Thai Commerce Ministry faces public anger over cost of living

[ianf]

"Foreign investors have added to the woes by withdrawing massive funds from the Thai capital market."

On this occasion this is not pointing fingers at 'farangs' - rather it is making a comment about market conditions.

If you were speculating on currencies/shares would you invest your pension fund billions into Thailand?

Well, hardly with the dummies who are currently in control!!!!!! Not a risk that anyone would/should take.

And off course, with the current policies pursued by this Government prices will keep on rising as economic decisions are not being made with any regard to market conditions.

The economic policy appears to be "chuck money at it" and "feed the crumbs to the proletariat" because in that way it is easy to "buy" their support (car tax, rice scheme, min wage, grand schemes etc etc etc)

There appears to be no foresight, forethought or fore planning by the foreskins in power.

[Suradit69]

Nice the way the article blames foreigners as well for taking their money out of the country. It's never their own fault but always those evil foreigners.

"Foreign investors have added to the woes by withdrawing massive funds from the Thai capital market."

Stating a fact doesn't amount to blame and there's no mention of anyone being evil.

Money flowed into the country and contributed to the rise of the baht against foreign currencies as well as adding to investment in infrastructure, manufacturing capacity and employment. The various ministries and government officials acknowledged that as a factor when it was a noticeable influence on the economy. Clearly a shift in the direction of flow of foreign investment has an impact too.

Your juvenile take on the comment is one more example of reading sinister meaning into an innocuous statement or event. Thailand's economy is certainly as much a hostage to outside influences as every other country in the world, including the major economies, and probably more easily effected because of its smaller size.

The real world isn't some video game with good battling evil at every turn.

Edited September 6, 2013 by Suradit69

[slapout]

The present government leaders (there are only a half dozen who have held their position) have been telling the public for 18 months that their is no inflation, corruption, waste, etc. At the same time they ask for more time, support, and trust while they take us on another ride.

The merry go round has picked up speed, the breaking system is broken, and the conductor is/has taken the proceeds and and moved to the next ride. Each resuffle/change has seen more of the population disappointed/betrayed and its come back to haunt them. (government)

It would appear that this session of Thaksin leadership/corruption will bring Thailand to its knees as it looks for a monetary savior. This is basically where the majority of the Thais have been for generations so there will be no real change, except for a redistribution of serval billion in assets/cash.

[Psych01]

My missus (Thai) said to me, only yesterday, that general food prices in Thailand are getting more and more expensive. I said yep. Finally, we both agree on something within LOS. ;-)

Edited September 6, 2013 by Psych01

[mikemac]

An official manning the hotline desk, which fields complaints or tip-offs about product prices, said the mysterious caller also threatened to splash acid on Vatchari.

The woman has since changed her mind, the price of acid had risen so much she could not afford to buy it.

"It's just a perception that goods are expensive," she added.

An absolute classic statement. I am sure she borrowed this line from Yingluck.

I would like to take this halfwit for a walk around Wororot Market in Chiang Mai where I shop regularly for basic groceries etc and ask her to tell the old ladies I buy off that it is only a perception that goods are expensive.

Almost every day I go shopping I hear complaints about the rising costs and apologies for having to increase retail prices.

[thaimlord]

time to: 1. teach Thais economics/inflation basics in high school and 2. vote with basic common sense

Teaching it back home hasn't made any of our politicians any better than those here.

[mikemac]

"Foreign investors have added to the woes by withdrawing massive funds from the Thai capital market."

Stating a fact doesn't amount to blame and there's no mention of anyone being evil.

Money flowed into the country and contributed to the rise of the baht against foreign currencies as well as adding to investment in infrastructure, manufacturing capacity and employment. The various ministries and government officials acknowledged that as a factor when it was a noticeable influence on the economy. Clearly a shift in the direction of flow of foreign investment has an impact too.

Your juvenile take on the comment is one more example of reading sinister meaning into an innocuous statement or event. Thailand's economy is certainly as much a hostage to outside influences as every other country in the world, including the major economies, and probably more easily effected because of its smaller size.

The real world isn't some video game with good battling evil at every turn.

Hard to believe foreign investors are not queuing up to invest money in Thailand. After all, the PTP has been doing such a wonderful job of running the country.

(Or have they finally realized the country is being run into the ground and sent broke by a pack of bumbling, lying buffoons ?)

[dudu]

Prices have been going up steadily for last the three years, prawns,just an example have gone from per/kg. 120B to now 220/240B, pork from 80B to 140B, the suppliers are abiding to the 300B minimum wage, but probably(guessing) 60 percent of workers (Chiang mai) are working for around 100 to 150 per day, so these are the people it hurts most, until they get some sort of infrastructure happening on the employment front , i am afraid problems will arise...

Edited September 6, 2013 by dudu

[rascalman]

Violence, verbal threats seem to be the norm here.Yet It will not solve your problems, we all here have to pay. What do we do? We make do the best way we can, we pray for those on the streets. Or sick maybe dying. Go about it in peace always. That is my choice!

[NoshowJones]

Prices of many items have a lot to do with the global economy, out of the influence of Thai governments. Raising the minimum wage was an election promise of both sides and to my opinion quite a good idea as there hadn't been any substantial raise in a very long time and it's struggling at 5000 Baht a month.

Thailand's problem is in productivity and efficiency. It keeps amazing me to see 8 staff in a 7Eleven spending more time with each other than on customers, TOT that sends 6 people to install a simple telephone line spread over 3 visits, the army of people in banks that fiddle around with paper and stamps ignoring huge ques, and I can go on and on about this.

Why with the high wages is it possible to get a kilo of pork or beef in the shop at better quality and lower prices in western Europe than here in Thailand?

If Thailand would learn to use less people to do the same job the wages could be raised even more, tackling another problem of inequality here as most of the money that is made ends up in very few pockets. The latter will be the most difficult problem as it's them who pull the strings in the system.

Yes, I could not agree more, an excellent post.

[GeorgeO]

"It's just a perception that goods are expensive," she added.

If you have a plush government job, she muttered under her breath.

The impact of all of this is obviously being felt at the lowest levels, so she would have no real idea of how these people are being affected.

I guess it was only a "perception" that I paid 44 baht last week for ten of the largest eggs at the local market, and 47 baht for the same product this week...!

The end is nigh YL...!

[jmccarty]

Just wait til that woman gets liquored up and pissed off about the alcohol tax increase!

[h90]

Every food shop and food cart in my soi raised prices on Monday - 30 to 35, 35 to 40, 40 to 55 etc. Taking the previous price of 35 as an average, that's a 14.3% increase. I guess it's just my "perception" that a 14.3% increase has made food significantly more expensive.

yes but than add to the mix the price of 30 inch flat screen, mobile phones, computer RAM, tablets and whatever electronic toys got much cheaper until you have zero inflation on the paper.

[TomTao]

Nice the way the article blames foreigners as well for taking their money out of the country. It's never their own fault but always those evil foreigners.

If it were feasable, perhaps the foreigners could with hold the money they bring into the Thai economy for a month or two, then we could see how much the evil foreigners are blamed for the economic woes caused by the fiscal ineptitude of this government.

[gemini81]

Nice the way the article blames foreigners as well for taking their money out of the country. It's never their own fault but always those evil foreigners.

"Foreign investors have added to the woes by withdrawing massive funds from the Thai capital market."

Stating a fact doesn't amount to blame and there's no mention of anyone being evil.

Money flowed into the country and contributed to the rise of the baht against foreign currencies as well as adding to investment in infrastructure, manufacturing capacity and employment. The various ministries and government officials acknowledged that as a factor when it was a noticeable influence on the economy. Clearly a shift in the direction of flow of foreign investment has an impact too.

Your juvenile take on the comment is one more example of reading sinister meaning into an innocuous statement or event. Thailand's economy is certainly as much a hostage to outside influences as every other country in the world, including the major economies, and probably more easily effected because of its smaller size.

The real world isn't some video game with good battling evil at every turn.

The real world IS like a video game: drones, robots, hi tech war- private banks creating money with no cash reserve in computers..cameras everywhere-on and on it goes. Modern life is way too much like a video game.

Read 1984.

[lostmebike]

Well, you voted for them . . . stop complaining or vote in someone who can do the job properly instead of shopping or posing for the cameras.

Nail on the head my man!

As you Thai's like to say, 'som nom na'

[lostmebike]

"It's just a perception that goods are expensive," she added

That's right. If we bury our heads in the sand long enough, all the problems disappear, oh what problems?

[moe666]

This is all chaotic.

In the first place, who was this caller? Some rich fat dowager worrying about her comfy life?

I am not convinced that your average mom and pop shoppe on the street are even aware of these things. Moreover, when one considers the many variables that must come into alignment in order for anyone to even be aware of these things, it is easy to rule out 90 percent of the Thai population who do use cooking gas, do use electricity (illegally hiooked up), and do not use expressways when driving their 20 year old jalopies, weatherbeaten carts and broken down scooters.

The threat of an acid attack is typical of rich fat dowagers who feel threatened, as well as any spoiled, rich bumholes in general.

I rate this entire issue as the wealthy pitting themselves against the wealthy, and do not see any clear evidence of the poor majority as even being aware of this.

The folks who run the mom and pop stores are more aware than you give them credit for, our little shop reported a few days ago beer go up and that was before the story appeared in the Bangkok Post. You seem to have a western out look on Thais that they are all hillbillies.

[peterbkk9]

I feel sorry for the low-income people who certainly have great difficulties with raising prices and the consequences of the policies initiated by this inept government.

But for the middle class people maybe if they did not over commit themselves to loans they cannot afford (cars, condos etc...) they would not be so overcome by debt and have some margin to breathe.

I mean, look at what they earn and see the cars they drive! If you can afford a Fortuner, can't you afford the expressway price increase?

This is typically "péter plus haut que son cul" as we say in French.

[bigbamboo]

Quit complaining and listen to the PM.

She has already said you are imagining these price rises and in reality you are all richer than you've ever been, just as PT promised when you voted for them.

[mikemac]

This is all chaotic.

In the first place, who was this caller? Some rich fat dowager worrying about her comfy life?

I am not convinced that your average mom and pop shoppe on the street are even aware of these things. Moreover, when one considers the many variables that must come into alignment in order for anyone to even be aware of these things, it is easy to rule out 90 percent of the Thai population who do use cooking gas, do use electricity (illegally hiooked up), and do not use expressways when driving their 20 year old jalopies, weatherbeaten carts and broken down scooters.

The threat of an acid attack is typical of rich fat dowagers who feel threatened, as well as any spoiled, rich bumholes in general.

I rate this entire issue as the wealthy pitting themselves against the wealthy, and do not see any clear evidence of the poor majority as even being aware of this.

Funniest thread I have read for a while ?

Another one who thinks the rising prices are just a "perception"

I rate this entire issue as the wealthy pitting themselves against the wealthy, and do not see any clear evidence of the poor majority as even being aware of this.

You obviously do not interact with "the poor", as I do on a daily basis. Where the hell do you live ? Dubai ?

And I have news for you pal, the fat and rich do not throw acid at people, or even threaten to do so. They pay contractors in black pick-ups or on motorcycles to do their dirty work.

The woman who threatened the ministry's permanent secretary Vatchari Vimooktayon was probably a food vendor who works hard enough as it is to feed her family.

Get used to this scenario, there is going to be a lot more of it happening in the near future.

[pacovl46]

Well, let's double the minimum wage. Heck, let's double everyone's pay. That won't affect prices, and everyone will be rolling in money.

Oh wait...

While we're at it, let's raise taxes on some more things so the government can keep spending more which always stimulates an economy.

Oh wait...

The minimum wage rise was desperately needed.

[drdoom6996]

Sorry I have to agree with several comments here. The Thais got exactly what they voted for or what the politicians paid them for. And the current ruling party got exactly the consequences of their actions/inactions. But try telling either group that. Some of us on TV spoke to Inflation/ Recession at the same time before Ms. Puppet was elected. You can't do what she said she would do without it. But she did. And now Ms. Puppet needs 2.2 trillion Baht to keep the downhill slide going for the "puller of strings". Thais will never wake up as long as they have somebody to bitch at. No matter which side. That is what they learn on the television from the politicians. Cause they don't learn in school. The amount of people who can not read or write is higher now that it was 26 years ago when I got here. Even with the population increase more should be able to at least read and write than then. Say what you will but everybody in Thailand has gotten what they are owed, even me.

[BuddyPinkham]

Prices of many items have a lot to do with the global economy, out of the influence of Thai governments. Raising the minimum wage was an election promise of both sides and to my opinion quite a good idea as there hadn't been any substantial raise in a very long time and it's struggling at 5000 Baht a month.

Thailand's problem is in productivity and efficiency. It keeps amazing me to see 8 staff in a 7Eleven spending more time with each other than on customers, TOT that sends 6 people to install a simple telephone line spread over 3 visits, the army of people in banks that fiddle around with paper and stamps ignoring huge ques, and I can go on and on about this.

Why with the high wages is it possible to get a kilo of pork or beef in the shop at better quality and lower prices in western Europe than here in Thailand?

If Thailand would learn to use less people to do the same job the wages could be raised even more, tackling another problem of inequality here as most of the money that is made ends up in very few pockets. The latter will be the most difficult problem as it's them who pull the strings in the system.

Have 10 people working in 7-11 is the government's way of keeping the unemployment rate down.

[wwex]

A woman called the Commerce Ministry's 1569 hotline on Wednesday and threatened physical violence against the ministry's permanent secretary Vatchari Vimooktayon, it was disclosed yesterday. An official manning the hotline desk, which fields complaints or tip-offs about product prices, said the mysterious caller also threatened to splash acid on Vatchari.

Whatever the sins of this government are , and they have many,nothing, absolutely nothing, justifies throwing acid onto another human being.

no it doesnt, but as a threat it sure works to get the message out

[jpeg]

Well, you voted for them . . . stop complaining or vote in someone who can do the job properly instead of shopping or posing for the cameras.

And they expected prices to stay the same after they begged for a wage increase to 300THB per day? Before it even went into effect street vendors were jacking up prices.

Who is receiving 300 baht per day? Serious question.

I know here on Phuket you'd be lucky to have a handyman for 500 baht, if you could find one willing to work. I asked a local Thai neighbour for any recommends and he said 'Try the Burmese' I was also told by my vet that 'Thai people too have difficulty in getting someone to work'. And I've been told for many years each and every increase is because 'naman pairng'. So, yes I believe 'gouge away' is the order of the day but fail to see 'business costs of labour pricing Thailand out of the market' holds any water. They simply substitute for Burmese.

I have one great THAI electrician and a THAI computer guy, but can't get anyone else out of bed who holds a Thai ID. And neither, it seems, can the Thais.

[EyesWideOpen]

Sorry I have to agree with several comments here. The Thais got exactly what they voted for or what the politicians paid them for. And the current ruling party got exactly the consequences of their actions/inactions. But try telling either group that. Some of us on TV spoke to Inflation/ Recession at the same time before Ms. Puppet was elected. You can't do what she said she would do without it. But she did. And now Ms. Puppet needs 2.2 trillion Baht to keep the downhill slide going for the "puller of strings". Thais will never wake up as long as they have somebody to bitch at. No matter which side. That is what they learn on the television from the politicians. Cause they don't learn in school. The amount of people who can not read or write is higher now that it was 26 years ago when I got here. Even with the population increase more should be able to at least read and write than then. Say what you will but everybody in Thailand has gotten what they are owed, even me.

You are correct, the people in a country get EXACTLY the government they deserve,

no more and no less... So here when the votes are bought for 500 baht, no wonder

morons hold office and run the country into the ground. And if things keep going downhill,

not only will Thailand be stunned at foreign capital outflow ( shades of 1997), they may

also be stunned at farang outflow and all the support they give to the poor people of Isan.

[A1Str8]

As a result of corruption, robbing the nation etc..the country is in trouble.

Of course the prices are being raised and public anger will not change that at all. As for voting, if that could change anything it would be illegal.

The only reason citizens are given the right to vote is because it's an illusion.

Sent from one of my devices using the internet

[tingtong]

The one law Thailand can't Mai Pen Rai...The law of supply and demand

Everyone knows this...but the government.

They sure try and try! ( see rice pledge, rubber price guarantee, etc, etc)

[caughtintheact]

recycler, on 06 Sept 2013 - 09:41, said:

Raising the minimum wage was an election promise of both sides and to my opinion quite a good idea as there hadn't been any substantial raise in a very long time and it's struggling at 5000 Baht a month.

recycler needs a course in basic economics. An increase in the minimum wage without a corresponding increase in demand for products is inflationary, .When you see the minimum wage increase, few people seem to understand that only two groups benefit. The minimum wage earners benefit in the short term until the inflationary effects cancel out the increased pay as we are seeing now. The other beneficiaries are the politicians who benefit from getting votes from economics-challenged voters. But what about all the unskilled labor who want jobs but get priced out of the market by the minimum wage increase? What about the youngsters who are seeking their first job, but can't get one because the minimum wage has been increased? Their ability to get job training, and gain skills and experience is delayed because of the minimum wage increase.

In addition many or most people in minimum wage jobs do not stay at the minimum wage level forever. They remain at minimum wage until. they qualify for higher pay. You seem to think that because there is no increase in the minimum wage for a long time that the same people stay at the same level all the time, and that is incorrect. As a matter of fact, as the inflationarey effects of a minimum wage increase take hold and prices rise, the next demand is.....for another increase in the minimum wage. In other words it becomes a vicious inflationary re-cycle (pun intended) that causes higher costs of living for all.