Thai poll shows household debts the worst in nine years

[kimamey]

From the figures in the OP, with 74.8% seeing increasing debt and 25.2% having no debt, it seems that not one household has seen a reduction in debt....other perhaps than a reduction to zero debt.

Is this just the way the figures are shown, or does it tell us that the debtors are getting more rash, whilst the more careful avoid debt completely..

I noticed that as well. I assumed it was just odd figures picked out at random from the survey.

[gemguy]

All relative to rampant consumerism and should be no surprise to anyone.

Question is: How does or would Thai society in general cope with massive public debt owed to all the various creditors and money lending institutes that have grown substantially in the last 30 years.

What percent of the Thai people owing money would attempt to pay back the money verses how many would try to ignore their debt problem and how many would run...so to speak.

[Cypress Hill]

My household debt is zero Baht, although I'd argue that my household expenditure is much higher than that of the average Thai household (granted, I also earn a bit more than the local average, but not much).

But I manage my income carefully, don't buy stuff I cannot afford, don't engage in impulse buying, save for a few months if I think I need this or that new gadget, don't splurge half of my paycheck on a night out on the town as soon as I've cashed it - oh, and yes, I never, ever, ever, ever borrow money from anyone. I sleep well at night.

Sorry mate but no one's going to pin a medal on your chest or any of the other planks who felt absolutely COMPELLED to tell everyone how prudent they are with their money.

Obviously there are lots of Thais who are less than judicious with their borrowing/spending but when ostensibly relatively well-educated Western men get on a plane to fly 8,000 miles to buy land, property and cars in the name of a woman with the equivalent of a 4th grade education they can barely communicate with, one DOES have to question which group - Thai or Westerner - has more of an excuse for their financial stupidity

Also here no debt, Got my land and house in Thailand....or my wife does

Edited July 26, 2014 by Cypress Hill

[AnotherOneAmerican]

Sorry mate but no one's going to pin a medal on your chest or any of the other planks who felt absolutely COMPELLED to tell everyone how prudent they are with their money.

Would like to point out most foreigners can't get credit in Thailand.

Planks aren't prudent, planks are denied credit.