Thai economy 'close to recession': KResearch

[dannyshin]

and they will blame everything one some people closing some few streets in bangkok, or mismanagement of funds & corruption ?

Do you know big contribution Thai economy from farangs who marry Thai women, pay sin sods (Even though most of these women are separated and have kids), pay for house, cars and family etc. Millions bahts. I think since many farangs learned about Thai women, they avoid mistakes of dating or marrying in Thailand.

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[TinoThailand]

Welcome to the club. When people lose everything and got nothing left to lose. "They lose it" All over the globe people get squeezed out by the banksters. We are more far down the line then in 1929/1930 and it's the same institution that's creating it. The same media lies.

[Pib]

With all of these repossessed cars, why are second hand autos almost as expensive as the new ones? They not only don't obey the rules of supply and demand, they also are impervious to depreciation. You're better off buying a new car. If they paid 750,000 for it 6 years ago, by god it's still got to be worth 680,000 today. And why can I buy almost 3 brand new turbocharged Minis Cooper Ss in the USA (Starting at $24,000 x 30 = 720,000 Baht) for the price of a new Accord 2.4 (1.9 million baht) in Thailand? And the Mini, without turbocharger, costs almost twice that!

Simple...the govt excise/import/luxury taxes applied to vehicles...and those are even before the 7% VAT. Not uncommon for a new car sold in Thailand to carry around 30% in govt excise/import/luxury taxes...and if its a luxury car like a Mercedes then the tax can be a 100% or more. Once those taxes are initially applied they pretty much hold-up the used car prices also. Yeap, car prices in Thailand are HIGH in comparison to many countries.

[SICHONSTEVE]

and they will blame everything one some people closing some few streets in bangkok, or mismanagement of funds & corruption ?

Do you know big contribution Thai economy from farangs who marry Thai women, pay sin sods (Even though most of these women are separated and have kids), pay for house, cars and family etc. Millions bahts. I think since many farangs learned about Thai women, they avoid mistakes of dating or marrying in Thailand.

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

Speak for yourself!!

Marrying my Thai wife is the best thing that has ever happened to me.

[Pib]

With all of these repossessed cars, why are second hand autos almost as expensive as the new ones? They not only don't obey the rules of supply and demand, they also are impervious to depreciation. You're better off buying a new car. If they paid 750,000 for it 6 years ago, by god it's still got to be worth 680,000 today. And why can I buy almost 3 brand new turbocharged Minis Cooper Ss in the USA (Starting at $24,000 x 30 = 720,000 Baht) for the price of a new Accord 2.4 (1.9 million baht) in Thailand? And the Mini, without turbocharger, costs almost twice that!

Simple...the govt excise/import/luxury taxes applied to vehicles...and those are even before the 7% VAT. Not uncommon for a new car sold in Thailand to carry around 30% in govt excise/import/luxury taxes...and if its a luxury car like a Mercedes then the tax can be a 100% or more. Once those taxes are initially applied they pretty much hold-up the used car prices also. Yeap, car prices in Thailand are HIGH in comparison to many countries.

Edit: an example: right now my sister in the U.S. is getting ready to buy a new car...one of the two she is looking at is a 2014 Honda CR-V for approx $29,000 (not the cheapest or morst expensive model); here in Thailand a 2014 Honda CR-V middle of the range EL 2 WD model costs $1.448M baht which is apporx $45,280 which is 56% more than the U.S. cost. Yeap, car prices in Thailand are HIGH! Even if the govt would offer a Bt100K tax refund again the govt is still making a lot of tax after giving 100K of it back...except they can't even seem to do that now. Sure hope the govt is putting the excise/import/luxury taxes they apply to good use (giggle, giggle).

[Genericnic]

I think if they outlawed and imprisioned corruptive people that would solve the recession problem... there would be plenty of money to go all around to shore up the economy

The boom in spending for prison construction alone that would be necessary would lift the economy out of any recession.

David

Edited April 17, 2014 by Genericnic

[diehard60]

Thank you oh supremeo suthep you have done a great service to thailand.

[diehard60]

It's already in a recession:

1. Rice pledging Scam

2. Tablet Scam

3. Flood scam

4. Tourism scam

The list goes on, but the people in power don't give a damn...

Oh yea by the way - the rice scam? origanaly atrted with abhisit and suthep. The flood scam was with sutheps people.

[eddie61]

I am lucky to work in a job that is recession proof.

are you a hooker?

[Donk]

Congratulations! Then you are one of 100,000<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

and they will blame everything one some people closing some few streets in bangkok, or mismanagement of funds & corruption ?

Do you know big contribution Thai economy from farangs who marry Thai women, pay sin sods (Even though most of these women are separated and have kids), pay for house, cars and family etc. Millions bahts. I think since many farangs learned about Thai women, they avoid mistakes of dating or marrying in Thailand.

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

Speak for yourself!!

Marrying my Thai wife is the best thing that has ever happened to me.

[cpofc]

Not exactly earth shattering news. Look around.

Here, in the real world of Thai (Bangkok) Suburbia I have had three direct marriage proposals in as many weeks, plus a couple of tentative ones. None of these women work in Bars, Karaokes, etc. either.

[SICHONSTEVE]

Thank you oh supremeo suthep you have done a great service to thailand.

I agree, he has saved Thailand from dictatorship through his actions!!!

On the other hand - Yingluck (read Thaksin) has single-handedly put Thailand's future in peril with his selfishness and aspirations of further enrichment through fraud and corruption at the ordinary peoples expense.

I am surprised that you hold Suthep in such esteem diehard60, I didn't know you was such a fan of his - have you seen the light??

[SICHONSTEVE]

It's already in a recession:

1. Rice pledging Scam

2. Tablet Scam

3. Flood scam

4. Tourism scam

The list goes on, but the people in power don't give a damn...

Oh yea by the way - the rice scam? origanaly atrted with abhisit and suthep. The flood scam was with sutheps people.

The rice scam started with Thaksin, it was his brainchild. The Dem's had a much worthier rice scheme that cost a fraction to administer and benefitted the right people (they even admitted to this) just before the last completed election!!!

Can you explain your piece about Suthep's peoples flood scam because I think you are talking utter BS!!!!

[kurnell]

I am lucky to work in a job that is recession proof.

are you a hooker?

I was a winger once

[leggo]

Whatever the analysts say they are usually way behind. Thailand is in recession already. You don't have to be a genius to work it out. Incredibly high personal debt, businesses closing everywhere, shopping malls where the staff have gone to sleep, litterally! And tourist figures way down and no govt spending! And what we are seeing is just the beginning.

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[bigbamboo]

Some one needs to explain to Thai politicians the inherent flaws in forming a circular firing squad.

But not if it's politicians who are doing the firing...!

[harkish]

Funny to have two articles so close together on the Thaivisa news page pointing in such different directions. One, that Bangkok Bank says the economy is going great, this other that things are really in the dumps. Which one should I believe... .hmmmmm....

[tullynagardy]

http://www.forbes.com/sites/jessecolombo/2013/11/04/thailands-bubble-economy-is-heading-for-a-1997-style-crash/

Almost a year to the day I posted this on here (long before the political problems) and was laughed at by many. Sadly its already coming to fruition having been sped up by Suthep and the ensuing political problems hes caused. As someone who lost alot of money in both Ireland and Spain following similar bubbles in the noughties its as plain as the nose on your face where Thailand is. Wreckless lending by banks, encouraged by a naive government seems very familar.

In the part of Issan my wife hails from we have had a building boom and the new shopping malls, car dealerships, restaurants that go with it for years. Yet with no tangible increase in industry or underlying wealth its always been clear what was fueling this was just credit. This whole area of Buriram has been reconstructed with tidy new homes, all funded by banks, and a spate of repossessions is sure to follow when the shit hits the fan. I think anyone buying property anywhere in Thailand now needs their head examined.

What Thailand urgently needs is a government in place that will be fiscally responsible, yet make the necessary spending in infrastructure to boost growth. It also needs checks on the banks to stop wreckless lending. Sadly both PTP and the Dems are inept at these issues and it ties in with my other posts we need a new poiltical party to emerge.

The fundamentals of the Thai economy are still good. Its debt to GDP ratio is under 50% and its heavily export driven in a world economy that is picking up. All is not lost, but it needs action now and with the political deadlock we currently have this cant happen.

[IamNoone88]

When you run your own business here, you know when you are in recessionary period or not and we are. Unemployment is up as well - I have contributed to that statistic thanks to the mob in Bangkok. Lets see what the MOM has to reveal. I expect the major BOI investors are pretty hacked off with the fine mess they also find themselves in as well.

[DrTuner]

So SET +15% and THB at least 5%. If the moon drops from the sky and hits Thailand, multiply by 10. It's a parallel universe with negative correlation in here.

Last time I saw that was just prior to the <deleted> hitting the fan in -08. I wonder who's over leveraged this time.

[ginjag]

When you run your own business here, you know when you are in recessionary period or not and we are. Unemployment is up as well - I have contributed to that statistic thanks to the mob in Bangkok. Lets see what the MOM has to reveal. I expect the major BOI investors are pretty hacked off with the fine mess they also find themselves in as well.

It's been on the downward move for 3 years now, I take it you were blaming Suthep ??? you see there is not many more things people can lay the blame on.

Without him on the scene people believe everything was O.K. BUT IT WASN'T.

[thailiketoo]

So SET +15% and THB at least 5%. If the moon drops from the sky and hits Thailand, multiply by 10. It's a parallel universe with negative correlation in here.

Last time I saw that was just prior to the <deleted> hitting the fan in -08. I wonder who's over leveraged this time.

You and me both. I got this little app on my desk top that tracks the SET and THB. They ain't going down boys?

When is that gwine ta happen?

Congrats though for all of the new posters on this thread. Ya all sure have learned a lot fast.

[rafish]

I am lucky to work in a job that is recession proof.

Oh my god

your an undertaker

So close it's not funny

Cop!

[dannyshin]

I am lucky to work in a job that is recession proof.

Oh my god

your an undertaker

So close it's not funny

Cop!

No difference both same

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[waynerooney]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Recession? what recession? Go tell that to the 40,000 + people who had placed orders for new cars at the last car's show..

Be a different story when they have to make their payments

[thailiketoo]

Oh my god

your an undertaker

So close it's not funny

Cop!

No difference both same

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

They don't use undertakers in Thailand!

[Pui]

The title say

Thai economy on blink of recession

Don't they mean "brink" of recession?

[MrY]

The title say

Thai economy on blink of recession

Don't they mean "brink" of recession?

Thai economy is "on the blink" (as in "not operating properly")

and

Thai economy is "on the brink of" recession (as in "not far from entering")

[trainman34014]

The scabby hulk of Thailand sails on, leaking at the seams and weighed down by holds full of rotting rice. The Captain and executive officers are in 'Caretaker' mode, but for how much longer will the bridge be manned ? The Pirate Long John Suthep and his band of desperado's await just over the horizon, where the 'Final', 'Final Victory' must occur before the hulk sinks without trace under a turbulent sea of Red and Yellow swill !

[Gonsalviz]

Im in business here, I can tell you we already are.

I knew the USD couldn't be that strong.