the prices go up every week

[sirineou]

Inflation...

This is what I have been told by respective maids, nannies, caretakers,... or whatever you can call them, for the last 50 years.

But should I care as soon my fridges have been always full since I was born?!?

Yeah and its a lot of bullshit too. Inflation is how banks make money it simply takes more money to pay back what is borrowed. A result of allowing the Federal Reseve, a private bank, the right to the money that they lend to the govt. A huge scam.

Anyone who thinks that the current ridiculous inflation is the result of pent up demand is wrong. Its the result of all the money printing to pay off the govt debts.

I don't know how Thai families can afford it. There could be civil unrest in many countries when they can't feed their families.

Why do I keep hearing from the English that the Federal Reserve is a "Private Bank"? Don't you folks ever check out what you say first to see if it is true? What crap. It is not dictated to by politicians, but it is certainly part of the US Government. Its governing body is all appointed by, but does not answer to, the President of the United States. Check your facts and educate yourself. Who started this, Piers Morgan? The man that knows nothing?

You are wrong.

http://www.factcheck.org/2008/03/federal-reserve-bank-ownership/

Q: Who owns the Federal Reserve Bank?

A: There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks. But the banks don’t necessarily run the show. Nationally, the Federal Reserve System is led by a Board of Governors whose seven members are appointed by the president and confirmed by the Senate.

FULL ANSWER

The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks.

The full answer was fuller in your link than in your reply, you just chose the parts that supported you position out of context and ignored the rest

This is not a thread about the fed, so I will not say anything else about that

Anyone interested in the subject can start a Thread, plenty of info in the subject on Google, I would be a lively Thread

[Oceanbat]

Inflation...

This is what I have been told by respective maids, nannies, caretakers,... or whatever you can call them, for the last 50 years.

But should I care as soon my fridges have been always full since I was born?!?

Yeah and its a lot of bullshit too. Inflation is how banks make money it simply takes more money to pay back what is borrowed. A result of allowing the Federal Reseve, a private bank, the right to the money that they lend to the govt. A huge scam.

Anyone who thinks that the current ridiculous inflation is the result of pent up demand is wrong. Its the result of all the money printing to pay off the govt debts.

I don't know how Thai families can afford it. There could be civil unrest in many countries when they can't feed their families.

Eh? That's not how it works. Higher inflation means in the future it takes less money to pay off debt (the future value is worth less than today) which is why interest rates are higher in times of high inflation. Banks make more money when interest rates are higher (called NIM). Interest rates aren't higher though are they? Central banks are cutting them. This printed money that you say is causing inflation isn't. Rates are negative in a lot of Europe now as they are buying govt bonds with the cash driving down rates. In trying to create inflation they are creating deflation and blowing asset bubbles. They are robbing savers and forcing people into riskier asset classes.

OB

[BigBadGeordie]

Inflation...

This is what I have been told by respective maids, nannies, caretakers,... or whatever you can call them, for the last 50 years.

But should I care as soon my fridges have been always full since I was born?!?

Yeah and its a lot of bullshit too. Inflation is how banks make money it simply takes more money to pay back what is borrowed. A result of allowing the Federal Reseve, a private bank, the right to the money that they lend to the govt. A huge scam.

Anyone who thinks that the current ridiculous inflation is the result of pent up demand is wrong. Its the result of all the money printing to pay off the govt debts.

I don't know how Thai families can afford it. There could be civil unrest in many countries when they can't feed their families.

Eh? That's not how it works. Higher inflation means in the future it takes less money to pay off debt (the future value is worth less than today) which is why interest rates are higher in times of high inflation. Banks make more money when interest rates are higher (called NIM). Interest rates aren't higher though are they? Central banks are cutting them. This printed money that you say is causing inflation isn't. Rates are negative in a lot of Europe now as they are buying govt bonds with the cash driving down rates. In trying to create inflation they are creating deflation and blowing asset bubbles. They are robbing savers and forcing people into riskier asset classes.

OB

Ah but but but we have MacWallen to teach us how to invest.

[thrilled]

Nothing you can do about inflation.Just part of life.

[Oceanbat]

Inflation...

This is what I have been told by respective maids, nannies, caretakers,... or whatever you can call them, for the last 50 years.

But should I care as soon my fridges have been always full since I was born?!?

Yeah and its a lot of bullshit too. Inflation is how banks make money it simply takes more money to pay back what is borrowed. A result of allowing the Federal Reseve, a private bank, the right to the money that they lend to the govt. A huge scam.

Anyone who thinks that the current ridiculous inflation is the result of pent up demand is wrong. Its the result of all the money printing to pay off the govt debts.

I don't know how Thai families can afford it. There could be civil unrest in many countries when they can't feed their families.

Eh? That's not how it works. Higher inflation means in the future it takes less money to pay off debt (the future value is worth less than today) which is why interest rates are higher in times of high inflation. Banks make more money when interest rates are higher (called NIM). Interest rates aren't higher though are they? Central banks are cutting them. This printed money that you say is causing inflation isn't. Rates are negative in a lot of Europe now as they are buying govt bonds with the cash driving down rates. In trying to create inflation they are creating deflation and blowing asset bubbles. They are robbing savers and forcing people into riskier asset classes.

OB

Ah but but but we have MacWallen to teach us how to invest.

I don't follow?

OB

[jacko45k]

Geez...Costas is correct....pork tendorloin 94 b a kilo....at my local tesco......food here is cheap......well maybe not drunk farang food......

Was in Tesco yesterday, looked at all the signs, saw them for dairy/milk products; canned goods; sauces etc.

Did not see a single one directing me to the "drunk farang food section".

Please assist.

Look for Chang and chips!

[LindaLovelace]

MOVED to the Pub

Give that man a cigar!

[maidee]

just look it at this way

yes, everything get more expensive

you have your western pension or other incomes

many times more than average somchai

how does he survice in this economy ?

yes, i will also complain this & that goes up terrible and for no reason... like how can a product, that is stocked, go up 20 - 30 % in a week ?

and the restaurant bills also get higher, for the same food and often you see SMALLER PORTIONS for more money

[thehelmsman]

Shop at local markets Avoid Big C etc Large eggs are 87 baht for 30 at wholesalers (they're everywhere) Buy Archa beer by the carton it's much cheaper than Leo and tastes better. My wife and I can easily live a "No frills" life on 300 baht/day, less if I gave up beer. But that won't happen.

Well now, your wife is quite the lucky lady indeed.

[orange31]

Fruit seem to have gone up in price. Fruit at Bic C/Tesco are crazy expensive.

[Ghostnigel]

Inflation...

This is what I have been told by respective maids, nannies, caretakers,... or whatever you can call them, for the last 50 years.

But should I care as soon my fridges have been always full since I was born?!?

Yeah and its a lot of bullshit too. Inflation is how banks make money it simply takes more money to pay back what is borrowed. A result of allowing the Federal Reseve, a private bank, the right to the money that they lend to the govt. A huge scam.

Anyone who thinks that the current ridiculous inflation is the result of pent up demand is wrong. Its the result of all the money printing to pay off the govt debts.

I don't know how Thai families can afford it. There could be civil unrest in many countries when they can't feed their families.

Why do I keep hearing from the English that the Federal Reserve is a "Private Bank"? Don't you folks ever check out what you say first to see if it is true? What crap. It is not dictated to by politicians, but it is certainly part of the US Government. Its governing body is all appointed by, but does not answer to, the President of the United States. Check your facts and educate yourself. Who started this, Piers Morgan? The man that knows nothing?

Whatever....Did that statement change the price rises? No, neither did mine

[marko kok prong]

If it get's to bad,one could always cook the in laws.

[losworld]

Inflation...

This is what I have been told by respective maids, nannies, caretakers,... or whatever you can call them, for the last 50 years.

But should I care as soon my fridges have been always full since I was born?!?

Yeah and its a lot of bullshit too. Inflation is how banks make money it simply takes more money to pay back what is borrowed. A result of allowing the Federal Reseve, a private bank, the right to the money that they lend to the govt. A huge scam.

Anyone who thinks that the current ridiculous inflation is the result of pent up demand is wrong. Its the result of all the money printing to pay off the govt debts.

I don't know how Thai families can afford it. There could be civil unrest in many countries when they can't feed their families.

actually inflation is how banks loose money,

economics 101.... sorry if it sounds didactic, and the following explanation simplistic

if you lend to someone $30,000 for thirty years to buy a house and 30 years later they gave you back that $30,000 but now you cant even buy a small car with it, would you feel that inflation helped you make money?

Aside from the profit aspect, that's an other reason why banks charge interest, as a hedge against inflation.

in a high inflationary environment banks need to raise the interest rate they charge to keep pace with inflation and maintain a profit margin

Inflation is a natural economic occurrence, and has many complicated components but basically is a result of the interaction between the cost of the means of production and the price of product ,

it is a push /pull interaction,

as prices go up people demand higher wages, and cost of raw material and other means of production go up, so producers have to charge a higher price for their product, so people need to make more money to afford product raising the cost of means of production etc etc etc

The central bank raises or lowers rates to adjust the cost of money which is a big part of the means of production but also stimulate demand for product, , in this explanation I am not even touching on how inters increases the money supply, which would open an other can of worms.

A low Inflation rate or stagflation is also not desired because it indicates low demand and signals a slow down in economic activity

So a natural rate of inflation between 1.75% and 2% is desired and is usually the target inflation rate of most countries

The core inflation rate in Thailand is now 1,6% The national bank of Thailand predicts that inflation will average at 2.1% in 2015

So to simply say that banks make money from inflation, or as someone else said the Bangkok elite are buying Baht to protect the value of their money is simply not correct, It is a complicated system and any simple answers have no choice but to be wrong. Remember Thailand is a net exporter a high BAHT is detrimental to exports. and if the "elite" actively maintained a High Baht they would be shooting themselves on the foot.

Any way, again sorry for the simple explanation , volumes can be written on the subject, but who wants to read them

as I said simple explanations to a complex subject have no choice but to be wrong, and this can also apply to my simple explanation,

Do you seriously believe that if the banks believed inflation was not profitable the Fed Reserve would be so committed to preventing deflation????

I have an MBA so you can skip the 101 econ stuff.

Fed Reserve controls the money supply and lends money to the banks. Inflation results from excess money supply and money created out of thin air which must be paid back with interest. A fiat currencly. Interest and inflation and all part of the bank profit game. Its not as simple as supply and deman although I wish it was. Don't believe everything the University told you.

Edited April 6, 2015 by losworld

[opalred]

maybe costa should give advice to his home country cut wine and food in half sell large chains around there necks and pay your bills have you pawned yours to pay for cost of living now

[jiipii]

Beef mince at Foodland year -11 before flooding 190b/k. Promo 160b/kg.

Today 350b/kg its 10€ in Scandinavia we pay 6€/kg.

Pork mince at Macro it is not for humans. Mia buy once, looking very ugly, gave to soidogs, no eat, just smell and keep walking.

[sandyf]

I was told at the beer wholesale shop yesterday that a tax rise had come in on the 1st April. Box of Chang classic went up from 539 to 555 baht. I noticed at Tesco that a bottle of Crown had jumped from 192 to 242 baht.

This was posted on 28th March.

Smokers will now pay higher prices for cigarettes after the Sports Act, which requires tobaccos producers and distributors to contribute to a newly established ‘national sports development’ fund, has become effective.

Thailand Tobacco Monopoly (TTM) says it has announced an increase of all locally-produced and imported cigarettes by 1-2 baht per pack following the publication of the Sports Act in the Royal Gazette on March 20.

TTM managing director said Daonoi Suthinipapant said the Sports Act requires all producers and distributors of tobaccos and alcoholic beverages to contribute to the ‘national sports development’ fund the amount equivalent to 2 percent of excise tax they pay.

Meanwhile, the government is eyeing to increase excise tax on tobaccos and alcoholic beverages by 2 percent, which is also expected to slightly increase cigarettes and boost prices.

The tax hike is expected to push up cigarette price by 1-3 baht per pack.

Price of Thai beers is also expected to increase by 47 satang (100 satang =1 baht) and those of imported beers should rise by 60 satang a can.

Price of locally-made spirits will rise by 79 satang per bottle while locally-made coloured brandy will see a 2.2 baht increase in price per bottle.

Price of foreign coloured brandy will rise by between 5.23 and 8.49 baht per bottle.

http://englishnews.thaipbs.or.th/cigarette-and-liquor-prices-to-go-up-now

[Pheat123]

Shop at local markets Avoid Big C etc Large eggs are 87 baht for 30 at wholesalers (they're everywhere) Buy Archa beer by the carton it's much cheaper than Leo and tastes better. My wife and I can easily live a "No frills" life on 300 baht/day, less if I gave up beer. But that won't happen.

You sure have got some life style going on

[opalred]

its gone crazy beer up twice in 2weeks at makro

[chiang mai]

The price of beer/spirits always increases, just before Sonkran, it's the Thai New Year festival.

[Stan42]

The price of beer/spirits always increases, just before Sonkran, it's the Thai New Year festival.

Unfortunately they are not lowered after Songkran.

[wolfmanjack]

I go shopping twice a week usually.

Each time is about 2k baht.

Cheap really. Don't bother looking at the prices, you see some people scouring their receipt, what a crappy way to live.

Sometimes you get charged the wrong amounts. One day at makro my receipt ended up being 1500 baht more than I figured it should and found an item that was actually 150 baht was rung up at 1500 baht so it is a good idea to pay attention to prices unless you can afford to throw your money away for nothing.