Lite Beer Posted May 18, 2013 Share Posted May 18, 2013 Korn rejects Thaksin's claim on BOTThe Nation on Sunday BANGKOK: -- Former finance minister Korn Chatikavanij yesterday disputed ex-premier Thaksin Shinawatra's claim that an independent central bank was Thailand's problem in the face of a strengthening baht.Korn said he suspected that Thaksin was actually dissatisfied that the law prevents the government from dismissing the Bank of Thailand (BOT) governor without sufficient reasons."What upsets Thaksin most is that the Bank of Thailand governor cannot be removed as easily as other bureaucrats," he said in a Facebook message.BOT governor Prasarn Trairatvorakul has resisted pressure from the government, and particularly from Finance Minister Kittiratt Na-Ranong, to have the policy interest rate reduced in order to weaken the strong baht - a measure expected to curb the currency's appreciation, which is hurting the country's exports.Thaksin said in a Facebook message on Friday that Japan was able to achieve gross domestic product (GDP) growth of 3.5 per cent in the first quarter because the Bank of Japan works directly with the Japanese government. He said Thailand's problem was that the Bank of Thailand was independent, and he accused the central bank of refusing to listen to the government.Korn said yesterday that although the Bank of Japan has less independence than the European central banks, it is in fact "not working directly under the Japanese government".He also said that Thailand and Japan have different economic situations - for example the Japanese have massive savings - so different measures should be taken for the two countries. He did not think a similar interest rate cut to the one adopted in Japan would work for the Thai economy."Thaksin's problem is that he does not have a sufficient understanding of economics. It is untrue that the Thai gross domestic product depends mostly on exports. In fact, about 52 per cent of the GDP comes from domestic consumption," said Korn, who is a deputy leader of the opposition Democrat Party.Meanwhile, Thaksin's legal adviser and spokesman Noppadon Pattama said yesterday that the ex-leader made his comments honestly, with no intention of attempting to interfere with the central bank. -- The Nation 2013-05-19 1 Link to comment Share on other sites More sharing options...
Popular Post bigbamboo Posted May 18, 2013 Popular Post Share Posted May 18, 2013 Korn is pretty much on the money here as usual but that's no surprise given the respect he retains amongst the international financial community. 16 Link to comment Share on other sites More sharing options...
Popular Post jaidam Posted May 18, 2013 Popular Post Share Posted May 18, 2013 Korn thinks he is so smart. Try getting an overseas masters degree in a language that you can't speak at all. Now that's clever. 7 Link to comment Share on other sites More sharing options...
A Member Posted May 18, 2013 Share Posted May 18, 2013 Nothing is ever truly independent in Thailand but PTP are taking no chances and anything remotely like having it's own voice is unacceptable. 1 Link to comment Share on other sites More sharing options...
jonclark Posted May 18, 2013 Share Posted May 18, 2013 Korn thinks he is so smart. Try getting an overseas masters degree in a language that you can't speak at all. Now that's clever. Awww bless you think he's clever that's nice. Do you think he is handsome and funny as well?? Link to comment Share on other sites More sharing options...
chainarong Posted May 19, 2013 Share Posted May 19, 2013 A good basis for rejection Mr Korn, you do not compare other countries ,especially when you compare against Japan, Japan is a leader , their economy is quite different to Thailand's as Thailand's is to Mongolia or Iran's , what's more , what may work in one country might not work in another , it's like comparing apples and oranges, perhaps Mr Thaskin can not tell the difference. Link to comment Share on other sites More sharing options...
Popular Post Roadman Posted May 19, 2013 Popular Post Share Posted May 19, 2013 (edited) When I consider Thailand economically I see many comparisons to New Zealand. We have some huge variants in what we trade and likewise the volumes, but we both have quality produce for sale. When world economies star kicking in, and once of the best world wide measures is the American Housing Start statistics start climbing back, then the worlds biggest and richest consumer is starting to move and spend again and everyone benefits. Thailand and New Zealand, follow very much the same export gain and lose trends, it is only the political applications of that reward that is applied very differently. New Zealand also sits with a high dollar taking the cream of for exporters, and is more export dependent than Thailand, but what is being applied is sensible Reserve Bank management to counter heat in domestic spending, and allowing that decision to be made free of political agenda. Another Thaksin dictatorial ship grab to have total control of everything in Thailand under Shinawatra Family control. Thailand needs to rid itself of Thaksin before its becomes 'same same' Cambodia. I honestly do not understand how people from western democracies can on this or any forum support this crook's take over of Thailand. Every thing in Thailand is slowly being brought under his direct dailies control. And yet there will be bitching against the Army when it again has to deal to his dictatorial ownership. Edited to add: and we'll said Khun Korn on calling the fugitive criminal to point. And to add For the grammar nazi not spelt check...damn IPad Edited May 19, 2013 by Roadman 5 Link to comment Share on other sites More sharing options...
Thai at Heart Posted May 19, 2013 Share Posted May 19, 2013 In the long run chasing a cheap baht is not a solution. Link to comment Share on other sites More sharing options...
Popular Post passon Posted May 19, 2013 Popular Post Share Posted May 19, 2013 (edited) I look at the rising baht the same way I look at rising gas prices; they are arbitrarily raised based upon some [artificial] set of facts that always have something to do with supply and demand, and the preservation of both; but, it rarely, if ever, realigns itself at the same speed, or with that same sense of artificial urgency upon which it was raised. The U.S. Dollar has recently strengthened against the Euro and the Yen. It is expected that the BOJ [bank of Japan] is about to implement more "dovish" policies and that it may also implement "unlimited" quantitative easing in 2014, which will allow the dollar to continue building strength against the Yen. However, none of that is reflected in the exchange rate between the USD and the THB. I find this part of the article interesting: He [Korn] also said that Thailand and Japan have different economic situations -for example the Japanese have massive savings - so different measures should be taken for the two countries...It is untrue that the Thai gross domestic product depends mostly on exports. In fact, about 52 per cent of the GDP comes from domestic consumption... It is true that Thailand has become less dependent on exports and more dependent on domestic consumption; however the comments by Korn imply to me that consumers are spending the bulk of their discretionary income, or living on massive amounts of credit, or both. I saw firsthand the effects of a country [uSA] that built its economy on a House of Cards, and I knew, as many people knew that the house would fall, and it did. Building the Thai economy on more borrowed money, such as the 68 billion baht infrastructure bill, or building it on the false premise that rebates for cars and houses will guarantee financial longevity and prosperity are all the machinations of a government and society living on credit. The Exchange Traded Fund [ETF] recently declined by 6% and some economist believe the 68 billion dollar infrastructure project could negatively affect the Thai economy. However, let the baht wizards have their fun by putting more of their eggs into the domestic consumption basket while reducing exports with a stronger baht, minimum wage schemes, and rice pledging schemes that will create more domestic dependency in order to grow the economy, because without growth there is no [real] confidence. In my opinion the Thai economy is at a vulnerable point, a pivoting point if you will, because if you believe something simply because you want to believe it, and you ignore its lack of rationalizations, then it's a lot like playing the lottery with long odds, a lot of wishing, but rarely with the desired result. Edited May 19, 2013 by passon 3 Link to comment Share on other sites More sharing options...
Thai at Heart Posted May 19, 2013 Share Posted May 19, 2013 I look at the rising baht the same way I look at rising gas prices; they are arbitrarily raised based upon some [artificial] set of facts that always have something to do with supply and demand, and the preservation of both; but, it rarely, if ever, realigns itself at the same speed, or with that same sense of artificial urgency upon which it was raised. The U.S. Dollar has recently strengthened against the Euro and the Yen. It is expected that the BOJ [bank of Japan] is about to implement more "dovish" policies and that it may also implement "unlimited" quantitative easing in 2014, which will allow the dollar to continue building strength against the Yen. However, none of that is reflected in the exchange rate between the USD and the THB. I find this part of the article interesting: He [Korn] also said that Thailand and Japan have different economic situations -for example the Japanese have massive savings - so different measures should be taken for the two countries...It is untrue that the Thai gross domestic product depends mostly on exports. In fact, about 52 per cent of the GDP comes from domestic consumption... It is true that Thailand has become less dependent on exports and more dependent on domestic consumption; however the comments by Korn imply to me that consumers are spending the bulk of their discretionary income, or living on massive amounts of credit, or both. I saw firsthand the effects of a country [uSA] that built its economy on a House of Cards, and I knew, as many people knew that the house would fall, and it did. Building the Thai economy on more borrowed money, such as the 68 billion baht infrastructure bill, or building it on the false premise that rebates for cars and houses will guarantee financial longevity and prosperity are all the machinations of a government and society living on credit. The Exchange Traded Fund [ETF] recently declined by 6% and some economist believe the 68 billion dollar infrastructure project could negatively affect the Thai economy. However, let the baht wizards have their fun by putting more of their eggs into the domestic consumption basket while reducing exports with a stronger baht, minimum wage schemes, and rice pledging schemes that will create more domestic dependency in order to grow the economy, because without growth there is no [real] confidence. In my opinion the Thai economy is at a vulnerable point, a pivoting point if you wll, because if you believe something simply because you want to believe it, but not because it makes sense, then it's a lot like playing the lottery with long odds, a lot of wishing, but rarely with the desired result. There is little they should do to manipulate the baht against this flood of money from the USA EU and Japan. If they cut interest rates to cheapen the baht this will just make the credit situation worse. Link to comment Share on other sites More sharing options...
Popular Post ratcatcher Posted May 19, 2013 Popular Post Share Posted May 19, 2013 Korn thinks he is so smart. Try getting an overseas masters degree in a language that you can't speak at all. Now that's clever. Excellent piece of irony jaidam. Indeed Khun Korn does think he is smart and has every right to. But as you say, getting a Masters in the United States in a language you can hardly speak is beyond clever, it is quite brilliant. 5 Link to comment Share on other sites More sharing options...
passon Posted May 19, 2013 Share Posted May 19, 2013 (edited) I look at the rising baht the same way I look at rising gas prices; they are arbitrarily raised based upon some [artificial] set of facts that always have something to do with supply and demand, and the preservation of both; but, it rarely, if ever, realigns itself at the same speed, or with that same sense of artificial urgency upon which it was raised. The U.S. Dollar has recently strengthened against the Euro and the Yen. It is expected that the BOJ [bank of Japan] is about to implement more "dovish" policies and that it may also implement "unlimited" quantitative easing in 2014, which will allow the dollar to continue building strength against the Yen. However, none of that is reflected in the exchange rate between the USD and the THB. I find this part of the article interesting: He [Korn] also said that Thailand and Japan have different economic situations -for example the Japanese have massive savings - so different measures should be taken for the two countries...It is untrue that the Thai gross domestic product depends mostly on exports. In fact, about 52 per cent of the GDP comes from domestic consumption... It is true that Thailand has become less dependent on exports and more dependent on domestic consumption; however the comments by Korn imply to me that consumers are spending the bulk of their discretionary income, or living on massive amounts of credit, or both. I saw firsthand the effects of a country [uSA] that built its economy on a House of Cards, and I knew, as many people knew that the house would fall, and it did. Building the Thai economy on more borrowed money, such as the 68 billion baht infrastructure bill, or building it on the false premise that rebates for cars and houses will guarantee financial longevity and prosperity are all the machinations of a government and society living on credit. The Exchange Traded Fund [ETF] recently declined by 6% and some economist believe the 68 billion dollar infrastructure project could negatively affect the Thai economy. However, let the baht wizards have their fun by putting more of their eggs into the domestic consumption basket while reducing exports with a stronger baht, minimum wage schemes, and rice pledging schemes that will create more domestic dependency in order to grow the economy, because without growth there is no [real] confidence. In my opinion the Thai economy is at a vulnerable point, a pivoting point if you wll, because if you believe something simply because you want to believe it, but not because it makes sense, then it's a lot like playing the lottery with long odds, a lot of wishing, but rarely with the desired result. There is little they should do to manipulate the baht against this flood of money from the USA EU and Japan.If they cut interest rates to cheapen the baht this will just make the credit situation worse. I think you missed my point, the baht has already been artificially manipulated and that a continuation of that policy in combination with massive amounts of borrowing [infrastructure] and government schemes [cars, houses wages, and rice], will only, in my opinion, increase the country's dependency on domestic consumption; therefore if domestic consumption is based upon a lack of discretionary income [savings] and an increase in massive amounts of credit [debt]; then, if the debt can not be paid down, you will have less credit and less consumption. Even Korn admits the country does not have massive savings reserves. However, the USA, as an example, is already chasing bad money in Europe, so that "flood of money" will only serve to cheapen the baht as it continues to inflate. What goes up, must come down... Edited May 19, 2013 by passon 1 Link to comment Share on other sites More sharing options...
Thai at Heart Posted May 19, 2013 Share Posted May 19, 2013 I look at the rising baht the same way I look at rising gas prices; they are arbitrarily raised based upon some [artificial] set of facts that always have something to do with supply and demand, and the preservation of both; but, it rarely, if ever, realigns itself at the same speed, or with that same sense of artificial urgency upon which it was raised. The U.S. Dollar has recently strengthened against the Euro and the Yen. It is expected that the BOJ [bank of Japan] is about to implement more "dovish" policies and that it may also implement "unlimited" quantitative easing in 2014, which will allow the dollar to continue building strength against the Yen. However, none of that is reflected in the exchange rate between the USD and the THB. I find this part of the article interesting: He [Korn] also said that Thailand and Japan have different economic situations -for example the Japanese have massive savings - so different measures should be taken for the two countries...It is untrue that the Thai gross domestic product depends mostly on exports. In fact, about 52 per cent of the GDP comes from domestic consumption... It is true that Thailand has become less dependent on exports and more dependent on domestic consumption; however the comments by Korn imply to me that consumers are spending the bulk of their discretionary income, or living on massive amounts of credit, or both. I saw firsthand the effects of a country [uSA] that built its economy on a House of Cards, and I knew, as many people knew that the house would fall, and it did. Building the Thai economy on more borrowed money, such as the 68 billion baht infrastructure bill, or building it on the false premise that rebates for cars and houses will guarantee financial longevity and prosperity are all the machinations of a government and society living on credit. The Exchange Traded Fund [ETF] recently declined by 6% and some economist believe the 68 billion dollar infrastructure project could negatively affect the Thai economy. However, let the baht wizards have their fun by putting more of their eggs into the domestic consumption basket while reducing exports with a stronger baht, minimum wage schemes, and rice pledging schemes that will create more domestic dependency in order to grow the economy, because without growth there is no [real] confidence. In my opinion the Thai economy is at a vulnerable point, a pivoting point if you wll, because if you believe something simply because you want to believe it, but not because it makes sense, then it's a lot like playing the lottery with long odds, a lot of wishing, but rarely with the desired result. There is little they should do to manipulate the baht against this flood of money from the USA EU and Japan.If they cut interest rates to cheapen the baht this will just make the credit situation worse. I think you missed my point, the baht has already been artificially manipulated and that a continuation of that policy in combination with massive amounts of borrowing [infrastructure] and government schemes [cars, houses wages, and rice], will only, in my opinion, increase the country's dependency on domestic consumption; therefore if domestic consumption is based upon a lack of discretionary income [savings] and an increase in massive amounts of credit [debt]; then, if the debt can not be paid down, you will have less credit and less consumption. Even Korn admits the country does not have massive savings reserves. However, the USA, as an example, is already chasing bad money in Europe, so that "flood of money" will only serve to cheapen the baht as it continues to inflate. What goes up, must come down... Ah, but, government debt in Thailand was only last week tabled at 44% of GDP. Many many miles away from the ratios seen in the USA and Eu. Private debt is a different problem that Thailand faces, but read the efforts that are going into capping the loans that are available to private individuals for property purchases. They are trying to get a handle on the property problem by tightening the loan market. So, I understand your issue, but Thailand is not about to turn into Greece, let alone Japan which is tabled as having over 200% of GDP as debt. Japan is doing the right thing for its situation, and it has got Korea, China and Germany very worried. They have had deflation for years and no real GDP growth, and yet are in industrial powerhouse. They have devalued their way to growth, which they haven't had for 10 years. Thailand is still growing, and developing. I do not see 1997 yet, although this gargantuan flood of Japanese money is coming into Asia soon enough, and then you will see the baht really rise. Link to comment Share on other sites More sharing options...
Bagwan Posted May 19, 2013 Share Posted May 19, 2013 Korn thinks he is so smart. Try getting an overseas masters degree in a language that you can't speak at all. Now that's clever. Excellent piece of irony jaidam. Indeed Khun Korn does think he is smart and has every right to. But as you say, getting a Masters in the United States in a language you can hardly speak is beyond clever, it is quite brilliant. Khun Korn is doing exactly the same as Yingluck, is he not? I hope that he isn't studying under the auspices of some hill billy university as some Thai notables did. Link to comment Share on other sites More sharing options...
hellodolly Posted May 19, 2013 Share Posted May 19, 2013 Thaksin says "He said Thailand's problem was that the Bank of Thailand wasindependent, and he accused the central bank of refusing to listen tothe government." He omits that in this case the government that refuses to listen to the people is also refusing to listen to the BOT. Instead they listen to a man who has publicly admitted he feels it is alright to lie to the population. 2 Link to comment Share on other sites More sharing options...
ratcatcher Posted May 19, 2013 Share Posted May 19, 2013 (edited) Korn thinks he is so smart. Try getting an overseas masters degree in a language that you can't speak at all. Now that's clever. Excellent piece of irony jaidam. Indeed Khun Korn does think he is smart and has every right to. But as you say, getting a Masters in the United States in a language you can hardly speak is beyond clever, it is quite brilliant. Khun Korn is doing exactly the same as Yingluck, is he not? I hope that he isn't studying under the auspices of some hill billy university as some Thai notables did. Khun Korn's academic studies are long since over. (Winchester & Oxford) His career history also speaks volumes about his ability regarding economics and financial matters. I'm not quite sure what you mean by "Korn doing exactly the same as Yingluck"? The Shinawatras, both Thaksin and Yingluck, studied at Kentucky Universities and I am sure both alumni would be offended to hear them referred to as "hill billy". Edited May 19, 2013 by ratcatcher 2 Link to comment Share on other sites More sharing options...
Thaddeus Posted May 19, 2013 Share Posted May 19, 2013 From the OP....... Thaksin's problem is that he does not have a sufficient understanding of economics That will smart when he reads it. Can't wait for the retort. 1 Link to comment Share on other sites More sharing options...
yoshiwara Posted May 19, 2013 Share Posted May 19, 2013 Thaksin always but always has a tendency to trip over his own shoelaces. Link to comment Share on other sites More sharing options...
Popular Post passon Posted May 19, 2013 Popular Post Share Posted May 19, 2013 I look at the rising baht the same way I look at rising gas prices; they are arbitrarily raised based upon some [artificial] set of facts that always have something to do with supply and demand, and the preservation of both; but, it rarely, if ever, realigns itself at the same speed, or with that same sense of artificial urgency upon which it was raised. The U.S. Dollar has recently strengthened against the Euro and the Yen. It is expected that the BOJ [bank of Japan] is about to implement more "dovish" policies and that it may also implement "unlimited" quantitative easing in 2014, which will allow the dollar to continue building strength against the Yen. However, none of that is reflected in the exchange rate between the USD and the THB. I find this part of the article interesting: He [Korn] also said that Thailand and Japan have different economic situations -for example the Japanese have massive savings - so different measures should be taken for the two countries...It is untrue that the Thai gross domestic product depends mostly on exports. In fact, about 52 per cent of the GDP comes from domestic consumption... It is true that Thailand has become less dependent on exports and more dependent on domestic consumption; however the comments by Korn imply to me that consumers are spending the bulk of their discretionary income, or living on massive amounts of credit, or both. I saw firsthand the effects of a country [uSA] that built its economy on a House of Cards, and I knew, as many people knew that the house would fall, and it did. Building the Thai economy on more borrowed money, such as the 68 billion baht infrastructure bill, or building it on the false premise that rebates for cars and houses will guarantee financial longevity and prosperity are all the machinations of a government and society living on credit. The Exchange Traded Fund [ETF] recently declined by 6% and some economist believe the 68 billion dollar infrastructure project could negatively affect the Thai economy. However, let the baht wizards have their fun by putting more of their eggs into the domestic consumption basket while reducing exports with a stronger baht, minimum wage schemes, and rice pledging schemes that will create more domestic dependency in order to grow the economy, because without growth there is no [real] confidence. In my opinion the Thai economy is at a vulnerable point, a pivoting point if you wll, because if you believe something simply because you want to believe it, but not because it makes sense, then it's a lot like playing the lottery with long odds, a lot of wishing, but rarely with the desired result. There is little they should do to manipulate the baht against this flood of money from the USA EU and Japan.If they cut interest rates to cheapen the baht this will just make the credit situation worse. I think you missed my point, the baht has already been artificially manipulated and that a continuation of that policy in combination with massive amounts of borrowing [infrastructure] and government schemes [cars, houses wages, and rice], will only, in my opinion, increase the country's dependency on domestic consumption; therefore if domestic consumption is based upon a lack of discretionary income [savings] and an increase in massive amounts of credit [debt]; then, if the debt can not be paid down, you will have less credit and less consumption. Even Korn admits the country does not have massive savings reserves. However, the USA, as an example, is already chasing bad money in Europe, so that "flood of money" will only serve to cheapen the baht as it continues to inflate. What goes up, must come down... Ah, but, government debt in Thailand was only last week tabled at 44% of GDP. Many many miles away from the ratios seen in the USA and Eu. Private debt is a different problem that Thailand faces, but read the efforts that are going into capping the loans that are available to private individuals for property purchases. They are trying to get a handle on the property problem by tightening the loan market. So, I understand your issue, but Thailand is not about to turn into Greece, let alone Japan which is tabled as having over 200% of GDP as debt. Japan is doing the right thing for its situation, and it has got Korea, China and Germany very worried. They have had deflation for years and no real GDP growth, and yet are in industrial powerhouse. They have devalued their way to growth, which they haven't had for 10 years. Thailand is still growing, and developing. I do not see 1997 yet, although this gargantuan flood of Japanese money is coming into Asia soon enough, and then you will see the baht really rise. And the 44% is an increase of 2.7% since 2012. Government debt in the USA was at approximately 63% prior to the 2008 financial crisis and it is currently at about 75% of GDP; however, Thailand has a population of approximately 63 million people and the majority live on no more than 10,000 baht per month, which is hardly a comparison to those in America [with a population of over 300 million] who make much more, even at minimum wage levels. There is also a stronger tax base [higher tax revenues] in America compared to Thailand, so even though America has higher debt levels as a portion of GDP, it is still in a better position [tax revenues] to withstand economic resistance; however that level of debt undoubtedly creates financial instability, no matter how you define it. Thailand's debt ratios are moving up, not down. I never said it was going the way of Greece, but I do believe it is creating a corner for itself that may prove difficult to move away from. The property problem they are having is a property problem they created, but trying to have better regulation over this problem is definitely constructive. However, I hope for the sake of Thailand that it perseveres and becomes a stable economy with less debt, more reserves and a bustling economy where almost anyone who wants a decent paying job can find one. I just don't happen to believe they are [currently] headed in that direction based upon a set of variables that I view as unproductive. I'm just ranting because it concerns me as someone who has made Thailand his home, and who has seen this show before. But, at the end of the day, what I think doesn't matter; what matters is the result of the action, and time will take care of that issue. Thanks for the back and forth. I also appreciate your position, and I think we both want Thailand to succeed. 3 Link to comment Share on other sites More sharing options...
seajae Posted May 19, 2013 Share Posted May 19, 2013 yes, one has to wonder how long before the shinawatra bank opens for bussiness and takes over Thailands financial affairs totally with the govt backing it of course. Link to comment Share on other sites More sharing options...
moe666 Posted May 19, 2013 Share Posted May 19, 2013 The BOT will be the next target of a PTP and red shirt take over. There will be threats of charges to be filed wwith every org. in Thailand because of lack of servile obidience (spelling) to Big T and his fantasy 1 Link to comment Share on other sites More sharing options...
noitom Posted May 19, 2013 Share Posted May 19, 2013 If Korn were as smart as everyone thinks he is, he would not give credence by debating any remarks that Thaksin has. He is merely empowering Thaksin and his importance by debating him in the press. Foolish Korn. Thais should all ignore both he and Thaksin and move on and find real leaders. Link to comment Share on other sites More sharing options...
whybother Posted May 19, 2013 Share Posted May 19, 2013 If Korn were as smart as everyone thinks he is, he would not give credence by debating any remarks that Thaksin has. He is merely empowering Thaksin and his importance by debating him in the press. Foolish Korn. Thais should all ignore both he and Thaksin and move on and find real leaders. The problem is a lot Thais believe every word Thaksin says, so it has to be countered. 1 Link to comment Share on other sites More sharing options...
waza Posted May 19, 2013 Share Posted May 19, 2013 Well said Korn Link to comment Share on other sites More sharing options...
Thai at Heart Posted May 19, 2013 Share Posted May 19, 2013 I am confused now. Do the resident Thai visers think the baht is manipulated over valued or do they want it to plummet because Thaksin says it should? Link to comment Share on other sites More sharing options...
bigbamboo Posted May 19, 2013 Share Posted May 19, 2013 If Korn were as smart as everyone thinks he is, he would not give credence by debating any remarks that Thaksin has. He is merely empowering Thaksin and his importance by debating him in the press. Foolish Korn. Thais should all ignore both he and Thaksin and move on and find real leaders. Whether you like it or not Thaksin is still the most powerful man in Thailand, even though he runs the country from his ivory tower in Dubai. Korn as an opposition big hitter therefore is obliged to engage him. Link to comment Share on other sites More sharing options...
hellodolly Posted May 19, 2013 Share Posted May 19, 2013 If Korn were as smart as everyone thinks he is, he would not give credence by debating any remarks that Thaksin has. He is merely empowering Thaksin and his importance by debating him in the press. Foolish Korn. Thais should all ignore both he and Thaksin and move on and find real leaders. Whether you like it or not Thaksin is still the most powerful man in Thailand, even though he runs the country from his ivory tower in Dubai. Korn as an opposition big hitter therefore is obliged to engage him. Not if he is right. Unfortunately that is not one of Thaksins strong points. He can how ever be a very successful author on books om how to cook the books. Probably do well with how much to pay to buy a certain position say like Prime Minister. Or one on how much to skim of the top Link to comment Share on other sites More sharing options...
473geo Posted May 19, 2013 Share Posted May 19, 2013 When I consider Thailand economically I see many comparisons to New Zealand. We have some huge variants in what we trade and likewise the volumes, but we both have quality produce for sale. When world economies star kicking in, and once of the best world wide measures is the American Housing Start statistics start climbing back, then the worlds biggest and richest consumer is starting to move and spend again and everyone benefits. Thailand and New Zealand, follow very much the same export gain and lose trends, it is only the political applications of that reward that is applied very differently. New Zealand also sits with a high dollar taking the cream of for exporters, and is more export dependent than Thailand, but what is being applied is sensible Reserve Bank management to counter heat in domestic spending, and allowing that decision to be made free of political agenda. Another Thaksin dictatorial ship grab to have total control of everything in Thailand under Shinawatra Family control. Thailand needs to rid itself of Thaksin before its becomes 'same same' Cambodia. I honestly do not understand how people from western democracies can on this or any forum support this crook's take over of Thailand. Every thing in Thailand is slowly being brought under his direct dailies control. And yet there will be bitching against the Army when it again has to deal to his dictatorial ownership. Edited to add: and we'll said Khun Korn on calling the fugitive criminal to point. And to add For the grammar nazi not spelt check...damn IPad Isn't NZ almost a japanese state these days? Link to comment Share on other sites More sharing options...
khunken Posted May 19, 2013 Share Posted May 19, 2013 As Korn rightly points out, Thaksin's main problem is not really the Baht exchange rate but that the BOT is independent & won't do as it's told by Kittirat. It's highly probably that Kittirat has been ordered by Thaksin to get them to reduce the interest rate. The interest rate has been blamed on the PTP's failure to sell Thai rice overseas. This ignores the fact that they couldn't sell the rice last year, before the Baht surged. It is also not beyond suspicion that Thaksin's problem has a personal effect. If he wants to bring his offshore loot into the country, a weaker Baht will add a few more double digit millions to his onshore account. 2 Link to comment Share on other sites More sharing options...
ray23 Posted May 19, 2013 Share Posted May 19, 2013 I am confused now. Do the resident Thai visers think the baht is manipulated over valued or do they want it to plummet because Thaksin says it should? Personally I believe the baht currently hurts exports. One of the reasons Thailand lost it's number one position a rice exporter. From what I have seen they are actually exporting rice below what the Government paid for it. So I guess it depends on what role your in as an Importer great news. Buying for less. not that I see them passing on the reduction of costs to the consumer. If your an exporter the cost of your product is up, which could make you less competetive. What is driving it is where the danger is foreign money invested in the market and bonds. Most on a short term basis, In today's world that can be sold of in seconds Not hours, day, weeks or months. If that were to happen Thailand it would be put it into a major tail spin. In Forex trading that is exactly how it's done. Hedge funds treat stocks in the same manner. So there is a clear danger at the moment. Will it actually happen I have no idea, Looks to me like a real bubble exists. But I have been wrong before, There are stocks currently trading at 40 x P/E not something I would get involved in. Link to comment Share on other sites More sharing options...
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