Is Thailand in trouble or not?

[farang000999]

https://www.imf.org/external/np/sta/ir/IRProcessWeb/data/tha/eng/curtha.htm

[chiang mai]

Those of us who moved assets into this "banana republic" in 2005 and went on to buy our cars and condo's with those funds realised a substantial profit subsequently, not only did the assets increase in value but the subsequent currency gain added over 40% profit and without being taxed.

Unless you've cashed out just a "Paper" profit

RAZZ

ha ha chiang mai gloating about an asset that is NOT sold yet. Try selling the said condo or car and see how hard this is and how much you get..... then gloat. its the same with shares. Not until the money is in the bank can you brag...

If you were to read post 84 then you'd see those assets WERE sold some time ago. But there's no gloating here, it's a simple statement of fact and a rebutttal to the idea that people shouldn't bring money into Thailand..

[chiang mai]

Haven't seen this reported elsewhere so I'll add it here:

BOT reports, contrary to popular belief, that they spent USD3.37 billion in foriegn reserves since early August, defending the baht presumably, reserves still stand at 168 bill.

Not a suprise its not reported. Its in the same bag of denial as the secret rice export deals.

It's in the Nation today, on the front page of the business section. I noticed some changes in the BOT numbers on their web site a few days ago but was waiting because they seemed not to be up to date, now they are it seems.

[RAZZELL]

Those of us who moved assets into this "banana republic" in 2005 and went on to buy our cars and condo's with those funds realised a substantial profit subsequently, not only did the assets increase in value but the subsequent currency gain added over 40% profit and without being taxed.

Unless you've cashed out just a "Paper" profit

RAZZ

ha ha chiang mai gloating about an asset that is NOT sold yet. Try selling the said condo or car and see how hard this is and how much you get..... then gloat. its the same with shares. Not until the money is in the bank can you brag...

If you were to read post 84 then you'd see those assets WERE sold some time ago. But there's no gloating here, it's a simple statement of fact and a rebutttal to the idea that people shouldn't bring money into Thailand..

Err...you got "lucky" on currency fluctuations. That's all. What was the appreciation of your condo in how many years? "0"

RAZZ

[chiang mai]

Unless you've cashed out just a "Paper" profit

RAZZ

ha ha chiang mai gloating about an asset that is NOT sold yet. Try selling the said condo or car and see how hard this is and how much you get..... then gloat. its the same with shares. Not until the money is in the bank can you brag...

If you were to read post 84 then you'd see those assets WERE sold some time ago. But there's no gloating here, it's a simple statement of fact and a rebutttal to the idea that people shouldn't bring money into Thailand..

Err...you got "lucky" on currency fluctuations. That's all. What was the appreciation of your condo in how many years? "0"

RAZZ

Sure I was lucky on the currency swing, that kind of thing happens from time to time and is simply a windfall, you couldn't really have planned for it. But to be honest I paid for it along with everyone else in subsequent years when I had to transfer Pounds into the country at a lower rate of exchange, swings and roundabouts to some degree.

And yes, I let the condo go at the same price that I paid for it because I knew my profit was in the currency swing, in truth I could have perhaps picked up a further 200k but didn't, but I at least lived rent free for four years so there's a gain there also. Today that same condo is worth about 7 mill, not really much of an increase over ten years.

Edited September 7, 2013 by chiang mai

[StreetCowboy]

Those of us who moved assets into this "banana republic" in 2005 and went on to buy our cars and condo's with those funds realised a substantial profit subsequently, not only did the assets increase in value but the subsequent currency gain added over 40% profit and without being taxed.

Unless you've cashed out just a "Paper" profit

RAZZ

ha ha chiang mai gloating about an asset that is NOT sold yet. Try selling the said condo or car and see how hard this is and how much you get..... then gloat. its the same with shares. Not until the money is in the bank can you brag...

If you were to read post 84 then you'd see those assets WERE sold some time ago. But there's no gloating here, it's a simple statement of fact and a rebutttal to the idea that people shouldn't bring money into Thailand..

I made 400% one night at Happy Valley

[itchybum]

Happy Valley is a whorehouse right ?

[StreetCowboy]

Happy Valley is a whorehouse right ?

Does your internet not have Google?

[itchybum]

Its not my internet, its ours.

[bigbamboo]

May the baht continue to fall .

Me too.

I've a baht tree in my garden but it's very tall and I can't afford a ladder any more.

[i claudius]

Lets see what tomorrow brings ,up or down?

[lapd]

I know a lot of factories are slowly packing up and moving to nearby countries with lower wages. So that's got to be having an effect. Tourism will become more important as a result and that tends to be cyclical. Thailand has always tended to have boom and bust bubbles. I don't think any of that has changed. The trick seems to be knowing when the music will stop. Nobody really knows when that will happen.

Edited September 8, 2013 by lapd

[infinity11]

Is Thailand in trouble?

What country is NOT???

[i claudius]

Is Thailand in trouble?

What country is NOT???

Well Thailand wasnt ,the question is ,is it now?

[chiang mai]

There's much synergy between this thread and the one that tries to examine the GBP/THB exchange rate issue but for some reason they seem to continue to co-exist, for that reason there's a duplication of posts between the two threads. You may find the following helpful in trying to understand what's happening, if you haven't already seen it:

http://www.ftadviser.com/2013/09/06/investments/economic-indicators/uk-trade-deficit-widens-to-the-biggest-in-a-year-2RB7sQwtN2TvEvrBuHYzQP/article.html

[Somchai Mao]

I must admit it amazes me how young Thais manage to afford 20000 baht phones ,so many kids working in Tesco ect have them ,their hp debt must be massive

More worryingly a lot use the local Indian moneylender, you see them in Bangkok pulling up outside bars on mopeds when the girls start work looking for payment. In the UK think payday loans. Thai's unfortunately don't manage money very well.

[i claudius]

I must admit it amazes me how young Thais manage to afford 20000 baht phones ,so many kids working in Tesco ect have them ,their hp debt must be massive

More worryingly a lot use the local Indian moneylender, you see them in Bangkok pulling up outside bars on mopeds when the girls start work looking for payment. In the UK think payday loans. Thai's unfortunately don't manage money very well.

You are dead right,believe it or not my sister in law is a monylender,

[CHRISTIANa9]

Those of us who moved assets into this "banana republic" in 2005 and went on to buy our cars and condo's with those funds realised a substantial profit subsequently, not only did the assets increase in value but the subsequent currency gain added over 40% profit and without being taxed.

Unless you've cashed out just a "Paper" profit

RAZZ

First car cashed out and profit already take, bought CRV new for 1.2 mill at 70 baht per Pound, sold two years ago for 670k and converted back into Pounds at 45, cost of ownership over seven years, GBP 2,250. CM Condo bought for 6.4 mill at 70, sold for 6.4 mill at 51, now renting.

I don see why you should keep using pound as a reference unless you intend to leave thailand for good one fine day.

[BillyBobThai]

If the baht would only go to 42 to the US dollar, as it was when I moved here, then I would be in heaven.

[OldChinaHam]

SC....

I made 400% one night at Happy Valley

I have never once been to Happy Valley,

And this is something I regret, that I did not go in early 1980s.

Also, I thought they had moved it.

Everything else in HK, I tried more than once.

[chiang mai]

Those of us who moved assets into this "banana republic" in 2005 and went on to buy our cars and condo's with those funds realised a substantial profit subsequently, not only did the assets increase in value but the subsequent currency gain added over 40% profit and without being taxed.

Unless you've cashed out just a "Paper" profit

RAZZ

First car cashed out and profit already take, bought CRV new for 1.2 mill at 70 baht per Pound, sold two years ago for 670k and converted back into Pounds at 45, cost of ownership over seven years, GBP 2,250. CM Condo bought for 6.4 mill at 70, sold for 6.4 mill at 51, now renting.

I don see why you should keep using pound as a reference unless you intend to leave thailand for good one fine day.

Indeed I do, quite soon actually.

[StreetCowboy]

SC....

I made 400% one night at Happy Valley

I have never once been to Happy Valley,

And this is something I regret, that I did not go in early 1980s.

Also, I thought they had moved it.

Everything else in HK, I tried more than once.

I prefer Shatin, though I was never so fortunate there. I am thinking of stopping off for a day at the races on my way back from Vienna

Whitisthatsupposedtaemeen?

My apologies for the Off-Topic digression

SC

[johnnybgood]

It's boom boom time in Thailand

http://uk.finance.yahoo.com/news/boom-times-detroit-southeast-asia-213236448.html

[lapd]

It's boom boom time in Thailand

http://uk.finance.yahoo.com/news/boom-times-detroit-southeast-asia-213236448.html

If you read between the lines of that article you can glean the real story. A lot of those sales are domestic and a result of the tax break the Thai gov't gave to new car buyers. Also wage and cost of living increases are hitting manufacturing hard so that's going to have an effect on auto manufacturers sooner or later.

As Warren Buffet says, be greedy when everyone is fearful and be fearful when everyone is greedy. When you start reading about "boom times" it's time to be fearful imho. Especially in boom and bust economies like Thailand.

Edited September 9, 2013 by lapd

[OldChinaHam]

SC....

I made 400% one night at Happy Valley

I have never once been to Happy Valley,

And this is something I regret, that I did not go in early 1980s.

Also, I thought they had moved it.

Everything else in HK, I tried more than once.

I prefer Shatin, though I was never so fortunate there. I am thinking of stopping off for a day at the races on my way back from Vienna

Whitisthatsupposedtaemeen?

My apologies for the Off-Topic digression

SC

I would far prefer to see the bar scene leave Thailand,

And just have the bars and horse racing come in.

I mean the high class bars and any class of horse racing, like they used to have in Ireland for example.

This way, if we had more horse racing, it would do wonders by bringing in the wealthy Chinese, and the British to see what other positive changes could be made to benefit Thailand.

Just keep the Thai culture the same is all I ask.

Think what a boost it would be to the Thailand economy if we got rid of the underbellies?

And the underbelly of Thailand's tour industry.

No doubt it would boost travel and tour related income because I am sure there is still much more quick growth that could be had if Thailand were to change its image from one of sex tourism to one of Thai Language Study and Family Time at The Beach.

Every time a city gets rid of gambling and those working girls, all are happy in the end, and the neighborhood improves quickly as the place rapidly gets richer.

[historyprof]

SC....

I made 400% one night at Happy Valley

I have never once been to Happy Valley,

And this is something I regret, that I did not go in early 1980s.

Also, I thought they had moved it.

Everything else in HK, I tried more than once.

I prefer Shatin, though I was never so fortunate there. I am thinking of stopping off for a day at the races on my way back from Vienna

Whitisthatsupposedtaemeen?

My apologies for the Off-Topic digression

SC

I would far prefer to see the bar scene leave Thailand,

And just have the bars and horse racing come in.

I mean the high class bars and any class of horse racing, like they used to have in Ireland for example.

This way, if we had more horse racing, it would do wonders by bringing in the wealthy Chinese, and the British to see what other positive changes could be made to benefit Thailand.

Just keep the Thai culture the same is all I ask.

Think what a boost it would be to the Thailand economy if we got rid of the underbellies?

And the underbelly of Thailand's tour industry.

No doubt it would boost travel and tour related income because I am sure there is still much more quick growth that could be had if Thailand were to change its image from one of sex tourism to one of Thai Language Study and Family Time at The Beach.

Every time a city gets rid of gambling and those working girls, all are happy in the end, and the neighborhood improves quickly as the place rapidly gets richer.

Thailand always had the bar scene. Check the location of the brothels when the capital was Ayutthaya. It was always a part of Thai culture.

PS Saigon tried to get rid of the gambling and working girls and they ended up loosing the war. Are Kings Cross and Soho that bad? I like Vegas and Reno.

[jpeg]

I must admit it amazes me how young Thais manage to afford 20000 baht phones ,so many kids working in Tesco ect have them ,their hp debt must be massive

More worryingly a lot use the local Indian moneylender, you see them in Bangkok pulling up outside bars on mopeds when the girls start work looking for payment. In the UK think payday loans. Thai's unfortunately don't manage money very well.

They're penny proud and pound foolish. They'll make a big fuss over a couple of hundred baht but throw thousands at some born to fail scheme/lottery.

[lapd]

SC....

I made 400% one night at Happy Valley

I have never once been to Happy Valley,

And this is something I regret, that I did not go in early 1980s.

Also, I thought they had moved it.

Everything else in HK, I tried more than once.

I prefer Shatin, though I was never so fortunate there. I am thinking of stopping off for a day at the races on my way back from Vienna

Whitisthatsupposedtaemeen?

My apologies for the Off-Topic digression

SC

I would far prefer to see the bar scene leave Thailand,

And just have the bars and horse racing come in.

I mean the high class bars and any class of horse racing, like they used to have in Ireland for example.

This way, if we had more horse racing, it would do wonders by bringing in the wealthy Chinese, and the British to see what other positive changes could be made to benefit Thailand.

Just keep the Thai culture the same is all I ask.

Think what a boost it would be to the Thailand economy if we got rid of the underbellies?

And the underbelly of Thailand's tour industry.

No doubt it would boost travel and tour related income because I am sure there is still much more quick growth that could be had if Thailand were to change its image from one of sex tourism to one of Thai Language Study and Family Time at The Beach.

Every time a city gets rid of gambling and those working girls, all are happy in the end, and the neighborhood improves quickly as the place rapidly gets richer.

ROFLMAO. The Thai bar scene dwarfs the farang one. You seem to believe farangs are responsible for the whole brothel/bar thing...lol. Get a clue.

[OldChinaHam]

Thailand always had the bar scene. Check the location of the brothels when the capital was Ayutthaya. It was always a part of Thai culture.

PS Saigon tried to get rid of the gambling and working girls and they ended up loosing the war. Are Kings Cross and Soho that bad? I like Vegas and Reno.

Cheap entertainment and diversion for the proles, is Vegas and Reno.

Thailand has not always had the bar scene, but was introduced to it in the 60s by GIs, and the crowd of misfits who catered to them.

GIs don't know what to do for a good time usually, so they just follow their swinging ones, as usual.

[historyprof]

I must admit it amazes me how young Thais manage to afford 20000 baht phones ,so many kids working in Tesco ect have them ,their hp debt must be massive

More worryingly a lot use the local Indian moneylender, you see them in Bangkok pulling up outside bars on mopeds when the girls start work looking for payment. In the UK think payday loans. Thai's unfortunately don't manage money very well.

They're penny proud and pound foolish. They'll make a big fuss over a couple of hundred baht but throw thousands at some born to fail scheme/lottery.

We wouldn't be stereotyping would we and posting extremely negative views of Thailand or derogatory comments directed towards all Thais? No I guss they means someone else. But the other that "Thai's unfortunately don't manage money very well" does seem like a derogatory comment to me. But maybe I don't understand the posting rules very well.