Debt Of Thailand?

[Cheapcharly]

how much is the national debt of Thailand?

compared to USA, i know Thai people can live pretty much with 300$ / month. how is it possible than people in the USA with 3 jobs still have problems?

US people can live in the USA because they borrow money. without borrowing all this money, people would be in deep dodo.

in USA each citizen is in debt of 60k dollars. time by 300 millions, we are at 18 trillion$, slightly less. but with time we are arriving to 18... wooww ! who can do better?

so my question is, is it possible to live in the USA without borrowing?

is Thailand following the same path as the USA.?

[notmyself]

Not sure it's the same path but looking like they will end up at the same address.

[Dancealot]

It is possible.

It is possible to live somewhere without borrowing and many people do.

Don't borrow your views from the latest documentary you have just seen.

[CaptHaddock]

Come back when you have learned the difference between household debt and national debt.

[farang000999]

The US gov is financing it's debt at a massive 1% a year. Holy mackerel!

[marcusd]

You can live in the USA...PARIS..BERLIN..LONDON..SYDNEY if you too live in a park...under a coconut palm and on rice and fish from the rivers.

But.... In every other country the authorities will round you up... Move yiu al9ng and tge weatger will freeze you to death.

In the west we ASPIRE to higher living standards and borrowto have that NEW TV..CAR...FRIDGE..RENOVATION..IMAC..IPOD..IPHONE.

here they settle for the iphone

Sent from my GT-N7000B using Thaivisa Connect Thailand mobile app

[StreetCowboy]

The US gov is financing it's debt at a massive 1% a year. Holy mackerel!

And they're robbing their creditors by devaluing their currency. The benefits of being a safe haven!

[Naam]

The US gov is financing it's debt at a massive 1% a year. Holy mackerel!

And they're robbing their creditors by devaluing their currency. The benefits of being a safe haven!

against which currency, except the Thai Baht, do you see a devaluation of the Dollar?

[StreetCowboy]

The US gov is financing it's debt at a massive 1% a year. Holy mackerel!

And they're robbing their creditors by devaluing their currency. The benefits of being a safe haven!

against which currency, except the Thai Baht, do you see a devaluation of the Dollar?

Fair point. I'd never really looked at the USD exchange rates too closely before. Chinese yuan, Malaysian Ringgit... but not so much, this last year or two.

[rubberduck]

The immense debt at pawnshops and car/motorbike/iphone/house financing and loansharks included ?

[sirineou]

Not borrowing in the US would wreck the economy,

Consider the following.

Assume the the whole national economy is $100, and you borrow $100 at 10% interest, Now you have to pay it back, of course now you have to pay $110 back, so the economy grew by 10%.

This is a simplistic way of looking at it, there are other variables,

But with out borrowing the whole world economy would collapse.

Edited May 25, 2013 by sirineou

[Felt 35]

https://www.cia.gov/library/publications/the-world-factbook/fields/2079.html#40

[StreetCowboy]

Not borrowing in the US would wreck the economy,

Consider the following.

Assume the the whole national economy is $100, and you borrow $100 at 10% interest, Now you have to pay it back, of course now you have to pay $110 back, so the economy grew by 10%.

This is a simplistic way of looking at it, there are other variables,

But with out borrowing the whole world economy would collapse.

No it wouldn't

[sirineou]

Not borrowing in the US would wreck the economy,

Consider the following.

Assume the the whole national economy is $100, and you borrow $100 at 10% interest, Now you have to pay it back, of course now you have to pay $110 back, so the economy grew by 10%.

This is a simplistic way of looking at it, there are other variables,

But with out borrowing the whole world economy would collapse.

No it wouldn't

ohh ok

[Cheapcharly]

how much is the debt of Thailand...?

[Dancealot]

Not borrowing in the US would wreck the economy,

Consider the following.

Assume the the whole national economy is $100, and you borrow $100 at 10% interest, Now you have to pay it back, of course now you have to pay $110 back, so the economy grew by 10%.

This is a simplistic way of looking at it, there are other variables,

But with out borrowing the whole world economy would collapse.

No it wouldn't

ohh ok

Very relaxed unforced conversation, I like it.

[Naam]

how much is the debt of Thailand...?

there is the saying "stupid questions do not exist, but stupid answers do". but as often exceptions prove the rule

[davidst01]

Foreign debt is always expressed as a percentage of GDP. The IMF (international monetary fund) has all the latest figures and I will see if I can dig them out

[NCC1701A]

Public debt 43.3% of GDP in 2011. External debt 126.4 billion USD in 2011 according to the CIA.

Population 67,488,120.

126.4 billion USD X current exchange rate of 29.93 baht per dollar = 3,783,152,000,000 baht divided by

67,488,120 = 56,056.56 baht per person in Thailand. $1,872.92

Edited May 27, 2013 by NCC1701A

[winstonc]

ncc1701a atlast an answer,who cares about the us of a its not an american forum,,,

[Utley]

Acording to the 2013 Index of Economic Fredom by The Heritage Foundation and the WSJ: http://www.heritage.org/index/country/thailand

"[Thailand] Government spending equals 23.3 percent of gross domestic output. The budget balance remains in deficit, and public debt is over 40 percent of GDP."

Also see the U.S. Central Intelligence Agency's report on Thailand: http://www.cia.gov/library/publications/the-world-factbook/geos/th.html# It says about the same thing.

[swissie]

Public debt 43.3% of GDP in 2011. External debt 126.4 billion USD in 2011 according to the CIA.

Population 67,488,120.

126.4 billion USD X current exchange rate of 29.93 baht per dollar = 3,783,152,000,000 baht divided by

67,488,120 = 56,056.56 baht per person in Thailand. $1,872.92

Any economy with public debt below 50 % of GDP is considered a "Healthy-Economy" these days.

Cheers.

[drdoom6996]

It is possible.

It is possible to live somewhere without borrowing and many people do.

Don't borrow your views from the latest documentary you have just seen.

I am 59 years. I have been living on cash, no dept, since 1981. I moved to Thailand in 1987. I have been and will continue to be Debt free.

[StreetCowboy]

Not borrowing in the US would wreck the economy,

Consider the following.

Assume the the whole national economy is $100, and you borrow $100 at 10% interest, Now you have to pay it back, of course now you have to pay $110 back, so the economy grew by 10%.

This is a simplistic way of looking at it, there are other variables,

But with out borrowing the whole world economy would collapse.

Now, if I made the rules, haha we'd get rid of all of the lenders so that people could keep what they earn for themselves. I well understand fractional banking which is what you describe, but that benefits the bankers, not us. What you really said was that the bankers are able to lend that $100 more than once which is a Ponzi scheme. If I did that I'd go to jail.

If I really want a strong economy and a strong country I eliminate the concept of debt and paying interest. Everyone pays cash. No one is a slave to debt. Therefore everyone has more money to spend without first paying debt and interest.

This would also eliminate most inflation. The fed couldn't print money to pay debt because there wouldn't be any. Fractional banking wouldn't artificially increase the money supply. The nations would be sound due to no debt.

Next, things could cost only what people can afford to pay, instead of what they can "afford" to pay on a 7 or 30 year loan. Think of it. If a house is for sale, it won't bring more money than someone can pay up front in cash.

Give it another thought. Do we really want those banksters sucking up so much of the economy in interest to line their pockets? I don't think so.

"Neither a borrower nor lender be."

There is merit in what you say,

but in a complex economy where there are projects large enough to require funds from more than one person there needs to be a mechanism other than the corporate structure to fund such projects. But with such monetary leveraging mechanisms there need to be adequate regulations to prevent the abuse that brought us in the current situation.

I bought my home on credit. A lot of my friends and acquaintances have done so.

[winstonc]

im 49 have no debt,and was only a postman b4 moving here 3 years ago it can be done if your not greedy

[sirineou]

dept is not the problem. regardless of whether it is here in Thailand or elsewhere in the world, the problem is inadequate regulation and enforcement.

As others have mentioned not many of us would own our homes if it was not for credit,, or enjoy the benefits of public works projects funded by the issuing of bonds.

[Joe Mamma]

If you play by the rules and pay every tax ,levy, tariff and high interest rate. You will never get anywhere, fast.

It takes money to earn money in the states as too many folks don't play by the rules and you pay their share and then some!

[swissie]

It is possible.

It is possible to live somewhere without borrowing and many people do.

Don't borrow your views from the latest documentary you have just seen.

I am 59 years. I have been living on cash, no dept, since 1981. I moved to Thailand in 1987. I have been and will continue to be Debt free.

Excellent, only way to go. Is your Thai-Family also Dept-Free? I hope so.

Cheers.

[kannot]

Not borrowing in the US would wreck the economy,

Consider the following.

Assume the the whole national economy is $100, and you borrow $100 at 10% interest, Now you have to pay it back, of course now you have to pay $110 back, so the economy grew by 10%.

This is a simplistic way of looking at it, there are other variables,

But with out borrowing the whole world economy would collapse.

Now, if I made the rules, haha we'd get rid of all of the lenders so that people could keep what they earn for themselves. I well understand fractional banking which is what you describe, but that benefits the bankers, not us. What you really said was that the bankers are able to lend that $100 more than once which is a Ponzi scheme. If I did that I'd go to jail.

If I really want a strong economy and a strong country I eliminate the concept of debt and paying interest. Everyone pays cash. No one is a slave to debt. Therefore everyone has more money to spend without first paying debt and interest.

This would also eliminate most inflation. The fed couldn't print money to pay debt because there wouldn't be any. Fractional banking wouldn't artificially increase the money supply. The nations would be sound due to no debt.

Next, things could cost only what people can afford to pay, instead of what they can "afford" to pay on a 7 or 30 year loan. Think of it. If a house is for sale, it won't bring more money than someone can pay up front in cash.

Give it another thought. Do we really want those banksters sucking up so much of the economy in interest to line their pockets? I don't think so.

"Neither a borrower nor lender be."

There is merit in what you say,

but in a complex economy where there are projects large enough to require funds from more than one person there needs to be a mechanism other than the corporate structure to fund such projects. But with such monetary leveraging mechanisms there need to be adequate regulations to prevent the abuse that brought us in the current situation.

I bought my home on credit. A lot of my friends and acquaintances have done so.

Ponzi scheme! you sold your house multiple times to your friends???

[StreetCowboy]

...I bought my home on credit. A lot of my friends and acquaintances have done so.

Ponzi scheme! you sold your house multiple times to your friends???

I wish I'd thought of that.

Bytheway, have you ever considered investing in property in the East End of Glasgow?

SC