Thailand braces for "US default" impacts

[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.

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.

Baerboxer lets start with economics. Not one of the major western economies have a public debt to GDP ratio of 46% as Thailand has. The US is +- 106% and the UK at +- 85%. The forecasts of this ration over the next 10 years look as follows US +-120%, UK +- 100% and Thailand +- 56% (if the B 2,2 tn infrastructure spending does take place, if not +- 40%). Looking at economic growth (GDP) US 1,8%, UK < 1% and Thailand +3,5%. Many analyst forecast that the US will have sub 3% for the next decade and the UK a 2% growth, Thailands GDP growth is forecasted at +- 4,5%. Both the US and UK economies are based on consumption, for the GDP to grow people need to spend more. This spending can be fuelled by income growth or debt. The income growth for the US is forecast at 0,5% average growth for the next 20 years and the UK at +- 1%. To obtain the GDP growth mentioned it will need private debt to grow, so the US and UK will be locked into boom and bust cycles. Thailands economy is based on exports which is linked to the world economy and can't escape downturns. The low level of total debt in Thailand and high foreign reserves means that the country can survive downturns better than most other countries. Thailand can grow without growing debt levels while the west can't. Just like debt can kill a person financialy (doesn't matter what Krugmann says) debt will bring down the US if it doesn't ring the changes, unfortunately I don't think any party has the political will to make changes thats needed.

Lets take education. A recent OECD study showed the bad state of education in the US and UK, you can read the study yourself. A few facts the UK came in 11 out of 24 countries on literacy and 17 th on maths. There was a big difference between older Brits and younger ones, the older Brits scored much better, which means the education system in the UK is producing less qualified people than in the past. The study also showed that the education level in the US and UK can be directly linked to income level of parents. So the rich is getting a good education and poor is staying behind. Sounds the same as in Thailand doesn't it, yet when many Americans and Brits talk about education on TV Thai education is bad and their countries are great. The truth is you need a lot of money to give your child a good education.

Corruption - Favoured topic of TV posters. Yes there is corruption in Thailand and it must be eradicated for the country to progress. In my view the rigging of Libor, commodity prices, exchange rates, interest rates/sub-prime lending and energy prices by western banks dwarf any corruption in Thailand. But in the west they pay a fine and get away with it, unless you are the London whale (low level bank employee that can be sacrificed). Lets take Boeing as an example. They are the US military's second biggest contractor. The Pentagon inspector general have found that they have stolen $ 16,6 bn from the military by using 2 nd hand spare parts in aircraft but charging the government for new parts. By the way you won't find this in the US media but in RT. The truth is every country have corruption, in Thailand its in your face but in the west its hidden behind the need to survive. If the US government really went for JP Morgan or any other too big too fail bank they could bring down the whole house of cards, thus only slap on wrist are given and no structural reform takes place, very much the same as in Thailand isn't it?

Politics - Democracy is like a child at the begining there is crap everywhere as it grows up it learn how to control it self. Then the child grows up and can decide its going to be a well behaved teenager or a rebel (mostly rebels). The next phase is the adult phase, where everything goes smooth. The last phase is old age them the adult grows old, grumpy, forgetful, still wants to be in control but dont have the ability anymore, gets involved in pity verbal fights. Then the person/democracy die. If you take into consideration how old the Thai democracy are compared to the US and UK ones where do you think Thailand are and where the other 2 are? If you look at how the politicians are acting in these countries

I would say Thailand is in the crappy phase to teenager phase and the west is in the adult to old age phase?

Baerboxer maybe better to talk about this over a beer than to fill pages with views.

[jalansanitwong]

Washington has kicked the can down the road till Feb 7 then theoretically they're broke again.

[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.

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.

What I find funny is that it is a GLOBAL economy and run by oligarchies- and lots of relations between- ex: The UN, BOT, the main int'l banks, foreign investment. Do your research, see which families run the international bank cartels etc. Stop thinking 'west is different than east' like the locals do, and see the big picture. Only a few, like Russia and Iceland, Iran Syria are resisting and not playing into the globalism (and therefore among the few not disfunctional). We know where thailand stands! And on a forum, we're free to say what we think.

The English press? I read the Thai press as well...they're both state controlled and have little independent media here- you just have to see which side each publication is slanted.

How is your criticism balanced and another poster's comment imbalanced?

Edited October 17, 2013 by gemini81

[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.

What I find funny is that it is a GLOBAL economy and run by oligarchies- and lots of relations between- ex: The UN, BOT, the main int'l banks, foreign investment. Do your research, see which families run the international bank cartels etc. Stop thinking 'west is different than east' like the locals do, and see the big picture. Only a few, like Russia and Iceland, Iran Syria are resisting and not playing into the globalism (and therefore among the few not disfunctional). We know where thailand stands! And on a forum, we're free to say what we think.

The English press? I read the Thai press as well...they're both state controlled and have little independent media here- you just have to see which side each publication is slanted.

How is your criticism balanced and another poster's comment imbalanced?

Think that you should read my answer to Bearboxer. But I agree the banks are controlling many events in the world. There are however a difference the banks in China and Russia is not run by the same people in the rest of the world. Thailand is closely linked to China, so is Malaysia and Singapore. These countries big businesses are run by people from Chinese desent. There is no more west and east, there is however a club/group which is based in the "west" but also control events, people. governments and corporations/banks in the rest of the world. The most important thing they however control is the media. By controlling the media they control the perception of the people. Many people don't look further than the mainstream media for news and thus their perceptions becomes one sided.

No person can ever claim to be totaly balanced in their views, but one can at least try to read as wide as possible to see the wider picture as you say. By making challenging statements one can sometimes get people to think outside their comfort zone.

[gemini81]

Think that you should read my answer to Bearboxer. But I agree the banks are controlling many events in the world. There are however a difference the banks in China and Russia is not run by the same people in the rest of the world. Thailand is closely linked to China, so is Malaysia and Singapore. These countries big businesses are run by people from Chinese desent. There is no more west and east, there is however a club/group which is based in the "west" but also control events, people. governments and corporations/banks in the rest of the world. The most important thing they however control is the media. By controlling the media they control the perception of the people. Many people don't look further than the mainstream media for news and thus their perceptions becomes one sided.

No person can ever claim to be totaly balanced in their views, but one can at least try to read as wide as possible to see the wider picture as you say. By making challenging statements one can sometimes get people to think outside their comfort zone.

When confronted with alternative media, backed up by facts, records and documents, stepping outside the comfort zone has become a need for me. If you can access it, or through a proxy server, it i also interesting to obtain media on events in Thailand which the press don't or won't dare to cover here

. You may be a small blip on the radar, but I taking the info and finding plans to preserve your family, friends and keep others informed is about all you can do. I like the challenging, if not startling facts you sometimes uncover when you look beyond the (alleged 97%) of media run by golman sachs, morgan etc. You can look back at the mainstream media and see there is a real political push to get you to operate as a zombie and depend on what they tell you to do, and to follow it.

[rotary]

The USA has been bankrupt for years. Better to realize it now than kick the can down the road again. Obamacare is the worst idea to come along since the Social Security system which is circles outside govt is known as a Ponzi Scheme.