Poll shows most Thai people admit they don't earn enough to cover expenses

[TVGerry]

Could all the condescending know-it-all members that posted before me, please use your wisdom and give us a viable breakdown of 9000 baht (unskilled labour...zero days off) or 14000 (uni. graduate) over a 30 day period in Bangkok. Please, share with us how you would make it through the month

Yeah right, under which stone do you live mate?

In BKK the uni-grade employee's get like 60-90k a month plus bonus. Yes they have to work for that and can't do nothing all day long.

Haha 60-90k a month for a uni grad! Under which stone do YOU live?

Edited January 27, 2015 by TVGerry

[Godders]

Welcome aboard the world of usury, where only three dollars, pounds or baht in every 100 is backed by a tangible asset. The rest is funny money printed for debt slaves the world over who are as daft as those silly, shop till you drop Thais.

Like my old gran used to say, there's now't as daft as folk.

[trogers]

80% of the countrys G.D.P. Is personel debt. Recipe for disaster!

Like the US who got up to 94% a few years back, safely back down to 77% now though!

No doubt through debt write off.

[metisdead]

An inflammatory post has been removed. You have every right to express your opinion about the topic. You may disagree, but it must be done in a civil manner.

[aimbc]

If they would take their jobs more serious and try to actually perform, instead of sitting

around playing games, chatting, and not giving a shit about anything, may be than

businesses in Thailand would not need to hire twice as many workers than in the west,

and they would get a better salary ...

Take away their smartphones and they would have 8 hours more per day to do something else...but I don't know if they would fill any of that 8 hours with work.

But even the ones who have their own shop don't give a dime about customers, Line is far more important then making money. If i have to wait for that then i'm off and will never return to them.

To be fair, Line it's the new sales tool. They just have to figure out how to balance that.

[kieran2698]

80% of the countrys G.D.P. Is personel debt. Recipe for disaster!

Like the US who got up to 94% a few years back, safely back down to 77% now though!

No doubt through debt write off.

No, most types of household debt are actually up, it is only mortgages that are down and they are down enough to have reduced all household debt by 15% since 2008. The reduction is not due to writing off debt but down to people paying their mortgage whilst being refused more credit. If the US continues to follow this trend then their household debt to GDP ratio will be sustainable within two years, another success for the Nordic Model.

[trogers]

80% of the countrys G.D.P. Is personel debt. Recipe for disaster!

Like the US who got up to 94% a few years back, safely back down to 77% now though!

No doubt through debt write off.

No, most types of household debt are actually up, it is only mortgages that are down and they are down enough to have reduced all household debt by 15% since 2008. The reduction is not due to writing off debt but down to people paying their mortgage whilst being refused more credit. If the US continues to follow this trend then their household debt to GDP ratio will be sustainable within two years, another success for the Nordic Model.

QE is used to encourage banks to lend out more, to up consumption. When banks refuse extending further credit, and more disposal income are used to pay down mortgages, where is economic growth through consumption? Edited January 28, 2015 by trogers

[mikemac]

Welcome to the reality of the rest of the world. 40% of Australians live below the poverty line. 30% of new zealanders out of work. Living on barely subsistence welfare.

20% of Americans out of work.

--% homeless and --% barely getting by. Most people in the world barely get by. A very few get to be rich. You would be surprised how many thai families still have one stay at home parent. Almost unheard of in the west now. Be grateful.

(WARNING !..............Sarcasm alert !)

Truly amazing statistics ! Please share with us your source, would love to know how you came by these numbers.

[kieran2698]

QE is used to encourage banks to lend out more, to up consumption. When banks refuse extending further credit, and more disposal income are used to pay down mortgages, where is economic growth through consumption?

Why do you look at making mortgage payments as a loss of disposable income?

[trogers]

QE is used to encourage banks to lend out more, to up consumption. When banks refuse extending further credit, and more disposal income are used to pay down mortgages, where is economic growth through consumption?

Why do you look at making mortgage payments as a loss of disposable income?

Available income for consumption is what is left in hand after making mortgage payments. No mention of a loss.

[kieran2698]

QE is used to encourage banks to lend out more, to up consumption. When banks refuse extending further credit, and more disposal income are used to pay down mortgages, where is economic growth through consumption?

Why do you look at making mortgage payments as a loss of disposable income?

Available income for consumption is what is left in hand after making mortgage payments. No mention of a loss.

"more disposal income are used to pay down mortgages" So what did you mean by "more" then?

[trogers]

QE is used to encourage banks to lend out more, to up consumption. When banks refuse extending further credit, and more disposal income are used to pay down mortgages, where is economic growth through consumption?

Why do you look at making mortgage payments as a loss of disposable income?

Available income for consumption is what is left in hand after making mortgage payments. No mention of a loss.

"more disposal income are used to pay down mortgages" So what did you mean by "more" then?

When banks refuse to extend further credit (2nd and 3rd mortgages), a popular way for Americans with real estate to live on credit, there is no extra cash to spend or speculate, and so less disposal income after mortgage repayments.

[kieran2698]

When banks refuse to extend further credit (2nd and 3rd mortgages), a popular way for Americans with real estate to live on credit, there is no extra cash to spend or speculate, and so less disposal income after mortgage repayments.

Disposable income is your salary minus your income tax, nothing to do with your mortgage and certainly nothing to do with how much credit you can get, it is your real income. Perhaps you are thinking of discretionary income which is your income minus taxes and minus all essential and non essential payments such as your mortgage, your household bills and your other spending. Again though, credit is not normally calculated into this as increasing personal debt is not the same as having a larger discretionary income.

[trogers]

When banks refuse to extend further credit (2nd and 3rd mortgages), a popular way for Americans with real estate to live on credit, there is no extra cash to spend or speculate, and so less disposal income after mortgage repayments.

Disposable income is your salary minus your income tax, nothing to do with your mortgage and certainly nothing to do with how much credit you can get, it is your real income. Perhaps you are thinking of discretionary income which is your income minus taxes and minus all essential and non essential payments such as your mortgage, your household bills and your other spending. Again though, credit is not normally calculated into this as increasing personal debt is not the same as having a larger discretionary income.

Credit inflates consumption. During a boom, credit is abound from wealth effect and bank's willingness to lend. Now is payback time and banks refusal to extend credit. So the series of QE is not achieving the target rise in consumption.

Debt write-off would have been better.

[greenchair]

Here's a prime example of Thailand. My partner gets 50,000 baht per month in a government job. She has borrowed against that for the next 20 years. So her salary is now 10,000 baht per month. Everytime her yearly increase goes over 10,000 baht the banks do a nice promotion to all the workers at her office. The banks tell them oh don't worry the interest is very low. With all the loans the bank keep pushing on her. She is paying 20,000 baht per month in interest. She keeps taking the loans because she no longer has enough to live on. My stepdaughter the same. 1st job. 15,000 baht a month. Bank turns up at her office. She borrows 300,000 in her first year of work. Then she didn't have enough to live on. Still paying the money back. Now working in a bar to support herself. The banks should not be allowed to solicit so much money from people. Forcing them to go to the loan sharks to survive. Shocking the way the banks put these young people in debt for thirty years, when they are just out of school.

[kieran2698]

When banks refuse to extend further credit (2nd and 3rd mortgages), a popular way for Americans with real estate to live on credit, there is no extra cash to spend or speculate, and so less disposal income after mortgage repayments.

Disposable income is your salary minus your income tax, nothing to do with your mortgage and certainly nothing to do with how much credit you can get, it is your real income. Perhaps you are thinking of discretionary income which is your income minus taxes and minus all essential and non essential payments such as your mortgage, your household bills and your other spending. Again though, credit is not normally calculated into this as increasing personal debt is not the same as having a larger discretionary income.

Credit inflates consumption. During a boom, credit is abound from wealth effect and bank's willingness to lend. Now is payback time and banks refusal to extend credit. So the series of QE is not achieving the target rise in consumption.

Debt write-off would have been better.

More credit is only a benefit if its given to people who can afford to make their payments. Your idea of just writing off peoples debt and then giving them more would be disastrous. The aim has to be to force people to pay their existing debts while also providing credit to those who can afford it. $85 billion a month of commercial housing market debt is not evidence of a "refusal to extend credit", some people are getting credit, just not those who still haven't paid their last mortgage and now fancy making a speculative investment with a second mortgage!

[Heng]

How do we begin to covet, Clarice? Do we seek out things to covet?

that's the problem right there. Not any kind of economic/fiscal policy.

[Soutpeel]

Here's a prime example of Thailand. My partner gets 50,000 baht per month in a government job. She has borrowed against that for the next 20 years. So her salary is now 10,000 baht per month. Everytime her yearly increase goes over 10,000 baht the banks do a nice promotion to all the workers at her office. The banks tell them oh don't worry the interest is very low. With all the loans the bank keep pushing on her. She is paying 20,000 baht per month in interest. She keeps taking the loans because she no longer has enough to live on. My stepdaughter the same. 1st job. 15,000 baht a month. Bank turns up at her office. She borrows 300,000 in her first year of work. Then she didn't have enough to live on. Still paying the money back. Now working in a bar to support herself. The banks should not be allowed to solicit so much money from people. Forcing them to go to the loan sharks to survive. Shocking the way the banks put these young people in debt for thirty years, when they are just out of school.

The banks are not forcing anything on anybody, your using your nanny state logic to blame some one else for an individuals own actions, did they hold as gun to your step daughters head to sign the paperwork ?

[trogers]

Here's a prime example of Thailand. My partner gets 50,000 baht per month in a government job. She has borrowed against that for the next 20 years. So her salary is now 10,000 baht per month. Everytime her yearly increase goes over 10,000 baht the banks do a nice promotion to all the workers at her office. The banks tell them oh don't worry the interest is very low. With all the loans the bank keep pushing on her. She is paying 20,000 baht per month in interest. She keeps taking the loans because she no longer has enough to live on. My stepdaughter the same. 1st job. 15,000 baht a month. Bank turns up at her office. She borrows 300,000 in her first year of work. Then she didn't have enough to live on. Still paying the money back. Now working in a bar to support herself. The banks should not be allowed to solicit so much money from people. Forcing them to go to the loan sharks to survive. Shocking the way the banks put these young people in debt for thirty years, when they are just out of school.

The banks are not forcing anything on anybody, your using your nanny state logic to blame some one else for an individuals own actions, did they hold as gun to your step daughters head to sign the paperwork ?

Not totally true. I have worked with condo developers before 2010 and noticed banks leading the market. They would stipulate that they would only finance the projects if they are primarily small units of studios and 1-bedrooms.

As a result 7-8 years later, the market is flooded with these small units and lacking adequate supply of 2-bedrooms or larger units.