Thai opinion: The long-term damage done by populist policies

[Nickymaster]

http://www.bbc.co.uk/news/business-23875084

Thanks for sharing. I didn't know that the BBC had a series on Thailand's populist, big-spending programmes

[indyuk]

Over a year later, the funds used to support this rice policy are estimated to be over Bt700 billion and counting. Most of it has gone into the pockets of political cronies, including their wives, mistresses, children, relatives and friends.

Does this get reported in Thai language in the same way?

I find this sweeping statement worrying in that it states that some imagined political cronies have stolen 'much of Bt 700 billion from the Rice Pledging account' Sorting their imagined ill gotten gains away in the accounts of their relatives. This comment I imagine is malicious since it is intended to destabilise the Thai government. Further it malines the extended Thai families of all Thai politicians.

I am disappointed that TV chose to publish Tatsujin's malfeasant claim.

[rametindallas]

And who comes next?

Sugar?, I see Brazil has devalued its currency, a big sugar producer so the price should be on the way down.

Palm oil?

Cassava?

But we must diversify from rice...................into what?

A monster has been created and will not die easily.

Exports are down, the baht is still going down, both public and private debt are way up, fuel and gas prices going up.

So what is the Governments answer?

Borrow more.

They will get no help from the US Federal Reserve Bank policy. In fact they are being thrown under the bus as I write.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10272285/Emerging-market-rout-is-too-big-for-the-Fed-to-ignore.html

Everyone is going to feel the pinch when bernanke turns off the taps. How low will the set and the baht go?

My prediction? 36 to the Dollar at best and 42 at worst. New elections in Thailand in April.

p.s. Ben Bernanke is an <deleted> IMO

[Thai at Heart]

And who comes next?

Sugar?, I see Brazil has devalued its currency, a big sugar producer so the price should be on the way down.

Palm oil?

Cassava?

But we must diversify from rice...................into what?

A monster has been created and will not die easily.

Exports are down, the baht is still going down, both public and private debt are way up, fuel and gas prices going up.

So what is the Governments answer?

Borrow more.

They will get no help from the US Federal Reserve Bank policy. In fact they are being thrown under the bus as I write.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10272285/Emerging-market-rout-is-too-big-for-the-Fed-to-ignore.html

Everyone is going to feel the pinch when bernanke turns off the taps. How low will the set and the baht go?

My prediction? 36 to the Dollar at best and 42 at worst. New elections in Thailand in April.

p.s. Ben Bernanke is an asshol_e IMO

Well say what u like, they just revised USA GDP up to 2.5% last quarter. Nearly time for the flood of USD to be cut off.

[bigbamboo]

There are no butter mountain in Europe.

That's what my Belgian friend always tell me.

Only Chocolate mountains and Beer rivers.

I used to dream of living by a Belgian Beer river.

Well, still do actually!

[Tatsujin]

Over a year later, the funds used to support this rice policy are estimated to be over Bt700 billion and counting. Most of it has gone into the pockets of political cronies, including their wives, mistresses, children, relatives and friends.

Does this get reported in Thai language in the same way?

I find this sweeping statement worrying in that it states that some imagined political cronies have stolen 'much of Bt 700 billion from the Rice Pledging account' Sorting their imagined ill gotten gains away in the accounts of their relatives. This comment I imagine is malicious since it is intended to destabilise the Thai government. Further it malines the extended Thai families of all Thai politicians.

I am disappointed that TV chose to publish Tatsujin's malfeasant claim.

You're being sarcastic, right?

Just in case you're not, the "quote" I posted is pulled directly from the original article and I personally find it more than believable seeing what's been happening with this country over the past few years.

[billd766]

Over a year later, the funds used to support this rice policy are estimated to be over Bt700 billion and counting. Most of it has gone into the pockets of political cronies, including their wives, mistresses, children, relatives and friends.

Does this get reported in Thai language in the same way?

I find this sweeping statement worrying in that it states that some imagined political cronies have stolen 'much of Bt 700 billion from the Rice Pledging account' Sorting their imagined ill gotten gains away in the accounts of their relatives. This comment I imagine is malicious since it is intended to destabilise the Thai government. Further it malines the extended Thai families of all Thai politicians.

I am disappointed that TV chose to publish Tatsujin's malfeasant claim.

Of course IF the government believed in honesty, transparency and good financial accountantcy perhaps we would all be wrong.

Or perhaps not.