Nod to Bt20 bn partial payout to rice farmers

[holeyman1]

I have never gotten an email, text message, phone call or fax regarding

who was getting paid and how much

if payment is not in full?

With all this bs about having money

& not being able to pay squarely

because of the protest is nothing

more than simple bs!

Now, dipping into 'reserves?'

Pray tell, WHO's picking up the tab?

Certainly NOT the next PM...!

somtam palah

[ikurauni]

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Thailand is heading into a financial crisis after this non-working rice scheme. Investment risks with Thailand is even higher than the risks of the neighboring countries.

It is important that the farmers get paid even it is a partial payment. We don't want them to come to Bangkok to close the airports.

However the government should pay them in full ASAP.

The government can print the money just like China does.

Baht has been strong for the past several years but it will be nice to see US$1 = 40 THB again.

"Investment risks with Thailand is even higher than the risks of the neighboring countries." Patently untrue so far. Reveiwing credit ratings by Standards & Poors, Fitch, and Moody there are no ratings for Mynamar and Cambodia from Fitch and Moody; S&P also has no rating for Mynamar. All three credit rating organizations (CRO's) rate Thailand higher than Indonesia and Vietnam. S&P rates Thailand higher than Cambodia. Fitch rates Thailand equal to Malaysia while S&P and Moody rate Thailand one level lower than Malaysia.

Thailand like every country in the world can print money; but like every country it does so through the backing of proceeds from the sale of treasury bonds, in essence proceeds are borrowed funds that must be paid back to bond holders with interest. The interest rate is influenced by CRO ratings and in turn affected by the percent of debt to Gross Domestic Product.

Using the ratings of the financial rating companies is one of the ways to judge the financial status. However, the ratings are based on the data from yesterday and do not accurately indicate the status for today and tomorrow. I have seen many ratings that did not indicate the accuracy especially for the financially troubled institutions went down the tube. By the time these ratings are degraded, it is too late for the investors to react. You can use the financial ratings as one of the useful tools but can’t rely on solely to make a judgment.

As a matter of fact, some of the major manufacturing companies in Thailand are seriously considering about leaving or branching out from Thailand. It can cause some impact to Thai economy.

How many crisis have we had since 2008?

We had the yellows occupied the airports, riot by the reds, mega flood and the current PDRC. Whether or not the flood is considered as a pure result of the natural disaster is another subject, but we have more than enough crisis already. Some major investors are looking for elsewhere to invest.

One of the risks in Thailand is Thai people. They are unreliable. The corruption has been there and will be there no matter what. Under the table deals are everywhere. They tend to be lazy. Whether or not they are educated, many people are irrational and illogical. Perhaps, the similar things can be said about the neighboring countries, but if you look at the current crisis, it explains the character of Thai people.

I agree with your comment about the printing money but do you think that China is doing it?

Sometime, I am not sure about the US either. China is said to have a huge problem with respect to the debt on their housing development. I wonder how they resolve the debt.

Perhaps, more printing? Basically, most of us outside of China don’t know what China is doing.

[ponchi]

cannot be !!

we have to block the payment to the farmer.

because we need the farmer for the government go out.

if the farmer is angry.

yingluck is BYE !!

Until they read the buffalo excrement that you write and instead the FARMERS come to Bangkok and kick you out of your nice house and live there... You MUST be a troll.

Any one with HALF an education just would NOT POST the buffalo thoughts that you do!

i think you go back with thaksin is the bufalo belong !!

not talk about my country and the rice problem so much you dont know about

Edited February 26, 2014 by ponchi

[Balance]

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This was all tried before and the EC rejected it, then we get a week of public threats to sue the EC for various issues relating to the fail elections that the government have a huge hand in that matter.

Obviously a prelude to forcing a positive decision out of the EC. This is what their answer is to the farmer problem?

The EC has allowed the government to spend Bt712 million from the central budget to make overdue pledging payments to 3,971 farmers in five provinces: Chachoengsao, Prachin Buri, Uthai Thani, Phetchabun and Ayutthaya.

So these were all the farmers that were on their way to swampy airport last week.

So there we have a strong message going out to the remaining of the 1.4 million farmers.

If you want your money, take the airport.

This government are making a rod for their own backs constantly and then blaming everyone else when it goes wrong time after time. I hope the EC tell them they can't do it, and as far as the bonds are concerned, I doubt they would fetch 5 Bn, they are as worthless as the farmer's vouchers.

Print more money? Have you any idea of the fallout from doing that? The USA may do it, but they have the finest economical minds on the matter and they know how to offset the effects of it. Does Thailand have anyone of any caliber to be able to run fiscal system to recover?,,, they are hardly of the mentality of 'best man for the job'... They only have nepotism, cronyism and cash for favors that put bums on seats, never do they go for the best person for the job which is why everything here is a complete mess.

Thailand does have Mr White Lies!

I have to say claiming the US has the 'finest' economic minds is a bit of a stretch, the US (western) banking system is also completely screwed up and utterly corrupt. However Thailand is just plain incompetent.

There is little doubt that few in this government or the last one know much about governing. But, the real issue is the lack of political will to fix the problems. assuming that the cost structures presented have been equalized so that this is an actual comparison, why hell should it cost a Vietnamese rice farmer HALF as much to product one ton of rice? I am also assuming that we are talking about Jasmine rice growers.

If the cost of producing a ton is 9,700 THB, then that is about 2,000 thb more that world market prices. HELLO!!! How much does anyone what to bet that the rice millers and other middlemen also control the distribution and sale of fertilizers and pesticides? How about a breakdown of the input costs. No one wants to solve the problem, full stop.