Thailand braces for "US default" impacts

[webfact]

ECONOMY
Thailand braces for "US default" impacts
The Nation

BANGKOK: -- Prime Minister Yingluck Shinawatra has ordered the Finance Ministry, the Bank of Thailand and the National Economic and Social Development Board to closely monitor movements in the Capitol Hill.

She called for a meeting with the three economic agencies this morning.

Teerat Ratanasevi, government’s spokesman, said that at the meeting they discussed the overall picture of the Thai economy and external factors inlcuding the US shutdown and negotiation on the debt ceiling were included.

The NESDB and Finance Ministry’s Fiscal Policy Office are of the view that a default would not take place until early November, though the US lawmakers cannot compromise on the debt ceiling by October 17.

The US has about US$30 billion of cash in hand. However, if the deal could not be reached by November 15, the situation would be worrying as the repayment of $30 billion debt will come due. In case of default, this could spark capital flight from the US.

Present at the meeting were Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong and BOT governor Prasarn Trairatvorakul.

-- The Nation 2013-10-16

[bigbamboo]

I would rather hope they have been doing that already without waiting for La Shinawat to issue an order.

[gemini81]

They haven't prepared jack s*, I don't think PTP or gov't officials are even capable of seeing the whole scope of things; especially, say if they totally killed the dollar, depending on the rothschilds, morgans' decision to one day let it all go; 17 trillion and climbing.

At least it isn't "shutdown" but just cut out places and operations not making much...the police & army sure aren't shut down!

Better get back to their micro level flood management first, since they fail and even the most basic, predictable things year after year.

Edited October 16, 2013 by gemini81

[soi41]

Maybe Thailand should brace for "Thailand default" impacts instead??

[expat888]

Everybody has their panties in a wad about this default. It won't happen. It is against US law to default. The US has more than enough regular tax income to pay for the interest on it's loans.

[h90]

Everybody has their panties in a wad about this default. It won't happen. It is against US law to default. The US has more than enough regular tax income to pay for the interest on it's loans.

Well there are many things that are against law and still they do happen.....

[Soutpeel]

She called for a meeting with the three economic agencies this morning,

but did she attend said meeting or go shopping and more importantly if she did attend...did she have clue what this is all about ?

[butterlimbo]

They haven't prepared jack s*, I don't think PTP or gov't officials are even capable of seeing the whole scope of things; especially, say if they totally killed the dollar, depending on the rothschilds, morgans' decision to one day let it all go; 17 trillion and climbing.

At least it isn't "shutdown" but just cut out places and operations not making much...the police & army sure aren't shut down!

Better get back to their micro level flood management first, since they fail and even the most basic, predictable things year after year.

Pretty sure thai officials know nothing about The Rothshilds, they should immediately contact a random farang insider with a membership at the secret-conspiracy- schmuschmu-dot-com webforum. these guys are capable of seeing things.

Edited October 16, 2013 by butterlimbo

[marcusd]

She called for a meeting with the three economic agencies this morning,

 

but did she attend said meeting or go shopping and more importantly if she did attend...did she have clue what this is all about ? 

 

ah yes she does and she did.

She asked questions like "what colours do they come in apart from greenbacks"

Sent from my RM-892_apac_laos_thailand_219 using Tapatalk

[Thai at Heart]

I would rather hope they have been doing that already without waiting for La Shinawat to issue an order.

This translates to, "I just discovered this is happening, I haven't got a clue what it means, but I'm saying something and ordering you lot to do something about it to make me look useful. "

[likewise]

No to worry according to some poster it's all buy and hold

[Jeffrey346]

And what does she think the Finance Ministry can do at this late date if there was a default. The crack Thai weather bureau is forecasting 27 additional days of rain... Now that is something Lady Thai should be worried about.

[Mrjlh]

No default....agreement was finally made. Rest easy. Our buttheads are a bad as "you know who" when it comes to governments.

[HUAHIN62]

Westerners critize the Thai's on how they are running their country, I find this very funny.

[webfact]

US Senate reaches debt limit deal
Senate Republican and Democrat leaders strike deal to end government shutdown and raise the nation's debt limit
/BBC

[tromboneman]

They haven't prepared jack s*, I don't think PTP or gov't officials are even capable of seeing the whole scope of things; especially, say if they totally killed the dollar, depending on the rothschilds, morgans' decision to one day let it all go; 17 trillion and climbing.

At least it isn't "shutdown" but just cut out places and operations not making much...the police & army sure aren't shut down!

Better get back to their micro level flood management first, since they fail and even the most basic, predictable things year after year.

I wonder if their lack of understanding and preparedness might mean Thailand won't be so drastically affected if the dollar goes really bust. Maybe it's finger isn't in the pie so deeply.

[Pond Life]

Hurrah, the USA is "fixing" the debt problem by voting to go deeper in debt.

Sounds like a 3 rd world banana republic to me.

[webfact]

related:
US Senate votes to raise debt cap, reopen government

Full story: http://www.thaivisa.com/forum/topic/675149-us-senate-votes-to-raise-debt-cap-reopen-government/

[gemini81]

They haven't prepared jack s*, I don't think PTP or gov't officials are even capable of seeing the whole scope of things; especially, say if they totally killed the dollar, depending on the rothschilds, morgans' decision to one day let it all go; 17 trillion and climbing.

At least it isn't "shutdown" but just cut out places and operations not making much...the police & army sure aren't shut down!

Better get back to their micro level flood management first, since they fail and even the most basic, predictable things year after year.

Pretty sure thai officials know nothing about The Rothshilds, they should immediately contact a random farang insider with a membership at the secret-conspiracy- schmuschmu-dot-com webforum. these guys are capable of seeing things.

Just takes anyone with internet access and a few books written by the dynasty, or some knowledge of history to know what is going on. Nothing to do with conspiracies. They've been financing wars and calling the shots starting since the time they took over the bank of england during the age of napolean.

That would no doubt cause any PTP member to go into cardiac arrest, or have their entire brain just shutdown.

[kirk0233]

Another press release to try and make Yingluck appear smart and in control.

[fire and ice]

Everybody has their panties in a wad about this default. It won't happen. It is against US law to default. The US has more than enough regular tax income to pay for the interest on it's loans.

Well there are many things that are against law and still they do happen.....

If they default its not like people will lose money (as was the case with Greece), the US will simply have to pay the money back late with extra interest. of course this is a serious issue for those relying on the cash on the correct date but not as if they will lose their cash.

Incidentally IMHO Greece should not be allowed to default and not pay - any nation that does this and cannot pay shoudl be forced to CEDE LAND. Yes I mean sell territory to another country (so they can pay) or cede land to the creditor.

[gemini81]

Another press release to try and make Yingluck appear smart and in control.

.......but you still can't polish a turd. They'll have to start making comparisons to Forrest Gump to make her look better. At least they can both 'run'! She can 'run' abroad whenever anything domestic goes wrong.

Edited October 17, 2013 by gemini81

[butterlimbo]

They haven't prepared jack s*, I don't think PTP or gov't officials are even capable of seeing the whole scope of things; especially, say if they totally killed the dollar, depending on the rothschilds, morgans' decision to one day let it all go; 17 trillion and climbing.

At least it isn't "shutdown" but just cut out places and operations not making much...the police & army sure aren't shut down!

Better get back to their micro level flood management first, since they fail and even the most basic, predictable things year after year.

Pretty sure thai officials know nothing about The Rothshilds, they should immediately contact a random farang insider with a membership at the secret-conspiracy- schmuschmu-dot-com webforum. these guys are capable of seeing things.

Just takes anyone with internet access and a few books written by the dynasty, or some knowledge of history to know what is going on. Nothing to do with conspiracies. They've been financing wars and calling the shots starting since the time they took over the bank of england during the age of napolean.

That would no doubt cause any PTP member to go into cardiac arrest, or have their entire brain just shutdown.

What next? "The juice did WTC?"

all it takes is an internet access and you will find everything about.

it is antisemitic conspiracy bullshit.

[Benmart]

Westerners critize the Thai's on how they are running their country, I find this very funny.

All westerners or just some?

[gemini81]

Westerners critize the Thai's on how they are running their country, I find this very funny.

We'll remember that if you say anything that does not support all the decisions of PTP and anything the implement; if you're living here long-term, also don't criticize, right? I find this new poster very funny.

Edited October 17, 2013 by gemini81

[flyingdoc]

Well, at least the most imminent threat now seems to have passed!

[HUAHIN62]

Westerners critize the Thai's on how they are running their country, I find this very funny.

All westerners or just some?

Only the ones with superiority complexes.

[HUAHIN62]

Westerners critize the Thai's on how they are running their country, I find this very funny.

We'll remember that if you say anything that does not support all the decisions of PTP and anything the implement; if you're living here long-term, also don't criticize, right? I find this new poster very funny.

What I find funny is that people that don't live here long term and/or work here and/or pay tax here have so much to say about Thailand, while their own countries are dysfunctional. I have never said that someone that live in Thailand long term (like myself) cannot critize, but when one critize one should be balanced, base your critisism on facts not emotions and not on comparison with ones home country. Many posters on TV talk about how uneducated and ignorant Thai's are, but from their own post it becomes clear that they are clueless. Very few do any research about the facts and believe what they hear from friends and read in the English press. Before expressing a view about something you know little about think twice as an ill informed view express more about you than the subject you are expressing a view on.

[Baerboxer]

And what does she think the Finance Ministry can do at this late date if there was a default. The crack Thai weather bureau is forecasting 27 additional days of rain... Now that is something Lady Thai should be worried about.

Agree - she is just trying to make herself look important and appear to be running things. The Thai FM couldn't do diddly squat. But, this will be added to the list of foreign driven excuses for any future issues with the Thai economy. Certainly won't be down to the wonderful PTP policies.

I doubt she cares about the weather forecast, other than deciding what to wear. The floods will never adversely affect her or her clan, and indeed may present some "business" opportunities. Anyway, must be time for the next important overseas visit to conclude some more highly beneficial MOU's and trade deals.

[Baerboxer]

Westerners critize the Thai's on how they are running their country, I find this very funny.

We'll remember that if you say anything that does not support all the decisions of PTP and anything the implement; if you're living here long-term, also don't criticize, right? I find this new poster very funny.

What I find funny is that people that don't live here long term and/or work here and/or pay tax here have so much to say about Thailand, while their own countries are dysfunctional. I have never said that someone that live in Thailand long term (like myself) cannot critize, but when one critize one should be balanced, base your critisism on facts not emotions and not on comparison with ones home country. Many posters on TV talk about how uneducated and ignorant Thai's are, but from their own post it becomes clear that they are clueless. Very few do any research about the facts and believe what they hear from friends and read in the English press. Before expressing a view about something you know little about think twice as an ill informed view express more about you than the subject you are expressing a view on.

Agree - some people may not always do research and check information before jumping to conclusions. You obviously do this. as you wouldn't advocate others to do something you don't do.

So, based on your extensive and unbiased research, can you please present your balanced views on how you think the Thais are running their country?

This will be much more effective than simply saying you are amused by people who criticize Thailand's running in comparison to dysfunctional Western countries.

Look forward to seeing your informed and unbiased views.