Thai economy in a bumpy ride

[Robby nz]

The good General had that covered and his solution to our poor economy situation is to raise more taxes. Military men should stay as military men and not try to act as economist.

You might have missed that general government financing and the financing of various projects to stimulate the economy require some money. What with the previous government having been somewhat easy in spending, the current government needs to operate in a tighter environment.

There's still the 700 billion Baht RPPs debt and somehow the 1.4 trillion the previous government parked under the carpet at Bank of Thailand because that gave them better borrowing conditions.

He has also missed that the present finance minister is not a military man but highly respected in the financial world and that the BoT (which has just lowered interest rates by 0.25%) is responsible for managing the economy.

But when you are just posting for a bash what do facts matter.

Rob, your highly respected financial minister seem highly respected by only the coup leaders. He got his finance portfolio in both coups and not once in an elected government. May be his ability to condescend and follow orders. He is reported to favour the land tax just like the PM.

Yes he is respected in financial circles.

Thaksin with his proxy Govts put his own people in a finance ministers, loyalty and doing what they were told being the only qualifications needed.

Korn was the choice of the Abhisit Govt and he was said to have been the best finance minister this country has ever had.

It would appear you prefer Kitterat who believes that telling lies about the economy is the correct thing to do.

The land tax is a tax on the rich who own expensive properties and large land holdings, the alternative which has been mentioned is an increase in VAT which would impact most on the poor.

[Robby nz]

He has also missed that the present finance minister is not a military man but highly respected in the financial world and that the BoT (which has just lowered interest rates by 0.25%) is responsible for managing the economy.

But when you are just posting for a bash what do facts matter.

Rob, your highly respected financial minister seem highly respected by only the coup leaders. He got his finance portfolio in both coups and not once in an elected government. May be his ability to condescend and follow orders. He is reported to favour the land tax just like the PM.

My dear Eric, this may surprise you, but the current MoF is not 'my' MoF.

As you may remember the NCPO tried to get a non-political NLA and cabinet. That would excluded all those who by being elected as MP get a chance to become a minister as well. That even excludes our previous Mr. 'little white lies' chap, although he was handpicked by Ms. Yingluck on criteria 'knowledge', 'capabilities' and 'potential'.

Furthermore and this may really surprise you, lots of knowledgeble people make an explicit choice to follow a career in business or academics rather than be soiled by politics.

Lastly, the previous non-elected government under Surayut also tried a 'inheritance and land & house tax law' but dropped the matter as he was convinced by some that such important matters should be left to be decided on by elected governments. Those elected governments promptly forgot about the matter of course. All sides have too many important, rich and landed people as financial or moral backers.

There is an exception to that Rubi, The Democrat Government of Abhisit had much the same thing on the table during their term in office but this was dropped when the house was dissolved and was not revived by the Yingluck Govt :

The land tax draft is among the laws the Finance Ministry is proposing the National Council for Peace and Order (NCPO) for consideration.

If approved, it will push for its enforcement within one year.

The law had already been vetted by the Council of State in 2011 during the Abhisit Vejjajiva government, but was dropped when the House of Representatives was dissolved.

Oops that cant be right the Democrats are owned by the rich elite and would never want to tax them.... Well that's what their detractors tell us.

And the party of the poor they should have been very keen to introduce a tax on the rich.... Seems not, wonder why ?

[Eric Loh]

The good General had that covered and his solution to our poor economy situation is to raise more taxes. Military men should stay as military men and not try to act as economist.

You might have missed that general government financing and the financing of various projects to stimulate the economy require some money. What with the previous government having been somewhat easy in spending, the current government needs to operate in a tighter environment.

There's still the 700 billion Baht RPPs debt and somehow the 1.4 trillion the previous government parked under the carpet at Bank of Thailand because that gave them better borrowing conditions.

He has also missed that the present finance minister is not a military man but highly respected in the financial world and that the BoT (which has just lowered interest rates by 0.25%) is responsible for managing the economy.

But when you are just posting for a bash what do facts matter.

Rob, your highly respected financial minister seem highly respected by only the coup leaders. He got his finance portfolio in both coups and not once in an elected government. May be his ability to condescend and follow orders. He is reported to favour the land tax just like the PM.

Yes he is respected in financial circles.

Thaksin with his proxy Govts put his own people in a finance ministers, loyalty and doing what they were told being the only qualifications needed.

Korn was the choice of the Abhisit Govt and he was said to have been the best finance minister this country has ever had.

It would appear you prefer Kitterat who believes that telling lies about the economy is the correct thing to do.

The land tax is a tax on the rich who own expensive properties and large land holdings, the alternative which has been mentioned is an increase in VAT which would impact most on the poor.

No problem that you find Khun Sommai highly respected. Somehow to me the experience of being the MD in SET outweighs working for a bank for the important finance minister role. Also fine with your assessment of Korn even though he was clouded with controversies regarding the fire sales of cheap 1997 assets. That's totally your personal prerogative. The Kittiratt lies always close at hand to be quoted. Just tell me which FM including the current and global do not lie to talk up their country economy.

Somehow what Kittiratt tried to ask BOT to do finally happen during Junta time. The quarter percentage drop has done its job and Baht depreciated and will help the export sector. Lacking in large amount are the fiscal policies to stimulate domestic and export growth. Like or hate it, the rice scheme, first house and car schemes and tax cuts in previous government gave a big boost to the domestic economy. Toyota is experiencing a big drop in sales and would affect manufacturing which have a influence on employment. Real estates are not fairing too good too. Budget disbursement is off target and money is not getting into the economy. Projects delayed and many contractors and workers are feeling the pinch. The SMEs are struggling due to lack of liquidity and lack of government initiative. The FDI is slowing down as foreign investors are concern with the uncertainty of a junta government. Remember the previous junta gaffe in introducing capital control. It was a disaster.

We have a dominating and intimidating PM who presides over the cabinet. Just like a family run business, a very micro managing and dominating CEO will stifle ideas and expression. All is not well and the economy is heading for a free fall until Thailand revert back to democracy and free election.

[rubl]

... ...

We have a dominating and intimidating PM who presides over the cabinet. Just like a family run business, a very micro managing and dominating CEO will stifle ideas and expression. All is not well and the economy is heading for a free fall until Thailand revert back to democracy and free election.

We had a criminal fugitive running his cabinet and clone like a family business. Top man thinking, rest acting. Lots of posters seemed to be happy with that.

Anyway, it would seem Thailand's economy has been in a free fall for almost a year now (according to some that is). The rest of the World follows the Thai example it looks like. The Euro on it's lowers point since 2003. Must be the coup in Thailand.

[Eric Loh]

... ...

We have a dominating and intimidating PM who presides over the cabinet. Just like a family run business, a very micro managing and dominating CEO will stifle ideas and expression. All is not well and the economy is heading for a free fall until Thailand revert back to democracy and free election.

We had a criminal fugitive running his cabinet and clone like a family business. Top man thinking, rest acting. Lots of posters seemed to be happy with that.

Anyway, it would seem Thailand's economy has been in a free fall for almost a year now (according to some that is). The rest of the World follows the Thai example it looks like. The Euro on it's lowers point since 2003. Must be the coup in Thailand.

Rubi, was Thaksin back running the cabinet? Giving some advise is vast different from physical presiding the cabinet.

Funny you don't see the fall in export, dwindling FDI, struggling SMEs, low tourist inbound, drop in car and houses sales, stalled government projects and drop in revenue collection from poor domestic consumption. Yes, it's a free fall and really lack of government initiatives and policies. And someone said that more taxes are the panacea. A cabinet re-shuffle is not far away.

[rubl]

... ...

We have a dominating and intimidating PM who presides over the cabinet. Just like a family run business, a very micro managing and dominating CEO will stifle ideas and expression. All is not well and the economy is heading for a free fall until Thailand revert back to democracy and free election.

We had a criminal fugitive running his cabinet and clone like a family business. Top man thinking, rest acting. Lots of posters seemed to be happy with that.

Anyway, it would seem Thailand's economy has been in a free fall for almost a year now (according to some that is). The rest of the World follows the Thai example it looks like. The Euro on it's lowers point since 2003. Must be the coup in Thailand.

Rubi, was Thaksin back running the cabinet? Giving some advise is vast different from physical presiding the cabinet.

Funny you don't see the fall in export, dwindling FDI, struggling SMEs, low tourist inbound, drop in car and houses sales, stalled government projects and drop in revenue collection from poor domestic consumption. Yes, it's a free fall and really lack of government initiatives and policies. And someone said that more taxes are the panacea. A cabinet re-shuffle is not far away.

'advise' from a criminal fugitive who own the party and provides allowences for it's top members is indeed vastly different, apart from illegal of course.

Fall in export, problem in countries exporting to

FDI outbound as if Thailand is a developed country

low tourist inbound, only 26 - 28 million, but problems in many countries and exchange rate worries

drop in car and house sales, after the previous government's 'support' policies and associated raise in domestic debt.

poor domestic consumption, high domestic debr rate in part caused by previous government 'promotional' activities

stalled government projects, lack of money after the more careless previous government

etc., etc., etc.

As for taxes, well of course the poor object to inheritance, land and home taxes even with tax free brackets. It's clearly the wealthy elite who want to pay.

[AZBill]

Martial law will do that!

[wow64]

These are not positive statistics.. Why are they being reported?

Overall the happinese index rating or the HRI is up 4%..

Sent from my c64