Thai household debt skyrockets, predatory lending mushrooms

[SICHONSTEVE]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

[Sing_Sling]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

[SICHONSTEVE]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

I am!!! and I do!!!

[Sing_Sling]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

I am!!! and I do!!!

Excellent, says a lot about you - it's a shame that personal responsibility is so easily thrown off oneself.

Criticism where it is due, not where it is easy

[SICHONSTEVE]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

I am!!! and I do!!!

Excellent, says a lot about you - it's a shame that personal responsibility is so easily thrown off oneself.

Criticism where it is due, not where it is easy

So I am to blame for this foolhardy scheme now!!! The funny thing is.....I don't remember suggesting this to Thaksin/Yingluck and I am not sure they would listen to me anyway.

This IS criticism where it is due in my book by the way, as if they hadn;t have mishandled the floods so badly then the Japanese car manufacturers factories wouldn't have been flooded and they wouldn't have had to appease them with this scheme to stop them from moving to neighbouring countries where the labour costs are cheaper (now).

The roads, which were already crowded would not then be further crowded and people wouldn't be 'up to their eyeballs in debt' having to hand back the keys to the car they didn't really need but bought because they could get it cheap!!!

It is easy to criticise I accept, because they deserve every bit of it and more!!!!.

[Sing_Sling]

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

I am!!! and I do!!!

Excellent, says a lot about you - it's a shame that personal responsibility is so easily thrown off oneself.

Criticism where it is due, not where it is easy

So I am to blame for this foolhardy scheme now!!!

Is that a serious question? If so then please point me in the direction to where I stated that . . . perhaps I can type in crayon next time to make it easier for you to understand

[SICHONSTEVE]

Firstly, I believe it is against the forum rules to edit other posters postings and take something out of it's full context.

Secondly, it is not a question (you may not have noticed but it doesn't have a question mark after it, which is a pretty big clue normallyf).

Lastly, your mind works in peculiar ways as I haven't got the foggiest what you are on about!!!!.

[Issangeorge]

 

 

 

 There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

 

 . . . and then blame it on Yingluck and Thaksin . . . like so many already do here

 

 

 I am!!! and I do!!!

 

Excellent, says a lot about you - it's a shame that personal responsibility is so easily thrown off oneself. 

 

Criticism where it is due, not where it is easy

 

 

 So I am to blame for this foolhardy scheme now!!! The funny thing is.....I don't remember suggesting this to Thaksin/Yingluck and I am not sure they would listen to me anyway.  

 This IS criticism where it is due in my book by the way, as if they hadn;t have mishandled the floods so badly then the Japanese car manufacturers factories wouldn't have been flooded and they wouldn't have had to appease them with this scheme to stop them from moving to neighbouring countries where the labour costs are cheaper (now).

  The roads, which were already crowded would not then be further crowded and people wouldn't be 'up to their eyeballs in debt' having to hand back the keys to the car they didn't really need but bought because they could get it cheap!!! 

 It is easy to criticise I accept, because they deserve every bit of it and more!!!!. 

The first car ownership scheme was announced during the election campaign in the spring of 2011, way before the floods. At the time of the announcement the car companies were doing quite well and didn't need any stimulus help.

Sent from my i-mobile IQ 6 using Thaivisa Connect Thailand mobile app

[SICHONSTEVE]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

I am!!! and I do!!!

Excellent, says a lot about you - it's a shame that personal responsibility is so easily thrown off oneself.

Criticism where it is due, not where it is easy

So I am to blame for this foolhardy scheme now!!! The funny thing is.....I don't remember suggesting this to Thaksin/Yingluck and I am not sure they would listen to me anyway.

This IS criticism where it is due in my book by the way, as if they hadn;t have mishandled the floods so badly then the Japanese car manufacturers factories wouldn't have been flooded and they wouldn't have had to appease them with this scheme to stop them from moving to neighbouring countries where the labour costs are cheaper (now).

The roads, which were already crowded would not then be further crowded and people wouldn't be 'up to their eyeballs in debt' having to hand back the keys to the car they didn't really need but bought because they could get it cheap!!!

It is easy to criticise I accept, because they deserve every bit of it and more!!!!.

The first car ownership scheme was announced during the election campaign in the spring of 2011, way before the floods. At the time of the announcement the car companies were doing quite well and didn't need any stimulus help.

Sent from my i-mobile IQ 6 using Thaivisa Connect Thailand mobile app

That's funny, because according to my information the floods began in July 2011 and the first buyer scheme was implemented on September 16th 2011 and ran throughout 2012. I would get your facts right before quoting false figures at me!!!

[gemini81]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

Yeah, first time car buyer's scheme (getting cars they couldn't pay for)...who was responsible for that????......

[billd766]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

They of course instantly blame it onto Abhisit and the Democrats as usual.

[Sing_Sling]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

Yeah, first time car buyer's scheme (getting cars they couldn't pay for)...who was responsible for that????......

And the consumers were forced to buy cars . . . anyway, the discussion was about more than that - have a look at the thread title or re-read the thread

[Sing_Sling]

There is going to be a lot of people thinking "now why did I foolishly buy that car when I knew I couldn't afford it"!!!!!

. . . and then blame it on Yingluck and Thaksin . . . like so many already do here

They of course instantly blame it onto Abhisit and the Democrats as usual.

Nope, neither, as per my previous posts as it is asinine to do so

[Nickymaster]

" buying property and assets such as houses and cars "

they will learn in the not too distant future that it is highly debatable to refer to cars as “ assets “

Unless they are imported!

..and assembled here. Then their value might in fact increase.

[SICHONSTEVE]

" buying property and assets such as houses and cars "

they will learn in the not too distant future that it is highly debatable to refer to cars as “ assets “

Unless they are imported!

..and assembled here. Then their value might in fact increase.

Anything you own is technically an asset. If it loses significant value then it can change to be a liability if you haven't paid for it in full. It doesn't matter where it was bought from, assembled or how it was come by, this is irrelevant!!

[a99az]

The illegal lenders should be easy to find as they leave there cards advertising what they do everywhere.

The problem is that the new government body to investigate corruption must ask it's self "how is this sort of practice able to flourish"

Who's not doing the job to prosecute and why. I can think of one reason.

[SICHONSTEVE]

The illegal lenders should be easy to find as they leave there cards advertising what they do everywhere.

The problem is that the new government body to investigate corruption must ask it's self "how is this sort of practice able to flourish"

Who's not doing the job to prosecute and why. I can think of one reason.

Its amazing how many anti-corruption officers are done for corruption!!!

They just can't resist the easy money I suppose.

[impulse]

Ah! The credit card feeding frenzy. I maxed out three cards and after the six months interest free period was up I took out another 3 cards and transferred the balances thus getting more interest free months. I invested the money in Japanese stocks, the Asian boom was in full flood, and I made a killing. When I could no longer get new credit cards I sold enough of my stock holdings to settle my debts and cancelled all the cards. All the dosh and stocks were held by the Trustee department of a major bank who brokered deals. The profits were not touched for 5 years, so no tax was payable. Anybody with an ounce of common sense could have done the same.

I could also bet my entire savings on a coin flip and have a 50% chance of retiring tomorrow...

Edited July 9, 2013 by impulse