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What would happen to you and to Thailand if we have a crash like the 2008 crash?

Digitalnomade
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smokie36 Star Member

smokie36

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Posted

A Thai crash would be OK for me thanks!....150 Baht to the Scottish haggis please....;-)

Is it really true that there is a such a beast as a 'Haggis Pizza' ? ... w00t.gif

.

I have devoured one along with a certain member who shall not be named.....visit Glasgow and we might have to order three.....I saw in the Black,Swan that you're a greedy bugger.....lol

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chrisinth Ruby Member

chrisinth

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

  1. the 2008 crash didnt touch me. in fact I made a bundle on it! and i will again if it happens

Same, same. I didn't even notice a crash in 2008. I do remember it in 1997 though when we were getting around 90 baht to the British pound.

If your income comes from overseas during a crash, then you are going to win. I don't understand the OP's reference to pensions gone.................rolleyes.gif

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Time Traveller Platinum Member

Time Traveller

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Posted (edited)

There wasn't a crash here in 2008. The Asian Economic crisis was back in 1998. The asian curriences have been getting stronger for the last 10 years not weaker.

From the SET website (http://www.set.or.th/en/market/files/Eco_Eng.pdf):

"The global financial crisis caused securities indices worldwide to plummet. In Thailand, the SET Index and

SET market capitalization dove over all of 2008 by 48% and 46%, respectively. These drops included those of

the mai Index and mai market capitalization by 40% and 42%, respectively.

By end-2008, the SET Index closed at 449.96 points, a decrease of 48% from 858.10 points as at end-2007.

The index3s highest point was 884.19 and its lowest was 384.15....."
If a 48% decrease is not a crash, then I don't know what is.
zeichen, you've embarrased yourself here on this forum and shown the world you are a complete idiot. Please stop posting any further lies or false versions of history.
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Naam Star Member

Naam

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Please give me another stock market crash like we had in '08. I was buying quality stocks for 1/2 price and they've recovered.

Please give me another housing crash so I can buy more rentals.

I wish gold would go to $100.

I wish baht would go to 100 to the dollar.

Anything else on your wish list?

A yacht.

a Learjet and a helicopter for my yacht laugh.png

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krisb Ruby Member

krisb

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Please give me another stock market crash like we had in '08. I was buying quality stocks for 1/2 price and they've recovered.

Please give me another housing crash so I can buy more rentals.

I wish gold would go to $100.

I wish baht would go to 100 to the dollar.

Anything else on your wish list?

A yacht.

a Learjet and a helicopter for my yacht laugh.png

And a girl called Pussy Galore who makes martinis and pours Weienstepner.

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Naam Star Member

Naam

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Posted

Please give me another stock market crash like we had in '08. I was buying quality stocks for 1/2 price and they've recovered.

Please give me another housing crash so I can buy more rentals.

I wish gold would go to $100.

I wish baht would go to 100 to the dollar.

Anything else on your wish list?

A yacht.

a Learjet and a helicopter for my yacht laugh.png

And a girl called Pussy Galore who makes martinis and pours Weienstepner.

two girls please wink.png

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fletchsmile Platinum Member

fletchsmile

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Posted

For me, probably similar to the 1987 crash, 1997 crash, 2008 crash: some of my investments go down in value. Then a while after they start going up again :)

Over the years, I've diversified more - so the impacts are less severe, and hold more in cash to weather the storms for longer while things recover. What you need to avoid is a position where you have to cash in your investments just after the crash. That's why you diversify and why you hold cash to see you thru.

I suspect Thailand will muddle thru as it usually does to

Cheers

Fletch:)

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rgs2001uk Ruby Member

rgs2001uk

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In the 97 crash most Thai people did not suffer much, they had little to start with and still had little. The middle class were a different story, all of a sudden the ever present Johnny Walker Black bottle at night entertainment spots disappeared.

I dont know where you were, I was in Prakanong.

4 dept stores closed, all the workers laid off.

All the ancillary stores outside such as food vendors, tailors, watch repairers, all lost their jobs.

The Issan farmers who had sold their land had nowhere to go back to, many of them were living under flyovers such as Sam Rong, or beside klongs.

Yes I remember it well, Bkk Post full of adverts from farang chancers looking to buy speed boats and luxury cars.

I remember a niece securing a job and having no clothes to wear, I bought her 5 skirts and blouses and 2 pairs of shoes.

I remember the BIL being told to take a 40% cut in wages, and if he didnt there were others willing to take a 50% cut just to stay in a job.

Personally I find the whole idea of mocking this effin disgusting, unless you were here you wont have a clue.

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MJP Diamond Member

MJP

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Posted (edited)

In the 97 crash most Thai people did not suffer much, they had little to start with and still had little. The middle class were a different story, all of a sudden the ever present Johnny Walker Black bottle at night entertainment spots disappeared.

I dont know where you were, I was in Prakanong.

4 dept stores closed, all the workers laid off.

All the ancillary stores outside such as food vendors, tailors, watch repairers, all lost their jobs.

The Issan farmers who had sold their land had nowhere to go back to, many of them were living under flyovers such as Sam Rong, or beside klongs.

Yes I remember it well, Bkk Post full of adverts from farang chancers looking to buy speed boats and luxury cars.

I remember a niece securing a job and having no clothes to wear, I bought her 5 skirts and blouses and 2 pairs of shoes.

I remember the BIL being told to take a 40% cut in wages, and if he didnt there were others willing to take a 50% cut just to stay in a job.

Personally I find the whole idea of mocking this effin disgusting, unless you were here you wont have a clue.

I've heard similar first hand accounts from other expats there during and after the Tiger crash. Really desperate, heartbreaking stuff. Lot of child beggars, homelessness and starvation. People just don't know or simply do not care.

I mean Thailand's bad at the best of times. Imagine what it's like during a serious recession and monetary system collapse.

So no, not really wealthy expats. You might get more for your imported fiat currency but it would not be a country you'd want to live in.

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rgs2001uk Ruby Member

rgs2001uk

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^^^^^,

MJP, I know for many on here it will be hard to believe, but even for a cynical prick like me it was heartbreaking.

Every year on my birthday there is a bottle of whisky turns up on my doorstep from a niece (I have told her to stop it but she wont listen), a happy go lucky young kid who only wanted a bicycle, parents couldnt afford one.

Went to the market at Prakanong and bought one for about 900 baht, made that kids day, streamers and all the other crap hanging off it.

F F S I almost want to cry when I think of that young girls delight, money cant buy you those priceless moments.

Another friend sold me his Chinese gold rimmed dinner service, he and his mrs were reduced to selling food outside their house.

A few years ago at one of their wedding anniversaries I gave the dinner service back to them, they couldnt believe it.

Another friend I used to play snooker with wont let me pay any money (these days), he says, you didnt throw me and didnt forget me.

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MJP Diamond Member

MJP

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Posted

^^^^^,

MJP, I know for many on here it will be hard to believe, but even for a cynical prick like me it was heartbreaking.

Every year on my birthday there is a bottle of whisky turns up on my doorstep from a niece (I have told her to stop it but she wont listen), a happy go lucky young kid who only wanted a bicycle, parents couldnt afford one.

Went to the market at Prakanong and bought one for about 900 baht, made that kids day, streamers and all the other crap hanging off it.

F F S I almost want to cry when I think of that young girls delight, money cant buy you those priceless moments.

Another friend sold me his Chinese gold rimmed dinner service, he and his mrs were reduced to selling food outside their house.

A few years ago at one of their wedding anniversaries I gave the dinner service back to them, they couldnt believe it.

Another friend I used to play snooker with wont let me pay any money (these days), he says, you didnt throw me and didnt forget me.

Regardless of race and colour it's so much better when the 99% (that's you and me and everyone else here) stick together and help each other. Worldwide.

Poverty and suffering has a serious effect on me. I remember crossing at Poi Pet one night, just made it as it closed at 8pm back then. There were all these kids, destitute. I remember as vividly as right now one little girl, must have been no more the five years old just stood there screaming into the darkness.

It haunts me to this day and still causes me to literally burst into tears. I've seen plenty of suffering in my time, but for some reason this one is always with me.

To see the posters on here rejoicing any possible minor vain benefit to themselves as the indirect result of the suffering of others seriously makes me wonder what sort of people they are.

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Berkshire Ruby Member

Berkshire

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Almost all the foreigners in Thailand are financed from overseas.

A big crash means we all have double our money to spend.

I think that's the point of this thread. The OP is predicting (read hoping) that the old folks who reside in Thailand will see their government entitlements go bye-bye if there is another major financial crisis. It's sort of his payback for the visa crackdown...or something along those lines. Unfortunately for the OP, most of us have got our financial ducks in a row and are pretty immune to that sort of stuff. Yes OP, the USA may go bankrupt some time in the future. But not in my lifetime.

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mccw Platinum Member

mccw

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Wouldn't be too bad for me.

Gold and silver bought at prices less than half of current spot rates. Held in vaults in Hong Kong and Geneva. Nothing in London vaults

Did you go to HK and G yourself, did you see the gold with your own eyes?

Saw the same gold they showed every other sucker

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