Many Thais weighed down by debts

[balo]

Not a ploblem in Pattaya , walking ATM will take care of evelything.

[Puwa]

The basic problem I see is that the traditional rural Thai economy and culture, which evolved on the principles of subsistence and exchange, can't cope with a market economy. In the old days, debt meant a web of local obligations involving food and labor and various other ways people could produce and provide their own "currency," so to speak. The cash economy came in and replaced much of that, inevitably, and decades of bad government and dismal education failed to help society adapt. The currency that matters most today is one that people can't produce for themselves. Consumerism is a problem, lack of planning and arithmetical skill are problems, but but perhaps just symptoms of total abandonment of the rural economy at the highest levels of development policy. Issues like land reform, environmental protection, and development in the provinces, as opposed to Bangkok, were never managed right, and the window to address them effectively seems to have closed (in the late 90s). In fact, the whole notion of a "sufficiency economy" is tacit recognition that rural folk can only survive hand-to-mouth in today's Thailand.

[trogers]

The basic problem I see is that the traditional rural Thai economy and culture, which evolved on the principles of subsistence and exchange, can't cope with a market economy. In the old days, debt meant a web of local obligations involving food and labor and various other ways people could produce and provide their own "currency," so to speak. The cash economy came in and replaced much of that, inevitably, and decades of bad government and dismal education failed to help society adapt. The currency that matters most today is one that people can't produce for themselves. Consumerism is a problem, lack of planning and arithmetical skill are problems, but but perhaps just symptoms of total abandonment of the rural economy at the highest levels of development policy. Issues like land reform, environmental protection, and development in the provinces, as opposed to Bangkok, were never managed right, and the window to address them effectively seems to have closed (in the late 90s). In fact, the whole notion of a "sufficiency economy" is tacit recognition that rural folk can only survive hand-to-mouth in today's Thailand.

Only the new generation of rural folks can get out of the pit, provided their spirit to strive and to learn are not killed by handouts and laziness...

[Sirbergan]

Another day older and deeper in debt !,if they were all

farmers they would get Government help.

regards Worgeordie

You seem to have a deep understanding on the subject. Farmers are often forced into unmanageable debt, with no way out of it. And no, no government help. You're delusional at best if you think Thai farmers are spoiled.

[Brit_Doggie]

Bbut it not thai direct debts it's what the farang don't know of the ATM usage for gambling amen

[Sirbergan]

My Thai wife works as a teacher, works 6 day a week, hugely educated, but earns a daft amount like £300 a month. Seems to me some of the blame lays with wages not covering the basics even for professionals.

Good point. My Thai sister-in-law is a teacher, too. She's a Deputy Governor at a Thai government school. She works nights and weekends tutoring so she can pay her house payment, utilities and other expenses . Why? Partly because of criminally low wages, and also due to a lazy, drunken Thai husband who gives her absolutely no money, not even for food. He spends all his income on beer and cigarettes. Sadly typical.

I had one of those husbands in my village. He asked me for a handout, as he wanted to go to a cock fight. I told him I'd be happy to give him money (or rather, give it to his wife) if he had asked me to feed or clothe his unfed children with nothing but dirty and worn out clothes, but that hell would freeze over before I gave him money to go bet on cock fights.

[DrTuner]

Not a ploblem in Pattaya , walking ATM will take care of evelything.

They are in short supply these days, the Chinese won't go for it. Seeing the girls attack the small batch of two week millionaires last weekend like foxes in henhouse was quite entertaining.

[Lampang2]

money lending business is exactly as aggressive in Miami targeting latinos.

They took the lead in production of the bad house loans for fanny Mae etc, that went belly up

[Lampang2]

Subprime was the word.

Only in the US you find this word fiddling.

As in pre owned car.

[aRobotnamedWAR]

buy more Johnny walker and brands bird spit.

[ableguy]

Another day older and deeper in debt !,if they were all

farmers they would get Government help.

regards Worgeordie

The problem is not lack of money in magement skills, it's the simple fact of lack of money due to crap wages and a cannot survive minimum wage, workers want to send their kids to school and university like any parents.

The problem is communist controlled countries around us along with military. And their cannot live on a hundred baht a day willing to come here and work like slaves for two hundred baht a day. The rich here will never change from enslaving the working class. We will not see the end result in our life time and I am talking to ex pats retired.

[trogers]

Another day older and deeper in debt !,if they were all

farmers they would get Government help.

regards Worgeordie

The problem is not lack of money in magement skills, it's the simple fact of lack of money due to crap wages and a cannot survive minimum wage, workers want to send their kids to school and university like any parents.

The problem is communist controlled countries around us along with military. And their cannot live on a hundred baht a day willing to come here and work like slaves for two hundred baht a day. The rich here will never change from enslaving the working class. We will not see the end result in our life time and I am talking to ex pats retired.

And their kids want to have their Iphones and motorbikes like any other kids instead of studying. Come age 17-18, they have to end up getting married because of teen pregnancy...

Studies and universities? Perhaps one in a whole village...

[KarenBravo]

They want those fashionable consumer goods to gain face and they want them NOW.

Not willing to wait, work and save money for them.

It's the same as the West, just add a huge dollop of face to the equation.