Foreigners pull money out of Thai stocks and bonds

[PeterSmiles]

Don't know if this is the place to ask but what the heck .

Does anyone know what Thailands overseas reserves stood at when the Dems took office and what they stood at when PT took over?

Also what they stand at now?

Last I read they had dropped $600 million in one week, don't know why that would be.

Thailand Foreign Exchange Reserves averaged 29512.7 USD Million reaching an all time high of 189883.7 USD Million in April of 2011. In May 2011, the Pheu Thai Party nominated Yingluck as their candidate for Prime Minister. The Pheu Thai Party won a landslide victory, winning 265 seats in the 500 seat House of Representatives of Thailand, It was only the second time in Thai political history that a single party won a parliamentary majority.

Why you don't say that the have declined from their all time high under the democats ever since Thaksin Yingluck bought herself a PM position and currently stand at 172087.31 USD Million.

http://www.tradingeconomics.com/thailand/foreign-exchange-reserves

And that they will use a BIG chunk of it to add to the 2.2 trillion loan.

Aaah, those good past times but so afraid of acknowledging of what is looming at the horizon, isn't it ?

Do you think my chart is wrong?

Not at all, it shows a decline since ever since Yingluck took office, but of course it doesn't show the decline it will make if they get the 2.2 Trillion loan approved.

There are reports that they will use 30% of the foreign reserves, but as usual with PTP they never speak out clear, and even the finance minister has aired his fears that they may use a much bigger part.

[thailiketoo]

Not at all, it shows a decline since ever since Yingluck took office, but of course it doesn't show the decline it will make if they get the 2.2 Trillion loan approved.

There are reports that they will use 30% of the foreign reserves, but as usual with PTP they never speak out clear, and even the finance minister has aired his fears that they may use a much bigger part.

What percent has it gone up since 2004?

Edited November 17, 2013 by thailiketoo

[PeterSmiles]

Not at all, it shows a decline since ever since Yingluck took office, but of course it doesn't show the decline it will make if they get the 2.2 Trillion loan approved.

There are reports that they will use 30% of the foreign reserves, but as usual with PTP they never speak out clear, and even the finance minister has aired his fears that they may use a much bigger part.

What percent has it gone up since 2004?

You're right once again, it has risen significantly since 2006 when Thaksin was ousted by a coup, to fall back a bit again early 2008 when Thaksin PPP cronies were in power, but rose to it's record high once the Democrats came in power. Unfortunately that was once again reversed as soon as the man from afar came back in power, and will be heavily reduced very soon if this puppet circus stays in power.

I have no doubt that you understand the importance of foreign reserves.

[thailiketoo]

Not at all, it shows a decline since ever since Yingluck took office, but of course it doesn't show the decline it will make if they get the 2.2 Trillion loan approved.

There are reports that they will use 30% of the foreign reserves, but as usual with PTP they never speak out clear, and even the finance minister has aired his fears that they may use a much bigger part.

What percent has it gone up since 2004?

You're right once again, it has risen significantly since 2006 when Thaksin was ousted by a coup, to fall back a bit again early 2008 when Thaksin PPP cronies were in power, but rose to it's record high once the Democrats came in power. Unfortunately that was once again reversed as soon as the man from afar came back in power, and will be heavily reduced very soon if this puppet circus stays in power.

I have no doubt that you understand the importance of foreign reserves.

Your opinion and a couple of hundred baht will buy a cup of coffee at Starbucks. Looking at the chart you don't need a weather man to tell which way the wind is blowing.

[PeterSmiles]

Not at all, it shows a decline since ever since Yingluck took office, but of course it doesn't show the decline it will make if they get the 2.2 Trillion loan approved.

There are reports that they will use 30% of the foreign reserves, but as usual with PTP they never speak out clear, and even the finance minister has aired his fears that they may use a much bigger part.

What percent has it gone up since 2004?

You're right once again, it has risen significantly since 2006 when Thaksin was ousted by a coup, to fall back a bit again early 2008 when Thaksin PPP cronies were in power, but rose to it's record high once the Democrats came in power. Unfortunately that was once again reversed as soon as the man from afar came back in power, and will be heavily reduced very soon if this puppet circus stays in power.

I have no doubt that you understand the importance of foreign reserves.

Your opinion and a couple of hundred baht will buy a cup of coffee at Starbucks. Looking at the chart you don't need a weather man to tell which way the wind is blowing.

You seem to be a smart man, you're right once again. Easy to see where it's going. The red line starts at the point in time where Thaksin Yingluck took power.

[thailiketoo]

Your opinion and a couple of hundred baht will buy a cup of coffee at Starbucks. Looking at the chart you don't need a weather man to tell which way the wind is blowing.

You seem to be a smart man, you're right once again. Easy to see where it's going. The red line starts at the point in time where Thaksin Yingluck took power.

chart.jpg

Red ink means a loss and looking at the chart all I see is black ink up a couple of hundred percent since 2004.

[Thai at Heart]

Since you are unable to answer I will

Foreign debt per capita USA, $52,170 (http://en.wikipedia.org/wiki/List_of_countries_by_external_debt)

Foreign debt per capita Thailand, $1,292

Ok, could you also please tell us as a comparison what the income per capita and standard of living is in the USA compared to Thailand ?

Unemployment Thailand, 1%

Unemployment USA, 14% (http://www.forbes.com/sites/dandiamond/2013/07/05/why-the-real-unemployment-rate-is-higher-than-you-think/)

Told you already that unemployment figures are calculated from the people that receive unemployment benefits ( where are those in Thailand ? ), or from the people that are looking for work. Do you really think that the men who flood the snooker halls in Pattaya and Isaan and have a " sister" working in walking street, are looking for a job ? A Thai lives from day to day, as long as he has food why should he look for a job. Ever been to Isaan by any chance ?

USA failed banks 2008 to 2012: 465 (http://en.wikipedia.org/wiki/List_of_bank_failures_in_the_United_States_%282008%E2%80%93present%29)

Thai failed banks 2008 to 2012: 2

You forgot at the at least 3 banks that are currently on life support, and of course don't forget the bottomless agriculture bank.

How many banks failed in the USA prior to 2008 when the ? I guess it was less than 2, because they were all doing golden business cheating and lying to their clients. Oh by the way, I doubt that Thailand even has 465 banks, so difficult to make a comparison.

USA and Thailand have nothing in common.

If I look at the banks and thousands of lending companies and pawn shops in Thailand, who all do a roaring business , then i think Thailand has a lot of common with the USA in 2007.

Soon they will have a lot in common with the USA from 2008 till date.

Thing is, banks don't give a s**t what your standard if living is.

The USA has a wopping amount of debt per capita, and Thailand has less. So, why should Thailand have a financial crisis before the USA?

[TTom911]

Most of these references to "high-powered statistics" is little more than smoke...

If there is ANYTHING the recent financial crisis has taught is that it is that "if you can not trust the ASSUMPTIONS on which the numbers are based, then you don't even look at those numbers/statistics" in the first place !!!

Up and until the eave of the financial crisis in 2008 almost all the big shots told the entire world that "all is just fine" coz THEY BELIEVED (or, many of them, rather mislead people) that these mortgage backed securities were worth the money printed on them. No, they weren't, as we all learnt. Coz the assumptions were wrong, people believing that those mortgages were pretty much "risk free" while in fact they were highly risky/toxic. It got so messy that ultimately neither the banks all over the world nor the governments had for months on end no clue what their exposure was... So much to reminding ourselves about a very recent (still continuing) experience...

Now, look at the Thai reality where

- almost all house loans are financed at 110% or more (with full knowledge of the banks all across the country, which means that this is "politically sanctioned", even "desired")

- loan applications are based on "bank statements" which are routinely faked in a way that it can be spotted in less than 30 seconds easily (but then, this happens with full knowledge of the banks as well, which is also impossible unless it is politically sanctioned...)

- do we want to discuss the reality of the "accounting practice" of most company's...?

Thailand is playing this risky risky game of "advancing through credit" rather then increased competitiveness, productivity, assets produced. "If you cant give the people real progress, giv'em some credit(cards) and let them deal with it tomorrow" is the motto...

All of these "statistics" referred to here need to be read with this knowledge in mind, which means that in all likelihood the "real reality", the one "beneath the statistics" is likely to be is MUCH different. To me there is the starkest resemblance of what happened up and until 2008: Everyone believes, is actually bound to believe because it's for many "too late" already, that the music will keep playing.

Let's hope we are more lucky with Thailand than we were globally in 2008... But no one shall say that there are "no signs", that "nobody knew" while closing eyes...

Edited November 18, 2013 by TTom911

[Thaddeus]

You can't take a chart belonging to another company and forge it. I think that is against forum rules. So I stop posting with you here. Bye.

Quite right, so let's look at the chart from SET itself.

http://www.set.or.th/en/market/setindexchart.html

Six months ago the index stood at around 1,630, way higher than the 1,165 a year earlier.

It is now (and now is the only thing that is relevant) at 1,424, it has lost almost half of what it had gained.

I wonder what the next six months will bring.

[Rooo]

Bickering posts removed. Can we keep it civil please.

[Scott]

An off-topic, nonsensical group of posts and replies have been deleted. Please stay on topic.