wanting to protect the export sector than any desire to keep Thailand cheap for tourists and expats from countries with debased currencies.

For my sins, I live in Asoke, a major tourism hub with shopping, adult entertainment, bars and clubs aplenty. I can say without reservation that there's been a huge increase in visitors from India, Korea, Africa, China and Russia. Furthermore, contrary to popular consensus, they are spending money.

[MrWorldwide]

I'm with Naam - what a total load of <deleted>. 'Need to convert their billions into another currency' ? Please ....

[rbrooks]

What goes up must come down and when dealing with currency the fall could be devasting.

[davejones]

Waiting patiently for the price of imported goods and oil/gas to come down.........................................................

And i am waiting for pigs to fly. in fact i notice some imports from Britain have gone up in price ,how this?

It's called inflation. It's been around for quite some time. May also be related to supply and demand. See Economics 101.

[MrWorldwide]

What goes up must come down and when dealing with currency the fall could be devasting.

As long as its not devastating. devasting - well, I can live with that.

[Naam]

I'm with Naam - what a total load of <deleted>. 'Need to convert their billions into another currency' ? Please ....

a precedence does exist! in june 1997, just before the "asian flu" hit, the Baht was trading for a couple of weeks below its peg of 25 to the Dollar and (credible) rumour has it that a number of big shots used that window to transfer big sums abroad.

[reflectionx]

IMHO, things are very simple. Outsourcing (mostly "dirty" manufacturing) jobs to Asia and Latin America brought huge profits to western corporations, but slowly the western mentality took over these markets. Asian workers who used to be satisfied with low paid jobs have now switched to the western consumer mentality - borrow money for a new car, new house, etc... People are not stupid, if the farang can have it all , why can't they? This simply can't go forever ... So the western bubble is now being inflated in SEA.

India and China were the first ones to jump on the outsourcing train, and now they are the first one to bear the consequences - China is trying to keep its currency artificially low hoping that investors won't flee the country, but still lots of corps are looking elsewhere. India's economy is also in bad shape. I've seen a trend now where jobs are being brought back from India and China. As corp profits from outsourcing fall due to higher labor cost, exchange rates, etc, they will look to outsource elsewhere.

The only problem - there is not much "elsewhere" left. Africa? I don't think so, the lack of adequate water resources will be an obstacle to any manufacturing process. Thus, corps start bringing jobs home. It's scary - the entire world will be made of consumers, but there will be nothing to consume!

The wheel is turning. SEA will eventually start paying the price of their "modernizing" economies...

[sunsetlover]

IMHO, things are very simple. Outsourcing (mostly "dirty" manufacturing) jobs to Asia and Latin America brought huge profits to western corporations, but slowly the western mentality took over these markets. Asian workers who used to be satisfied with low paid jobs have now switched to the western consumer mentality - borrow money for a new car, new house, etc... People are not stupid, if the farang can have it all , why can't they? This simply can't go forever ... So the western bubble is now being inflated in SEA.

India and China were the first ones to jump on the outsourcing train, and now they are the first one to bear the consequences - China is trying to keep its currency artificially low hoping that investors won't flee the country, but still lots of corps are looking elsewhere. India's economy is also in bad shape. I've seen a trend now where jobs are being brought back from India and China. As corp profits from outsourcing fall due to higher labor cost, exchange rates, etc, they will look to outsource elsewhere.

The only problem - there is not much "elsewhere" left. Africa? I don't think so, the lack of adequate water resources will be an obstacle to any manufacturing process. Thus, corps start bringing jobs home. It's scary - the entire world will be made of consumers, but there will be nothing to consume!

The wheel is turning. SEA will eventually start paying the price of their "modernizing" economies...

China is already losing foreign investment to places like Vietnam and Indonesia. And pissing off Japan doesn't help either, JP is already moving plants to your, and mine soon, preferred destination.

Personally I see Vietnam as the biggest threat to Thailand, the dong is still at around 21000. It can compete easily (in the near future, not now) on tourism and exports.