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Posted

As all here know Thai governments are very good at administering their various subsidy schemes. If someone knows a pointer I'm interested in a list of all farmer subsidy schemes from this century.

That would include subsidies as in payouts in various forms, promotions like the creditcards and debt manipulation as in 'scrap it', payment delay for a period, interest cuts, etc., etc. As I'm already sick and tired about rice I don't feel a need for info on rice subsidies or 'self-financing' schemes.

Thanks

  • Like 1
Posted

Feel sorry for those farmers who couldn't hang on in there and killed themselves because of farming related debts. I don't like the military leadership but won't make a political issue out of it.

Posted (edited)

The Bangkok elite don't care about Somchai. Here's how a bank works.

Loans on the bank's books are assets - money owed to the bank. By international standards, any loan which is persistently past due must be written off as a loss. If the loan is later collected that money goes into income, not a reduction of loans outstanding. The loan on the books is long gone to expense - losses.

All of those delinquent loans are losses by any standard. The bankers don't want to charge them off and "admit" the losses on the books. Losses eat into a bank's capital - the bankers own money - and could eventually even break a bank if it ran out of capital.

This is the elite looking out for each other. Somchai stays poor and uneducated.

Cheers

Edit: If the elite really cared about Somchai they'd crack down on loan sharks and help Somchai with those loans. But, no, this is only welfare for the bankers, not Somchai or the loan sharks.

Edited by NeverSure
  • Like 1
Posted

Dear Pheu-Thai supporters,

Please shut up and hang your heads in shame. It's your fault this mess needs bailing out to this degree. Farmers took loans to plant as many rice crops as possible thinking they would be in easy street with all the money from the government. Which ran out because it was a completely unsustainable policy.

Please google 'shame' and try to imagine what it is.

Yes there's lots of farang red supporters who cast their vote for the PTP in this forum isn't there.

I don't see very many Thai PTP supporters post here either

Google bullshit whilst your on a Google <deleted>!

It's all the fault of TVF farangs for the plight of the farmers then?

Google dilusional after you've looked up bullshit!!

Probably needs to Google "Personal Responsibility" while he's at it. The GF's older brother borrowed 100,000 THB and has never been able to pay it back. He borrowed it 26 years ago. I can't imagine any way anyone could pin the blame on PTP for that.

  • Like 1
Posted

The Bangkok elite don't care about Somchai. Here's how a bank works.

Loans on the bank's books are assets - money owed to the bank. By international standards, any loan which is persistently past due must be written off as a loss. If the loan is later collected that money goes into income, not a reduction of loans outstanding. The loan on the books is long gone to expense - losses.

All of those delinquent loans are losses by any standard. The bankers don't want to charge them off and "admit" the losses on the books. Losses eat into a bank's capital - the bankers own money - and could eventually even break a bank if it ran out of capital.

This is the elite looking out for each other. Somchai stays poor and uneducated.

Cheers

Edit: If the elite really cared about Somchai they'd crack down on loan sharks and help Somchai with those loans. But, no, this is only welfare for the bankers, not Somchai or the loan sharks.

Og goody, it's only the Bangkok Elite (who ever they may be). For a moment I thought you were going to blame the junta.

Mind you, a lot of money is loaned from the BAAC, a government bank, some from GHB (a government bank) and lots of money from local loan sharks (local power brokers and local 'elite').

Furthermore the previous government which was really into helping the poor and farmers and so, didn't do much either, apart from providing more loans, introduce debt moratoria, issue credit cards and so.

Posted

The Bangkok elite don't care about Somchai. Here's how a bank works.

Loans on the bank's books are assets - money owed to the bank. By international standards, any loan which is persistently past due must be written off as a loss. If the loan is later collected that money goes into income, not a reduction of loans outstanding. The loan on the books is long gone to expense - losses.

All of those delinquent loans are losses by any standard. The bankers don't want to charge them off and "admit" the losses on the books. Losses eat into a bank's capital - the bankers own money - and could eventually even break a bank if it ran out of capital.

This is the elite looking out for each other. Somchai stays poor and uneducated.

Cheers

Edit: If the elite really cared about Somchai they'd crack down on loan sharks and help Somchai with those loans. But, no, this is only welfare for the bankers, not Somchai or the loan sharks.

Og goody, it's only the Bangkok Elite (who ever they may be). For a moment I thought you were going to blame the junta.

Mind you, a lot of money is loaned from the BAAC, a government bank, some from GHB (a government bank) and lots of money from local loan sharks (local power brokers and local 'elite').

Furthermore the previous government which was really into helping the poor and farmers and so, didn't do much either, apart from providing more loans, introduce debt moratoria, issue credit cards and so.

Right. Always find a way to make it about the "other government."

There is no spin needed here and there's no supercomputer needed to figure it out.

This will bail out the bankers from all of those loans. End of.

  • Like 2
Posted

1. The banks will get bailed out of a bunch of loans by the government simply paying them off. It's not going to be the banks who forgive the loans.

2. Because there's so much money involved, the bulk of the loans will be extended. The reason they won't have to be charged off as losses is that the government will guarantee them. A cosigner of last resort.

The reason the bulk of the loans to the most borrowers will be extended instead of being paid off is that the government would have to fork over the cash. This is kicking the can down the road where Somchai doesn't pay much and yet appears to be current with payments.

Does Ruble not see the fraud against a future government and future taxpayers putting money out now to the bankers and guaranteeing a bunch of loans which Somchai still will never repay?

  • Like 1
Posted

The Bangkok elite don't care about Somchai. Here's how a bank works.

Loans on the bank's books are assets - money owed to the bank. By international standards, any loan which is persistently past due must be written off as a loss. If the loan is later collected that money goes into income, not a reduction of loans outstanding. The loan on the books is long gone to expense - losses.

All of those delinquent loans are losses by any standard. The bankers don't want to charge them off and "admit" the losses on the books. Losses eat into a bank's capital - the bankers own money - and could eventually even break a bank if it ran out of capital.

This is the elite looking out for each other. Somchai stays poor and uneducated.

Cheers

Edit: If the elite really cared about Somchai they'd crack down on loan sharks and help Somchai with those loans. But, no, this is only welfare for the bankers, not Somchai or the loan sharks.

Og goody, it's only the Bangkok Elite (who ever they may be). For a moment I thought you were going to blame the junta.

Mind you, a lot of money is loaned from the BAAC, a government bank, some from GHB (a government bank) and lots of money from local loan sharks (local power brokers and local 'elite').

Furthermore the previous government which was really into helping the poor and farmers and so, didn't do much either, apart from providing more loans, introduce debt moratoria, issue credit cards and so.

Right. Always find a way to make it about the "other government."

There is no spin needed here and there's no supercomputer needed to figure it out.

This will bail out the bankers from all of those loans. End of.

THe BAAC (Bank for Agriculture and Agricultural Cooperatives) is a State bank which was set up be the government to help agriculture. The Yingluck Government had them set up the infamous 'revolving funds' which didn't revolve much and left the BAAC with a 700++ deficit in their books. The current government has planned for seven instalments of 107 billion Baht reservations in this and coming years National Budget.

The GHB (Government Housing Bank) was set up long ago to provide easy loans to lower income people.

The local loan sharks may have existed since someone cleaned out a temple in Jerusalem, or even before.

So, 'bankers' helped ?

Posted

Right. Always find a way to make it about the "other government."

There is no spin needed here and there's no supercomputer needed to figure it out.

This will bail out the bankers from all of those loans. End of.

THe BAAC (Bank for Agriculture and Agricultural Cooperatives) is a State bank which was set up be the government to help agriculture. The Yingluck Government had them set up the infamous 'revolving funds' which didn't revolve much and left the BAAC with a 700++ deficit in their books. The current government has planned for seven instalments of 107 billion Baht reservations in this and coming years National Budget.

The GHB (Government Housing Bank) was set up long ago to provide easy loans to lower income people.

The local loan sharks may have existed since someone cleaned out a temple in Jerusalem, or even before.

So, 'bankers' helped ?

This isn't about the revolving fund for the rice scheme. It isn't about loan sharks.

This is the government paying off some loans and guaranteeing some others. The loans the government guarantees won't be paid off but it will cause Somchai to be current on his loan at the bank for many years. That doesn't help Somchai in the long run because he still can't pay the loan.

Go to the bottom line and this takes all of those bad loans to farmers and either pays them off or extends them with ridiculous terms. The primary beneficiaries are the bankers.

It doesn't matter who owns the bank. The Bangkok elite with their privileged noses in the trough care about it though.

Posted

Right. Always find a way to make it about the "other government."

There is no spin needed here and there's no supercomputer needed to figure it out.

This will bail out the bankers from all of those loans. End of.

THe BAAC (Bank for Agriculture and Agricultural Cooperatives) is a State bank which was set up be the government to help agriculture. The Yingluck Government had them set up the infamous 'revolving funds' which didn't revolve much and left the BAAC with a 700++ deficit in their books. The current government has planned for seven instalments of 107 billion Baht reservations in this and coming years National Budget.

The GHB (Government Housing Bank) was set up long ago to provide easy loans to lower income people.

The local loan sharks may have existed since someone cleaned out a temple in Jerusalem, or even before.

So, 'bankers' helped ?

This isn't about the revolving fund for the rice scheme. It isn't about loan sharks.

This is the government paying off some loans and guaranteeing some others. The loans the government guarantees won't be paid off but it will cause Somchai to be current on his loan at the bank for many years. That doesn't help Somchai in the long run because he still can't pay the loan.

Go to the bottom line and this takes all of those bad loans to farmers and either pays them off or extends them with ridiculous terms. The primary beneficiaries are the bankers.

It doesn't matter who owns the bank. The Bangkok elite with their privileged noses in the trough care about it though.

Oh come on. The government owns these banks, the government tell these banks what to do. We the tax payer pay the bill.

Nothing to do with 'bangkok elite' profiting, unless you want to accuse the Yingluck government of helping the 'bangkok elite' by guaranteeing the deficit at the BAAC which resulted from the RPPS.

Furthermore a little bit, but only a little bit is done against loan sharks, but that's mostly a (powerful) local elite issue. The 'elite' which in part is still as powerful as 100 years ago, the elite that controls their fief. Maybe a few 'newcomers' amongst them. I fear PM Prayut needs to invoke article 44 to get anything done about those chaps. Still I'm sure you have nothing against a proper use of article 44.

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